How To Choose A Payment Gateway For eCommerce Platform

18

MAY | 2016

payment gateway ecommerce

A payment gateway is an application that allows you to transfer funds securely from your credit card. The payment gateway collects all the credit card information, authorize the transaction and then the fund transaction will process securely. Many payment gateways require you to have a merchant account, which can take some time to get set up. It could take a week or more to set up a merchant account. Choosing a payment gateway provider is something specific decision.

Below are some points to decide you a better payment gateway,

  • Integration

  • The payment solutions that you are choosing should be able to integrate with your platforms. Your platforms could be Magento, Wordpress, Pretashop, Drupal or something else. Some platforms doesn’t support some payment gateways. So select a gateway that will work on existing platform.

  • Pricing

  • You want to check the payment gateways charge for every transaction. It will be different for different gateways. You want compare the charge of payment gateways and try to find gateways that have reduced pricing for smaller stores.

  • Security/Fraud

  • Online fraud is a growing issue for eCommerce business. Fraud activity can cause damage your brand and reputation of your business. Choose a payment gateway that provides the higher security, it can save your brand value and reputation of your business.

  • Reliable and Support

  • Payment process is important in ecommerce business, so your payment gateway provider should be reliable and available in high volume implementation. It is good to look at the type of support that is being offered. Customer support can vary for different payment gateway providers.