An online payment gateway not only enables you to collect payments online that are made by your consumers through a number of payment modes, but it also helps your business to grow further.
Here are some criteria that you should consider while selecting a payment gateway:
The Number of Transactions Your Online Business Processes Per Month
If you make less than 15 transactions per month, you can settle for the “free to integrate” payment gateways like Google Check-Out and PayPal, among others. You will not be requiring a merchant account with these payment gateways, and they are also simple and easy to use. You will be required to pay for the transactions your business makes.
If your online e-commerce makes more than 10 or 15 transactions per month, your business website requires a well-integrated payment gateway that can be customized according to your e-commerce portal. Customization will help you to retain more customers and will expand your business reach. The advantage of these professional payment gateway services is that their costs decrease with the number of transactions you make. So, on a whole, the effective costs will be low here. You would also get your own payments page that will enhance your e-commerce’s repute on the internet.
As you are making a good number of transactions per month, the chances are high that your clients would be using different online payment modes for paying for your goods and/or services online. The best of payment gateways enable your e-commerce to receive payments through a huge variety of payment modes. You can collect your payments through credit cards, debit cards, cash cards, international cards including MasterCard and Visa, net banking (a professional payment gateway collaborates with multiple banks and financial institutions in India and other parts of the world), digital wallets and others. This would provide for a higher payment success rate and will help your online business grow faster.
Auto Billings
If you do auto billings, like receipt of EMI payments, you should use a payment gateway that provides you with your own merchant account also.
Reach of Your Online Business
If you serve international customers, your payment gateway should offer you multiple currency processing features.
Integrations
You payment gateway should blend seamlessly with your shopping carts and should provide for the usage of a number of billing plugins and online cart solutions.
Credibility
Only a PCI: DSS payments gateway can provide you full-proof security for the financial data of your clients and in other areas of importance.
Live Support
The payment gateway provider should have a fully dedicated cell of customer representatives so that all your issues, disputes, and problems are resolved expeditiously. This helps in the prevention of losses that your business may suffer when a payment gateway suddenly crashes.
Only the best payment gateways in India can work well and excel in all relevant areas, are secure and have the necessary features that make them, attractive and useful for the customers, who would like to come back to your e-commerce again and again.
