Payfort Payment Gateway- A Simple Definition

Payfort is a trusted and one of the leading payment gateways that provides government, businesses, Start – ups, SME’s and institutions with innovative payment methods for the banked and non- banked online shoppers. It helps them accept online payments, maximises your revenue and reduces the occurrence of frauds. Every business has an opportunity to serve people by allowing their customers the option to pay online anywhere in the world and at anytime.

The company first understands its customers financial and revenue model; then identifies the areas of risk and the payment process and then formulates strategies for online payment acceptance. They help their merchants in offering different payment options as per their requirement. They also provide with friendly and simple checkout options that gives the customers the best online shopping experience they deserve.

Their team is comprised of technology gurus, seasoned bankers and risk management experts which helps so many firms to manage and innovate their online payment process.

The structure of the company is broken down in circles rather than departments. Each circle perusing a different goal. The individual circle holds regular meetings in which they resolve their problems, tensions, take appropriate decisions and appoint tasks. This monthly feedback enables them to understand what is working and what not. They allow everyone to contribute their ideas and follow the policy of transparency.

Following important features of the company make it stand as a leading payment gateway for online merchants.

1. Speedy integration

When it comes to set up a payment gateway there are many moving parts you need to take into consideration. Right from applying for a merchant ID to integrating the website with the service provider, it has a lot to manage for a business owner. Payfort helps the business owners step by step and provides a hassle free set up. They have partnered with major e-commerce platforms such as Shopify, Magento, Open cart, woocommerce, etc. to help them get started with. These e-commerce platforms offers them various tools and features that further helps the business owners to expand and explore.

The business owners find it difficult to deal with the integrating payment methods, various tools and API’s which helps them grow and raise their business. They merchants have to just integrate once and the rest is taken care by the Payfort gateway. Their solutions enables the merchants to customise their payment stack and reach all its customers no matter where.

2. Seamless check out experience

Payfort provides its customers a cashless environment through a one click checkout and makes the customers shopping experience easier task.

Merchant pageV2.0:- This allows the customers to check out on your website without being redirected to any other external websites. This type of integration helps you to produce a form that collects the details of the card which is directed to Payfort and is substituted with a token. The business owner uses this token to complete the transaction.

Mobile SDK:- It makes your site available with a responsive checkout page for all types of screen sizes. It easily accepts In-App payments. Instead of the time consuming mobile browsing payment this is an easier method.

Recurring transactions and subscription service:- Recurring transaction allows the business owner to charge the customer a specific amount using the purchase operations in a single message mode. The subscription service creates and schedules a recurring subscription for the customers using Payfort back office.

Invoicing:- they provide their owners with an invoicing solution where the customers can be invoiced by just sending a link through email and SMS.

3. Local payment methods:

Now its time to go global. Local selling days are all over. Everyone wants to turn their business and capture international markets as well. Payfort enables it merchants to sell anywhere, to anyone and at anytime. The number of customers has increased due to the acceptance of credit card payment with more than 80 currencies. Payfort provides its merchants local payment methods customised and the ones which appeal the requirements of a particular country or region. They have also expanded with the local leading acquirers that will help in settling with the local currency.

4. Protect against Fraud

One of the very important aspect of a business is to ensure that your customer returns back. This is possible if you have a secure and convenient payment option. Payfort has build a robust fraud prevention strategy irrespective of the type of business or size of the business whether an enterprise or a start up. They ensure that it matches the merchants business needs.

With the help of multi layered solution, leading advanced technologies and an expert team of risk management; the business owners can manage the fraud and risk management process in house or completely outsource them to Payfort.

Payfort is also certified to latest PCI DSS standards. It also provides its business owners with standard security and has advanced encryption technology which protects the customer data to be misused.

Payfort has a complete fraud management team to keep you safe. It has created the best rules and security standards to reduce the fraud. It has an automated fraud detection which reviews all the transactions. It also immediately blocks the fraudsters in the industry blacklist, it can detect anomalies during the transaction and protect against any risks. It also provide with a 3D secure verification process which is of two steps. It will reduce the cardholder’s disputes and increase acceptance of credit card on your site. The customers will in turn feel safe with high security protocol to protect them.

5. Real time dash board

Now with the fast pacing technology you can have one entity manage all sub accounts and you can view your customers complete cycle of valid orders in the system to understand the buyers’ persona. This is all possible by a powerful real time dash board provided by Payfort. Now you don’t have to wait for the monthly and weekly reports. The business owners can operate more efficiently and service their clients better by real time monitoring. It can also track operational and analytical KPI’s.

It provides its business owners with a powerful back office for help to optimise payment process. It can create multiple sub accounts to enhance the working capital.

The order and transaction management tool provided by Payfort enables the merchants to have access to the customers complete life cycle of valid orders on the system. It is also used to manage all the payments of the orders.

It has another tool MOTO for security and mobility reasons for the customer. It is also known as having a virtual terminal.

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Jignesh Kothia

Director at WebPlanex
Jignesh Kothia, Director at WebPlanex, with a penchant for technology created an organization that helps businesses push up their growth and deliver only the best to its clients. He is proficient in a number of web and mobile app development technologies including PHP, YII, HTML5, Laravel, Rest API, Android, iOS, and many more.
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