When you’re running a business selecting payment gateways is one of the most important decisions that you will have to make. Payment gateways are one of the main tickets to your financial success.
If you have been struggling to select a payment gateway then there are a few tips and tricks that you can use to ensure that you make the right selection.
Here’s a look at the things you need to consider when selecting a payment gateway.
The Cost
One of the most important things you need to consider when selecting a payment gateway is the cost. There are monthly fees that you will have to pay, transaction fees and even set up fees.
You will need to take a closer look at what is on offer from the payment gateway provider and decide what is right for your business. You need to carefully take a look at the number of transactions you will be doing through the payment gateway and how many fees you will have to pay for each transaction.
Do the math to find out whether or not it is in your business’s best interest.
Cards Supported
You need to make sure that the payment gateway that you are using will support the cards your customers are using. The most popular types of cards are MasterCard and visa. If your customers like to use other cards besides these you should find out from the payment gateway provider you are considering whether or not you’ll be able to use these.
There will always be customers that prefer to pay with debit cards instead of credit cards. You should make sure that these are supported by the payment gateway as well. If you fail to do this you may be leaving a lot of money on the table.
When customers cannot pay in the way they are most comfortable they are likely to move on and find somewhere else where they can get the product and service and pay in a way that’s comfortable for them.
Mobility
The mobility of your payment gateway is something you need to consider if you like to participate in events outside of a brick-and-mortar building. For example, if you like to participate in trade shows and sell your products and services there you may want to consider making your payment gateway mobile.
If you also participate in fairs and craft shows it is a good idea for you to be able to accept payments while you are on the go. A payment gateway that provides this kind of flexibility is ideal for your business. You can try this mobile credit card reader to get started.
Make the Right Choice
Selecting the right payment gateway for your business is something that can be tedious. However, when you have prerequisite knowledge about exactly what should be kept at the forefront of your thoughts when selecting a payment gateway it makes the process a whole lot easier.
Collecting the profits from your business should be done in a way that is comfortable for both you and your consumers. Make sure that you do due diligence before selecting a payment gateway provider.
Websites by Masterhouse
Masterhouse Media is an innovative digital consulting agency from Vancouver, BC specializing in web development and mobile apps. Masterhouse is best known for launching the popular Internet portal Clubvibes.com in 1999, one of the first social media platforms on the Internet. The company is currently focused on building digital strategies and premium websites for clients. Find out more at masterhouse.net
