By Team Mystifly on May 23, 2018 2:14:31 PM
We recently announced that we are ‘changing the game with PayPal’. How has the game changed? Why PayPal? What does this mean for Mystifly’s customers? A lot of questions have cropped up in the last few weeks. And so, we thought we should help you understand more about PayPal, its Payment Gateway and the integration with Mystifly’s platform - MyFareBox.
PayPal, Payment Gateway and Other Basics:
You are probably already aware that PayPal is a company that operates in the online payments ecosystem, supporting online money transfers. Quick and convenient, PayPal serves as an electronic alternative to traditional paper methods like cheques and money orders.
A Payment Gateway is an e-commerce application that authorizes payments for e-businesses and online retailers. It sends credit card information from a website to the credit card payment network for processing and returns transaction details and responses from the payment network back to the website.
PayPal Payment Gateway is a secure and open payment gateway, using which, debit and credit card payments can be easily and securely processed.
Recently, we integrated PayPal Payment Gateway into the Mystifly platform, to serve our customers better and mitigate any challenges they face in transacting with us. Our customers can now make faster, seamless and secure transactions on MyFareBox with the new PayPal integration by using 'PayPal registered' credit cards.
What’s the difference?
Earlier, our customers could transact on MyFareBox only on a ‘Deposit’ basis, which works in a prepaid mode. While this worked, and continues to work for most of our customers, parking a lump sum amount was not feasible for many.
Enter PayPal Payment Gateway, the easiest way to transact and pay on the go, without the need to top up the MyFareBox account. With this, our customers have the additional option to transact on MyFareBox using 'PayPal registered' credit cards, paying as they purchase.
Benefits of transacting on the Mystifly Platform via PayPal:
- Convenient: No hassles of multiple deposit routes. Our customers can enjoy the benefits of a single payment gateway.
- Faster: No need to wait till the money reflects as ‘Deposit’. Transactions can be done on the go.
- Secure: Information remains confidential. PCI Compliance ensures that all data remains securely encrypted.
- Flexible: Multiple credit cards can be linked to a PayPal account for diverse sources of funds.
- Cost-Effective: No set-up, monthly or maintenance fees. Only a small payment gateway service charge.
- Easy Refunds: In case of PayPal transactions, the refund amount if any is rolled back to the credit card soon as the refund is authorized at the backend.
A new way of doing something, especially payments, is always met with some reservations. Here’s a clarification:
Myth: Signing up for PayPal Payment Gateway will mean that no more ‘Deposit’ mode transactions can be done on MyFareBox.
Truth: Customers can continue to make deposits and use the deposit amount for transactions on MyFareBox, even after signing up for PayPal Payment Gateway. Both options will be available to the customer at the time of transaction.
Consider this scenario: You are an esteemed Mystifly client, preferring to transact on a ‘Deposit’ basis. You spot a great airfare on a weekend and wish to book it immediately, but your MyFareBox account balance is insufficient. You can either top up the account and wait for the amount to reflect in your balance and hope that the fare doesn’t change. Or you can simply use the PayPal option, and transact instantly, grabbing that great offer.
Start Transacting Right Away
Already a Mystifly Partner, and wish to explore the benefits of transacting with us through PayPal? Follow these steps to get the PayPal Payment Gateway option enabled on your MyFareBox account:
- All you need is a PayPal account that can be set up in a matter of minutes. Click here to sign up.
- Request for PayPal transactions to be activated by filling this KYC form.
- Upload the necessary documents in the form provided. KYC completion will take 3-5 working days.
- Upon successful validation and approval, the option to transact using PayPal will appear on your account.