Payment Gateways are online credit card validation and processing system that allows vendors to sell their products and services online. Silicon House has helped hundreds of businesses to accept payments online. Silicon House is the only organization in India to offer payment gateways with the lowest transaction rate [ Rate charged per transaction made online ]. Our aim is to provide Payment Gateways at the lowest possible cost so that Small and Medium Businesses can harness the full potential of Internet.

Why go for a Payment Gateway ?

Payment Gateways are very handy in completing a sale online. For instance, there are many items such as gifts, electronic gadgets, software etc which are purchased online. The whole activity of online sales ends with payment processing using Payment Gateways. Payment Gateway also indirectly serve as means of Validity of a company, Makes impulsive buying possible, Allows clients to use their card and use their credit period.

Above all, it shortens the duration for making payment for a client as well as realization of payment by the vendor.

Types of Payment Gateways

There are three financial components in a Payment Gateway.

1. Set Up Fee [ Usually one time fee ]
2. Annual Maintenance Fee
3. Per Transaction Fee

Payment Gateways in general can be classified as follows;
a, Dedicated Payment Gateways
b, Shared Payment Gateways

Shared Payment Gateways: This type of payment gateways are issued as a third party payment processing to the vendor. The per transaction fee is very high when compared to Dedicated Payment Gateways. Billing is not done in the vendor name. Hosting environment does not require any special environment setting to be done. This consists of Economy and Premium Packages.

Why go for Shared Payment Gateway Solutions?

1. The first and foremost factor is Cost. The pricing for Shared Payment Gateway Solutions range between Rs.7500 to Rs. 25000.

2. Easy to use. Doest not require high end integration skills or System Administration.

3. Can be easily integrated even in Shared hosting environment.

4. In built Fraud Alert system such as IP address tracking, Address verification, Charge Back alerts, Flagging based on suspicious transactions.

5. Wider Coverage including VISA, Master, Amex Cards. Net Banking also included in these payment gateways.

Short Comings of Shared Payment Gateways How to buy a Shared Payment Gateway

The following are the most familiar short comings in a Shared Payment Gateway Solution.

1. Billing in the Card Statement will usually appear in the name of Payment Gateway provider. This might cause confusion to your customers.

2. Per transaction rates are too high [ 5 to 8 % per transaction ]. This is against 2.5 to 3.5 % in dedicated payment gateway solutions.

3. The per transaction rate does not change based on the volume of business done thro the payment gateway.

Shared Payment Gateway Plans
 

	Shared PG
Feature	Economy	Premium
One Time Setup Fee	6999	21500
Annual Fee	1200	2400
Per Transaction Fee	7%	5%
Billing Name	Third Party	Third Party
Payment Realization	Weekly	Weekly
SSL Encryption	128 bit SSL	128 bit SSL
Cards Accepted	VISA [ Master requires additional formalities ]	VISA  [ Master requires additional formalities ]
Environment Settings	NA	NA
	Sign Up Now !	Sign Up Now !

Steps in getting a Shared Payment Gateway
 

Apply Online: Click here to apply online. Supply only accurate details. Verification: Our Risk and Legal team will verify and update you of technical and commercial req. Submit Requirements: Submit the required Technical and Commercial req. On verification, test payment gateway will be enabled Test Payment Gateway: Test your shopping cart with our Sandbox payment gateway. Go Live: On successful testing and approval, Go Live !

How to get a Shared Payment Gateway ?

Check Before You Apply : The Pre-requisites

The following are the general pre-requisites to apply for a Shared Payment Gateway;

1. Current Account / Savings Account
2. Proper manufacturing or servicing setup with office and employees etc. with proof of existence
3. Products or services sold cannot include but not limited to drugs, medicines, alcohol, multilevel schemes etc.

Step 1: Apply Online

The first step to get a payment gateway is to apply online. Click here to apply online. Once you have applied, we will review the application and update you with the technical and commercial details. Unless you receive a confirmation from us, please do not proceed to the documents stage.

Step 2: Verification

On meeting the basic pre-requisites, you will be verified for the following but not limited to;

Location and Business Verification like location, phone numbers, authorized contact person etc.

Website must contain;
Domain Whois must contain your correct contact details
Terms and Conditions
Privacy Policy
Cancellation and Refund Policy
About Us
Type of Product

Step 3: Documents & Other Requirements

For most of the payment gateways, the documents required are almost the same, except few variations. Extra documents or credentials are required to be submitted if request by the Bank.

1. Commercial Documents
2. Technical Documents
 
Commercial Documents Required For Payment Gateways

If Sole Proprietor

1. Proof of proprietorship
2. ID Docs of the proprietor
3. Payment Gateway Agreement in stamp paper as mentioned in the confirmation mail
4. Bank Account certification by your bank.
5. Application for payment gateway in your letter head

If Partnership

1. Partnership Deed
2. ID Docs of the proprietor
3. Payment Gateway Agreement in stamp paper as mentioned in the confirmation mail
4. Bank Account certification by your bank.
5. Application for payment gateway in your letter head

If Private Limited

1. Copy of ID proof of all the directors with " Company For Seal and Signature of all the directors "
Any one of the following is accepted as ID proof;

1. Voters ID
2. Pan Card
3. Drivers License
4. Passport

2. MOA and AOA documents along with Certificate of Incorporation. If certificate of incorporation is not included in MOA or AOA, it can be provided separately.
3. If all the directors are not mentioned in MOA or AOA, then Form 32 must be provided for directors who are not mentioned in the MOA or AOA.
4. Payment Gateway Agreement in stamp paper as mentioned in the confirmation mail
5. Bank Account certification by your bank.
6. Application for payment gateway in your letter head

Step 4: Testing Payment Gateway. Once you receive the Merchant Id and other details , you can host in your reseller account and test with the payment gateway url

Step 5: On successful completion of the testing, you can integrate with your shopping cart and go live !