Payment

Aggregator Configuration involves the setup and customization of payment aggregation services provided by a payment aggregator. A payment aggregator is a service provider that consolidates payment processing for multiple merchants through a single seller account. Aggregator configuration includes settings related to payment processing, security protocols, transaction fees, currency conversion, reporting, and other parameters. Sellers configure their aggregator accounts to tailor the payment processing experience to their specific requirements, ensuring seamless and secure transactions for their customers.

Beneficiary for a refund refers to the individual or entity who will receive the refunded amount. This could be the original purchaser of the product or service, or it could be someone else if the refund is being processed on their behalf.

Efficiently manage Point of Sale (POS) payment modes and sessions, enabling seamless processing of payment initiation requests for UPI and QR code transactions, retrieval of payment modes offered by aggregators, conducting payment polling, facilitating payment link cancellation or resend, and providing the capability to check the status of individual payments as well as retrieve statuses for multiple payments in bulk.

Payment system refers to the mechanism by which customers can securely and conveniently pay for the products or services they wish to purchase. It involves integrating various payment methods such as credit/debit cards, digital wallets, bank transfers, and sometimes cash on delivery (COD) to accommodate different customer preferences.It typically involves - Payment Gateway Integration: Connecting the website to payment gateways like PayPal, Stripe, or other third-party processors to facilitate online transactions securely. Secure Transactions: Implementing encryption protocols and secure socket layers (SSL) to protect customers' payment information from unauthorized access or cyber threats. Multiple Payment Options: Offering diverse payment methods to cater to a wide range of customers, including credit/debit cards, digital wallets (e.g., Apple Pay, Google Pay), and alternative methods like cryptocurrencies or buy-now-pay-later services. Checkout Process: Streamlining the checkout process to minimize friction and make it easy for customers to complete their purchases swiftly. Payment Confirmation: Providing instant confirmation of successful payments and sending receipts or order confirmations to customers via email or SMS.