How to Sell Products in Online Store – Foloosi

Foloosi is a UAE online market place facilitating consumer-to-business card payments by enabling businesses to display QR code, share Payment Links and API integrations for their customers to pay conveniently.

Online Market has been one of the quickest developing platforms in the Middle East, and UAE has probably the most energizing online store figures in the area. Moved by the nations close to complete web infiltration and its reputation for being a world-class shopping goal, web based business has seen inconceivable development in the UAE in the course of recent years. To such an extent that terms like “megatrend” have progressively come to be utilized when discussing web based business in the nation.

Maintain an online store and run & explore your business using Foloosi. Foloosi is a complete solution that seamlessly connect consumers with businesses and is backed by powerful CRM system to provide actionable flow of events resulting in a fast, modern and secure ways of making technology work at its advanced best especially in payments. 

All you need to know about starting an online store

Choose what items to sell 

Your initial step is choosing which items or administrations to offer. Your items can go from special items you’ve made to sourced things from outsider sellers or drop shippers. 

Identify your target market

Inquiring about and distinguishing your objective market and rivalry will go far to assist you with choosing item valuing, web architecture and marking, and building your underlying showcasing technique. This can give bits of knowledge into exhibiting your item’s advantages to potential clients.

Pick an all-in-one ecommerce platform

Picking the privilege ecommerce platform is similarly as significant as the item you sell. Ensure you pick a completely facilitated, across the board arrangement that enables you to claim both the Ecommerce site and the shopping basket programming. Thusly, you needn’t bother with coding aptitudes or need to pay exchange charges on deals. You likewise approach a help group to assist you with setting up your store.

Build your online store

Choose an ecommerce theme or a custom design that works with your brand. Set up product categories and upload your inventory with as much information as you can. Set up shipping methods and payment gateways.

Create detailed “About Us” and “Contact Us” pages to tell your story. Again, if you’re using a hosted, all-in-one platform, these are included. Now you’re ready to sell products online.

Promote and market your web store

When you have your online store ready for action, your subsequent stage is to begin associating with potential clients. Another favorable position of the across the ecommerce platform is the worked in SEO instrument that enables you to upgrade your webpage for web crawlers and clients. Connect with your customers on social media and advertise through PPC ads and shopping engines. 

It’s an all-in-one platform, from hosting to checkout, so we, Foloosi have everything you need to be successful in one place.

If you need more guidance when building your online store, we also offer support team. They know the software inside and out and can ensure you’re making the right decisions while building your store, and can offer ideas on how to improve your website and generate more revenue.

UAE bank told to pay for Dh4.7 million after SIM swap fraud

Dubai: A recent judgment by a Dubai court, which held a local bank responsible for a Dh4.7 million SIM card swap fraud, serves as a reminder to all banks and telecom providers to adopt tighter security measures, a Dubai-based lawyer has said on Sunday.

Ghassan El Daye, Partner and Head of Litigation for the Middle East with the UK-based law firm Charles Russell Speechlys, said that in a landmark judgment, the Dubai Commercial Court recently found a local bank responsible for a SIM card swap fraud that cost a customer Dh4.7 million in life savings.

The case dates back to 2017 when the customer’s money was stolen from his account which the bank had then closed without his knowledge.

El Daye said the court has ordered the bank to pay the customer Dh4.7 million with a nine per cent interest from the date the case was lodged.

“This judgment is significant because it involves new essential factors related to the UAE’s banking sector and its customers. The judgment suggests recommendations for banks and telecom providers, including the need to apply strict security measures, carry out continuous monitoring, upgrading of PIN numbers and tighter background checks on employees,” said El Daye.

He said telecommunications companies should also impose tighter controls over SIM card replacement applications as several scams have been reported in the country.

“It must be forbidden to issue a replacement SIM card unless the holder of the card goes physically to the bank and telecommunications provider with original ID.”

According to Al Daye, his client, who used to work in the UAE, had opened a savings account at the local bank in Dubai in 2015 before he moved out of the country, leaving behind Dh4.7million in the account. But to the horror of the man, whose nationality and age wasn’t disclosed by the lawyer, the account showed zero balance in May 2017. The man then lodged a criminal complaint. But a Charles Russell Speechlys litigation team, headed by El Daye, advised him to pursue a civil case in order to get his money back.

