Payment

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.

Payment cards eases the process of payment for orders. Customers can securely save multiple payment cards within the payment gateway. During payment of an order, the list of payment options will show the list of saved cards. Link cards to customers, fetch active tokenized card information, tokenize and save cards after customer consent, and remove customer's cards from the payment gateway.

Order refers to a formal request made by a customer to purchase one or more products or services from the website's catalog. orders feature lets users easily start new transactions. It helps manage pending orders by providing key details like unpaid amounts and order statuses. Additionally, it offers detailed info on completed orders that have been successfully paid for.

PayLater, also known as "Buy Now, Pay Later" (BNPL), is a payment method that allows customers to make purchases and defer payment for those purchases to a later date. With PayLater, customers can buy products or services immediately and then repay the amount owed over time, typically in installments. Efficiently retrieve repayment transaction details, initiate merchant onboarding for BNPL, and Validate Customer Eligibility for Paylater Payment Options.

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.