Payment gateways make the acceptance of credit cards and debit cards via the internet easy, while offering many advantages to merchants.
When getting a payment gateway service, you can forget about geographical barriers. Customers can buy from you without worrying about where there current location is.
The ease your customers will enjoy is bound to bring them back.
Customers can get notification that whether the payment has been accepted or declined this will save them from the dilemma that has the money been deducted and more such confusing questions.
Customers can enjoy freedom to use credit card, debit card, net banking for most major banks accounts.
The payment option is 100% safe and it’s true even when there is a situation of charge back or refund.
Businesses can enjoy a worldwide exposure.
The cost involved in setting a brick and mortar store is saved.
Payment processing and order placement is almost instant, which means no waiting time needed.
Customers can shop even in the middle of the night as the store and payment facility is open 24×7.
Why get a payment gateway service?
A payment gateway is an e-commerce application that links your website and your merchant bank in order to authorize online payments.
Using the right payment gateway is essential for the success of an e-commerce store and therefore it’s essential that you should spend some time researching on the best payment gateways.
What to ask when choosing a Payment Gateway Provider?
- Security is of paramount importance, so choose a web payment gateway that is backed with latest technology and has no rooms for fraudulent activities. Try choosing one which is equipped with AVS protection.
- Try looking through the compatibility as the credit card payment gateway must remain compatible for your shopping cart. The technical part may seem rocket science to you, so hire a developer to check the compatibility.
- Make sure there are no hidden costs and also that the web payment gateway you choose tells you the cost involved and if possible in written.
- Choose a service provider, who offers flexibility in transaction handling, this will help you offer more options to your customers.
- Customer support is crucial, so try choosing one that excels in the same and is available whenever you have a query in mind, even if it’s in the middle of the night.
- Different payment gateway providers offer different features, try short listing one that most closely fits in your requirements list.
- Try choosing a web payment gateway that can be easily integrated with your ecommerce website as time consuming, difficult task is something that you may not like for sure.
Payment gateways come in two different styles
- First type is which takes the info your customers enter to a third party site that helps in processing and confirming that whether the payment has been accepted or declined.
- The second is described as a merchant side application program interface or API, here the code is integrated into the server that is hosting your eCommerce store.
The final say
The success of your eCommerce store very much depends on the payment gateway service provider, so think carefully before deciding, as defective payment may cost you not just money, but a bad reputation, which is something you would never wish to face.