During a court hearing in September this year, the victim’s defence said the bank should be held responsible based on facts and expert findings. The bank had insisted it’s the client’s responsibility since he had possession of the original SIM card and PIN number. It had argued that he should have objected to the transactions within 30 days of reviewing the account statement.

According to case documents, the bank failed to disclose its internal investigation reports to an expert appointed by the court and claimed the incident was a result of faulty transactions.

“For such a scam to succeed, our client’s confidential information must have been deliberately exposed by some bank employees who had access to it,” said El Daye.

The expert’s report submitted to court was in favour of the client and stated that confidential data, including official documents and contact numbers, were illegally revealed to others by a bank employee.

“This information was illegally passed on to other suspects who used it to obtain a replacement SIM card for the client’s phone number from the local telecommunications service provider in Dubai,” the lawyer said.

The fraudsters were able to change the PIN code connected to his bank services before logging him out and transferring the money.

However, the Dubai Commercial Court rejected the bank’s claims in October 2019 and held it responsible for the scam.

How SIM swap cards work

Once cyber criminals have gathered enough information on a target, they create a false identity. First, they call the victim’s cell phone provider claiming that his or her SIM card has been lost or damaged. Then they request a replacement SIM. Most telecom providers won’t acquiesce to those requests unless security questions are answered, but the fraudsters come prepared, using the personal data they’ve collected to defeat the security checks.

As the victim’s SIM card stops working, the criminal gains access to any online service that requires security codes to be sent to a user’s mobile phone. Banks do ask for confirmation via text messages to the phone number but since it’s already with the criminal, victims remain in the dark even after their bank accounts have been drained.

How to protect yourself from SIM swap fraud:

If your cell phone number stops working for an unknown reason, get in touch with your telecom operator immediately.

Register your number for SMS and email alerts to stay updated about transactions on your bank account.

Don’t respond to unsolicited calls and text messages asking for your bank details.With inputs from Mazhar Farooqui, Features Editor – Special Repor

Source: https://gulfnews.com/uae/uae-bank-told-to-pay-for-dh47-million-after-sim-swap-fraud-1.68348671

Money in Dubai: Banks, ATMs, Cards & Currency Exchange

The most populous city in the United Arab Emirates, Dubai, is also one of the Middle East’s biggest business hubs. One reason that Dubai attracts people from across the world is that the city has a 0% income tax. Yep, you heard correctly. Dubai dwellers, now numbering 2.7 million people, can pocket all of the cash they earn.

Not surprisingly, the city is developing rapidly as a result, with 20% of the world’s construction cranes located there. Currently the world’s biggest mall, tallest hotel, and largest aquarium are already situated in this stunning city. Visitors not on a budget can also stay at the world’s only 7-star hotel, the Burj al Arab.

What’s the currency in Dubai?

The United Arab Emirates (UAE) Dirham, usually known as the Emirati Dirham, is the official currency of the UAE. Introduced in 1973, the currency replaced the Qatar and Dubai Riyal. Officially the currency is abbreviated as AED, but DH and Dhs are also used unofficially. It’s divided into 100 fils, which is a modern retranscription of Fals, a medieval Arabic coin.

Characteristics of the United Arab Emirates Dirham
Names and nicknamesEmirates Dirham, Dirham, AED, DH, Dhs
Symbols and abbreviationsWritten as the AED on official exchanges, and unofficially abbreviated to Dh, Dhs.
1 AEDOne dirham is divided into 100 fils.
Dirham coinsDirham coins are available in the commonly used denominations of 25 and 50 fils, as well as the infrequently used 1, 5 and 10 fils coins. A 1 dirham coin is also available.
Durham banknotesDirham banknotes are available in 5, 10, 20, 50, 100, 200, 500, and the rarely used 1,000.

If you were looking to use cash from back home in Dubai, you won’t have much luck. It’s pretty uncommon to pay for goods and services in Dubai with any currency other than the Dirham. However, International credit and debit cards, such as Visa and Mastercard, are widely accepted at retailers. ATMs are situated nearly everywhere, and foreign debit cards can usually be used in order to take out cash. You can also exchange cash at several locations. But we’ll discuss that later.

What should I know about exchanging money in Dubai?

Foreign visitors to Dubai can exchange their currency both at banks and currency exchanges.

