Are You Using The Right Payment Gateway For Your Ecommerce Business

In the recent times, Ecommerce has become the fastest growing market segments. The competition is all time high and a wrong choice can be catastrophic for your Ecommerce business.

The success of your online endeavour depends mainly on how well your products are being sold to your customers. Most of the entrepreneurs will review their product or service quality from time to time, but what about the types of payment options available to your clients?

If you are running an Ecommerce business, you should know how to choose the right payment gateway so that it will fulfil all the needs of you and your target audience.  Implementing the right payment gateway can ensure long-term success of your Ecommerce business.  Here are some of the options when it comes to Ecommerce payment gateways. Choose the one that is the best fit for your business.

Traditional Payment Gateways

Traditional model is the most commonly used option by merchants. In this model, the payment gateway partners with a merchant acquirer like an Independent Sales Organization (ISO). The gateway just provides the software for conducting transactions and does not interact much with the clients. Most of the interaction is done by the ISO but if anything goes wrong and if the clients wants to make some changes, then ISO has control over the platform that is being used.

White Label Payment Gateways

This is a technology solution that serves payment providers and enables them to use third party technologies. They even support payment acceptance for their customers. White label payment gateways allow merchants to set up multiple IDs and separate accounts for specific locations for their business without increasing the number of parent accounts and login profiles. In this, ISO has more control over the quality of service that is being offered to the clients.

Payment Facilitators

Payment facilitators use a multi-tiered system and merchants that sign up under them are given sub-merchant accounts with a separate account and merchant ID. The best part about payment facilitators is that their cost structure is of flat rate and highly transparent.

In order to get your Ecommerce business up and running, Ecommerce payment gateway is one thing that you cannot do without. There are many payment gateway providers in the market. Even though each of the payment systems may seem equal but the quality and features of its each of them vary. Choose a gateway that guarantees you seamless and easy transaction and secures sensitive data of your customers. Make sure you find out all the options as a wrong choice call be fatal for your business.