How To Select A Payment Gateway

If you run your business online it is obvious that you need to utilize some payment processing software while without it you will not be able to accept payments on your web site. There are really few companies which decide to develop their own payment processing solutions because usually it requires a lot of time and money. That’s why merchants need to choose a payment gateway from the vast variety of the available options. So what are the things which you need to analyze?

1. Analyze pricing. While selecting a payment gateway pay attention to pricing models offered. You need a solution which will provide you with flexible pricing models depending on your processing volume. For instance, when you start processing many transactions processing fees should be reduced due to the elimination of the subscription fee or per-item fees.  

2. Consider the ease of integration. A payment gateway should be easily integrated into your web site. In the majority of cases your customer is simply redirected to the payment gateway’s website to complete payment, but you need a solution which can be integrated with the shopping cart software you are using.

3. Decide whether customer awareness matters. Sometimes merchants prefer to use payment systems like PayPal or Stripe, etc. while their clients have already used these solutions and they trust them. But usually customers care only about the security level; they want their data to be protected. So the best thing is to think first about the quality of the solution and then about all other factors.

4. Brandability might be important. Some businesses are interested in the solutions which will allow them to process payments ‘under their own brand’. It means that when a customer is send to the payment page on it he/she sees your logo instead of the logo of the payment processing company.

5. Find out how quickly you receive your money. It is natural that businesses want to get their money as quickly as possible. That’s why you need to clarify everything beforehand and choose a payment gateway which will meet your needs.

 Also those who are currently looking for a payment processing solution may consider UniPay Payment Management Platform (details you will find at the web site). Additional tips on how to choose a payment gateway for your business are available in the following article.