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Comparitive Study on Payment Gateways

Comparitive Study on Payment Gateways

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Published by Deepthi Edison

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Published by: Deepthi Edison on Jun 24, 2012
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12/21/2012

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IJCST V
ol
. 2, I
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CT
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eC
. 2011
ISSN : 0976-8491(Online) | ISSN : 2229-4333(Print)www.ijcst.com
 
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Abstract
E-commerce payment gateway is the access point to the onlinebanking network. All online transactions must pass througha payment gateway to be processed. The payment gateways
act as a bridge between the user’s website and the nancial
institutions that process the transaction. Gateways processthe different transactions between user and web browser. Apayment gateway authenticates and routes payment. In thispaper we have focused on different e-commerce paymentgateways, and also have a deep comparative study, analysisof different online Gateways. An Internet e-commerce paymentgateway is a critical infrastructural component to ensure thatsuch transactions occur without any hitches and in total securityover electronic networks.
Keywords
Ecommerce payment Gateways, CCAvenue Gateway, Paypal,DirecPay, EBS, ABC Payments, HDFC , ICICI Payseal, TransecuteGateway.
Comparison of Different Payment Gateways
The criteria that are important while evaluating a paymentgateway: In this paper we have described comparative studyof different e-commerce payment systems which are:1. CCAvenue Gateway2. Paypal Gateway3. DirecPay Gateway4. EBS Gateway5. ABC Payments Gateway6. HDFC Gateway7. ICICI Payseal Gateway8. Transecute GatewayDifferent criteria and services are described belowthrough the comparative study of payment gateways .Allthese payment gateways focus on different factors assecurity, cost, support, dispute resolution, internationalpayments, transaction time, supported banks andtools and features. These are shown below in tabulationrepresentation.
S.NoGat ewaysSecurityCostCustomerCare &SupportDisputeResolutionProcessing throughInternati-onalPaymentsReal-time &TransactionTimeReporting Support forMultiple BanksTools andFeaturesOffered1CCAvenueGateway1.Security
rewall
2. Riskmanagementtools3. FraudFilters1. Rs7,500 asonetime non-refundableset up fees2. with 7%transactionfees forcards or3. 4%transactionfees for netbanking and mobilepayments+ Rs 1200as annualmaintenancecharge1. Commerceserviceprovider,2. Real TimeTransactionsand response3. ProvideTechnicalsupport4. Support fornet banking transactions5. Support24*71. Streamlinedisputeresolutionprocessesthroughthe use of automatedtools topreventinvalidexceptionitems.VISA,MASTERCARD,AMERICANEXPRESS,DINERSCLUBJCBCARDSCITY BANKECARDS,DISCOVERNOVUS,CARTEBLANCHE,1. Optimumtransactiontime : Thetransactionis completedbetween 30seconds anda minute.2. Thisenables thewebsitesto transactand acceptpaymentsonline and inreal time1. HDFC2.Bank of Rajasthan3. ICICI4.Kotak5.Citibank6.OrientalBank of Commerce7. Axis8. Jammu& Kashmir9. IDBI10.CorporationBank11.Standardchartered Bank16.CenturianBank of Punjab17.State Banks18.HSBC19. Union Bankof India20. PunjabNational Banketc.1. creditcards, debitcards, netbanking,mobilepayments,cash cards2. DebitCardAcceptedas: VISA ,MASTERCARD3.
 
AdditionalFeatures: Live Chat,shopping cart ready,instantSMS, email,Detailedreports
The Comparative Study o Diferent E-CommercePayment Gateways
1
Kavita,
2
Dr. U.S. Pandey
1
Jagannath, University Jaipur, India2Open learning Delhi University, Delhi, India
 
IJCST V
ol
. 2, I
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4, o
CT
. - D
eC
. 2011
ISSN : 0976-8491 (Online) | ISSN : 2229-4333(Print)www.ijcst.com
62 
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2PaypalGateway1. DualPrivacy2. securityKey System3.DataEncryption4.Transactionmonitoring 5. Safer andFasterPayPal isFREE andprotects yourpurchases1. Onlinesupport2. Multicurrencysupport3. PayPal’s
 support
 staff isorganized intodepartmentsthat specialize
in specic
customerconcerns.4.PayPalMerchant
Technical
 
