As soon as you receive the OK to accept credit cards, the next step is to choose a payment gateway. If your merchant account provider already has a designated gateway for you to use, then that is good news. Indicates that a relationship is already established. Both extremes know how to meet successfully in the middle. Alternatively, the provider may have established partnerships with multiple gateways. They simply refer to you and allow you to select the best payment gateway services. Or you may stop looking for a payment gateway on your own.
However, selecting a payment gateway needs meticulous care, connecting with the wrong one can bring your sales to a halt. The purpose of this article is to provide the necessary advice to find the right match. Have a look,
Assortment
To be more effective, select payment processors, which work with all major credit cards, including MasterCard, Visa and American Express.
Compatibility
The selected gateway must be integrated with the shopping cart software. Although, all the major gateways are already configured to talk to most of the shopping cart, it is never bad to verify that your gateway is compatibility. On the other hand, if your shopping cart is a lesser known or custom designed software, you should have to do some programming so that your gateway will communicate with your site.
Timely Payments
Select a gateway that deposits your money within a few days at the most. Each payment gateway service has its own rules for when and how to make the payment to your bank. So choose accordingly.
Accessibility
Make sure you can view the status of your transactions in an online report along with other management tools. Never leave this option down, this is another factor that can determine your sales.
Customer service
With any payment gateway service provider, make sure that they have customer service support at any time of the day or night.
Security Requirements Required for Payment Transactions
The payment gateway you choose must have the following security requirements:
* Confidentiality – Protects the privacy of the user and prevents the theft of company information both stored and in transit.
* Integrity – Data integrity is achieved by preventing unauthorized or inappropriate data changes that ensure internal and external consistency.
* No repudiation – It is the duty that guarantees that neither the sender nor the recipient of a message can deny the transmission.
Rich in functions
Check your payment gateways if you allow recurring billing, additional payment options, and fraud protection tools, etc.
Along with the above factors, look for payment gateways that offer secure payment processing of mobile devices.
