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How do Payment Gateways Differ from Payment Orchestrators

Payment Gateways vs Payment Orchestrators
Mohab Payment Orchestration 0

Payment Gateways vs Payment Orchestrators
In the world of online payments, businesses have a choice between using payment gateways or payment orchestrators. While both facilitate the transfer of funds from customers to merchants, there is a key difference between payment processing and payment orchestration. A payment gateway primarily focuses on payment processing, while payment orchestrators offer a broader range of payment-related services and integrations. In this article, we will explore the differences between payment gateways and payment orchestrators, how they work, and which one might best fit your business needs.

What are Payment Gateways?

Payment gateways are a critical component of the online payment ecosystem, allowing businesses to accept electronic payments securely and efficiently from customers. Essentially, a payment gateway acts as a digital point of sale, allowing customers to make payments using their credit or debit cards or other payment methods.

When a customer initiates a payment on an e-commerce website, the payment gateway encrypts the payment information and sends it to the payment processor, which then verifies the payment details and sends them to the customer’s bank for approval. Once the bank approves the payment, the funds are transferred from the customer’s account to the merchant’s account, and the transaction is complete.

Payment gateways offer several important features to ensure payments are processed securely and efficiently. One of the primary functions of a payment gateway is fraud detection. Payment gateways use sophisticated algorithms and machine-learning techniques to analyze transaction data and identify patterns that may indicate fraudulent activity. This helps to protect both merchants and customers from fraudulent transactions.

Payment gateways can automatically convert payments made in foreign currencies into the merchant’s local currency, making it easy for businesses to accept payments from customers all over the world. They are also capable of executing chargebacks. A chargeback occurs when a customer disputes a transaction, often because he/she did not receive the expected product or service. Payment gateways can help merchants manage chargebacks by providing tools for tracking and resolving disputes.

How Do Payment Gateways Work?

When a customer makes a payment online, the payment gateway acts as the intermediary between the customer, the merchant, and the payment processor. Here’s how it works:

  1. Customer Initiates Payment: The customer selects the products or services and proceeds to checkout.
  2. Payment Information: The customer enters the payment information, including the credit/debit card number and billing address, into the payment gateway’s secure web form.
  3. Encryption and Data: The payment gateway encrypts the payment information and sends it securely to the payment processor.
  4. Transaction Authorization: The payment processor verifies that the customer’s payment information is valid and that the person has sufficient funds to make the purchase.
  5. Transaction Processed: The payment processor sends an authorization code back to the payment gateway, indicating that the transaction has been approved.
  6. Transaction Complete: The payment gateway completes the transaction by sending the authorization code to the merchant and debiting the payment from the customer’s account.

What are Payment Orchestrators?

Payment orchestrators are comprehensive payment solutions that go beyond just facilitating funds transfer and include a wide range of payment-related services. They are designed to help businesses manage all aspects of their payment processing operations in a streamlined and efficient manner.

One of the key features of payment orchestrators is subscription management. Many businesses operate on a subscription-based model, and payment orchestrators make managing recurring payments and subscriptions easy. This includes features such as automated billing and payment reminders, as well as tools for managing customer data and subscription plans.

Payment orchestrators can automate the invoice creation process, making it easy for businesses to send invoices to customers and track payments. This helps reduce errors and streamline the payment processing workflow. Dispute resolution is another key feature of payment orchestrators. Disputes can stem from several reasons, such as billing errors or product/service disputes. Payment orchestrators can help businesses manage these disputes by providing tools for tracking and resolving disputes, as well as features for issuing refunds or credits.

Additionally, payment orchestrators often offer a wide range of integrations with other systems, such as accounting software, customer relationship management (CRM) tools, and e-commerce platforms. This makes it easy for businesses to manage all aspects of their payment processing operations in a single, centralized platform.

