Online enterprises are booming nowadays. More and more merchants are looking to shift their businesses online. Hundreds of online websites are launched selling various products and services daily.
You should start working on a few key things if you are also looking to shift your businesses online. Accepting payment from your customer is a vital part of any business. As a merchant, it is your responsibility to provide your customer smooth and secure payment experience. And for this, the right payment gateway provider is essential. The right payment gateway provider makes the process easier for customers and merchants.
Before making your important decision, you ought to keep some points in your mind and consider that points in your selected payment gateway provider.
Important Factors Your Selected Payment Gateway Ought To Have
Choosing the right payment gateway is the most crucial decision for any merchant. You might lose money and customers if you choose a gateway that does not fit your business models.
Below are important factors that, as a merchant, you should consider on your payment gateway provider –
Have an appropriate payment flow –
The payment gateway should be able to grow with the business without any problems. To add a payment gateway to a website, merchants must decide which payment method is best for their enterprises.
Integrated payment forms –
In this option, payment information is sent via a specific form. All the sensitive data included in this form send to the gateway provider via API calls. It also needs additional programming.
iFrame or redirect for payments –
Customers can either be sent to a hosted, secure payment page or be requested to input their data in an embedded iFrame on the website. As the iFrame solution integrates more quickly, developers can prefer it.
Having an Escrow system –
Some enterprises also prefer this payment gateway option. Before the merchant gives the necessary authorization, a safe escrow system embedded into the online platform can withhold cash. The traded monies of the two parties will be securely arbitrage.
Choose The Right Service Providers –
For any online business, a payment gateway provider is required. A payment gateway allows the customer to buy the services or products, whereas the merchant receives the funds hassle-free. It is the merchant’s responsibility to figure out how to add the payment gateway on their websites. It does not mean that merchants have to do it by themselves. Merchant can easily hire some professional developers who take care of this. Always choose the best service provider for your business.
Safety is the Priority –
As a merchant, your customer safety is your priority. Ensure that the selected payment gateway provider is certified with the PCI DSS compliance, PCI standard, etc.
If the merchant is running a small business, customers also expect high-quality websites that offer high-quality and secure payment options. Some payment service providers also allow the merchant to customize the payment experience according to their online websites.
For example – They allow the merchant to use their brand or logo on the payment page and the color palette.
Fees and Agreements –
Each payment service provider has its pricing structure. The payment gateway pricing also depends on the business sales, transaction frequency, and the payment mode merchant chooses for their websites.
Some payment service providers also charge for the setup, early terminations, and monthly fees but not all service providers.
Easy Checkout Process –
According to the research, in 2021, 79% of customers completed the checkout process using their mobile devices. And these figures are increasing steadily. As a merchant, you should look for payment gateway options compatible with all networks and devices such as mobile, laptops, personal computers, etc.
Offer Multiple Features –
Payment gateway provider offers various features. You must choose the payment gateway according to your enterprise’s needs.
For example – If you are running a global business, you must choose a payment gateway provider that supports multi-currency and accepts several credit cards like Visa, MasterCard, American Express, etc.
Also, ensure that your selected payment gateway has innovative chargeback management, electronic invoicing, support for local payments, etc.
Easy Integration Process –
Always go with the payment gateway provider that offers an easy integration process. The best idea is to go with the payment gateway provider that does not offer a slow payment process and has an easy integration process with a fast checkout process.
Merchant Account –
A merchant account is essential to receive online payments. Do you know what a merchant account is?
The fund is transferred to a separate account when a customer makes an online payment through a payment gateway. This separate account is known as the merchant account, which differs from the existing bank accounts.
The fund is stored in the merchant account for some time unless and until it gets approved. Once the customer’s processing bank approves the fund, it is transferred to the bank account. This merchant account offers an extra layer of security for the merchant and the customer.
Recurring Billing –
Enterprises with monthly payment plans require recurring billing because it enables the merchant to set up an automatic billing cycle for their customers. Recurring payments are generally for subscription-based services like Netflix. Moreover, non-profits have discovered the value of recurring billing since it makes it simple for the groups to collect money from regular contributors.
Mobile payments –
It is expected that, in the upcoming years, mobile payment will replace credit cards. With the help of mobile payments, customers can quickly transfer money using the top branded app or with mobile-optimized sites.
The popularity of digital wallets has changed the world, and nowadays, payment gateway is adding support for all major digital wallets.
24*7 customer supports –
Make sure your selected payment gateway has excellent customer support to resolve any technical problems at any time.
Why choose Instantcharge as your payment gateway provider?
Nowadays, you can find many payment gateway providers in the world. But we suggest you choose Instantcharge as your payment gateway provider Poland. Instantcharge is one of the world’s best and most popular fintech service providers.
Instantcharge fulfills all the criteria we discussed above. The best thing is that it accepts local payment solutions from all over the world. It offers a simple pricing structure with no extra charges. It I s also compatible with mobile apps.
Instantcharge offers you many benefits such as – Global e-commerce solutions, Online payment processing, Recurring payments, and many more.
Final thoughts –
To choose the best payment gateway provider for your online business, you must keep some points in mind, such as business needs, customer requirements, security, and many more, which we have already discussed above.
As a merchant, if you choose the best payment gateway provider according to your enterprise’s needs, it will help you increase your business’s longevity, excellent customer satisfaction, customer trust, and durability. It helps you to make your online business go a long way.
We suggest you go with Instantcharge as your payment gateway provider. It offers the best solution to your business needs at the best market rate. You can contact our expert team without hesitation to know more about Instantcharge.
