5 Payment Gateway Misconceptions That You should Know

5 Payment Gateway Misconceptions That You should Know

If you’re a business that is looking to operate in the digital space, then you must have heard about payment gateway and its importance. In today’s digital first market, it is quite difficult to offer a good checkout experience without a reliable payment gateway. 

But there are several misconceptions regarding payment gateways for which you might be convinced that a payment gateway does not suit your business. Well, it isn’t the case as we are debunking all the common misconceptions regarding payment gateway in this article.

Here are the top myths regarding payment gateway:

  • Payment gateways have access to your data

Many users, and merchants, believe that payment gateways have access to sensitive buyer data. Many are concerned that customers’ private information and card details could be exposed.

The security of sensitive data is the responsibility of payment gateways. RBI has established guidelines to protect sensitive data from theft and breaches. A strong fraud prevention and risk management framework is a must for any payment gateway.

A payment gateway must also be PCI DSS compliant which means that it is required to follow best security practices, protect your data, and prevent any financial loss.

  • Each payment gateway offers the same offer

Although the goal of all payment gateways is the same, the offerings and processes of each one can vary. These additional features and benefits can make a big difference for merchants.

Not all payment gateways support multi-currency transactions or international payments. It is important to verify this feature if your business plans to grow internationally.

A business of any size should also carefully review the settlement period provided by the payment gateway. For steady cash flow, a quick settlement is essential. Although many offer a T+2 settlement, it is almost always delayed by weekends and bank holidays.

  • Payment Gateways are available for larger businesses.

No. Businesses that offer great checkout experiences should use payment gateways. What can online businesses afford to ignore? Even if you are just starting out, it is important to keep your eyes on the growth curve. This will eliminate the need for manual labour, extra resources, and negative experiences. Payment gateways not only facilitate transactions, but also automate and streamline many processes that are related to payments.

It also provides a collection of sales data with insight and analysis that can be used by small and startup businesses to help them make business decisions.

The merchant dashboard of the payment gateway has features like transaction monitoring, refund management, and analytics to make business operations more efficient.

  • Hidden charges are charged by payment gateways

This is more likely to be a miscommunication than an error. Payment gateways that claim they are free usually charge setup fees or an annual maintenance fee. They don’t usually charge any hidden fees.

A Merchant Discount Rate (MDR), which is a small portion of the transaction value, will be charged to you. This fee allows the payment gateway to maintain a secure and seamless checkout experience. Some of them can also customise the pricing plan to suit the business’s needs, scale, and size.

  • Integration of payment gateways requires a long process

Your payment page can be activated in minutes. With minimal coding required, payment gateways allow developers to integrate seamlessly. The software developer kits (SDKs) provide detailed documentation that enables easy onboarding.

The API’s and ready-to-use javascript snippets allow for customisation of the checkout process across different platforms. Merchants should verify that the payment gateway provides a plugin to their preferred ecommerce platform.


There are many opinions on tech solutions. It is important to understand the benefits of these solutions for your business. It is important to choose the right payment gateway for your business. 

Are you searching for the best Indian payment aggregator for start-ups? Then, you’re in the right spot. OnionPay, owned by Zhudao Infotech Private Limited is among the top payment integration companies in India which offers multiple payment options such as cashless including credit card, debit UPI, netbanking, and debit card. OnionPay’s online onboarding process and minimal documentation allows businesses to accept payments quickly. Maximise your profits by signing up with OnionPay today.