There were times when all things were bought in person. Times have changed and so have our buying habits we have started buying stuff online. From a big purchase like a washing machine to even our groceries millions of online transactions are happening worldwide. The biggest draw for buying stuff online, other than attractive discounts is the comfort of buying stuff without having to travel. And to make it experience smooth the payment process should be as easy as possible. We are always wary of sharing our credit/debit card information with anyone. And rightly so, we often hear about information having been leaked and other problems. Ease of making an online payment and being sure that our information is secure is the need of the hour. If you are starting an online business or setting up an e-commerce store providing a safe, secure, user- friendly payment gateway will help you delight your customers.
Choosing a payment gateway that is easy to use and is secure enough is critical to your online business. Here are a few things to look out for when choosing an online payment gateway provider.
1. PCI-DSS compliance: The PCI Security Council has a defined set of security standards. These may vary for a payment gateway provider based on the volume of credit and debit card transaction.
2. Easy to set up: The payment gateway should be easy to set-up. A lot of companies now guarantee 24-hour integration process. This is a far cry from earlier when it took around a week to bring about the payment gateway on your site.
3. Integration to your site: An integrated payment gateway is a great option as it does not require users to leave your site. You should choose a payment gateway that has a smooth checkout process and does not require redirection.
4. Recurring payments: To make customer experience seamless the service you choose should enable users to make recurring payments.
5. Seamless transaction process: You should try and find out the number of screens users will have to navigate to make a successful payment. Most payment gateway providers have a demo on their websites. You can also ask for a demo to go through the process yourself.
6. Multiple payment options: The payment gateway provider you choose should have multiple payment options. It should support multiple currencies to ensure a truly seamless experience for your customers.
7. Pricing: A payment gateway suited to your needs and within your budget is not too tough to find. Pricing is critical as it will impact your profit margins. Payment gateways might have a per-transaction fee or monthly fees or both. When starting out go for a payment gateway that is reasonably priced.
8. Mobile integration: Mobile phones are increasingly being used for online shopping. You have in all probability developed an app for it too. The payment gateway provider you choose should let you integrate it with your mobile app.
