5 things to consider before choosing a reliable payment gateway
Living in the modern age has ended up being unbelievably simplified to the point that one person; who is interested in making a purchase online and is currently making that purchase at one corner of the globe only has to make a flurry of keystrokes on his / her computer or smartphone and presto, instant money transfer to the other person’s account. This is all thanks to reliable working of a payment gateway, that comply with PCI Data Security Standards, to make sure that payment procedures are carried out ‘safe and sound’ and lightning quick. However, you should never be in a haste to choose a payment gateway as not all of them feature the attractive perks that you are looking for to integrate to your online business. Here are some things to consider before choosing one.
1. How quickly are payments sent?
Some payment gateways can hold your payments for as long as between 15-30 days. That duration of time just to receive funds is simply unacceptable as we all know how overwhelming the competition is, prompting the user to receive the funds as fast as possible for future financial security purposes. As for reliable payment gateways; they only keep your funds for a maximum time of 48-72 hours after which the funds are deposited in to your account.
2. How easy can they make the integration process?
Reliable payment gateways are able to integrate themselves immediately in to the shopping cart feature present on e-commerce websites, not to mention that these reliable payment gateways can also integrate themselves with the bank where you have set up your merchant account. This makes the payment receiving process ever so simple and keeps the hassle count to a minimum.
3. What additional features will I get?
While the additional features will require you to pay a small fee, they will be well worth the addition. Most features that are added include free advanced fraud screening, while some of them include the most popular payments types as well as easily customized payments checkout pages to provide flexibility to customers.
4. Is customer available to question anything and everything?
Communication is always important for the facilitation of choosing a reliable payment gateway as the person choosing that service will get to know each and everything the service has to offer. This can range from initial charges, to hidden charges, to any form of features that will be assimilated to your online business. Customer care services provided by payment gateways are designed to run 24 hours a day / 365 days a year. Potential users looking to try out a payment gateway’s services can always inquire about anything they want to know in order to prevent any misunderstanding (due to lack of communication).
5. Most importantly, is it secure?
Reliable payment gateways comply with the highest form of standards set by PCI DSS. PCI DSS are constantly revising their standards in order to prevent future online theft incidents from taking place. Online theft is becoming more and more sophisticated and if payment gateways do not comply with their rules and requirements, then users will not look even take a glance at them in the future.
While there are an abundant number of payment gateways looking to provide their services, vetting each and every one of them to see which one provides the best payment plan, features and security goes a long way in protecting your business’ future.