When you think of paying someone or collecting payment from someone, you think of UPI, bank transfer, or even gift cards but not ‘Payment Gateway’. It’s a relatively lesser-known term and payment method but it’s very important for businesses. Almost all the businesses you know and interact with, use a payment gateway for their transactions. Let’s see why-
1) They are Secure
Payment Gateways use encryption methods which hide your personal and transactional details. Only the sender and the recipient will be able to see the actual details of the transaction.
2) Collect Recurring Payments
You can collect recurring payments like EMIs when you collect fees from a Payment Gateway.
Collect payments from anywhere in the world:
Most payment gateways allow international payments. You don’t need to have any separate integration, these gateways take care of payments from international credit cards.
3) Faster Transaction Processing
Payment gateways offer much faster transaction processing compared to other payment methods like cheques, demand drafts, etc.
4) 24*7 Convenience
You can collect the transactions at any time without any paperwork or long queues
5) Better Customer Support
Since Payment Gateways act as an intermediary between the merchant and the customer, they handle all the complaints promptly.
Benefits of Winuall Payment Portal
As a Tutor, we believe you have a critical business at hand that needs to be made as seamless and easy as possible, even while managing your finances. Collecting fee payments through your own app that has an integrated payment gateway also have some added benefits:
1) Safe and Secure Transactions
Along with the security of Payment Gateways, all your Winuall websites come with AES 256-bit encryption which is the highest level of security available.
2) Single Source of Truth
All your transactions can be seen on your Winuall dashboard, no matter which medium they come from. You can track all your payments in one place.
3) Schedule Payment Reminders
You can create installments, schedule reminders, and inform students about their due or upcoming fees. You can also set restrictions based on the timelines for payments.