Understanding payment gateways before you go ahead

Now, if you want to choose a payment gateway, it’s important to understand the different options that are out there. Even though there are many companies offering online businesses a way to sell and deliver their products, not every payment gateway is reliable and suitable enough to partner up with your company. But there are services that should be taken into consideration when choosing a payment service for your business.

A Payment Gateway is built to connect to your merchant account. Everything about your payment gateway should be secure and it must be capable of delivering data information to the bank. Most people don’t understand thatPayment Gateways offer more than just a way to take money. There are important features that are vital to your business and you should make sure that your payment services are able to deliver these options.Every online-based business is required to select payment gateways that understand their security requirements to be able to process credit cards securely through the Internet.

Fraud Protection

Chargebacks are one of the things that online stores deal with on a daily basis. One of the issues behind chargebacks is Fraud Protectionfraud. Continuous fraud can put your business under if not taken control of. Fraud prevention is a tool that your payment gateway should offer, and you should definitely take advantage of it.

Recurring Billing

The recurring billing feature is not only a time saver but it just helps you run your business in a sufficient manner. When you have subscriptions that need to be paid on a time basis, having a feature that allows you to do with just the insertion of your customers information, makes running a business much less difficult.

Virtual Terminal

Most payment gateways are capable of allowing you to run a virtual terminal, which means that you have the ability to take an order right over the phone. This feature is a tool that can save your customers and bring in more revenue.

Processing eChecks

Online web stores are still unfamiliar with the eCheck processing. But most payment gateways offer this form of payment. The idea behind running a web store is to make it easier for your customers. Which means that offering every form of payment possible is a definite plus when trying to grab a sale.

Having the right payment gateway that offer the right features will not only help your business grow but bring longevity to your success.

Ps : Image credit goes to : secure.americanexpress.com.bh/wps/portal/uae/AboutUs/FraudProtectionCentre

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s