Find an exchange service that offers you fair rates

When in Dubai, keep in mind that you’ll find the best rates if you’re exchanging from US dollars, as the AED is pegged to the dollar. So you’ll receive roughly the same rates (after factoring in added fees) when converting from dollars to dirhams.

Here are some of the best spots in the city to swap cash without losing much.

Often, exchange places, especially at airports and hotels, will attempt to woo customers by advertising their favorite phrases: “0 fees” or “No commission”. But what you see usually isn’t what you get. If you do a quick Google search or use an online currency converter, you’ll discover that your money is worth much more than an exchange bureau or bank is offering you.

The real rate, based on daily trading that occurs at banks and large global finance markets, is referred to as the mid-market rate. This represents what your money is actually worth. Banks and exchange services, however, will often make up their own, much poorer exchange rate and then pocket the difference.

Figure out if rates are better in Dubai or your home country

Sometimes it makes the most sense to convert your cash from your home bank before you go abroad. Other times, however, you can snag a better deal abroad. Through websites such as finder.com, you can compare and contrast the exchange rate of several services at home and in Dubai.

Avoid exchanging too much cash at the airport or your hotel

Airports and hotels have a monopoly over you, charging higher prices due to a shortage of alternative suppliers. Try to exchange only a small amount – such as what you’ll need before reaching an exchange center with a more cost-savvy rate. Your bank account will thank you later.

Ensure your banknotes are damage-free

If you’ve brought cash with you from back home, make sure those bills in your pocket are in good shape. In Dubai, most merchants will refuse to accept any sort of damaged banknotes to exchange. Banks in Dubai will typically take damaged dirhams from their customers, sending them back to a central bank which replaces them.

If you know someone with a bank account in Dubai, transfer money ahead of time for even better savings

With a TransferWise borderless account, you can hold your money in numerous currencies, including Dirhams, so you can transfer to a bank account in Dubai conveniently and at a low-cost. Additionally, you’ll always get the same rate you see on Google when you convert money within your account.

And, in late 2017, you’ll be able to get a debit card to go along with your Borderless account so you can spend money directly from any of your currencies with ease.

Can I use travellers cheques in Dubai?

You can, but it’s not really worth it. Most shops and restaurants in Dubai won’t accept them, but it’s easy enough to exchange them at banks, exchange offices, and hotels, for a much less favorable exchange rate. It’s much better to simply use cash or a debit credit card if you can, which are much more likely to be accepted in Dubai.

What should I know about using my debit and credit cards in Dubai?

Major providers such as Visa and Mastercard are widely accepted at major restaurants, stores and hotels in Dubai, with other cards such as American Express less likely to be accepted. However, not all smaller stores and grocery shops will accept your card. So take caution, and take cash along with you while you’re there.

Always choose to be charged in the local currency

The good news is that several ATMs in Dubai are free to use, especially those of major banks such as Citibank and HSBC, or any bank that’s a member of the Global ATM Alliance.

On the flip side, when you make purchases with your card, or withdraw money from an ATM, you might run into Dynamic Currency Conversion (DCC). The card merchant or ATM will ask if you’d like to be charged in your home currency rather than the Dirham. It might seem a bit more convenient to do the transaction in a currency you’re more comfortable with. But be warned: you’ll be marked up in price, sometimes at four or more percent, just for the convenience of seeing the numbers in your home currency.

With DCC, you’re granting the local ATM the right to give you whatever exchange rate they feel like, which usually isn’t in your favor. You’re better off doing transactions in the local currency, where your home bank will give you a much better exchange rate, and save you a lot in the long run.

Don’t forget to tell your home bank you’re going to be travelling

It’s happened to many of us. We forget to tell our banks we’ll be heading abroad, and attempt to pay for something with our cards from back home when we arrive. But then we’re told the card has been declined. Don’t let this be you: before you land in Dubai, remember to give your bank or card issuer a heads up you’ll be heading overseas. Otherwise they could think there’s suspicious activity taking place and lock your card.

What are the best practices for using ATMs in Dubai?

A global finance capital, ATMS are found nearly everywhere in Dubai. As long as you have a 4-digit pin number for your card, you can typically withdraw from accounts there.

