Friday, September 28th, 2018
Are you an eCommerce merchant running a business in Europe? Do you want to know what role the payment gateway market plays in Europe, and not only? This article will tell you about the current trends. Also, you’ll know how to get the most honest snapshot of companies like Secure Trading.
Global Payment Gateway Market: Secure Trading
A payment gateway is a secure means for your customers to submit their payment information, including credit/debit card details, on your website.
Payment gateways encrypt data (via SSL) and work with your bank to find out if the payment is legit. In the case of legit payments, the money quickly goes to your bank account. Otherwise, the payment gets rejected, and you can avoid unwanted chargeback fees.
Europe played an important role in the global payment gateway market, accounting for millions of US dollars in 2017. In 2016, the global payment gateway market made up US$ 30.6 billion, and is growing with rapid advances.
Just because you’re the owner of a business based in the UK, doesn’t mean your customers must be based there too. If you’re going to ship overseas, go for a payment gateway that can accept multiple foreign currencies. In this case, you may be charged higher transaction fees. So, build your plans accordingly.
To enjoy the lowest rates for a payment gateway, turn to a respectable payment expert like Best Payment providers in the UK that can help you find the right merchant services for your business. Best Payment Providers can help you not only with Secure Trading but also with other payment services providers to guarantee the best deal for your company.
Best Payment Providers, a reputable comparison company, offers free consultation, review of contracts, rates, and fees. Best Payment Providers understands that integration requirements are as much important as fees and customer service, so each provider’s integration process will be checked. This way, you can be sure to enjoy a smooth transition and onboarding process.
Importantly, Best Payment Providers delivers the most honest snapshot of the company at the time of writing. Thus, you’ll stay away from unnecessary payments caused by misleading terminology, hidden costs, and deceptive sales tactics.
Global Payment Gateway Trends for Merchants
Merchants worldwide are working on expanding their businesses cross-border. They aim to do this with the help of a logical approach, and via partnership with payment gateways. Such partnership enables these merchants to gain the advantage of tapping the opportunities given by the eCommerce globalisation.
Hosted payment gateways continue to play a dominant role in the space. Nowadays, the majority of payment gateway deployments are hosted. This type of payment gateways offers the highest level of convenience. Also, it’s extremely economic. Hosted payment gateways are highly secure, user-friendly and can be customized.
The main trend in the market has to do with the development of payment gateways by merchants themselves for the purpose of managing large volume transactions. Major eCommerce players are building their own payment gateway solutions accompanied by eWallet services.