Payment gateways are beneficial; both for merchants as well as shoppers, offering both a win-win situation. There are many types available. Some which accept credit cards, debit cards and more payment forms and others which are termed as credit card payment gateways. The choices are many, what is needed is to understand which one can work best for an individual business depending upon the merchandise and other specifications.
Benefits for vendors
- As a vendor you can enjoy a global reach, as payment gateway can ease geographical barriers completely from the picture.
- Your customers can enjoy added convenience, as instant notification about payment acceptance or selection can be sent.
- You can save a lot of money, which you may otherwise need in setting up a store, hiring manpower and settling other expenditures.
- You can save from the hassles and time that check clearance takes.
- The incidences of fraud and lost payment is almost zero, as you will not require managing checks and will not face issues like bounced checks.
Benefits for customers
- Online shopping is all about convenience and payment gateways just takes this a step further.
- Order processing and payment notification is instant, which means no waiting time needed.
- You have freedom to shop anytime, even if it’s to be done at the oddest hour.
- Get ready to shop from anywhere, what you need is an internet access and you can shop even while on the go.
- Forget about signing checks and then going to the bank to get notified that whether the amount has been deducted, do it right from the comforts of your home.
- You can stay assured that all your information is safe and secured and there is no room for fraudulent activities, even slightly.
- You just need a credit card or debit card and can even use net banking to make the payment for any merchandise bought online.
- The options are endless and may even help you save huge which you may have otherwise experienced when shopping in person.
The shopping world is fast changing
As the convenience of online shopping has increased, there has been a simultaneous increase in demand for payment gateway services. These have helped merchants all over expand their businesses by offering improved customer service irrespective of their location. Merchants can now offer their customers the freedom to use credit cards, debit cards and more to make payments for any merchandise bought through the web.
The benefits adding a Credit Card Payment Gateway to any business can offer is less than just good. It’s like a tool that has opened a world of opportunity for both the seller of products as well as the buyers. The freedom to use credit cards has helped buyers invest on even those things which were before out of their scope as credit card companies offer customers the freedom to ‘buy now and pay later’. This means a buyer can buy a product now and can make easy payments in fixed monthly installments where maybe a small interest rate would be charged by the issuing bank.
So, stop worrying and get ready to give your customers the easiest and most streamlined online shopping experience without having them make any compromises, even slightly