How Payment Orchestrators Work

Payment orchestrators work in a similar way to payment gateways but with additional features and functionality. Here’s how it works:

  1. Customer Initiates Payment: The customer selects the products or services he/she wants to purchase and proceeds to checkout.
  2. Payment Information is Entered: The customer enters the payment information, including the credit or debit card number and billing address.
  3. Data Encryption: The payment orchestrator encrypts the payment information; it is then sent to the payment processor.
  4. Transaction Authorized: The payment processor verifies that the customer’s payment information is valid and whether the person has the requisite funds to go ahead with the purchase.
  5. Authorization Recall: The payment processor sends an authorization code to the payment orchestrator. This indicates that the transaction has been duly authorized.
  6. Transaction Complete: The payment orchestrator completes the transaction by sending the authorization code to the merchant and debiting the funds from the customer’s account. In addition, the payment orchestrator may also perform additional tasks, such as generating invoices, managing subscriptions, and providing dispute resolution services.

Difference Between Payment Gateways and Payment Orchestrators

While payment gateways and payment orchestrators are both important components of the online payment ecosystem, there are some key differences between the two. Some primary differences are listed below:

● Scope

Payment gateways are primarily focused on facilitating the transfer of funds from the customer to the merchant. In contrast, payment orchestrators offer a broader range of payment-related services, including subscription management, invoice creation, and dispute resolution.

● Integration

Payment gateways typically offer limited integration options, focusing primarily on integrating with payment processors and other key systems. On the other hand, payment orchestrators often offer a wide range of integrations with other systems, such as accounting software, CRM tools, and e-commerce platforms.

● Customer Relationship

Payment gateways often have limited interaction with customers, as they are primarily focused on processing payments. Payment orchestrators, on the other hand, often provide tools for managing customer data and interacting with customers, such as through automated billing and payment reminders.

● Complexity

Payment gateways tend to be more straightforward than payment orchestrators, which can be more complex due to their broader range of features and integrations. As a result, payment gateways may be a better choice for smaller businesses or those with simpler payment processing needs. Payment orchestrators may be more suitable for larger companies with more complex payment processing requirements.

● Pricing

Payment gateway pricing typically consists of a per-transaction fee, while payment orchestrators may charge a monthly subscription fee or a percentage of sales revenue. Payment orchestrators may also charge additional fees for certain features, such as dispute resolution or subscription management.

Conclusion

Payment gateways and payment orchestrators are both essential tools for businesses looking to accept payments online. But understanding the difference between payment orchestrators vs payment gateways is essential. Both offer different levels of functionality and integration. Payment gateways are ideal for businesses that only require basic payment processing services, while payment orchestrators are better suited for businesses that need a more comprehensive set of payment-related services. Choosing between payment gateways and payment orchestrators will ultimately depend on a business’s needs and priorities.

2 years ago
Paymes Beneficial for Freelancers
Mohab Social Commerce 0

Paymes Beneficial for Freelancers

Freelancing can be a tough path to choose. You are always hungry to land more clients but also have to be cagey about the ones you’re already working with. While showcasing your skills and abilities to help a client remains the top priority for almost every freelancer, timely payments are also a matter of significant concern. After all, freelancers don’t have a steady source of income and rely on their clients to pay diligently for the work delivered.

The nature of a freelancer’s work compels them to work with different clients from around the world. While this is good for creating a varied portfolio, it creates difficulties in accepting payments from clients. This is where payment solutions like Paymes come in handy for freelancers.

Paymes is a payment platform designed to make transactions easy and secure for freelancers. The platform is fast becoming a popular option for those who work as freelancers, as it offers many benefits that traditional payment methods do not. In this article, we will explore what Paymes is and how freelancers can use it to their advantage.

What is Paymes?

Designed especially for freelancers, Paymes is a user-friendly payment platform that helps them streamline the payment process. It provides several benefits and features to freelancers making Paymes their preferred payment platform. Freelancers can easily track payment status, create or customize invoices, set up automatic reminders for unpaid invoices, and much more.

Freelancers can accept payments via digital wallets, bank transfers, credit cards, or directly from the client through a feature called “Request Payment”. It also provides multiple currency support, making it an ideal option for freelancers working with clients from around the world. Paymes charges a nominal transaction fee and doesn’t charge any payments for using the platform. It can also integrate with various accounting and business management tools allowing freelancers to manage their business and payments without any hassle.

When it comes to security, Paymes leaves no stone unturned and complies with several industry standards such as PCI DSS, PSD2, and GDPR to ensure that your transactions, as well as sensitive information, are secured and away from the reach of any malicious attempts.

