Payment Gateway Best Practices

While at a cursory glance, most payment gateways may seem similar, a more in-depth look and analysis reveal the significant and important differences between them. While all of them are able to process credit card payments, the cheaper payment gateway services, lack a modern technology platform, security features, and other demerits that cause loss of reputation and revenue in due course of time.

The best and leading payment gateway services offer high-value services that have world class security, and can provide for customer and merchant convenience. The optimal mix ensures that your eCommerce enjoys a favorable reputation on the web, and is up and running at any time of the day. When looking for a payment gateway that has best practices to follow, the merchant should look into the following considerations.

Convenience

There are many reasons that prove that a payment gateway is a lot more convenient than its other counterparts. The PSP should provide for daily settlements of payments, and should transfer them directly to the bank account of the merchant. A payment gateway should also have modern features, including the Turbo Checkout and Auto Pay feature (for instance EBS) so that the customers are not required to enter the same personal and financial information repeatedly. Customers should be allowed to set up the subscription payments, at no allied or extra costs. The payment gateway should also seamlessly integrate with all kinds of major shopping carts.

Value

A payment gateway should get a free merchant account when it opts for payment gateway integration. The fees should be charged on a monthly or a yearly basis. The payment gateway should be able to process all kinds of payments and there should be no or minimum allied/extra costs. All charges and costs should be clearly detailed upfront to the merchant, and the whole setup should be transparent. The service should also have a dedicated RM or relationship manager to heed to the requirements of each merchant, and should have a well staffed and well-trained customer service cell that can resolve all disputes and other issues in the least of time, thereby reducing or null the incidences of chargeback.

Security

A payment gateway that complies with the PCI: DSS standards can process all credit card payments securely. It is even better if the payment gateway service has other proprietary software for securing credit card and other online payments.

Support

The payment gateway should offer the merchant and the customer all kinds of accessibility options so that they can access it through web chat, email phone and even physically any time they wish.

The Merits of a Global Payment Gateway

Any online business or e-commerce wishes to have an international reach. The integration of a global payment gateway into the business website can only bring in the required set of features. The modern features ensure higher payment success rates and security, among other desirables.
 

Worldwide Payment Collection
 

A global payment gateway like EBS can provide your e-commerce the capability of collecting payments at any part of the globe. You can collect payments in more than 72 currencies. You can also collect payments through international cards, PayPal and other international modes of payment collection, by using the modern payment gateway. The best of payment gateways also offer you language customization of the payment pages, so that you can easily collect payments and present information to the users in their own native language.
 

Localization
 

The merits of localization for e-commerce are immense. The language customization brings to your e-commerce the desired regional and local popularity. The customers feel more bonded to your business websites, as it displays to them information in their own language. While English is the international language of business, you stand to gain much greater revenue if you connect to your online customers in their mother-tongue and native languages. The customization of the payment pages and website can also provide for the inclusion of region specific logos and symbols that provide for greater rapport with customers. A local effect also establishes repute of your international business and makes it worldwide acclaimed.
 

Intelligent Routing of Online Payments
 

The global online payment gateways have multi-bank connections. For instance, EBS is part of Ingenico Group, an international payment processor having ties with more than 1000 financial institutions and banks across the globe. Ingenico has a presence in 125 countries and 6 continents of the globe. As the payment gateway ties to a number of international acquiring banks, your business gets the best conversion rates.
 

Optimization
 

A global payment gateway has a modern payment-processing engine that routes every transaction to best of the banks. This ensures greater payment success. The bank may be within India or anywhere on the globe. The professional payment gateways also monitor the success of payments or their conversion rates on each day. The analysis reports are used for optimization of transaction approvals.
 

Security and Fraud Prevention
 

The best of internet payment gateway having global functionality has the best of resources for ensuring the security of credit card information, financial and personal data of customers/merchants and other data and functionalities. Your e-commerce needs to undergo a minimum of scrutiny relating to PCI: DSS compliance, as these payment gateways fully comply by the PCI: DSS 3.0 norms. The best of payment gateways also offer you a number of other programs for fraud prevention. These include Device Fingerprinting, IP Geo Location amongst others.

