In a modern metropolitan like Dubai, online payment gateways are the backbone of e-commerce websites and digital business operations. A secure e-payment infrastructure gives the finishing touches to a satisfying online customer experience.
There are 3 factors to consider in order to accept payment online and deal with money over the internet:
1) Mode of payment: In simpler terms, this refers to the method of payment you’d like to offer to your customer. This includes - Cash on delivery, Credit cards, Debit cards, Bank transfers, Cheque, Western Union, Prepaid cash cards or prepaid online payment accounts.
2) The Payment Gateway: Apart from Cash on Delivery, any online mode of payment would require a payment gateway. A gateway is a connection between your bank and your customers’ bank.
3) The Payment Processor: This could be the merchant bank or any bank that’s responsible for the money transfer.