Still, be sure to watch out for offers to be charged in your home currency rather than the local one. If you see the option, always select to be changed in euros to avoid steeper fees added into poor exchange rates.

If you’re on the lookout for an ATM near you, the website Bankautomat Finder allows you to easily locate ATMs throughout the city.

What are the major banks in Dubai?

Most common retail banks in Dubai

There are several banks operating in Dubai, many with international branches. So if you aren’t sure if your home bank has a branch, it’s worth investigating if they may have a partner in Dubai, which could help reduce overall ATM fees if you find there’s one.

  • Arab Emirates Investment Bank – a boutique bank specializing in both private and investment banking.
  • Commercial Bank of Dubai – founded in 1969, this bank launched the first online personal finance tool in the region.
  • Dubai Islamic Bank – a longstanding bank offering services such as wealth management, in addition to retail banking.
  • Emirates Islamic Bank – Offers many branches and ATMs around Dubai
  • Mashreqbank – Founded in 1967, it’s the oldest bank in the UAE and the first to offer ATMs
  • Emirates NBD – Has more than 220 branches in Dubai and abroad
  • Noor Bank – Offers several services in Islamic banking for retail and corporate clients

International banks operating in Dubai

With a diverse international population, it comes as no surprise that Dubai caters to it’s inhabitants with a broad selection of international banks. Among the larger ones are:

No matter how long you’ll be in Dubai, you shouldn’t have any problem exchanging and spending your money.

Source: https://transferwise.com/gb/blog/money-and-banks-in-dubai

Join Foloosi Business – Sell your Products Online

Foloosi is a UAE online market place facilitating consumer-to-business card payments by enabling businesses to display QR code, share Payment Links and API integrations for their customers to pay conveniently.

Foloosi helps daily transaction in a simple, secure way and never limit payment options.

Features of Foloosi

Mobile Top-Up

Users can recharge local and international mobiles and salik instantly

Bill Payments

Users can pay for local and international services, utility and several other bills and hence selling products becomes easier

International Top-Up

International Mobile Top-ups across 130+ Countries

Scan & Pay

It provides instant, secure and reliable QR code technology and plays a mightier role in online market and online store

Local Shopping

Customers can shop and pay directly from their own smart phones and hence products sales can be increased for merchants

Event Ticket Booking

Book tickets for the events using smart phone which can be verified at the other end using QR scanner

Foloosi has also launched a POS (Point of Sale) system for small and medium-size businesses that will enable merchants to process payments digitally and selling products becomes lighter.

POS software helps to manage your business on your device with the Foloosi POS app. Also adjust items, manage employees, and see real time reports from anywhere.

People of UAE can pay their utility bills online for free using digital payments app Foloosi.  Foloosi had launched a specially designed service to help users pay their bills in just seconds without paying any transaction charges.

Utility bills includes  

Maintain an online store and run & explore your business using Foloosi. Foloosi is a complete solution that seamlessly connect consumers with businesses and is backed by powerful CRM system to provide actionable flow of events resulting in a fast, modern and secure ways of making technology work at its advanced best especially in payments. 

The simplest way to sell your products online

Foloosi online store seamlessly integrates with all aspects of your business and keep online and in-person orders all in one place.

  • Custom domain name
  • Manage inventory
  • Sell in website & social media

Create an account with Foloosi; Share the Payment Link over SMS, Email etc; Customer pays through online payment; get notified once the payment is complete

How to add Products in Foloosi Business

Foloosi is a UAE Fin-Tech startup facilitating consumer-to-business card payments by enabling businesses to display QR code, share Payment Links and API integrations for their customers to pay conveniently

Foloosi create values and hence lots of home and social media based businesses need products listing platform with easy integration.

Now it’s time for the customers. They can view the products, select according to their choice of interest and order and pay within a few seconds.

We help to develop your business with instant innovation readily available. Our group is about advancement, which means you’ll get the chance to profit by the steady upgrades and research that they’re directing

Innovation never rests! You can maintain your business all day, every day and catch trade at all hours of the day.

Foloosi is tied in with addressing needs, which is the reason we put accentuation on successful and exact information accumulation that can furnish our partners with important business experiences.

