Choosing an E-Commerce Payment Gateway

The world economy is largely dependent on e-commerce businesses. And there is no dearth of options when it comes to selecting payment solution providers or e-commerce payment gateways.

So what are the factors to consider when looking for a reliable e-payment technology provider? The article walks you through some of the most important criteria to look for while exploring your payment technology options.

Multiple Payment Systems

Unlike conventional online payment services, modern e-commerce solution providers like to go for a range of payment modes. These include credit and debit cards, e-wallets, online bank transfers, etc. However, modern-day customers do not like to be restricted to conventional solutions like debit or credit cards. The advancements in e-payment technology and financial sectors has brought fort new payment systems like E-wallets, PayPal, Google Pay, Apple Pay, etc.

Most consumers like their e-wallet payment systems simply because of the convenience of the mode! An e-commerce payment gateway provider hence needs to ensure that the organization offers all the payment options for their customers to choose from.

Mobile Payment Systems

Today’s generation is hooked on to their mobile phones. The convenience of making purchases, booking resorts or ordering groceries through smartphone apps is unbeatable. Mobile payments are hence the trend of the day. 

Customers get the convenience of downloading simple smartphone-based apps that allow them to make online purchases through a one-click option (and scanning the QR code).

Mobile payments have multiple advantages to offer.

They are fast. They are safe. And they are absolutely convenient.

Modern-day e-commerce business owners prefer paying through their mobile applications as a cashless means of transactions. Additionally, it makes it easier for business owners to keep track of their transactions with instant reports.

Multiple Currency Transaction Support.

Businesses need to expand. That’s the first purpose of setting them up. They are intended to move beyond the country levels and grow globally. However, in order to manage customers outside a home market, it is important to consider an e-commerce solution provider who offers the choice of transacting in multiple currencies.

Customers should be allowed to pay in the currency of their choice and offer flexible settlement schedules while transacting in multiple currencies. Providing easier settlement solutions to e-commerce business owners helps them to grow in the global markets.

Adequate Security

When a business owner looks for a reliable e-payment technology, the safety and security of their financial information is the first thing that they look for. Ensure that the service provider you choose is compliant with PCI DSS Level 1. These are mandatory compliance criteria devised by the credit card industry to ensure the secure processing of financial information.

Extra Features

In addition to payment processing, e-commerce service providers these days offer a host of other services and technological solutions. These include API, account management, real-time monitoring, fraud detection, and various other services. These are usually provided as add on services to the financial transaction part.

A service provider with a professional and technical team along with the technology solutions to include all the aforementioned services is perhaps the best e-commerce service provider to go for.