E com shipping and taxation

1. PAYMENT GATEWAY:
WAYS OF ONLINE AND
OFFLINE PAYMENT
E-commerce
Abdul Muneeb (BSIT51F20S042)
Hamza Shoaib (BSIT51F20S029)

2. Content:
■ Introduction
■ Payment gateways
■ How it works

3. Introduction:
■ Sure thing! A payment gateway is like the digital cashier of the online shopping
world. It's a technology that allows e-commerce websites to accept payments
from customers. Think of it as a secure bridge between the customer's bank
and the online store.
■ When you buy something online, the payment gateway encrypts your data to
ensure a secure transaction. It plays a crucial role in authorizing the payment,
transferring the money, and providing feedback to both the customer and the
merchant about the status of the transaction.

4. Popular gateway methods:
■ Popular payment gateways include PayPal, Stripe, and Square. They support
various payment methods like credit cards, digital wallets, and sometimes
even cryptocurrency. The idea is to make the buying process smooth and
secure, creating a win-win for both shoppers and online businesses.

5. Payment gateway
■ A payment gateway in e-commerce is a secure technology that enables online
businesses to accept and process payments from customers. It encrypts and
transmits payment information between the customer, the e-commerce
website, and the financial institutions involved, ensuring a secure and
seamless transaction.

6. How it works?
■ Here's how it generally works:
o Customer makes a purchase: You decide to buy that fancy gadget you've
been eyeing.
o Entering payment details: When you're ready to pay, you enter your credit
card information or choose another payment method.
o Encryption: The payment gateway encrypts this sensitive information, turning it
into a secure code. It's like putting your data in a digital safe.

7. Continue…
o Authorization: The encrypted data is then sent to the payment processor and
the customer's bank for authorization. The payment processor is like the
messenger between the bank and the gateway.
o Transaction approval or decline: The customer's bank checks if there are
enough funds and approves or declines the transaction.
o Confirmation: The payment gateway then sends the result back to the e-
commerce site and the customer. If approved, congratulations, you've just made
a successful purchase!

8. Future trends in payment:
o Emerging Trends:
o Contactless Payments: Tap-and-go transactions for speed and convenience.
o Biometrics: Fingerprint and facial recognition for secure user authentication.
o Technology's Impact: Advancements shape a future with:
o Enhanced Security: Biometrics and tokenization.
o Convenience: Contactless and voice-activated payments.
o Innovation: Cryptocurrencies, IoT, and AI for fraud detection.