5 Factors to Consider When Choosing a Payment Gateway for your eCommerce Website

The world now predominantly shops online and if you don’t have a suitable payment gateway you will be limiting your opportunity to grow the business if you don’t offer your customers the ability to complete a transaction swiftly and securely.

Making the right choice when it comes to choosing a payment gateway for your eCommerce website could prove to be a critical decision and here are some key pointers to consider so that you can get it right.

Enhancing the customer experience

Your top priority should always to be proactive in ensuring that every customer enjoys a seamless and uncomplicated experience at the point of checkout.

A significant number of shopping cart abandonments occur as a result of the customer being dissuaded by the payment processing function being too complicated and once they feel that it is too much hassle the odds of them returning to your site diminish too.

It is essential that you confirm that the payment gateway you are intending to use offers users a seamless experience that works perfectly for your customers as well as giving you what you want as well.

Be ready for a global market

One of the defining features of the internet is the fact that it offers you the chance to sell to customers around the globe and that means you don’t want to limit your selling opportunities because you don’t offer multi-currency transactions.

Currency exchange calculations and fluctuations in values can make it challenging to offer international transactions but if you find a payment gateway that offers this option they will be able to take care of the regulatory as well as the transactional aspects of this option.

Fees you are happy with

You expect to be charged payment fees but you will quickly discover that fees and other transaction charges can vary greatly depending on who you decide to use.

It would be a good idea to calculate your estimated revenue that you expect to generate annually from your eCommerce website so that you can get a realistic and accurate quote for payment fees.

Support when you need it

If you have a problem with your website going down you will want to be up and running as quickly as possible so that you don’t lose revenue and customers.

A good way of achieving this aim would be to choose a payment gateway provider who delivers around the clock customer support.

Security protocols

Online businesses have to contend with a variety of threats to their security on a regular basis and if your site is compromised it can be costly, not just in terms of lost revenue but reputationally as well

If a customer entrusts you with their personal data they expect you to take good care of it and you need a payment processing system that allows for a secure transaction each and every time.

Look for a payment gateway provider who takes online security as seriously as you do and has the technology to offer secure transactions.

If you can tick the boxes on all of these key points you will be well on the way to finding the right option for your eCommerce business.

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