Support
isready toassist withintegrating PayPal onwebsite.1.Mostcarefullyresolvetransactiondisputes2.The PayPalResolutionCenterenables youto resolvetransactionissues beforethey becomelargerproblemsVISA,MASTERCARD,AMERICANEXPRESS, /EUROCARDMAESTRO1. Fast andTrustworthy2. Idealfor onlineauctioneers3. The newe-transferprocesstakes lessthan a weekto process acheck1.HDFC Bank,2 ICICI Bank,3 ING VYSYABank,4. Axis Bank(formerly UTIBank),5.StandardCharteredBank,6. State BankOf India,7. Bank Of India,8.Canara Bank,9 Union Bankof India,10 HSBC11 CitibankIndia.1.ProductFeatures :Credit Cards2. NoDebit CardAccepted2. AdditionalFeatures :Currencyconversionfee - 2.5%added to theexchangerate3. Debitcards (alsoknownas bankcards) areaccepted if they havea Visa orMasterCardlogo.3DirecPayGateway1. SSLTechnologyUsed2. SecureDataEncryption3. verisign128 bitSSL ,IPconnectionandencryptiontool4. PCI
Certied
Charges:Rs 30,000set upcharge + 7%transactionfees +annualmaintenancecharge1.One StopSolution2. MultiCurrency3.QuickSettlement4.SimpleIntegration5. Servicessupportcost-effective,cover awide rangeof paymentacceptancemodes andrest ona robusttechnologyplatform.24*7 support1.DirecPayplatformis mappedagainst anegativedatabasewhich iscontinuouslycompiled andupdated2 .It resolvethe disputes3. VeriSignsecure,making itrobust andfree frominternetdangers likephishing.VISAMASTERCARDDINERSCARD1.Fast,reliableand securepassage fortransactiondata2.Transactionstatus givesresponseback asmessageallert1.ICICI,2.HDFC,3.Citibank4. State Bankof India. 1. Creditcards,Internetbanking.Mobilebanking 2. Around51 DebitCardsAccepted2. Onlineshopping,Travelportals,educationalinstitutions,equitybroking 4EBSGateway1. RiskMonitoring 2. HighestSecurity PCIDSS 1.13.verisign128 bit SSLTechnology4. SecurityFirewall UsedRs 6000 assetup feesand 6%transactionfees + Rs2400 annualmaintenancecharge.1.RiskDetection2. ExcellentTechnical &TransactionSupportService 3. RiskMonitoring onan ongoing basis, Smoothreconciliation,MultiplePaymentOptions1. It reducesthe amountof time spentresearching customerinquiries; and2. Secondly,it reduces theoccurrence of charge backdisputesVISAMASTERCARDDINERSCARDITZ CASHCARD1. It usuallytakesbetween3 and 7seconds fortransactionresponse2.Transactionson real timeHDFCCITY BankAxis BankICICI Bank,DeutscheBank,Karur VysyaBank,State Bank of India, IndianOverseas Bank,ING Vysya,CorporationBank1.ProductFeatures: creditcards, debitcards, netbanking 2.NoDebit CardAccepted3.
 
AdditionalFeatures: Live Chat,shopping cart ready,instantSMS, email,Detailedreports
 
IJCST V
ol
. 2, I
SSue
4, o
CT
. - D
eC
. 2011
ISSN : 0976-8491(Online) | ISSN : 2229-4333(Print)www.ijcst.com
 
I
nternatIonal
J
ournal
 
of
C
omputer
S
CIenCe
& t
eChnology
 
63
5ABCPaymentsGateway1. Riskmanagementsystemcontrols2.SecureDataencryption3. 128bit SSLencryptionsecurity
4. Certied
secured5. SSLtechnologywith newestsecurityprotocols1.setupcost Rupees7,000+7%transactionfees2.Startupcost: 10000-280001.Easeintegration2.MultiCurrencySupport3.OnlineTechnicalSupport
4. Ofine
TechnicalSupport5. RiskMinimization:If anytransaction isperceived asa High-RiskTransactionan immediatealert emailis sent to theSub-Merchant6. Email alertsfor suspecttransactions7. Support24*71. Userreceive theparameters / data ineither case of transactionprocessending successfullyor failing updue to manyreasons,including wrong entryof credit cardnumber andso on.2. It Resolvedisputesthroughexpertiseand providemaximumsatisfactions.VISAMASTERCARDDINERSCARD1. Lessprocessing Time.2. Real timeResponsemeans QuicktransactionresponseICICI BankHDFC BankCITI BankAXIS BankIDBI BankCBOPSBI (coming soon)PNB (coming soon)1.ProductFeatures: creditcards, netbanking 2. DebitCardAccepted3.
 
AdditionalFeatures: Live Chat,shopping cart ready,instantSMS, email,Detailedreports6HDFCGateway1. SecureFirewalls2. 128 bitencryption3. Intrusiondetection andpreventionsystems4. SET
Certication
for digitalsignature1. StartupCost : 10000– 500002.Transactioncost : 3.5%– 6%3. Securitydeposit :50000 –dependson DueDiligence1. It supportAn user-friendlyinterface2. RealTime RiskManagement3. AutomatedReconciliationSupport4. Integrationof SCMmodule5. FullBackend 24hours SupportIt resolvedisputes2. Responsiveand TrusteeserviceVISAMASTERCARDHDFC NET-BANKING1.Securedand EasyTransactionProcess2. RealTime BasisResponseHDFC BankPaymentGatewayprovides asingle platformto supportmultiplepaymenttechnologies1. ProductFeatures :Credit Cardsand HDFCNetbanking 2. DebitCardAccepted3. AdditionalFeatures :Email andTelephonicsupportavailable7ICICIPaysealGateway1. Offers128-bit SSLencryption2. 280 bitRSA beforepassing itthrough anSSL pipeusing 128-bitencryption.3. Uses astrongholdweb server4. Extensivesecurity
rewalls
Charges: Rs.40,000 assetup feesand 5% astransactionfees.1. OptimumServerUtilization2. Centralizedand securedatamanagementSupport3. Highlyscalableand reliableSupport
4. Efcient
Administration5. Support24*71.It ResolveDisputes2.Administrationmodulefacilitatesextensive MISreporting andmonitoring of transactionsconducted viathe gatewayMerchantVISAMASTERCARDICICI NET-BANKING1. Thetransactioninformationis quicklytransmittedto themerchantserver.2. Fastand EasyTransaction ittakes 10-15seconds intransactionreportthrough webserver3.TransactionProcess inReal time.ICICI ProvideSingle Platformfor all paymentgateways1. ProductFeatures: CreditCards, ICICINetbanking 2. DebitCardAccepted3.
 
AdditionalFeatures :Needs javasupportfor yourwebsite.

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