How do Freelancers Use Paymes?

Freelancers can use Paymes in several ways to manage their payments and streamline workflow. Here are some key benefits of using Paymes for freelancers:

● Invoicing and Payment Tracking

Freelancers can easily create and customize invoices using Paymes. They can add their business logo, itemize the services provided, add terms and conditions, and specify the payment due date. Once the invoice is sent, freelancers can track the payment status and set up automatic reminders to follow up on unpaid invoices. Freelancers can also view the entire payment history, including the amount, date, and payment method used.

● Accepting Multiple Payment Options

Paymes provides multiple payment options, including credit cards, bank transfers, and digital wallets, which allows freelancers to cater to their clients’ preferred payment methods. Its Request Payment feature allows freelancers to ask for payments directly from clients by sending them a payment link via email, SMS, or social media.

● International Payments

Paymes supports multiple currencies and offers competitive exchange rates for international transactions. Freelancers can receive payments in their preferred currency without worrying about high conversion fees or fluctuations in exchange rates. Moreover, Paymes also handles the complexities of international payments, such as compliance with regulations and taxes.

● Secure Transactions

Paymes uses advanced encryption and security measures to protect the sensitive information of freelancers and their clients. It complies with industry standards, like GDPR, ensuring all transactions are secure and data privacy is protected.

● Competitive Fees

Paymes charges a competitive fee for each transaction, which means that freelancers can keep more of their earnings. It doesn’t charge any setup, monthly, or subscription fees. Freelancers can also save money on transaction fees by grouping multiple payments in one transaction.

● Integration with Other Tools

Paymes integrates with various accounting and business management tools, such as QuickBooks, Xero, Trello, and Slack, making it easier for freelancers to manage their payments and work. By integrating Paymes with these tools, freelancers can streamline their workflow, reduce errors, and save time.

Conclusion

Paymes is one of the most popular payment platform for freelancers working in the Middle East. It offers them a plethora of benefits that help simplify and streamline their payment process, ensuring faster payment processing, improved cash flow management, and secure transactions. With multi-currency support and competitive fees, freelancers can now work beyond traditional boundaries and interact with clients worldwide. Paymes is a reliable and user-friendly platform allowing freelancers the liberty to focus on their work and grow their businesses. Additionally, its integration with other tools helps lessen errors and saves time. It is a must-have tool for freelancers looking to optimize their payment process and take their business to the next level.

2 years ago
Receive Payments for Freelance Work
Mohab Social Commerce 0

Receive Payments for Freelance Work

As more and more people opt for freelance work as a full-time career or a part-time side hustle, one of the most important aspects to consider is receiving payments for services rendered. Freelancers often face challenges when it comes to getting paid on time, dealing with unreliable clients, and managing multiple payment methods. This article aims to explore these issues and provide solutions for how they can receive payments for freelance work.

Issues Freelancers Face with Payment

One of the main issues freelancers face is delayed payments or non-payment by clients. This can be frustrating and disruptive to a freelancer’s cash flow, especially when they rely on the payments to pay their bills and other expenses. Additionally, freelancers have to deal with multiple payment methods and currencies, which can be confusing and time-consuming.

Another issue is managing payment records and invoicing, which can be overwhelming and stressful, particularly for freelancers who are new to the industry. Furthermore, freelancers are often required to pay high transaction fees, which can add up and eat into their earnings.

What are “Checkout Portals”?

Checkout Portals are networks that offer digital payment services. They are essential for freelancers who need to receive payments for their services. These online platforms act as virtual cash registers, enabling freelancers to accept and process payments electronically. When a client wants to pay for a freelancer’s services, they enter their payment information, which is then securely transmitted to the checkout portal. The checkout portal verifies the payment information, and either approves or declines the transaction. If the payment is approved, the checkout portal then transfers the funds to the freelancer’s account.

One of the main benefits of checkout portals is their ability to provide secure payment processing. These portals use advanced encryption technology to protect sensitive information such as credit card details and bank account information. This ensures that all transactions are secure and that the freelancer’s personal and financial information is protected. Additionally, such portals offer simplified payment processing, multiple payment options, lower transaction fees, increased professionalism, and faster payment processing. Freelancers can use a checkout portal like Paymes to ensure their payment processing is secure, efficient, and convenient.

