With eCommerce booming, many businesses are now opting to sell their products and services online. To be a successful online business, you will require a payment gateway. While it is no longer a challenge to set up digital payments, you need to choose a gateway that suits your business and fits into your budget. That is why you should consider the following factors when you are checking out payment gateways.

The Correct Payment Flow

Your business will grow with time, and hence, you should ensure that the gateway can scale when that happens. Make it a point to check the payment flow. First, you should be able to integrate the gateway with your website and it should transmit data securely.

Also, the gateway should use iFrame to keep customers on your site when finalizing the purchase so that they are not taken to a third-party site. It evokes trust in customers and makes them feel more comfortable.

Effortless Integration

Whether you are targeting browser or mobile users, ensure that the gateway integration is easy. If you are using one of the popular eCommerce platforms, such as Magento, WooCommerce, and Shopify, the gateway should be compatible with them.

The best gateway should not mess up the user experience with a slow payment process. Your customers should be able to use the gateway effortlessly and quickly and also choose a payment method that they are comfortable with.

Safe and Secure Transactions

Customers are more likely to complete a purchase if they know that your website takes security seriously. You can assure them by offering secure payment options. So, make sure that the gateway is PCI-DSS compliant. That way, customers will not hesitate to save their card details on your site.

Furthermore, the gateway should have fraud protection measures and dual-layer protection in place to keep you and your customers safe from fraud and security breaches.

Fees and Service Agreement

Understand how the gateway levies fees. The fee structure should suit your business model so that you stand to gain rather than lose. Some gateways charge based on the consistency of revenue and the number of sales you make. Some others also consider transaction frequency to charge clients.

So, look carefully at all the charges, including setup fees and the penalty for not meeting order or transaction value before you decide on the right payment gateway.

Seamless Transactions

Most customers abandon the cart if the buying process is not seamless. Find out if the gateway allows you to provide the option of checking out without forcing your customers to register. That will minimize abandonment.

Similarly, the gateway should have a quick and simple checkout process so that you can boost conversions and prevent your customers from stopping midway through the buying process.

Multiple Currencies

If you want to expand your business, you should look to sell to customers beyond your geographical boundaries. So, it is nice to have a gateway that allows you to accept payments in several currencies.

Research shows that international customers are happier paying in their currencies as they can make sense of what they are paying rather than doing complication conversions based on the exchange rate. So, with the right gateway, you will be able to provide this facility t your customers.

These are some of the factors that you need to keep in mind when you are looking for a payment gateway. Choosing the right gateway will allow you to get a steady stream of revenue and offer a superior buying experience to your customers.