Choosing an Online Payment Gateway Explained with Simple Steps
The majority of ecommerce websites offer their customers the principal method of making payments through credit cards. In order to facilitate electronic payments, these websites require a merchant account with a bank or third-party service provider in the first place. A payment gateway denotes a service that links ecommerce websites with the bank or company that offers the merchant account. Therefore, how can you choose a gateway that will satisfy all your online business requirements?
Every ecommerce business should select a payment gateway that fully comprehends their security requisites so as to enable safe credit card processing over the internet. The service must also be reasonably priced, straightforward to use and well-matched with your site’s shopping cart.
Make a comprehensive comparison of multiple payment gateways with one another. Prepare a list of those you’re taking into consideration and note down all their features. Underline the features that would be beneficial for your business. Acquire more details regarding these features from the gateway’s sales representative when you get in touch with them.
For smooth electronic payments, it is recommended to verify the compatibility with the shopping cart. You must ensure that the gateway is capable of functioning with your shopping cart. Make contact with your technical team of web developers or designers if you are not sure of the compatibility.
Make certain the gateway is dependable. You would never like to have a scenario when your customers abandon your site and purchase at some other place due to the nonfunctioning of the gateway’s mechanism. Your online gateway must be accessible round the clock, similar to the other parts of your site.
Inquire about their technical support. Find out if they have somebody available to solve any issues for 24 hours. Check if they offer live help on the internet or if they have a toll-free phone number you can call day-and-night.
Carry out a check of their prices. Never try to find the lowest quote and see if they have any hidden fees. Ascertain that you are obtaining all the things you require in exchange for your money.
Find out whether the gateways you are considering for electronic payments are complied with PCI-DSS (Payment Card Industry Data Security Standard). This signifies that the sensitive information of your customers is forever safe.
Determine whether the service provides fraud detection and risk management. If your online store sells highly expensive products that are vulnerable to fraud, search for a payment gateway that extends sophisticated fraud detection technology such as Address Verification System or AVS protection to guard against deceitful transactions.
If your ecommerce site boasts a global customer base, look for payment gateways that are able to accept and process multiple foreign currencies.
Anthony Taylor - About Author:
Anthony Taylor is an expert in Internet security issues and has been associated with AlgoCharge, which is one of the leading service providers to process electronic payments. The company offers an integrated payment gateway solution to card processing, bank transfers and other alternative payments using advanced algorithms.
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