Please Follow the Guide Steps

Step1: Login https://www.foloosi.com/merchant

Step2: In the Merchant panel left side, you will see the option for Products

Step3: Tap Add Products and enter the details of your productname, description, description and price

Step4: Now your products will be the listed in the Business section of Foloosi Customer App

NOTE:

  • At anytime you can edit, Deactivate the products list in the Merchant panel.
  • You can share the Product URL to customer and get paid via Merchant panel.

UAE fintech startup Foloosi raises $500K in a SEED funding round

Foloosi is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay conveniently.

Foloosi has raised a seed fund of 500k USD from existing investor Rasheed Alfalasi along with new investor Mohammed Alsuwaidi. Around four months back Foloosi has raised a pre-seed fund from Angel fund investor Rasheed Alfalasi

Foloosi was founded in 2018 and launched its product in the year 2019 that enables simple and easy way to accept, process, disburses payment solution for businesses. It helps businesses by providing payment gateway, payment link, subscriptions and POS software. Foloosi’s payment solutions can be integrated by both web and mobile applications.

Foloosi connects merchants with customers while giving an easy way to make payments. We see solid interest from businesses in the UAE for this service, with the transaction volumes reliably growing at above 40 per cent month-on-month. Transacting millions of dirham’s of sales every month was a key achievement for us as the business keeps on growing.

We have achieved one million + AED revenue rate at the end of July 2019 and 300+ businesses signed up to accept card payments and 2000+ users paid through Foloosi to partner businesses. 

We are the only startup in UAE providing many billing solutions facilities and few of them are du top up and bills, Etisalat top up & bill, FEWA, Mawaqif topup, Mawaqif fine, National bond, NOL card, Ajman direct etc.

Products of Foloosi

QR code

Retailers can accept payment easily from customers just by generating one QR code.

Payment link

Sending a payment request and get paid instantly using Foloosi’s payment link.

Payment gateway

Retailers can accept payments in their mobile app/ website with Foloosi payment gateway and customers can pay using this gateway.

Subscription

Enable recurring payment schedule, control the billing cycle and get instant alerts on subscription activity with Foloosi’s Subscriptions.

Multiple currency support

Foloosi supports 150+ currencies for international digital payments, including major currencies like USD, Euro, Pound, and INR.

Foloosi’s POS software helps to manage your business on your device. Also adjust items, manage employees, and see real time reports from anywhere.

In future, Foloosi has planned to launch a business page consisting of detailed information about the business, geo locations and customers can pay using online store without scanning.

The projected revenue was 3M AED by December 2019. The projected revenue for the upcoming year 2020 was 2.5 million AED per month.  As of now our target is GCC countries and soon we have planned to start in Saudi Arabia

Founder/CEO of Foloosi
Omar Bin Brek

“With the support of our strategic investors, we are accelerating the development of our product further in this digital world”

CTO/Co-Founder of Foloosi Mohan K

We conclude that Foloosi’s main target is to provide payment solution for all financial sectors including small, medium and large Enterprises.

Points to Consider Before Integrating a Payment Gateway with Your Mobile App

Everything from hailing a taxi to booking a get-away to requesting a dinner has moved online today. Also, no ifs, ands or buts cell phones are at the cutting edge of this revolution.

Customers today utilize their cell phones over every single other gadget to peruse online, making mobiles the greatest disturbance in the web space.

With ‘mobile first’ turning into the standard, mobile applications are getting to be prominent, yet additionally effective. Mobile applications have been becoming in number as well as in the sort of items and administrations they offer. What’s more, with this comes the requirement for mobile applications to gather payments from clients.

Like every other store in the online world, mobile applications additionally need to incorporate with a payment gateway to deal with payments.

Payment is one of the significant strides in the client venture and henceforth applications ought to guarantee that the payment solution they coordinate with conveys a consistent and advanced payment experience. Also, the payment experience ought to consistently appear to be an expansion of the general application experience.

From instinctive UI to misrepresentation security to investigation, there are various things a mobile application needs to consider before coordinating with a payment gateway. Here are the most significant variables to consider:

Payment Analytics

Online payments are liable to a few angles like payment failures, dropoffs, twofold payments, discounts and so forth, consequently investigation is one of the essential viewpoints to consider while coordinating with an payment gateway.

Examination and reports around significant data like normal page load time, exchange status, portable system utilized (2G, 3G and so forth) and different subtleties like receipt of bank OTP ought to be caught by the payment gateway and gave to shippers.

