How To Choose The Right Payment Gateway

January 5, 2021

Thanks to modern technology, the business has virtually no boundaries. Even a small business can grow and become global, but for that, at the very least, there must be a website with the ability to pay online. As far as the site goes, e-commerce platforms come in handy here. They make it possible to assemble an online store on your own, even if you are not an IT specialist. Payment service providers who develop solutions for receiving and processing payments will help with online payments on the site.

To set up a convenient payment acceptance, it is important to choose the right payment gateway integration. But first, let’s figure out what it is and how exactly online payment providers work.

How does a payment system integration work?

The first step is to pay attention to the features. For analysis should be taken into consideration such details:

Network security. The number one priority for those who are looking for a payment gateway is security. For most of the customers it’s rather important to be confident. All the given financials must be safe. The loyalty of customers is expressed in this way. The use of credit cards online must be protected.

Customer experience. The main feature of the payment process is smooth flow. For customers it must be convenient. If there are too many steps and it’s too complicated, the customer can move to another place.

Fees. On payment gateway the fee structure will be different. It must fit the budget and be reliable.

The most popular payment gateways

If you decide to create your online store, then among the other tasks set before you, to make your dream come true, there will be another one. You will need to choose which payment system will be most convenient for buyers so that it is easy for them to pay for the selected product of payment gateway development company. And this system should also suit you personally so that you can accept payments on the website of your store.

What are a payment gateway and payment system?

The number of payment systems and payment gateway integration services is now very large, it is very difficult to choose one of them. Some people get confused in terms of a payment gateway and a payment system. Let’s figure out what each of them means:

A payment gateway is a group of programs that are a way of connecting payment systems to the site of your online store.
The payment system, however, is a way of transferring money from the buyer to the seller.
Among the most popular payment systems, registered today are WebMoney, QIWI, VISA, Yandex.Money and many others.

Why is choosing a payment gateway so important?

The correct choice of a payment gateway is the key to the successful development of your Internet resource. After all, the seller needs to ensure the safety of information and personal data that the buyer transfers to him when making a payment. The buyer, in turn, will appreciate the speed of the payment and the high level of security during data transmission. This will give him an incentive to make another purchase in your store.

Now a huge number of companies offer their services for connecting gateways. Today, all of them have the opportunity to process payments from a bank card of any financial organization.

What should be considered when transferring and accepting funds on the Internet?

Pay close attention to the interest that the payment system deducts when transferring a payment. If the percentage is more than 8, then such a system is not profitable, and when using it, you will lose a significant part of your money. Choose systems in which the percentage is less than 5.

When choosing a payment system, do not hesitate to write to the support of the site and find out all the details that interest you.

And remember that a high-quality system provides a huge range of services without ripping off sky-high interest rates from its customers.