An eCommerce revolution is happening and it’s absolutely transforming the way we are conducting business. One of the most crucial aspects of managing a successful eCommerce platform is accepting payments and watching the money flow in- it just has to be done the right way! A payment gateway is the perfect choice for an online business as this is a wonderful application that allows a store to securely request payments from customers. It is highly flexible, can be customized to preference and makes payment processing look like child’s play! A payment gateway is your doorway to making sales online and allows you to charge your customer’s credit/debit card with the transaction amount that they make online.
A plethora of payment gateway service providers are available in the market for your business. However, choosing the perfect payment processor may prove to be an overwhelming task and you need to be sure that you choose the best option. So, how do you know if your payment gateway is working for your online business? Is it providing your eCommerce platform all the desired benefits? Let’s have a look a few interesting pointers that will help us recognize how good our payment gateway service provider is:
- Personalization –Let your payment gateway be an extension of your online business by making it reflective of your website’s business mission! Customizing your payment gateway page will go a long way in helping your customers retain your brand identity in the long run. You should be able to add a personalized merchant logo that conveys your brand message in an impactful manner. Your payment processor should be able to be customized by adding features and functions that serve your business requirements. Select information to be displayed on the payment page, what payment options should be displayed and the page design which includes background, font, text size and logo. Adding personal alerts and reminder messages during online payment is also an amazing way to create a strong connection with your customers and increase bottom line results.
- Scalability – One of the most essential questions to ask about a payment gateway is that will it grow with your business? A good payment gateway service provider needs to be scalable; it should have the inherent capacity to expand to fit in the growing payment needs of an online organization. It should be capable of quick updates and should accept new methods of online transactions easily. Your payment platform should have the ability to conduct a very high volume of transactions in an error free and reliable manner. It is essential for your payment gateway to keep adapting new technology in the dynamic arena of e-commerce, so as to give a thrust to seamless transactions and business procedures.
- Security –Security is an integral component of all payment gateways, as sensitive data needs to be protected from any misappropriation. There are innumerous cases of fraud, hacking, phishing attacks and embezzlement of funds that are grave threats for any business. This makes it absolutely essential to invest in a trustworthy and secure payment gateway system. Your provider should cover basic security requirements such as PCI compliance, tokenization, 3D secure, Verified by Visa, fraud protection tools, etc. Having a secured server to handle and record the confidential information of your customers will enhance the efficiency of your service and the accuracy of online transactions. A reliable payment service provider means no worrying about online fraudulent activities and ensures that your customers have the highest level of trust in your business.
- Mobile Adaptability– The world is moving towards mobile transactions at a rapid pace, and most people simply use their smartphones rather than desktops for online shopping. Make your payment gateway mobile friendly – it will enable you to be a better service provider and also capture a huge share of an untapped market as majority of e-commerce customers shop through their smartphones! From an online payment processing perspective, your business should always be facilitating mobile solutions within your overall payments strategy. Integrate technology apps that work in sync across mobile devices, online and in-store to provide a hassle-free, seamless and smooth payment experience to your esteemed customers.
- Customer Support– The presence of an efficient customer support team will spark the image and quality of your business service. Online customers need to know that they can always get support from a portal, especially to help them manage their payment options. Your payment gateway can provide excellent customer service through a variety of open channels for email, mobile and telephonic support. A live chat is also an effective method to communicate with customers, and can help to troubleshoot problems which they encounter during the payment process. Providing 24 hours service to your clients with technical consultation and customer assistance will make them feel comfortable and trust your business in a positive way.
- Functionality – It is essential to ensure that there is unified technology integration through the payment gateway and it provides a delightfully smooth payment ride for your customers. Your payment gateway needs to be user friendly in its approach and speedy in processing, as this will save your customer’s time and magnify bottom line profits. Have a trial run to ensure that there are no roadblocks in the payment process. Modern payment processors have numerous useful options such as multiple login options, security seals, authentication checks and integrated payment processors. A versatile payment gateway is an essential tool that will help your online business reach new heights of success.
These essential indicators will definitely help you gauge whether you have chosen the best payment gateway for your business. Invest in spending considerable time, money and effort before you finally decide on your payment processor as it has the power to revolutionize your online business. Make your eCommerce platform gain amplified visibility and increase your customer base exponentially by having a payment gateway interface that is compatible with numerous channels and mediums. Cutting-edge technology, affordable pricing, multiple payment options, easy-to-use tools, and user-friendly service make payment gateways a must-have for your business!
Author Bio:
Bhavesh is a Software Analyst for SoftwareSuggest and Marketing Expert for CallHippo, a company that helps connect the buyers and sellers of software. He covers topics in a variety of markets including real estate, accounting, eCommerce platform and others digital things. In his spare time, he enjoys reading and spending time with friends and family.
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