Payment Gateway Comparison: Top Four Considerations When Choosing

Payment Gateway Comparison: Top Four Considerations When Choosing

For many businesses, using a website with a payment gateway comparison is an excellent way to draw in more customers and to boost their sales.

When the business owner is creating their online storefront, however, there is a lot for them to consider.

They’re going to want to ensure they choose the right payment gateway for their business, which can be difficult because of the vast number of payment gateways available right now.

In North America and Europe, for example, there are more than 300 gateways offered.

#1 Compare the E-Commerce Platform With Payment Gateway Comparison

E-commerce platforms will often have a few payment gateways they prefer to work with. While they might be able to work with other ones, there are likely already available plug-ins for the gateways preferred by the e-commerce platform.

This makes it much easier for the business owner or website designer to get everything up and running. If the e-commerce website has a listing of gateways they prefer to work with, this can give the business owner a good start on finding the right one for their business.

shutterstock_322647182 (1)#2 Consider the Way in Which a Customer Makes a Payment

There are a few different ways for customers to actually make a payment. The most expensive option is to accept payments directly on the website and push them through the business’s server.

For many businesses, however, this is too cost prohibitive to do.

A redirection is another option that sends the customer to another website where they will be able to process their payment. This is often the most secure way to make a payment. The business owner also has the option of using a method where the payment is made on the website but processed through the gateway’s servers.

This is a popular option, but the business owner will want to understand their security risks when choosing this or other options.

#3 Consider the Types of Payments Accepted by the Gateway

It’s important for the business owner to consider what types of payments they want to accept and what their customers might prefer to pay with.

Many people are using PayPal or similar accounts as a more secure way to pay online and prefer to shop with businesses that offer this payment type.

Others will be fine using their credit card on the website as long as they know their payment is secure and they don’t have to worry about the theft of their personal information.

payment gateway comparison security #4 Consider the Reputation of the Payment Gateway

Like any other service, some gateways have a much better reputation than others. Some have existed for longer as well and have built up a following of business owners who prefer what they have to offer.

It’s essential to consider the reputation of the payment gateway so the business owner has confidence they’re choosing something that will work properly, will experience little to no downtime, and will be a secure way for them to accept payments from their customers.

The various payment gateways are going to have benefits and drawbacks a business owner will need to consider.

It’s essential for the business owner to consider the above points before they start searching for the right gateway for their needs.

Doing so will allow them to easily narrow their options and find the right one to use with their online storefront.