What is Paymes?

Paymes is a mobile payment solution, which enables freelancers to accept payments through their mobile phones, making it a convenient option for those who are always on the go.

One of the main benefits of using Paymes is that it allows freelancers to accept payments from clients who do not have a credit card or a bank account. Clients can simply scan the QR code generated by the freelancer’s Paymes app to make a payment.

Paymes also provides a secure payment processing platform that uses advanced encryption technology to protect sensitive information. Freelancers can track payment history, generate invoices, and receive real-time payment notifications, making it easier to manage their payment records.

Benefits of Using Paymes for Freelancers

sPaymes offer a range of benefits for freelancers when it comes to receiving payments for their services. In this section, we will explore some of the key benefits of using Paymes for freelancers.

● Secure Payment Processing

One of the primary benefits of using Paymes for freelancer payments is the added security it provides. Paymes uses advanced encryption technology to protect sensitive information like credit card details and a freelancer’s bank account information. This ensures that all transactions are secure and that the freelancer’s personal and financial information is protected.

● Simplified Payment Processing

By simplifying payment processing for freelancers, Paymes allows them to manage all their payment records in one place. They can generate invoices, track payment history, and receive real-time payment notifications. This not only makes it easier for freelancers to manage their finances but also ensures that they have a clear record of all transactions.

● Multiple Payment Options

Paymes provide freelancers with multiple payment options, which is particularly important for those who work with clients from different parts of the world. It allows freelancers to accept payments in multiple currencies, which can save time and money that would have been spent on currency conversion and other fees.

● Lower Transaction Fees

Another benefit of Paymes for freelancers is that it can help to reduce transaction fees. Paymes charges lower fees than traditional payment methods such as wire transfers or checks. This means that freelancers can keep more of their hard-earned money and avoid paying high transaction fees.

● Increased Professionalism

Using Paymes can also help to increase a freelancer’s professionalism. It allows freelancers to generate professional-looking invoices and payment receipts, which can help to enhance their credibility and reputation. This can be particularly important for freelancers just starting out and looking to build their client base.

● Faster Payment Processing

Paymes offers faster payment processing to freelancers allowing them to receive payments instantly. This is predominantly significant for freelancers who depend on a steady income stream to cover their living costs and other expenditures. Payments are typically processed within a few days, which means that freelancers can receive their money more quickly than with traditional payment methods.

Conclusion

When it comes to receiving payments, freelancers face numerous challenges. These challenges can be overcome by using Paymes. It provides a secure and efficient way to process payments, simplify payment records management, and enable freelancers to accept payments in multiple currencies. It has gained significant popularity in the UAE and the Middle East market, and provides a range of services to businesses and freelancers. It is a simple and convenient way to receive freelance payments. With its user-friendly platform, multiple payment options, and excellent customer support, Paymes has become a trusted name and a popular choice for freelancers looking to process payments online, particularly in the UAE and the Middle East.

2 years ago
Digital Onboarding Work
Mohab Ecommerce 0

Digital Onboarding Work

Time has become the most valuable thing in the modern world. Companies are constantly seeking ways to increase efficiency and productivity, especially when it comes to the hiring process. Traditional onboarding, which involves filling out paperwork and attending in-person orientation sessions, can be time-consuming and costly. The solution to this is paperless or digital onboarding.

Digital onboarding is the process of using digital technology to facilitate the hiring and orientation of new employees. By leveraging technology, companies can create a seamless onboarding experience that sets new employees up for success from day one. From online forms and document signing to training modules and benefits enrollment, digital onboarding streamlines the process and saves time and money.

But digital onboarding isn’t just about efficiency and cost savings. It also improves accuracy and compliance, reduces the risk of errors, and enhances the overall employee experience. With digital onboarding, new hires can complete the process at their own pace and on their own time, making for a more flexible and stress-free experience.

In this article, we’ll explore digital onboarding, its benefits, and how it works. We’ll also look at who can benefit from digital onboarding and what the process looks like. By the end of this article, you’ll have a better understanding of why digital onboarding is such an important development in the world of human resources.

