|Setup Fee (LKR)||15,000||20,000||75,000||15,000-25,000||None||15,000||None||none||none||none|
|Recurring fee (LKR/annum)||75,000||30,000||90,000||60,000-108,000||39/transaction (basic) | 35,880 (plus) | 119,880 (premium)||21,600 – 47,880||None (pay as you go model)||none||none||none|
|Commission per transaction||3% – 5%||4%||4%||4%||3.9%, 2.99% or 2.9%||2.5% – 3% upwards||3.5% + $0.35 | 4.5% + $0.45 | 6.0% + $0.60||1%||1.50%||1%|
|Payment methods accepted||All local and international Master or Visa Credit & Debit Cards||Master, Visa and other cards||all major credit and debit cards.||international debit, credit, Visa and MasterCard||Visa, MasterCard, American Express, Discover, Diners Club, Genie, Frimi, eZcash, mCash, Sampath Vishwa||Visa, MasterCard, American Express, Discover, eZcash, mCash, Virtual Wallet, Sampath Vishwa||Almost all credit and debit cards, internet banking||all major credit and debit cards.||Any VISA/ Mastercard -Credit/ Debit Card, Savings/Current Account, Mobile Money||All major cards, internet banking, mobile sms, wallet|
|Fraud & Risk management||Yes||Yes||Advanced||Yes||Yes||Yes||Yes||Yes||Yes||Average|
|International currencies accepted||USD, LKR, EUR, etc.||multi-currency transactions||multi-currency transactions||LKR, USD, EUR, GBP||LKR, USD, GBP, EUR, AUD||All Major Currencies||Over 200 currencies||12 Currencies, Cryptocurrency||12 currencies||LKR, USD, GBP, EUR, AUD, INR|
|Set up type||Online||Online||Online||Online||Online||Online||Online||Online||Online||Online|
|Onboarding & Approvals time||1-2 week||4-5 days||1 week||Less than 1 week||1 week||2-4 days||2 days||1-2 days||1 week||3 days|
|Charges on Refunds||–||–||–||–||No extra charges||150 per transaction||No extra charges||Minor||Minor||No Extra charges|
|Settlement time||Less than 2 days||1 day||2 days||1day||2 days||1 Day||1 Day||2 days||Less than 2 days||2 days|
|Split payments||No||No||No||No||Yes||Yes||Yes||only for Cryptocurrency||no||No|
What is a payment gateway? how does a payment gateway work?
A payment gateway is a technology used by traders to receive debit or credit card procurements from clients. The term comprises not only the physical credit/debit card reading machines found in retail stores but also the payment processing gateways found in online eCommerce websites.
A payment gateway is an online connection that marks the entire process of online payment more efficient and safer. Its actions as a safer link between your eCommerce website or app and the bank.
1. The part of payment gateway commences when a client decides to procurement on your eCommerce store.
2. Your eCommerce website or app that you have incorporated with the payment gateway directs the payment information (Debit. Credit card details or Netbanking details) of the client to the payment gateway.
3. The payment gateway then validates and authorises the payment info with the bank.
4. Upon positive confirmation, the amount is discharged from the customer’s bank account and is moved into your bank account.
Thus, the payment gateway actions as an intermediate that confirms simple and secure online cash transactions.