Why develop and customize payment gateway in Dubai?

   2019-12-23       47        Technology
Rating :
Digital payments have been simplified for merchants and e-commerce websites with comprehensive packages that are offered by the companies developing payment gateway.
The cost of developing and customized payment gateway is generally higher than using a third-party, where the popular ones usually have associated fees. The main benefit of customizing the payment gateway to mold the company requirements is that since it is optimized to suit the organizational requirements and is an investment, which will not need a change for a few years to come.

Common pitfalls with payment gateway portals
There are a few common recurrent problems with most, but not all payment gateway portals. Some of the problems faced by merchants are discussed briefly below.

Single processor unit
This type of payment gateway cannot offer the merchants a good fee structure and they end up paying higher. It also does not offer the merchant the option for multiple settlement accounts between the bank and the merchant.

Manual processing of settlement reports
This is when the settlement reports from the processors have to be manually processed to convert into a readable format; this is inefficient and cumbersome and has chances of errors.

Unsupported recurrent payments
Due to security reasons, merchants want tokenization to accept recurrent payment from customers; the chosen payment gateway Dubai businesses choose must provide high security for these types of sensitive transactions.

Off-site payment page
Most merchants want an off-site payment page so that their customers can be redirected to the page for payment processing, as opposed to being transferred to a third party page, which can be a sign of low security.

Key components for an efficient payment gateway
There are a few aspects to check off the list when the time comes to consider the best option for the business. One of the most important points to remember is that the gateway should provide multiple processors to ensure that the merchant can choose an acquiring bank for their settlement accounts. This also provides competitive transaction fees as different processors will have different processing fees.

Security with PCI compliance and fraud management and detection systems are incredibly important for the safety of the customers, as well as the merchants; wrongful chargebacks from a fraudulent transaction is one of the biggest battles that merchants and customers face for payment gateway Dubai businesses use.

Scalability to add new and improved features to the ever-changing world of technology is crucial for business growth; having a system that can be easily customized to add new features will ensure that merchants have an easier time scaling up their business.

Arbitration and dispute management are necessary so that merchants are able to have an interface to resolves disputed chargebacks from the issuing banks.
 
The best payment gateway in Dubai will offer competitive pricing, excellent customer service, faster settlement time, and high and quality, detailed and automatic reporting for the merchants; having a customized payment gateway can ensure lesser problems for the merchant over time.

Author Signature :


PayTabs, a payment gateway company, and writes on topics related to <a href="https://www.paytabs.com/en/best-payment-gateway/">payment gateway in Dubai</a> built to provide buyers and sellers an advanced technology to pay and get paid.

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