Messaging application WhatsApp has initiated discussions with Indian banks and other institutions to allow its users to make payments via United Payments Interface (UPI), which facilitates instant fund transfer between two bank accounts on the mobile platform. With UPI allowing instant settlement of funds between peers, all banks need to do is to integrate their systems with WhatsApp, which can identify the correct recipient. Read more at: http://economictimes.indiatimes.com/industry/banking/finance/banking/you-may-transfer-money-via-whatsapp-soon/good-news-for-you/slideshow/59281092.cms

 In choosing a payment gateway one must not only consider the logistic and technical hurdles, but also the security it provides. It is a merchant service used as third party to authorize credit transactions. First, you need to decide whether you need a classic; require you to apply for a direct merchant account or modern setup; allow you to use their services without one and are easier to set up, but have higher. Most gateways strive for compatibility though they are easier to integrate. In order to maximize the average user experience and make transactions fast, a processor that can secure credit card authorization in seconds matters. A gateway with thorough reporting features is required. If a business plans for handling huge data it has to look for fraud detection and other security features. One with built-in invoicing capabilities and better usability. Finally, you’ll need to consider the costs and fees associated with each payment gateway. There is no perfect payment gateway out there, so one need to find the best fit for your specific business. Read more at: https://www.entrepreneur.com/article/294964

Getting people to visit your website is not so easy especially today. If you are using the payment the third party or payment redirection then you are giving opportunity to your customer to go away and never come back. This article by Sandra Wrobel-Konior(Content marketing manager) discusses about the cons of payment redirection. Cons of Payment redirection:

1. Client’s reaction: When a customer adds some product to the cart and goes to payment button and then if it is redirected to an external website with different logo and URL, then it may discourage, creates a confusion and frustration.

2. Control and customer support: In case the payment process goes wrong, then due to third party you may have limited access over what is happening and you can’t fix it immediately.

So, for customer satisfaction, attraction and retention you should create your payment gateway and ensure the security, seamless and hassle free operation. Read more at:

http://www.business2community.com/cybersecurity/payments-redirection-affect-business-01744133#I2bbOtz6T6YdoQ6G.97