Interesting Infographic on chargeback

Payment gateway - Part 2

Hi people,

So moving on to the part 2 of the payment gateway stuff, I would like to discuss on

• Shopping cart
• Security
• Card Security

SHOPPING CART:

It is like the skeleton of ecommerce website. Shopping cart is a software which helps you arrange your products in the website and list them. 

People can choose the required items and once when the click on CHECK OUT. The shopping cart will contain all items they ordered for and will display the total value of the purchased items.

Given below is shopping cart provider to name a few.

1. Magento
2. Bigcommerce
3. OS commerce
4. Zen cart

Cloud Based shopping carts (Hosted online)

1. Go magento
2. Ecorner
3. 3D cart

How will a shopping cart help a merchant?

It helps the merchant to be organized; it paves him the way to make his online store layout neat and attractive. At the end of the day, the merchant can download a shopping cart report to find a list of orders and its details on who has order, what are the items, payment status, transaction id and etc. This makes his job, less tedious and organised.

CHECK OUT:

It is the action to be triggered by the user once he/she feels that the purchase is done. It is typically like a customer in a brick and mortar super market getting a cart and getting the required products and walking to the cash counter. So here in an ecommerce website the CHECK OUT button indicates the end of purchase and directs you to the payment page.

SECURITY:

Once the CHECKOUT button is clicked it will direct you to the payment gateway were you can furnish your card details and make payments against the bill.

Here if you notice the web address will turn to https: and a green coloured padlock appears, which indicates that the link has switched to ssl secured.

What is SSL?

• SSL is Secure Sockets Layer
• It is the standard security technology for establishing an encrypted link between a web server and a browser. It ensures the data transferred between them remains private and safe.
•  You can even see google and facebook using ssl as their address appears in https:// and the padlock icon is viewable.

CARD SECURITY

Most people hesitate to buy online is because of fear of losing personal information and car holder data online. But the payment card industry has come up with the certification called PCI:DSS every merchant who saves or gets the card holders data must be PCI:DSS secured. PCI: DSS expands to PAYMENT CARD INDUSTRY: DATA SECURITY STANDARDS. It comprises of 7 parameters to be satisfied by every merchant or payment processor.

So when you buy online make sure the merchants site and the payment gateway are SSL secured and  PCI:DSS certified.

Here are few things to note on your credit or debit cards.

1. Your card will have 16 digits as it card number.
2. If the card number begins with 3 its AMEX CARD
3. If the card number begins with 4 its VISA CARD
4. If the card number begins with 5 its MASTER CARD
5. If the card number begins with 6 its DISCOVER CARD
6. The first digit should always match with the card brand.
7. The first four digits will be embossed just below the first four digits. Check if the first four digits and the embossed digits are the same.
8. Hologram.
9. And CVV is CARD VERIFICATION VALUE is the number you find behind your card. It is used for second level authentication during payments. CVV will be 3 digits.
10. In India RBI is requests people to enable 3-D secured password for a 3^rd level authentication during payment processing.

Hope you would have got the required insights.

Thank you :)