A Guide to Select the Best Online Payment Gateway

The payment gateway is a front-end technology that identifies payment cards (debit/credit) and sends the customer information to the merchants acquiring banks for processing. It is more like a mediator between buyer and seller.

If you’re running a startup or an established business, setting up the best online payment gateway is highly necessary to make more profits and savings in your business. There are thousands of payment gateway service providers out there and that’s the only reason many of the fresh entrepreneurs find it difficult to choose what’s best for them.

Well, don’t panic. Here are some important tips you need to follow while choosing for the right payment gateway:

Many payment gateways charge some transaction fee or there are a few who ask for zero transaction charges. You should choose a gateway which acquires minimum transaction and setup cost. You can also go for the one which does not involve any setup and transaction prices. Paying less money can directly help to increase conversion rates. Therefore, it is important to search for the suitable one which charges a reasonable fee.

Some of the payment gateways are just limited to India. In the 21st century, many of business is established at a global level and there is a requirement to make domestic as well as international transfers. While considering payment gateway, you need to figure out whether it can be used within various geographical location or not.

If you need to do trading within India, then you can choose a domestic one. But when it comes to international transmission, the better is to select the one which is having secure processing and supports multiple currencies.

Do not make any compromises on performance and functionality of the technology. All the options should be available in a very organized manner which is easy to operate. It should be convenient and secure. Your data should be completely confidential and do not be disclosed to any third party.

It should not be limited to just debit and credit cards. Obviously, you need to obtain a little higher system which involves E-wallet, UPI, Visa, Master Card, American Express, MPOs and much more to satisfy all your needs. It should accept both domestic and international cards.

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