All You Need to Know about a Payment Gateway

by Pay Tabs PayTabs

When it comes to a payment gateway, there are many things you need to pay attention to before you come to a conclusion on which is the best one for you. A gateway is basically an application that permits a store to request payments from customers in a secure and successful manner. So how can you know which platform is competent and safe enough to use? Here is what you need to know.

A few requirements

The gateway you go in for needs to offer you these elements. This includes the ability to confirm every piece of the billing information of the customer. It also needs to give a green signal to requests. This ensures your store can issue a confirmation number. Other than this, it also authenticates funds for every payment method of the customer. Above all, it has to make certain that you are paid. You also have to know whether you are going in for a hosted or integrated payment gateway.

Hosted payment gateway

A hosted payment gateway redirects your customers to the platform of the payment processor. This is done so that payment information can be put in. One of the biggest advantages involves the fact that the offsite provider is responsible for all PCI compliance as well as data security. This takes off the pressure of you worrying about it. You, however, first need to make sure how your audience feels about a hosted gateway prior to going in for one.

Integrated payment gateway

An integrated gateway connects to your eCommerce website through the help of the gateway’s API. With this kind of gateway, customers never have to fret and fume because they never have to leave the store to input payment information as well as submit orders. This makes it a seamless and smooth experience. However, if you choose this gateway, you have to integrate with the gateway you pick.

Take into account the pricing factor

Another thing you need to pay attention to when going in for a payment gateway is the pricing factor. This helps you narrow down your options in a wise manner. Usually speaking, every gateway charges fees for each transaction or on a monthly charge basis. The gateway you pick may go in for one or both. Besides this, they may even scale their fees according to how much you use them.

Also, look for automatic billing support if you deal with recurring payments. Try also to understand how each gateway is going to appear in your store. Above all, try to understand what kind of experience it is going to offer your customers. See how it is going to set up as well and how much you need to be involved in this process. So there you go. These are some of the things you need to pay attention to before you choose the best gateway for you. Pay attention to these elements and you are sure to end up with a payment gateway that suits your needs and wants in all the right ways.