A payment gateway refers to the merchant service provided by an online market service provider that reads direct or credit card payments for online businesses or retailers. The payment gateways can either be provided by a bank to its customers or through a payment service provider.

Powercash21 – Payment gateway services provider ensures that users or customers get a simple, secure, and effective experience that will lead to the success of their e-commerce businesses. Powercash21 offers access to European-licensed acquiring services, over 100 global payment methods in e-commerce, and top-notch security management to protect against fraud.

There are several forms of payment gateways in e-commerce, including:

  • Local bank integration
  • Hosted payment gateways
  • Pro/Self-hosted payment gateways
  • Non-hosted payment gateways
  • Direct payment gateways

Selecting a payment gateway service can be quite overwhelming, but this article is going to make it a walk in the park. Below are the major factors you should consider to help you choose the right gateway offering payment facilitation or payfac.

  1. Cost

Just like any other services, choosing the appropriate payment flow for your e-commerce platform should be a top priority. It’s essential to first understand the service provider’s fee structure before you sign up for one. Different gateways charge different fees for different transactions. Also, ensure that the payment gateway offers support for both on-time payments and recurring payments.

  1. Security

It’s important to choose a payment gateway that’s highly capable of protecting both you and your customer’s data, and at the same time, provide safe checkout experiences for your customers. Make sure the platform you’re considering provides a PCI-DSS certification like anti-fraud protection.

  1. Payment Methods

Making sure your e-commerce website has a payment gateway that incorporates different payment methods will improve your sales. Most online shoppers prefer buying from platforms that offer multiple payment methods.

  1. Website Integration

It’s important to consider how compatible the gateway you’ve chosen is with your website. If your gateway and website don’t incorporate smoothly, you’ll definitely lose customers. This is because everything becomes messy and customers end up with mismatched elements.

  1. Payment Locations

While some gateways allow shoppers to complete their transactions with the website’s checkout process, others lead shoppers to a third party site where they finish their transactions. Choose a gateway that will provide your shoppers with the best user experience.

  1. Merchant Account

A merchant account is used by e-commerce owners when shoppers make an online payment transaction. Some payment gateways don’t require, and they instead transfer money directly to the dealer’s account, and are therefore likely to charge a higher processing fee.

  1. The Gateway’s Design

An excellent gateway should allow for brand personalization. It should also be mobile-responsive and intuitive with regards to numbers, pages, and layouts.

  1. Parting Shot

To choose the correct payment gateway for your website, you need to familiarize with the terms and conditions of service, and also be quite comfortable doing business with the gateway service. Additionally, it’s important to note that not all payment gateways are going to be compatible with your choice of plugins.