Make Payments On the Go! – Stripe Payment Gateway
The world that we live in today is seeing a boom in technology; there is an invention, a development or innovation almost every hour. In this era of technological advancements, buying and selling of goods over the internet has got it’s own special place. One of such innovation is Stripe Payment Gateway that helps eCommerce platform . eCommerce, basically, is business transactions made in terms of goods and services, or transmission on funds or data over a network. These can be of the following types,
Business-to-business
Business-to consumer
Consumer-to-consumer
Consumer-to-business
eCommerce transactions:
The trend of buying products over the internet comes with a lot of benefits as it is relatively easy to browse thousands of products in the desired category with just a click of a button, perform a research, compare brands, read reviews and finally narrow down to the one that we want to buy. Though it is much less taxing than going to a physical store, the customers have their reservations when it comes to making payments on any online shops. The increase in Online frauds and cyber crimes make people skeptical about sharing their account details and passwords over an online marketplace. It is the prime responsibility of an eCommerce business owner to provide a secured transaction platform to attract and retain customers.
Stripe Payment Gateway for SAP:
Stripe Payment Gateway is a new innovative module for eCommerce market on SAP Hybris platform. Lets go through the main features of this module.
Secure Card Details:
Regular customers didn’t have the need to repeat the checkout process; Stripe offered a feature that let them secure the details of their credit card. Easy Checkout:
This extension allows the seller to get instant payment acceptance and customers could easily checkout with just a click of a button. Â Â Â Â Â Â Â Â Â Â Â
Uncaptured Payments:
Uncaptured payments expire exactly seven days after they are created. If they are not captured by that point in time, they will be marked as refunded and will no longer be captured.
Merchant account:
Using Stripe, the seller could integrate payment processing into their websites without having to register but maintain a merchant account for stripe. For any initial transaction Stripe provides seven-day waiting period, during which it profiles the businesses involved to protect against potential fraud.
Tokenization:
Tokenization is the process used by Stripe to collect sensitive card or bank account details, or personal identifiable information (PII), directly from customers in a secure manner. Tokens can be created using the API and publishable API key. It creates a single use token that wraps the details of a credit card. This token can be used in place of a credit card Map with any API method. These tokens can only be used once.
Merchant Control:
It allows the seller to control and customize order forms so as to improve customer’s experience.
Thus, the gateway made each transaction safe and easy for both the seller and the customer. It also had reduced online fraudulence on money and information.