6 Priorities When Choosing a Payment Gateway Service for eCommerce

Tuesday, January 18th, 2022

There is no doubt about it! If you want to make your e-commerce site a success, you must find the best payment gateway provider for your business.

 As the owner of an e-commerce store, it is inevitable that you will need a payment gateway provider at some point. Just like any other business, you also need to protect yourself from fraud, chargebacks, and other legal issues.

Trying to find the best payment gateway provider is like looking for a needle in a haystack. There are so many providers out there and each of them might offer different incentives and benefits. This is why you need to know what to look for when choosing a provider. 

Key Considerations for Choosing a Payment Gateway Provider

Here are some factors to consider when choosing a payment gateway provider:

1.  Fees

Gateway providers usually charge a fee for their services. If you are running an e-commerce business, it is advisable to choose one that offers free gateway services so as not to increase your costs. However, if you have a low volume of transactions, go for one that charges lower transaction fees.

2.  Security

Always check the security features and certifications that the payment gateway provides. This will help keep your customers, your business, and your transactions secure. To be on the safe side, choose a payment gateway with at least 128-bit SSL encryption and a PCI Data Security Standard (DSS) compliance certificate.

3.  User Interface

Your user interface can make or break your customers’ shopping experience. You want everyone to have a pleasant shopping experience, right? So make sure your payment gateway has an easy-to-use interface that can be navigated with ease by both merchants and customers alike.

4.  Customer Service

It’s just as essential to get good customer service from your payment gateway provider as it is from other businesses that you regularly deal with. You want to get immediate assistance If there are glitches in the system or something goes wrong during the transaction process.

5.  Integrations

Do you want to be able to accept payments from multiple channels, like PayPal and Google Wallet? Does your provider offer those options? Can you tie the payment gateway into your e-commerce site, so customers don’t have to leave your site to make an online purchase?

6.  Speed of processing transactions

If customers are buying products from your website and are paying for them with their credit cards, they expect that the payment gateway provider will not delay the processing of their transactions. Hence, if one service takes longer than others to process transactions, then they are not suitable for online businesses that sell products.

Last Words

There are plenty of other payment gateway considerations depending on your specific needs. Still, these six are a must-have if you’re going to enjoy convenient payment processing down the road.