Payment gateway shares the transactional information between payment portals and processes the payments between sender and receiver. Payment gateways are the backbone of eCommerce businesses and there is a number of options to integrate. These are the most secure methods for executing transactions, as the data of payment processors remain encrypted throughout the whole course of action. The credits cards are linked to authorize the transactions. The whole complicated process only takes a few seconds and it is the most reliable and rapid way of sending and receiving funds.
Why eCommerce Website Need to Restrict Payment Gateways?
Often eCommerce store confronts with an issue of receiving payments from customers that resides in areas where the particular payments methods are restricted. This happens because of insufficient regulatory standards, undermined security measures and certain unknown reasons. Several payment methods are not much effective in some regions, so it is appropriate to restrain those transaction processing portals.
The online stores also tend to restrict payment methods for specific customer groups based on their transaction history. Because of certain issues, many payment gateways delay the transactions for having issues recording the personal details of customers or processing the online store’s bank details. This may take days or even months to interpret and both merchants and customers have to experience inconvenience.
The vendors often get frustrated by high tax rates imposed by shipping agencies or regions. It makes it more challenging for them to ship high priced products to those areas; hence, they find ways to get away with these circumstances.
The ideal solution of getting saved from this sort of pitfalls is limiting certain payment methods to certain customers groups or specific products.
How to Restrict Payment Gateways
Instead of hiring a developer and making changes in the code of your online business domain, Make use of high-end extensions to streamline the workflow. There are numerous extensions available to purchase from online marketplaces. Magento 2 Payment Restrictions is one of the most reliable and easy to integrate extensions that come with a variety of features to limit the scope of components in your eCommerce platform.
The extension is capable of restricting payment methods that can’t resonate with certain customer groups and specific regions. You can specify rules and standards to narrow down the exposure of elements using the services of payment gateways. Now hiding payment methods is easier with the integration of one extension. So, customers can only view those shipping methods that make convenient shipping possible. The extension allows;
- Limiting products because of their shipping issues in specific cities, states or countries.
- Tagging the whole bunch of products for reservation.
- Limiting certain customers from utilizing some payment methods by analyzing the payment history or shopping behaviors.
- Restricting the number of products against each purchase when choosing from the cart and limiting product attributes to the certain payment gateways.
- Restrain particular stores to utilize distinct payment gateways based on the constraints applied by territories. So, make use of those payment methods that offer seamless services in those regions and are trustworthy.
- Setting time-frame for restrictions, so you can set duration for payment method restrictions on product or product catalog prior to the occasions.
Before integrating a payment gateway makes sure that it offers seamless features to facilitate smooth transactions. Some payment methods don’t allow sending and receiving funds linked to high–risk businesses so be certain that it should allow processing transactions for your business. Also, keep track of setup fees, processing fees, and refund fees charged by those companies that are sometimes staggering.