Features of Top Payment Gateways in India

While the online web marketplace offers you a plethora of online payment gateway options, only some of them manage to have all the best features that are required for making an online payment collection process successful, secure and customer friendly. Here are some of the features of top payment gateways in India.
 

Boosting Of Payment Success Rates
 

The best and most professional of top payment gateways in India like EBS offer you 100 + payment options for making your payment collection process successful. With the quality and successful payment gateways, you can collect payments through debit and credit cards (including Visa, MasterCard, Discover and others), net banking, cash cards, digital wallets, EMIs and other payment collection modes. The best of payment gateways also have in them unique and sophisticated technological Features like Smart Routing and Auto Pay that provide for time-saving and successful transactions.
 

Fraud and Risk Prevention
 

The reputed payment gateways also provide you with exceptional fraud and risk prevention features and benefits. EBS payment gateway screens and pre-screens all the online transactions through advanced algorithms and other parameters so that you only process legitimate transactions. With features like Device Fingerprinting and Behavioral Mapping among others, you can always have a futuristic and secure payment collection process.
 

Responsive Web Design
 

A top payment gateway in India has adequate responsiveness to fit the screen sizes of the smartphones and tablets on which it is used. Hence, your customers can effortlessly make payments on the go as well
 

Multilingual Page
 

The professional and best eCommerce payment gateway offers you multilingual payment pages so that you can easily collect payments in localized and regional languages. Your business prospers better through the localized effect. The compatibility extends to tablets, laptops and smartphones as well.
 

Turbo Checkout
 

Turbo checkout is a one-tap payment collection process. The most modern and sophisticated of payment gateways like the EBS gateway, have this feature. Your customers do not have to input the same information again and again. The business-friendly feature provides for better customer generation rates.
 

Advanced Analytics
 

The professional payment gateways also provide you with reports and analytics, which can be used for measuring the business performance and for improving it.
 

Stable and Highly Secure Transactions
 

Apart from PCI: DSS compliance and ISO certification, the secure payment gateways use a range of advanced measures and possess the required compliances for having secure networks, accounts, applications and transmission channels.

How to Make Mobile Payments Pleasing, Secure, and Effortless for Customers

With more than 204 million smartphone users in India (Statista), the mobile commerce potential of the Indian economy and the market is quite huge. Around 40% of Indian e-commerce is now being carried out on mobile devices. Hence, the positive and profit implications of mobile commerce for an online business are immense. An online merchant should also have a mobile and iOS payment gateway for collecting payments from the mobile customers. But a featureless and the inconvenient mobile payment gateway will do more harm than good and will cause loss of customers and revenue. There are many subtle ways through which your mobile payment gateway can improve your business growth.
 

Trust Establishment
 

An SSL certificate on your iOS payment gateway will show your customers that your mobile payment gateway is using the Secure Socket layer technology and is encrypting the financial data securely. The security seals and green locks help to establish trust and also add to the reputation of your online business.
 

Community Growth
 

If you add a simple Call-To-Action on your Apps, then your customers will be able to follow you on a number of online social media networking websites like Facebook and Twitter. This will provide your business both recognition and growth. You will also be able to build your brand community and will be able to have a loyal customer base and fan following.
 

Feedback
 

Feedbacks provide you insight on the performance of your business. You should always make it easy for your customers to provide you feedback through your business App. This will help you to know what your customers actually think about your business, and how effortless and convenient the online payment system is for them. You can use the information for improving the performance of your business.
 

Makes Mobile Payments Pleasant
 

A bad UX design and technical glitches in your payment gateway and business App are going to have a bad effect on your online business. You should do all that is required to make payment pleasing to your customers. Integrate the pop-up keyboard payment gateway in Android or iOS, so that the customers can easily input credit card information. Also, provide for one-tap payment process so that the customers can get relief from inputting information again and again. The new payment gateways (like the EBS payment gateway) connect the mobile numbers and email of the customers. The feature provides for a fast and expeditious payment, and the repeat customers can make payments without inputting any kind of information physically again.

A Few Criteria To Consider While Choosing An Online Payment Gateway

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.