A payment gateway service provides credit card or debit card authorization on e-commerce transactions. It connects bricks-clicks stores and online retailers to the customers by facilitating the money transfer between them. Basically, it’s like PayPal. But since every country has different banking policies regarding e-commerce trade, sometimes, it can be way more affordable and convenient to use local payment gateway services than the international ones, especially to the business owners.
Choosing the right payment gateway service can be a matter of life or death for retail stores because most transactions today are cashless and online. And here, you’ll learn three qualities to look for from a payment gateway service.
Convenience is often the most overlooked factor here, but you actually can learn many things about the quality of the gateway provider just by evaluating how they treat their clients. A customer service who’s ready to help your 24/7 is a must-have feature. Online stores’ feature that can’t be found on the traditional brick-and-mortar is its 24/7 service. Your buyers are supposed to be able to make any purchase whenever they want. However, no system is perfect, and you should expect occasional glitches here and then. What’s most important in that scenario is how your gateway provider offers their assistance.
Second, you are the paying client here. If the provider does not prioritize your application or treat you like you are unimportant because of the scale of your business, you’d be better to find another provider that can provide you with more professional service. Your convenience is what you will pay for. And you must stand up for your rights!
Since a payment gateway will have access to your business’ sensitive information, you need to know how to check if their online security is as good as they claim or not. First, look for certifications like Control Case, Odyssey, or I.S. Partners on the payment gateway provider’s page. If there are any quotes on such accreditation, it means that the company’s system has met the international standards for cybersecurity.
Second, investigate the payment gateway service’s history on the Internet. If there were any breaches or fatal errors, there should have been any news or complaints you can Google. Digital traces are eternal, and you should make use of that for your advantage.
Mobility and Flexibility
Unlike in the past where cashless transactions meant paying using a PC or laptop, today, they all happen from smartphones. Hence, you need a payment gateway provider that has a mobile app version. You have to try the user interface on your own so that you can measure how convenient it is for your buyers. Remember that no one likes an overly-complicated process.
Second, the payment gateway service must be compatible with all payment methods internationally. The more flexible your payment feature is, the more customers you can reach globally. And that is the primary point of signing up for a payment gateway service after all.