In the cosmos of Magento 2 extensions for your dedicated eCommerce store, there comes the payment gateways, which hold the utmost importance. You definitely need the best Magento 2 store, with impeccable features or functionalities, to thrive in this competitive sector. But what’s more important for winning over the competition is a better user experience.
The one thing that can boost the user satisfaction rate of your Magento 2 store is the seamless checkout experience! And that’s possible when you have a secure, cost-effective and convenient payment gateway for your Magento store.
There are ample payment gateway extensions available at the marketplaces, and they can also be developed on demand! The purpose of these extensions is to help you safely conduct monetary transactions online, ensuring a seamless payment experience for them.
If you are new to the Magento world and are keen to know everything about the payment gateways, this is the right page you have landed on. Read this article till the end to find out all the necessary details on Magento 2 payment gateways.
What is a Payment Gateway?
In simple words, the payment gateway is more like the bridge that connects the customers with your Magento store for conducting financial transactions. It is the trusted middleman who processes the transactions and approves the credit or debit card usage requests of customers.
All the transactions that go through these gateways are encrypted! Once the customers’ card or other payment modes are validated, the amount will be debited from their account and would be credited to yours.
Why Stress on Using the Right Payment Gateway for Your Magento 2 Store?
Well, the payment gateway is the only available way for you to securely accept the debit or credit card payments on the Magento store. For security measures, there’s no way you can skip through this process and accept credit or debit card payments without a gateway, as this would compromise the customers’ credit card data.
And, even though you are convinced about using a payment gateway, you cannot just pick the first extension you see online. You need to do a thorough analysis and determine which payment gateway is the right pick for your Magento 2 store. To help you better understand why it is important to stress on using a reputed and right payment gateway, here are a few reasons:
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Builds the Consumer Trust
Consumers tend to trust the store when they see a reputed payment gateway listed for processing monetary transactions. Therefore, it becomes important for you to advertise the reputed payment gateways they use to make customers feel confident about buying from your store.
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Repels the Fraudulent Transaction Attempts
Most of the reputed Magento 2 payment gateways have the required features to fight back fraudulent attempts. The right extension will help with address verifications, CVV checks, and automated flagging of suspicious transaction attempts. Thus, this is how payment gateways help keep the data secure.
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Ensures PCI Compliance
Every online merchant who is accepting credit card payments should meet the standards set by PCI. By integrating a reputed payment gateway, you will be relaxed from the hassle of handling sensitive credentials of customers’ payment modes and meet PCI compliance on priority.
What are the Best Magento 2 Payment Gateway Extensions You Can Count On?
If you are confused about your options with PayTrace Payment Gateway Magento 2, here are some of the hand-picked preferences that would be best for you to secure customer transactions in your store:
1. PayTrace Payment Gateway
The PayTrace payment gateway is a reputed extension with 100% security assurance on validating and processing online transactions. It helps your Magento store adhere to the mandatory security standards such as PCI. It accepts all the major credit cards, such as American Express, MasterCard, Visa, etc. It has the ability to process the payments in dollars.
2. PayPal Multicurrency
PayPal Multicurrency Magento 2 is yet another popular gateway extension for your stores, which allows your customers to process payments in their desired currency. In addition to that, your store gets the branding value of PayPal. By integrating this gateway and having a PayPal business account, your store can accept payments in multiple currencies and enhance its global reach and branding value.
3. Monetico Payment Gateway
Monetico Payment Gateway Magento 2 is yet another common extension which supports the inclusion of sanction methods in the payment section. With this, the payment fulfilment will be processed on the redirected page, ensuring the customer information stays safe. This extension will allow you to configure and install your electronic payment terminals easily.
4. Payment Restrictions Extension
Magento 2 Payment Restrictions is not literally a gateway but is an extension that helps you hide or show the payment methods on your Magento 2 store, depending on specific conditions. Suppose you don’t want to give the Apple Pay option to people from specific countries. In that case, you can use this extension to restrict this payment option by setting the country parameters.
Similarly, you can impose restrictions based on shipping addresses, customer groups, cart items, and other attributes.
5. Offline Credit Card Payment
You can integrate an Offline Credit Card Payment Method extension for your Magento 2 store, which enables the said functionality for a better customer experience. With this, your customers will be able to save their card details and won’t have to enter them again the next time they buy from your store. These details will be encrypted and stored in a secure database for future transactions.
Parting Words
There are ample payment gateways out there that can help your Magento 2 store feel more secure for the customers to process their transactions without second thoughts. It would reduce the rate of cart abandonment, as the checkout process would become seamless.
Different gateways replicate varying functionalities. It is best for you to try them all out and see for yourself what works well for your Magento 2 store. Take the help of experts and understand the functionalities that a specific gateway would add to the store. Based on the assessment and practical analysis, pick the ideal Magento 2 extensions for your store to thrive!