How to Accept Payments Online — Retail Technology Innovation Hub

Many companies have realized the importance of selling their products and services online. They do this because it’s very convenient for shoppers.

The main selection criterion is a minimum amount of commission and the ability of the buyer to choose a transaction method that suits him.

How can a customer checkout on your website?

After the order is formed, the customer must provide a method to complete an online transaction.

Among the most common options for implementing this functionality is the form on the site. A “Pay” button is the best option for a landing page.

After clicking on the “Pay” button, the client fills out the form that appears on the screen and selects the method of transferring funds. There are two main ways to provide such acquisition: using banks or aggregators like

● Integration with payment services. The best option for online stores. The customer can only pay after adding the product or service to the cart.

Once the order has been placed in the shopping cart, the customer will see the “Pay” button. By clicking on it, the customer sees the composition and amount of his order.

After completing the transaction, the customer is returned to the shopping cart page, receives a notification that the transaction was successful, and the online store owner sees the order status in the site admin panel.

Generation of payment links. The seller can generate a link to pay for the order and send it to the customer in any convenient way.

By clicking on this link, the customer arrives on the page with the “Pay” button, which reflects the product and/or service ordered and the amount due. This is very practical in the case of instant messaging.

Acquisition on the Internet is an indispensable tool

It is the most popular way to make payments online. This is a transfer of funds from the buyer’s bank card to the seller’s account with the participation of the bank and the processing company.

The processing company provides an interface to make an online purchase and performs the procedure for debiting or crediting the money.

Payment information is confirmed using 3D-Secure protection technology, which authenticates the buyer, for example by sending an SMS.

Bank acquiring

Banking gateways act as providers for internet acquiring. They connect buyers, sellers and banks and act as a sort of terminal for transactions. Payment data is transmitted using the SSL protocol.

The benefit of payment gateways is the ability for an online store to accept card payments simultaneously through multiple banks using a single, streamlined integration with the gateway.

Such interaction improves payment conversion and enables instant switchover from one bank to another in the event of a breakdown or routine maintenance in the bank’s processing.

Another advantage is the possibility of obtaining more favorable financial conditions and quality of service: obtaining financial reports for accounting, analyzes of accepted payments, information on conversion and ways to improve it, as well as 24 hour support.


Aggregators are payment services that act as intermediaries between an online merchant and banks or systems that process payments.

From a technical point of view, there are differences between these services, but in practice the essence is the same – they allow you to connect many different payment methods at the same time.

Aggregators accept card and e-wallet payments from different payment systems. Some of them act as agents – you don’t have to use the CCP and some allow you to withdraw funds up to twice a day.

As part of an agreement with the aggregator, the money is first transferred to its special account and then to your current account. Some services charge a commission immediately after the transfer of the amount, and some – at the end of the transaction period.

If you sell products on Instagram or other social networks and instant messengers, you can choose one of the options listed above. Aggregators allow customers to send links to the payment gateway. And when paying via e-wallet, you can simply share the details.

Anne G. Cash