What is Digital Onboarding?

Digital onboarding is a process that uses digital tools and technologies to facilitate the hiring and orientation of new employees. It replaces traditional paper-based processes with online forms, document signing, and electronic training modules. The digital onboarding process typically starts as soon as a job offer has been accepted, with new hires receiving an email with a link to the organization’s online portal. From there, the process can include video-based training modules or gamified learning experiences to introduce new hires to the company culture and policies, as well as quizzes or interactive exercises to reinforce key concepts. The goal of digital onboarding is to make the process as efficient, accurate, and engaging as possible.

Who needs Digital Onboarding?

Digital onboarding can benefit any company that hires new employees on a regular basis. It is especially useful for companies with remote or distributed teams, allowing new hires to complete the onboarding process from anywhere in the world. It is also useful for companies that have a high volume of new hires or experience seasonal fluctuations in their hiring needs, allowing them to save time and reduce the workload on their HR teams. Digital onboarding can benefit employees, allowing them to complete the onboarding process at their own pace and on their own time, reducing stress and making for a more positive onboarding experience. By providing a seamless and engaging onboarding experience, companies can set new hires up for success from day one.

What Does the Digital Onboarding Process Look Like?

The digital onboarding process can vary depending on the software or platform being used. Some of the steps typically involved are:

  • Pre-boarding: The digital onboarding process typically starts before the employee’s first day on the job. This may include sending out welcome emails, providing access to online training materials, and assigning tasks for completion before the employee’s start date.
  • Online Forms and Document Signing: New hires are guided through online forms and signing various documents, such as I-9 and W-4 forms, to ensure that all required information is collected and securely stored.
  • Electronic Training Modules: New hires complete online training modules that may include video-based training, gamified learning experiences, and interactive exercises. This introduces new hires to the company culture and policies and reinforces key concepts.
  • Communication and Support: Throughout the digital onboarding process, new hires have access to online communication tools and support resources, such as FAQs and chatbots, to help them navigate the process.
  • Performance Tracking: Digital onboarding tools track new hires’ progress through the process, providing HR teams with insights into completion rates, feedback, and areas for improvement.
  • Access to Company Systems: Once the onboarding process is complete, new hires are granted access to company systems and tools, allowing them to begin work and contribute to the company’s goals.

What are the Advantages of Digital Onboarding?

● Increased Efficiency and Cost Savings

By replacing manual, paper-based processes with digital tools, digital onboarding saves time and reduces costs. The process can be completed faster and more accurately, with fewer errors and less administrative work for HR staff.

● Improved Accuracy and Compliance

Digital onboarding reduces the risk of errors and helps ensure all required forms and documents are completed accurately and on time. This helps companies comply with legal and regulatory requirements, reducing the risk of fines and legal issues.

● Enhanced Employee Experience

By providing a seamless and engaging onboarding experience, digital onboarding sets new employees up for success from day one. t allows them to complete the process at their own pace and at a convenient time, reducing stress and improving the overall onboarding experience.

● Increased Engagement and Retention

By using gamified learning experiences, quizzes, and interactive exercises, digital onboarding can increase employee engagement and retention. This helps ensure that new hires are fully invested in the company culture and their roles. This, in turn, improves long-term employee performance.

● Flexibility and Scalability

Digital onboarding can be customized to fit the needs of any company, whether they have a small, centralized team or a large, geographically dispersed workforce. It can be used to onboard employees in any location at any time, making it a flexible and scalable solution for companies of all sizes.

● Data-driven Insights

Digital onboarding tools can provide companies valuable data on employee engagement, completion rates, and feedback. This data can be used to improve the onboarding process over time and ensure that new hires get the support they need to succeed.

Conclusion

Digital onboarding is a game-changer in the world of human resources. It simplifies the hiring process, reduces costs, and increases efficiency, making it an attractive option for businesses of all sizes. By leveraging technology, companies can create a seamless onboarding experience that sets new employees up for success from day one. With the right software or platform, digital onboarding can be a simple and effective way to welcome new hires and ensure a smooth transition into the workplace. As technology continues to evolve, we can expect digital onboarding to become even more prevalent in the years to come.

2 years ago