The Financial Technology industry has a development area of its own. With the subtle changes in the technological world and the profoundness of finance, the growth rate has been tremendous. Furthermore, it becomes the driving force for online payments and digital grounds.
In addition, multiple social media platforms are accessing online payments through dedicated channels. It tells the tale of the evolution of online payments. Thus, it is safe to say that the FinTech adaptations are making a mark on online payment processing. The change in any area defines its future and provides a better ecosystem to the new companies.
How does FinTech add valuation?
The Digital Payment Industry’s valuation is increasing every day. On the other hand, the global fintech investments hit records. Furthermore, the investment amounts and returns were tremendous.
The growing world even had some of the best lineups in 2021. Till June 2021, the global investments hit $98 billion. (KPMG)
These FinTech investments became a fruitful result. With a tireless upward trend of Digital Payments, the corporations found firmer ground. The businesses skyrocketed with multiple clienteles. As a result, the FinTech world got some of the best support.
The digital payment era got reinforcement through enhancement of the new-found technologies. In other words, the advancements in automation streamlined digital payments.
The Enhancement in the Global eCommerce Department
eCommerce is one department where FinTech and Digital Payments made an exclusive mark. The Digital Payments in the FinTech industry made a corpus through the eCommerce department. The pandemic and post-pandemic era made a surge in the eCommerce businesses. Therefore, the payment service providers became prominent.
Modernizing online payments through multiple payment methods made a significant mark on businesses. Furthermore, FPS, chargeback management, enhanced visibility, and improved accuracy are some benefits.
These services provide precise solutions and make businesses stronger. The FinTech uplifts are not limited to their businesses, but the eCommerce profit a lot.
As an eCommerce business falls under the High-Risk category, the Payment Service Providers come in handy. The Payment Gateway is a service that interacts with the consumers and provides particular solutions to make payments easy.
What are the Features of a Payment Gateway for eCommerce Businesses?
There are many features of a payment gateway. These features provide solutions to merchants for processing payments on the website.
Card on File
The card on file feature is the most prominent part of the Payment Gateway. It allows the consumer to save their transaction details. And, they can pay next time without entering all the information again. It will significantly reduce the time for the payment checkout for the consumer.
Furthermore, the payment processing becomes quick and seamless. The Merchants get to showcase a better consumer experience.
Payment processing is not enough. Smooth checkout and re-directionless payments are pretty crucial for a better solution too. The Easy Checkout enables just one window for the complete payment. It removes the redirects from the picture.
Reports suggest that consumers tend to drop a payment if a single payment has multiple redirects.
The Payment Gateway is PCI Compliant that ensures payment and revenue security. The PCI Compliance is the standard protocol for the payment processing, acceptance, and storing of information. PCI Compliance will keep your business secured from data breaches.
Furthermore, it will also ensure that your business is compliant with payment processing on the website.
Fraud Prevention Tools
On the other hand, dedicated fraud prevention tools work actively and passively on the payment processing channel. The payment gateway uses AVS, CVV Checker, GeoLocation Tracking, Fraud Scoring, and more. These work actively to keep the payment gateway secured from fraud payments.
Multi-Factor Authentication is another tool that has dynamic support to the payment processing for your online business.
Real-Time Transaction Monitoring
The real-time monitoring of online payments gives powerful control to the merchants. These dashboards and monitors keep a business over the edge. FinTech provides advancement in the visibility of the payments. Therefore, eMerchantPro offers a powerful dashboard for the merchants to witness these payments.Furthermore, this is an era of change for the businesses working in the Digital Payment department. Furthermore, eMerchantPro provides solutions that are not only dedicated to the FinTech industry but also makes the High-Risk business reach a global platform.
To Learn how the payments shifted with FinTech upliftments visit eMerchantPro now