How to Pick the Ideal Payment Service Provider to Boost Your Business

Setting up a new business can be challenging, especially when it comes to implementing a payment gateway system. It is important to choose the right payment gateway provider to ensure a smooth functioning and cost-effective system with a good conversion rate. Service providers such as Payment Asia are very flexible and are a great option instead of traditional merchant accounts. Most payment service providers offer API access guidelines to merchants so that they can connect the payment gateway to the corresponding application. The plug-ins are usually supported by some payment gateway providers such as Payment Asia are Wix, Shopify, ShopLine, WooCommerce, OpenCart, PrestaShop, Magento, and WordPress.

Points To Consider Before Choosing a Payment Service Provider

Here are a few technical aspects to consider when looking for the right kind of payment service provider:

1.    Location – Different payment service providers offer different features, and therefore based on the type of goods and services that you provide, you can choose either a local service provider or a global one.

2.    Mobility – Most customers and merchants prefer simple and efficient solutions, and hence it is better to choose a payment service provider that offers easy check-out options and one that is able to adapt to mobile devices as well. As per Payment Asia reviews, they provide mobile-app options that are simple to use.

3.    Compatibility – A payment service provider needs to be compatible with various online payment services. Take note of the various modules that the service provider offers. A service provider should be able to offer redirecting and API connections that would benefit your business.

4.    Security – One of the most important aspects to be considered is how secure the payment service provider is, as this will reduce the risk of fraud. Payment service providers need to follow certain security standards like PCI-DSS and other regulations. Therefore, when choosing your service provider, make sure they have the appropriate certification and are following the required security protocols.

5.    Varying fees – Payment service providers have varying fees, depending on the number of transactions and sales revenues. There could also be cancellation fees, set up fees, and even some monthly charges. Therefore, it is vital that you analyze all these aspects before choosing the right PSP.

Look for a reliable payment processing provider such as Payment Asia. By opting for a trustworthy processing provider, you can focus on other aspects of your business and enhance the growth potential of your business.

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How Can Your Company Benefit from PCI Compliance?

PCI DSS compliance is abbreviated from Payment Card Industry Data Security Standard. It’s an information security standard that contains security requirements for companies. These compliances come in handy when your company is dealing with intricate details data of the cardholders or the related processes. The compliances are uniquely designed and, thus, differ with the number of transactions carried out by each company. Not only is it a mandatory requirement, but also is a great shield from major online frauds and data breaches. However, only a few gateways like Payment Asia include PCI DSS regulations. Read on to find out how your company can benefit from PCI DSS compliance.

Builds a trusted customer base

Every company needs a trustworthy customer to ensure a good market reputation. Thus, payment gateways like Payment Asia include PCI DSS compliances. It is a hallmark that shows that your company values security information, thereby creating a trustworthy customer base. The compliance does not rule out data breaches completely; however, it does provide the necessary steps that you can take in such a situation. Requirement 12 of the PCI DSS compliance provides regulations that a company needs to resort to in case of a breach of information.

Builds a data-protection wall

PCI DSS compliance ensures a data-protection wall for gateways through 4-level wall of compliance. The level of the compliance processes is designated based on the number of transactions per year. Thus, if your company has over six lakh transactions per year then it will include the first level of compliance. However, if the per year transaction process rate is between one to six million, it will fall to the second level. Thus, the more the number of transactions, the more rigorous will the compliance process be. Payment Asia reviews often reflected customer satisfaction for the compliance regulation and the safety that it lends to business owners and their customers.

Builds dynamic processes

Changing with time and enhancing the compliance processes is one of the many reasons for ensuring PCI DSS compliance. Thus, gateways like Payment Asia ensure that your company is not just protected and prepared for current threats but also braced for emerging threats. The compliance process develops new patches for the development, protection, and maintenance of the security systems of your company. As mentioned in Payment Asia reviews, the added feature of built-in fraud detection minimizes damage and eradicates data breaches by online frauds.

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