Five Features to Look For in an Online Payment Gateway Solution

Choosing the right Hong Kong online payment gateway is of prime importance while setting up your e-commerce business in China. Here are some features you should look for to ensure a smooth and secure payment process for your customers as well as increased turnover for your business.

Must Meet Basic Expectation

Not all online payment service providers are the same but their primary function is to help merchants accept payments from customers through a variety of methods such as credit cards, debit cards, real time bank transfers, mobile payments and electronic wallet payments like Ali Pay, WeChat Pay and Apple Pay. They bring everything together seamlessly – ensuring payment flexibility for consumers and efficient transfer of funds for merchants. 

Look for Flexible Solutions

Different online payment service providers have different capabilities. Some may be able to support only a few payment methods whereas others may support the full range of payment methods. Some are able to support multiple currencies and settlement in multiple currencies while providing flexible settlement schedules. Such features come in handy when you have business presence in neighboring countries or you’re looking to break out on globally. Ideally, you should make a choice by keeping in mind your present and future requirements.

Ensure Security during Transactions

The next most important feature to look for in an online payment gateway solution is safety and security during payment processing. With the growing risk of credit card theft and personal information theft, it’s more important than ever before to offer secure payment channels. This will help protect the reputation of your business as well as the interests of your consumers. Select a PCI DSS Level 1 Compliance service provider. PCI DSS, meaning Payment Card Industry Data Security Standard, is a mandatory certification for anyone involved in using or securing credit card information.

Find Out About Value-Adding Features

Transaction reporting is another feature to look for. Basic reporting features help merchants reconcile transactions either in real time or through monthly reports. Advanced reporting features allow merchants to track customer purchase behavior on their website. Using the information provided in such reports, merchants can personalize payment processes for individual customers and thereby enhance their customer service. It’s no secret that shoppers look for a superior customer service while shopping online and with an optimized payment experience, businesses are more likely to ensure customer loyalty. 

Make Sure There’s Expert Tech Support

An online payment service provider that has an expert technical support team is more likely to provide cutting edge solutions like seamless integration for all payment channels, state-of-the-art API for complete automation, innovation transaction solutions and development of custom tools. In addition to this, you should also look for 24/7 technical assistance in case of any disruption and customer service support in the language that you prefer. The best service providers provide a complete bouquet of service offerings including advice on account monitoring and fraud monitoring. 

Payment service providers offer different types of packages that include standard and premium features. Consider which feature is essential for your business and make the right choice according to your needs!