Setting up your e-commerce business can be quite a difficult task. It is very important for you to choose the right payment gateway for this task. A gateway partner is one who would be able to help you enable the entire payment process. There are a lot of payment gateway solutions that you could choose from such as Payment Asia and many more. Here are the most important factors to look for in a payment gateway before you make that leap.
Payment Integration Capabilities and Compatibility
Technology is evolving and new payment
methods may come up in the future. Choose a payment gateway solution provider
that is flexible and able to adapt to any changes that may arise. Customers
love to be able to choose and a good payment gateway solution provider such as Payment
Asia and its peers provide multiple options
of payments to the customer. Providing a personal checkout experience to the
chances increases the conversion rates at checkout. A payment gateway should be
compatible with other technologies which in turn help maximize their user
bases.
Security Features
One of the most important features
that any payment method should have is security. It is very common to have
fraudulent activities especially when customers make an online payment. Most
payment gateways solutions like Payment Asia are
able to identify suspicious activity before it gets into the payment process. A
secure payment gateway usually features a P2PE (point-to-point encryption) that
protects the data across a secure environment during each step of the transaction
and thwart any threats or breaches in the system.
Reporting Features
Once your business is set up and fully
running, you might want to review the transactions, chargebacks, or analyze any
extra charges that may have been incurred while using the gateway. Hence it is
important to find a gateway that provides you with thorough reporting features.
Each gateway has its own style and format for reporting and hence it is best to
try them out before settling for a particular gateway.
Pricing and the Provider Fees
Another important thing to look out
for the payment providers is the pricing structure, especially if your business
has a strict budget. Sometimes, the more you pay the better features you get.
While some may have zero setup costs, they may have a higher fee on the chargebacks.
Some others may offer a flat monthly fee. Although you may see attractive
looking discounts and offers advertised by some payment gateway, there is
almost always a catch to it. Be it Payment Asia or
any other payment gateway provider you choose, the key is to look for one that
offers a transparent fee structure so that you are not in for a shock
afterward.
Invoicing Capabilities
A payment gateway with built-in
invoicing capabilities would help you streamline your payment process and also
reduce your dependence on other platforms. This makes it a lot easier for you
to raise instant invoices for your customers.
As mentioned by Payment Asia’s Kenneth, the company helps merchants stay
compliant with demanding standards and is also able to integrate new payment
methods to meet customer demands. It is an important and central part of
e-commerce and hence it is important that you choose only the best for your
business.
