You may have a great looking website and your e-commerce products are all arranged attractively. Your site navigation is also smooth, well! All this is important to your business but not until you hear the money jingling for which you need a smooth payment gateway. A payment gateway that is running smooth proves to your visitors that your site is trustworthy.
Essentially a payment gateway is an e-commerce service that allows the merchant to accept credit cards and other forms of payment to conduct monetary transactions. If the payment options are not smooth on your e-store you could suffer loss of orders, this could also imply a significant loss to your business as there would be loss in sales. Using the right payment gateway will ensure that the business works smoothly and orders keep flowing in.
Since different payment gateways function differently it is essential that you choose the right payment gateway for your e-store. Here are a few factors you must keep in mind before settling for a payment gateway:
1. Check out the transaction fee associated with your payment gateway, it should be in your budget.
2. Check whether the payment gateway requires the user to go through a sign up process, it is better to avoid such a gateway.
3. Check whether the payment gateway provides multi-currency support especially if you want to do business globally.
4. Check out whether your payment gateway allows for credit card, debit card and paypal payments.
5. Ensure that your payment gateway does not require you to fill unnecessary fields.
Here is a list of some of the best payment gateways used all over the world.
This is one of the popular payment gateways. It charges you $49 as set-up fee and $29 as monthly fee.
2. Paypal is one of the most used payment gateways, it accepts debit and credit cards payments and does not require any set-up fee or monthly fee. Most e-commerce sites use this method of payment
3. SecurePay.com is one of the popular payment gateways that offers online shopping cart and electronic check services. To transact on this payment gateway, you will have to sign up on SecurePay.com and also pay a fee of $400 on terminating contract.
4. 2Checkout.com, inc this one offers services in 196 countries and accepts payments in the form of credit card, paypal and debit card. It has low cost fees per transaction and there is no set up or monthly fees.
5. First data corporation this one offers credit card, debit card, gift card and many prepaid card options. This corporation provides some high quality transactions but has very steep transaction fees.
6. Blue Pay processing LLC this one is a relatively new payment gateway however it has low fees and allows for payments from credit cards and e-checks. It charges $15 monthly service fee.
7. Pay Simple this one accepts most major credit cards and e-checks on ipad and iphone. This charges a monthly fee of $34.95
Don’t allow payment gateways to act as road blocks to your online business. Choose one that suits your business and budget and get your e-store rolling.