What Is E-commerce?
E-commerce is also known as electronic commerce. This refers to the buying and selling products or services over the internet and transfer of money online. This is a kind of commercial transaction. People who work from home have benefited from e-Commerce, which enables them to sell their goods and services at a scale that was not possible with traditional offline retail. E-commerce payment gateway means conduit between e-Commerce website and payment gateway
Types of e-Commerce models.
- Business-Customer: When a businessman sells a product to individual person. For example, handbag,watch directly from the owner.
- Business to Business: When a businessman sells goods or products to another businessman likewise, wholesale clothes.
- Consumer to Consumer: When a consumer sells a good or service to another consumer like , you sell your old products to the company like e-Bay.
- Consumer to Business: When a consumer sells their own products or services to a business or organization. For example, an influence offers exposure to their online audience in exchange for a fee, or a photographer licenses their photo for a business to use.
Examples Of E-commerce:
E-commerce can vary in different forms including different transactions between businesses and consumers.
- Retail: The sale of a product by a business directly to the consumer without mediator.
- Wholesale: Retailers buy products in bulk and then, sells directly to the consumers.
- Drop shipping: Manufactured products are sold and shipped directly to the consumer without any third party
- Subscribe: If a person chooses a channel and get updates on regular basis, automatically recur the purchase of the product.
- Digital Products: The products or goods,templates,media that must be purchased for consumption or licensed for use.
- Services:A skill or set of skills provided in exchange for compensation. The service provider’s time can be purchased for a fee.
How Does IPG E-commerce Payment Gateway Works?
- First Of All, IPG is a third party merchant account. Payment Gateway is a e-Commerce software application that authorizes payments online. It is a third party between merchant and customer. IPG performs key role in processing the payments between customers and merchant.
- IPG conceals sensitive information and details of payment such as credit card number.
- When customer order a purchase online through cart. Our merchant securely transfers the ordered information to the payment gateway.
- The transaction is then routed to the authorized bank for request transaction authentication.
- After this, the authorized bank may accept or declined the transaction due to insufficient funds.
- IPG sends information to the merchant and then accordingly, bank settles the money with IPG.
- By using IPG you can put your business in control and acceptance of payment will be in your hands. you can grow your business on fingertips.
Benefits Of E-commerce Payment Gateway in IPG
- Eliminate fraud transactions through in-house risk management tools
- Identically, Dedicated Account with Own Descriptor available.
- Additionally,VT e-check/Web Based API also allotted.
- Fast process for live transactions
- Importantly, we provide Weekly payout for offshore accounts
- We also offer less Charge-back and Dispute Ratio (We allow up to 10%)
- Fast Payout for domestic and International Merchants based on Volume
- Dedicated account manager also provided
Frequently Asked Questions
Is payment gateway is necessary for e-Commerce businesses?
Yes, it is mandatory to have an payment gateway for e-Commerce businesses.
What cards will my E-commerce Merchant account accept when I go live with the service and is it possible to accept other cards?
E-commerce Merchant account supports all Global Debit, Credit and Prepaid Cards on our Safe & Secure Payment Platform likewise, Visa card, American Express, MasterCard, Including Union pay, Discover network, JCB.
Do I need a bank account to use the E-commerce Merchant service with International Payment Gateway?
It will be necessary for you to have a bank account for us to pay your transaction payments into. Without an account the funds would not be able to be credited to you. First IPG will check your business history and volume of your businesses then, we will accept your account.