Magento is an open-source e-commerce platform and as of now, Magento has grown to rank among the most popular e-commerce platforms. Magento is beneficial and works with a variety of payment gateways for easy online payment processing. In this article, we'll talk about Magento payment gateway integration. But before that, we need to learn about Magento Payment Gateway and its types in brief.

What is Magento Payment Gateway?

Magento Payment Gateway is an extension of Magento that allows users to secure payments. Magento Payment Gateway automatically gets the transaction information and secure payment details after providing the personal information and debit or credit card data.

Types of Magento Payment Gateways

While choosing a Magento payment gateway we should keep in mind security, convenience, capabilities, and cost

Magento provides many well-known payment gateways, including Stripe, PayPal, Braintree, Authorize.net, and others. Companies can provide many kinds of payment choices to customers and secure the checkout process using a payment gateway.

PayPal:- PayPal is one of the most popular Magento Payment Gateway solutions. It is easy to set up and use and famous among both the customers and sellers. It has millions of consumer accounts and is used by more than 17 million people. The negative point about PayPal is, that it can block your account without contacting you if you have an increase in the number of transactions.

Stripe:- Stripe provides an easy shopping experience with its optimized checkout. Stripe gives direct bank setups and local knowledge. Stripe's safe, unified platform is designed to support your company's growth, whether you're a large, international company or a startup looking to expand speedily and improve payment economics. If you're looking to set up a marketplace, processing payments, or billing cycles for Magento, stripe should be your first choice

Braintree:- PayPal-powered Braintree is a payment solution suitable for all kinds of companies from small to big businesses. Tokenization is provided by PayPal Braintree, allowing your clients to link their PayPal accounts or keep their credit cards for quicker and simpler checkout processes in the future.

Authorize.Net:- Authorize.Net is another Magento payment gateway extension type that allows businesses to accept payments via credit card and debit card over their website and an Internet Protocol (IP) connection. Authorize.Net accepts Bank and credit card payments for small and medium-sized businesses. It provides regular billing subscriptions, easy checkout options, and fraud protection services. It has many great security features.

Amazon Payments:- Amazon Payments is the last but not least payment gateway that is suggested for your Magento online business. Its incredible payment services enable you to make use of Amazon Payments to expand your company and protect it for free by using the same advanced fraud detection technology that Amazon uses. Similar to PayPal, if you don't follow Amazon's guidelines, your account could get banned.

Types Of Payment Gateways

There are several kinds of Payment Gateways you can use for your business according to their needs.

Hosted gateways

These types of gateways are offered by third-party services. When a customer pays, they redirect to the platform of the payment service provider then they enter their payment information and finish the transaction. Examples are Google Pay and PayPal.

Non-Hosted gateways

The transaction data is gathered on the company's website via these gateways. Companies have complete control over the client experience and checkout procedure. Businesses that host this kind of gateway also have to conform to data protection regulations like the Payment Card Industry Data Security Standard and handle payment data securely. Examples are Authorize.net and Stripe.

API-hosted gateways

These offer a straightforward checkout process directly from the company's website or mobile application. An application programming interface (API) is used to get the payment information. This strategy offers an easy and integrated customer experience, but to fulfill privacy laws, the company must maintain a secure environment for cardholder data. Examples are Braintree and Stripe.

Local bank integration

This kind of payment gateway provides a direct connection with the bank's payment system. This can be helpful for companies looking for clients in a certain area where the neighborhood bank is well-known. The technology of a particular bank and the degree of online transactions support it. Examples include EFT and ACH.

How to integrate a payment gateway in Magento?

Payment Gateway Integration in Magento can be done in a few steps which are provided below:-

Firstly, you have to create an account on a payment provider like PayPal, Authorize.net, Stripe, etc.
Then log in to the Magento Admin panel and install a payment gateway extension from the Magento Marketplace.
The next step is to set up the new payment method in the Magento Admin panel by copying the API keys from the payment provider and adding the necessary information, including the payment method title, description, and sorting order. To save the modifications, click Save Config.
After that, you must set up the payment options that a user has at the moment of sale. Lastly, to test, visit your Magento site and put one item in the shopping cart. Enter the new payment method when required during checkout.
Magento should now be connected with your payment gateway. If you face any problem in this you can look over the payment gateway documentation or ask a Magento developer for help.

Conclusion

We hope you find this article useful and now you understand the integration of the Magento payment gateway. Still you are facing any problem you can simply inquire us by visiting our website, we are ready to assist you. If you want to develop a Magento website and looking for a Magento developer then you can hire from Hornet Dynamics.

We offer experienced Magento Developers who have expertise in Magento 2 (Adobe Commerce) migration, different payment gateway integration, theme adaptation, and extension compatibility checks. Our developers communicate, take the time to understand your needs, offer full support with your task, and produce the best outcomes possible. For your project, you can ask for a price estimate.

How to integrate a payment gateway in Magento?

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