SHARED ECOM GATEWAY
Payment Gateways are online credit card validation and processing system that allows vendors to sell their products and services online. Gainsnav has helped hundreds of businesses to accept payments online. Gainsnav is the only organization in India to offer payment gateways with the lowest transaction rate [ Rate charged per transaction made online ]. Our aim is to provide Payment Gateways at the lowest possible cost so that Small and Medium Businesses can harness the full potential of Internet.Why go for a Payment Gateway ?
Payment Gateways are very handy in completing a sale online. For instance, there are many items such as gifts, electronic gadgets, software etc which are purchased online. The whole activity of online sales ends with payment processing using Payment Gateways. Payment Gateway also indirectly serve as means of Validity of a company, Makes impulsive buying possible, Allows clients to use their card and use their credit period.Above all, it shortens the duration for making payment for a client as well as realization of payment by the vendor.
Types of Payment Gateways
There are three financial components in a Payment Gateway.- Set Up Fee [ Usually one time fee ]
- Annual Maintenance Fee
- Per Transaction Fee
- Dedicated Payment Gateways
- Shared Payment Gateways
Payment Gateways in general can be classified as follows;
Shared Payment Gateways:
This type of payment gateways are issued as a third party payment processing to the vendor. The per transaction fee is very high when compared to Dedicated Payment Gateways. Billing is not done in the vendor name. Hosting environment does not require any special environment setting to be done. This consists of Economy and Premium Packages.Why go for Shared Payment Gateway Solutions?
- The first and foremost factor is Cost. The pricing for Shared Payment Gateway Solutions range between Rs.7500 to Rs. 25000.
- Easy to use. Doest not require high end integration skills or System Administration.
- Can be easily integrated even in Shared hosting environment.
- In built Fraud Alert system such as IP address tracking, Address verification, Charge Back alerts, Flagging based on suspicious transactions.
- Wider Coverage including VISA, Master, Amex Cards. Net Banking also included in these payment gateways.
Short Comings of Shared Payment Gateways How to buy a Shared Payment Gateway
The following are the most familiar short comings in a Shared Payment Gateway Solution.
- Billing in the Card Statement will usually appear in the name of Payment Gateway provider. This might cause confusion to your customers.
- Per transaction rates are too high [ 5 to 8 % per transaction ]. This is against 2.5 to 3.5 % in dedicated payment gateway solutions.
- The per transaction rate does not change based on the volume of business done thro the payment gateway.
Dedicated vs Shared Payment Gateways
Dedicated PG
Feature
Economy
Premium
One Time Setup Fee
6999
21500
Annual Fee
1200
2400
Per Transaction Fee
7 %
5%
Billing Name
Third Party
Third Party
Payment Realization
Weekly
Weekly
SSL Encryption
128 bit SSL
128 bit SSL
Cards Accepted
VISA [ Master requires additional formalities ]
VISA [ Master requires additional formalities ]
Environment Settings
NA
NA
Steps in getting a Dedicated HDFC Payment Gateway
Verification:
Our Risk and Legal team will verify and update you of technical and commercial req.Submit Requirements:
Submit the required Technical and Commercial req. On verification, test payment gateway will be enabledTest Payment Gateway:
Test your shopping cart with our Sandbox payment gateway.Go Live:
On successful testing and approval, Go Live !How to get a Dedicated HDFC Payment Gateway ?
Check Before You Request : The Pre-requisites
The following are the general pre-requisites to apply for a HDFC Payment Gateway;
- Current Account / Savings Account
- Proper manufacturing or servicing setup with office and employees etc. with proof of existence
- Products or services sold cannot include but not limited to drugs, medicines, alcohol, multilevel schemes etc.
Step1: Verification
On meeting the basic pre-requisites, you will be verified for the following but not limited to;Location and Business Verification like office premises, sign boards, invoices, customers etc.
Your company's existence for atleast last 2 years with profit balance sheet and a sales turnover of 60 lakhs per annum.
- Domain Whois must contain your correct contact details
- Terms and Conditions
- Privacy Policy
- Cancellation and Refund Policy
- About Us
- Type of Product
Website must contain;
Step 2: Documents & Other Requirements
For most of the payment gateways, the documents required are almost the same, except few variations. Extra documents or credentials are required to be submitted if request by the Bank.- Commercial Documents
- Technical Documents
Commercial Documents Required For Payment Gateways
If Sole Proprietor
- Proof of proprietorship.
- ID Docs of the proprietor.
- Payment Gateway Agreement in stamp paper as mentioned in the confirmation mail.
- Bank Account certification by your bank.
- Application for payment gateway in your letter head.
If Partnership
- Partnership Deed.
- ID Docs of the proprietor.
- Payment Gateway Agreement in stamp paper as mentioned in the confirmation mail.
- Bank Account certification by your bank.
- Application for payment gateway in your letter head.
If Private Limited
- Copy of ID proof of all the directors with " Company For Seal and Signature of all the directors " Any one of the following is accepted as ID proof;
- MOA and AOA documents along with Certificate of Incorporation. If certificate of incorporation is not included in MOA or AOA, it can be provided separately.
- If all the directors are not mentioned in MOA or AOA, then Form 32 must be provided for directors who are not mentioned in the MOA or AOA.
- Payment Gateway Agreement in stamp paper as mentioned in the confirmation mail.
- Bank Account certification by your bank.
- Application for payment gateway in your letter head
(Voters ID, Pan Card, Drivers License, Passport)
Step 4: On successful completion of the testing, you can integrate with your shopping cart and go live !