Analytics is one of the areas that throws light on actual problems and allows apps to optimize its overall payment experience.

User Interface

It is critical to guarantee that the UI offered by the payment portal is something that gels well with your general brand language. The interface ought to guarantee that clients can pay with no rubbing.

The payment gateway ought to guarantee that bank pages are versatile neighborly and improved. Generally, the payment procedure ought to convey minimal number of ventures so as to offer a consistent payment experience.

Customization is another viewpoint to consider while coordinating with a payment passage. Today, payment gateways offer modified checkouts that can incorporate your brand logo and brand hues.

Simplicity of Integration 

The payment portal coordination procedure ought to be simple. Engineer SDKs ought to must be basic, direct and set aside least designer effort for joining. They ought to likewise guarantee that updates are effectively taken care of by shippers without rolling out real improvements to the joining code.

Another significant viewpoint to watch out is the SDK size; SDKs ought to be light so as to guarantee that it consumes least space on clients’ smart phones’, as applications that weigh vigorously on smart phone space chance the opportunity of being erased.

While inquiring about on payment gateway SDKs, it is likewise essential to guarantee that the SDK offers help for your required stage and system. Pick a door that offers multi-stage and multi-system support 

Payment Receipts

When the client has made the payment, conveying a programmed email with subtleties of the exchange and buy made helps in building customer trust.

Since the gateway has direct access to the status of the transaction, it is prescribed that the door sends the affirmation email. Such messages receipts additionally help in expanding brand commitment for the vendor.

Customer Support

Numerous traders regularly neglect client support when searching for payment gateways. Client support helps in tending to issues during joining, yet in addition all payment related issues post combination.

A payment gateway should give powerful help (email, call, talk and so forth) for all payment related questions. 

Settlement Period

While clients and their needs started things out for any vendor, brisk payment settlement cycles guarantee the smooth working of the business. A run of the mill settlement endures anyplace between a couple of days to half a month relying upon the size of your business and nature of industry you work in.

Get all subtleties with respect to settlement period before mix so as to guarantee that it suits the income necessities of your business.

Picking a payment door for your application is a significant choice. Look at all choices and pick the one that comes nearest to needs, be it client experience, designer solace or settlement cycles.

Foloosi Crosses AED 1 Mn Bi-Annual Gross Transaction Value

Foloosi (https://www.foloosi.com) is a UAE Fintech startup facilitating consumer-to-business card payments by enabling the business to display QR code, Payment Link and API integrations for the customer to scan & pay in a tap.

We are very glad to announce that our bi-annual gross transaction value (GTV) had crossed one million AED since going live in January 2019. This is not possible without our Foloosi community, business partners and followers.

Foloosi’s CEO & Co-founder Omar Bin Brek said

We as a team believe that this is the best and ever-green Eid gift reaching our milestone is something special to be celebrated.

We thank our Foloosi community, business partners and followers with grateful heart and wishing them all a happy and prosperous Eid.

Foloosi enables a digital economy empowerment for local businesses, operating merchants and most importantly the e-commerce sector. Foloosi features a wide range of advanced technological products on its modern platform – including the core function of ‘Scan to Pay’ feature, which allows a business to accept card payment by displaying QR code technology.

We have a unique offering, since no other digital platform in our region serve to onboard businesses and consumers alike while complimenting the banking system using the QR code technology.

We distinguish ourselves by offering local financial intelligence educational feeds using machine learning techniques and artificial intelligence, besides great user retainment features such as social event bookings.

Together we have come up with a fresh concept, in line with the UAE’s 2021 vision, complimenting the banking system and an ambitious but achievable plan to build into a thriving new business.

Foloosi’s Co-founder, Mohan K outlined

Foloosi enables simple and easy way to accept, process, disburses payment solution for businesses. We help businesses by providing payment gateway, payment link, subscriptions and POS software. Foloosi payment solutions can be integrated by both web and mobile applications

What is a Payment Gateway and How Does It Work?

Online payments have turned into a piece of our day by day lives in the blink of an eye. We’re executing on the web through debit or Visas as well as through various different modes like UPI, net banking and wallets too.

Furthermore, why not? Online payments are quick and advantageous. They enable you to purchase items and administrations from everywhere throughout the world. In the event that you are a vendor, you can offer to anybody on the planet with a conventional web association. Your client doesn’t need a PC; a cell phone is sufficient.

