Top Questions to Ask Yourself While Selecting a Payment Gateway Service

A payment gateway service is undoubtedly becoming the need of every online business owner. With an overwhelming number of payment gateway service providers in the market, choosing a one that meets your business needs can be very daunting. In today’s article, we will list out the top questions to ask yourself before you partne

r with payment gateway service provider for your e-commerce website.

Question1: What are my business requirements?

This is one of the main questions to ask before you sign up with a payment gateway. It is very important to identify your business needs of having a specific payment gateway for your customers. You need to check what would be the impact of the payment gateway on your audience. The best payment gateway service supports multiple currencies and is available in the countries where your target audience is living.

Question 2: What would be the cost involved in opting for a payment gateway?

The next question to ask yourself is what would be the financial feasibility?  Different service providers charge different fees. Make sure that the transaction fee is not costing you much; in fact, you should ensure that it does not impact your business financially. You should know the overall fees structure charged by your payment gateway provider to avoid surprises in the future. Most importantly, the payment gateway that you choose should offer you the services as per your needs and most importantly at an affordable rate.

Question 3: Is the payment gateway secure for online transactions?

Security is the most important thing for an online merchant. If you want to retain your existing customers and want to attract new customers, you need to provide them with a payment platform that is safe and secure. For this, you need to check how secure your payment gateway for making online payments is. Partner with a payment gateway provider that is compliance with Payment Card Industry Data Security Standard (PCI DSS), which means they are well equipped to handle any fraudulent activities. Also, do check if they have the right fraud protection tools and measures to prevent any security breach.

Question 4: Do they offer the right customer support?

In case there is any issue regarding a transaction, how good is support system team and how quickly will they respond? If the payment gateway does not provide timely support, then the customers will have to follow manual instructions which can be quite frustrating for a user. Ensure that the payment provider offers a dedicated customer support service which is available both via telephone as well as mail and at the same time it should be quick and smooth.

Question 5: Will it integrate easily with your existing website?

You need to offer a great shopping experience to your customers, for this you need to choose a payment gateway that can easily integrate with your online store. The easier and simpler the integration, better it is for you and your customers.

Conclusion:

Once you are prepared with these questions, you can step out in the market and select the best payment gateway service that can answer all your questions.