Operational Mechanism

There is no secret that online transactions are now the norm. Let us understand how the payment solution works necessary for businesses of all sizes. If you are managing a large enterprise or small business owner, Wonderpay gives a secure, reliable, and friendly user-complete platform for smooth financial transactions. Wonderpay guides you through the working process, from registering your account to complete payment processing.

Registration process

Wonderpay Technology is the complete payment solution provider and first choice of every business in India. We offer a huge range of payment solutions to all sizes of businesses.

Sign Up / Register

Fill out the registration details to open the account by providing the required information.

KYC Verification

Verify KYC after creating an account for smooth transactions as per RBI.

API Integration

Single or bulk transactions are possible by linking accounts through API.

Enjoy Pay-in/Pay-out

After getting the entire above step completed, you can start the journey of seamless transactions.

In a Nutshell

Collect

The payment solution compiles the details like billing address, transaction amount, debit/credit card information, and bank detail information from the customer device.

Step 1

Verify

It carries out security checks to validate the transaction, confirming the validity of the debit/credit card, fund sufficiency, and transaction accuracy, and also implementing fraud prevention measures.

Step 2

Transfer

Wonderpay gives a complete solution by promoting the electronic fund transfer from the bank of the customer to your merchant account. This fund transfer can be done via any transferring mode, i.e., NEFT, RTGS, UPI, debit/credit card, online banking, wallet, etc.

Step 3

Approval

Wonderpay sends an authorization request for the transactions to the bank of the customer. It further proceeds with the receiving approval of the sufficient fund.

Step 4

Complete

The payment solution verifies the successful transaction, permitting you to fulfill the transaction order. The total process completes in seconds. This ensures a seamless fund transfer experience.

Step 5

Integrating Payment Gateway to an Existing Business

Integrating a payment gateway with an existing business is the direct process for enhancing your online payment capabilities. The key steps to integrate payment solutions seamlessly.

Selection of Payment Gateway

According to the business requirement, select the payment gateway providing features to your needs. Also, it provides reliable customer support.

Integrate with your business platform.

For integrating the payment solution using the API provided by Wonderpay. Follow our integration instructions, or you can contact us for further assistance.

Test Transactions

Before going live with the transactions, our team will support you in fund transaction testing. This verifies the functioning of the gateway integration. This involves various payment method testing.

Ready for the Transaction

After getting all the tests of the functions and tools of Wonderpay according to your expectations. The businesses are ready to do all financial transactions. This provides a smooth payment transaction experience to the customer.

How does a payment gateway work?

Now after understanding the payment solution. Let's explore how it merges into the card payment process. We’ll go over every part of the payment process, from starting to ending.

The customer starts transferring by entering their card details on the payment page. The payment gateway safely passes this information as per the merchant’s preferred integration method.

The payment gateway encrypts the card details and conducts fraud checks before transmitting the card data to the acquirer.

The system securely transfers the information to the card schemes, where another layer of fraud checks is initiated. The card schemes then transmit the payment data to the issuer for authorization.

The issuer approves the transaction after screening the necessary fraud measures. This includes verifying the transaction information, ensuring the cardholder has adequate funds for the purchase, and that the bank account is valid. The issuer then sends an approval or decline message from the card schemes to the acquirer.

The acquirer sends the message back to the payment solution, which then passes to the merchant. Payment approval leads to fund settlement from the issuer bank to the merchant account.

Frequently Asked Questions

Below are given Frequently Asked Questions (FAQ'S) related To How Payment gateway works

How do payment solutions work to ensure secure online transactions?

Wonderpay is the complete payment solution. Works by safely collecting and transmitting payment details safely. One has to perform multiple security checks. This process includes compliance with PCI standards for safeguarding the sensitive information.
What is the difference between a payment processor and a payment solution?

The payment solution acts as a digital reconcile, permitting and facilitating online payments by transmitting payment data. It manages the front-end checkout. The payment processor manages the transaction process, issuing bank approval and getting payment settled. It manages the back-end financial transactions.
Can I integrate a payment solution with my existing online store?

Yes, it is easier to integrate with your existing online store.
What are the charges associated with using a payment gateway?
Charges for using Wonderpay, the complete payment solution, are as follows:
- The transactions done using UPI will charge zero.
- The transactions done with a debit card will charge 1%.
- The transactions done with the credit card will charge 1.9%.
The charges get lower as the volume of payment increases.

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Time Is Money – Save Both Let’s Get Started

Begin by merging all your banking at one place with necessary documentation. Follow our guideline step-by-step; securely link your account to get access for all features. Encountering any issues, our support team is available 24/7 to help. Dive in and experience the most of your seamless banking.