How to select Payment Gateway for an effective eCommerce Store

Payment Gateway is an inseparable part of your shopping cart. No ecommerce website is a good website without an accurately done payment gateway. Hence, it’s always important to find the right provider in order to match up your score of payment facility and traffic you dig up on your store.

So, what all points you need to consider selecting the right Payment Gateway for your ecommerce business:

Security First

Here comes the most important factor that should rule the decision in first place. Nothing is more important that the security options payment gateway provides to its users. With the hacking practices getting ever more pertinent and impish, you have to choose your payment gateway keeping in consideration the security it provides for. If the security features are not strong enough to crack minor issues and breaches, and the service is not certified by renowned payment vendors, it is not worth a try.

Website Host

If you have a shopping cart vendor in mind already, look for the payment gateway option that is compatible with technology it supports. Do the other way round if you have selected the payment gateway first.

Support

Look for the option that offers you the support you need. Check for the assistance details. Check if the support timings suit you or not. Most importantly, go with the service that works flexibly with your business communication needs. Also, look for the user reviews and ask for references to check the quality of the support provided.

Mobile Friendly

As most of the people carry mobile these days you need to make sure that the payment gateway supports mobile shopping. It should keep good with the idea of mobile commerce as this is only to grow big in the coming years.

The Countries You Sell In

You will come across many providers who only deal in certain currencies. Check with the shortlisted providers if they process the transactions in the currency that belongs to the country you sell you products in and select accordingly.

Types of Products You Are Selling

Not all the payment gateway services would allow you to sell products in all categories. Take for example, if you are selling e-books you need to find the provider that supports digital products. Further, if you are dealing in some stuff like arms and tobacco products that go under legal surveillance, you need to find a service that helps you out with this.

What Cards Are Supported

If you have those top 3–4 payment card brands in mind then you would not have to look much as most of the providers will have the facility. But if you have a selective preference in mind and want to go with other options like PayPal, Amex and Diners you would have to dig a little bit more.

What Is It Going To Cost

Cost is one factor that everyone considers while buying any product or service and so will apply here as you get many options and offers from different providers. Get quotations from the Payment

Gateway services you have shortlisted and go with the one whose set-up and operation costs fall in your budget.

Hidden Charges and Miscellaneous Fees

Before you get terribly screwed up with hidden charges and unnecessary allied fees, get it double checked with your provider. Before hiring the service, get a complete breakdown of cost from them on the fixed transaction cost, implementation fees, variable transaction fees, combination fees and monthly service fees they apply and the services offered against them.

Before your select your Payment Gateway provider, combine all these points to suit your purpose and make a practical decision based on that. This with definitely help you go with the right quality of Payment Gateway service and support within the cost you can live with.