Paying on the web is a key component that each e- commerce platform on the planet offers. What’s more, they can furnish this facility by incorporating with a payment gateway.

Be that as it may, what precisely is a payment gateway? Is it safe to execute through a payment gateway? Does it bode well for your business to have payment gateway integration? 

What is a payment gateway?

An online payment gateway (PG) is a passage that interfaces your financial balance to the stage where you have to move your cash. A PG is a product that approves you to lead an online exchange through various payment modes like net banking, debit card, platinum card, UPI or the numerous online wallets that are accessible nowadays.

A PG assumes the job of an outsider that safely moves your cash from the ledger to the shipper’s payment gateway.

How payment gateways work?

A payment gateway focuses on verifying the touchy data given by the client all through the procedure. It guarantees security by encoding information like card and bank subtleties that have been given by the client.

The following are the basic steps showing how a typical payment gateway works.

Step 1: A customer places his or her order and then presses the Submit or Checkout button, or its equivalent button, on the website

Step 2: Once this happens, the website or the e-commerce platform takes the customer to a payment gateway where he or she enters all the relevant information about the bank or the card they are using to pay. The PG then takes the user directly to the page of the issuing bank or a 3D secure page, asking for the transaction to be authorized.

Step 3: Once the payment gateway gets the approval for the transaction, the bank then checks whether the customer has sufficient balance in the account to make this transaction a success or not

Step 4: The payment gateway sends a message to the merchant accordingly. If the reply from the bank is a “No’”, then the merchant subsequently sends an error message to the customer, telling them about the issue with the card or the bank account. If the response is a “Yes” from the bank portal, then the merchant seeks the transaction from the bank

Step 5: The bank settles the money with the payment gateway, which in turn settles the money with the merchant

When this procedure is finished, the client gets an affirmation message of the request being put. 

As referenced before, the exchange of cash includes touchy data about an individual’s bank and card subtleties that are completely close to home to the person in question. Along these lines, it is basic to ensure that this data remains safe.

How payment gateways keep information secure?

A payment gateway guarantees the security of the data you put in. Here is a rundown of things that a PG does to protect your information:

First of all, the whole exchange is brought out through a HTTPS web address. This is not quite the same as the HTTP as the S in the HTTPS represents Secure. The exchange happens through this equivalent passage

Because of the hash work, the framework frequently utilizes a marked solicitation from the vendor to approve the solicitation of the exchange. This marked solicitation is a mystery word, which just the dealer and the payment gateway know

To verify the payment page aftereffect of the procedure, the IP of the mentioning server is checked to identify any malevolent action

Virtual Payer Authentication (VPA) is something that the acquirers, guarantors and the payment gateways are sponsorship to verify the procedure much more. VPA, actualized under the 3-D secure convention, includes an extra layer of security and helps the online purchasers and merchants to validate each other effectively

Benefits of using a payment gateway:

Utilizing a payment gateway isn’t only for moving cash, yet it has different advantages also. A PG can enable a shipper to give the client improve understanding.

PCI-DSS Wallet – The PCI-DSS consistence makes it secure enough to enable the client to store their own information in the entrance or passage for repeating payments. 

White-Label Wallet – Payment gateways enable you to make computerized exchanges through versatile wallet applications. This is the present pattern, as it empowers the client to make every one of his exchanges by simply sitting at one spot. You can get your cash from the record equalization to the portable wallet application and afterward further use it to make payments on different applications or sites

Extortion Screening Tools – Many payment gateways furnish you with misrepresentation screening instruments to decrease the danger of losing data. These apparatuses incorporate the Card Code Value (CCV), Card Verification Value (CVV) or even the Address Verification Service (AVS). These apparatuses guarantee that there is no deceitful exchange

A payment gateway focuses on creating a safe pathway between a client and the dealer to encourage payments safely. It includes the confirmation of the two gatherings from the banks included.

The most significant advantage of a payment gateway is the way that it enables a huge number of clients to utilize it in the meantime, making it feasible for you to buy or sell products and ventures at whatever point you need.

BEST PAYMENT GATEWAY IN UAE

1. Foloosi

2. Telr

3. PayFort

4. CashU

5. PayTabs