How to Build a Successful Payments System for Your eCommerce?

A reliable and efficient payments system is a must-have for any online business. Your e-commerce store should be capable of accepting transactions from customers. However, payment processing can be hard to grasp, especially with the numerous methods available for online payments. So, this guide explains a few fundamentals to help you set up a suitable system for your website.

How Does a Payments System Work?

A payment defines the transfer of value from one entity to another. The network that facilitates this transfer is the payment system. Every e-commerce site needs a way for customers to send payments to the merchant. A payment system captures the customer information and transmits it to the necessary entities for processing. Credit cards, e-wallets, prepaid vouchers, mobile wallets, electronic bank transfers, and Buy Now Pay Later are the main payment methods e-commerce enterprises use. When setting up your store, you have to decide the best way to accept online payments. Merchants work with several parties to process payments successfully because the system involves multiple stages. You have more than enough options to consider when choosing eCommerce payment solutions. 

Main Components of a Payments System

For your eCommerce platform to make the most of a payments rail, you should know the different elements that make it possible to accept online transactions efficiently. Here are the principal components that help optimize your business operations:

Integration with multiple payment processors

A good system should pair seamlessly with different payment service providers. No  processor is perfect, which is why e-commerce businesses work with varying companies. A payment system should allow you to pick a processor that matches your budget and requirements.


A payment gateway should let you choose features that suit your online transactions. For example, if you deal with cross-border payments, the network should support a broad range of foreign currencies. A subscription service should be able to set up recurring billing effectively.


Payment systems must have measures to protect customers and merchants. PCI compliance and fraud management are the primary mechanisms built into payment platforms to facilitate safe transactions.

Advantages and Disadvantages of Building Your Own Payments System

In an age where e-commerce is taking over various markets, the demand for suitable payment systems keeps rising. Regardless of the numerous options, you might prefer to create a customized network to accept online payments. One plus side of this option is that you can come up with a system with perfect features for your business. Hence, you won’t have to restrict your processes to the limited features that a third party offers.

If your e-commerce business moves large volumes, then you can save money in the long run. For one, you won’t have to deal with the recurring fees processors impose on every transaction.

On the flip side, a custom-made payment system is a big investment. You need a significant budget to develop and maintain the network. For this reason, you should only consider building your payment processing solution if you have sufficient resources.

Integrating a payment gateway with a processor takes time and money. The technical requirements and certification could mean waiting a while before your system is in place.

5 Tips for Building a Successful Payments System

So, you know the benefits and challenges of establishing your payment infrastructure and decide if it’s worth the risk. The following advice should help you navigate the process.

Define your business needs carefully. Before taking any step into the development project, know what works for your online store. eCommerce businesses come in many forms, which is why payment systems don’t have one-size-fits-all solutions. If your platform is to serve your website fully, then it must align with the objectives.

Be aware of all the maintenance costs associated with a payment system. Don’t focus too much on the creation that you fail to budget property for what comes after. You have to pay for the servers and product maintenance for the life of the infrastructure. So, calculate all the expenses to make certain your business can afford them. 

Plan for scalability. Your payment architecture should cater to future growth. So, do projections on your transactions and then build the system to meet the predicted demands and workload. 

Don’t forget security. Your payment product should inspire customer confidence by protecting their information and money. As online transactions increase, the cyber threats on payment platforms rise too. Hence, merchants must leverage the latest technologies to keep customers and businesses safe. Employ tested security solutions that meet industry standards. 

Make sure your infrastructure adheres to compliance requirements. PCI-DSS compliance, for instance, is necessary for any site that handles credit card payments.

Costs of Building a Payments System

As mentioned, a custom payment system can get expensive. Several variables determine the costs you incur during this process. Typically, the costs of developing a payment infrastructure from a scratch range between £100,000 and $200,000. Besides the initial expenses of creating the rail, you have to shoulder the maintenance costs. Due to the large investment required for a custom gateway, the option is only viable as a long-term solution. Although you might save money on some fronts, you must be ready for other expenses. If you support credit card payments, then card network usage fees are mandatory. Integrating your system directly with card network providers can eliminate interchange and settlement costs.


Your e-commerce business can’t reach its full potential without a secure and dependable payment system. Thus, you should invest in a platform that meets your website’s specific needs. Whether you operate a wholesale or retail venture; sell goods or services; or operate locally or internationally, ensure you get the best system for your online payments.