The evolution of eCommerce in the past decade has brought some commendable changes in the way we do online shopping. The market is not limited to shopping apps/websites. From entertainment to necessities, everything is available in the digital landscape. And for any company to be a part of it, it is essential to choose the best payment gateway. Yes, every successful online business runs most of its operations by collecting revenue through e-payment methods. Without a reliable gateway to receive money, how would a business flourish?
But how to identify which service provider will strive for competent facilities? Yes, the expansion of the eCommerce businesses and platforms has led to the establishment of numerous payment gateways. For a business to choose the best within its budget constraint, it is crucial to know the factors that influence the process. The best payment gateway, in every business’s definition, is the one that provides all the required facilities at a reasonable price. So, how can one discover that one service provider? Here are a few mistakes that one should avoid while making the decision.
It is vital to examine every factor of sale and facilities offered by payment gateways.
The Don’ts of Choosing The Best Payment Gateway
Budding merchants need to learn the tactics that seal the best deals when it comes to partnering with a service provider. Yes, it is unusual to run an online store without the best checkout counter! So, one needs to get to the point where the most reliable service provider is available to set an advanced payment gateway. Here are the actions one must avoid taking along the way.
Ignoring The Payment Flow
A smooth payment flow from customers to an online merchant goes through the passage created by the service provider. One must ensure that his payment gateway lays a simple and direct flow of payments. In some cases, merchants wind up getting delayed payments. By checking the payment flow, this problem is avoidable.
Not Verifying Security Prospects
Every service provider will claim to offer the best services. But which one of them is practical? One can find this out by verifying the technology the company uses to secure their online platform. Advanced and developing technologies do not catch bugs often and are easily fixable through updates.
Taking The Word of Sale
Believing the words of a service provider is like blind shopping! One needs to check the said company’s website, online presence, customer reviews and quality of services to make sure the claims are true.
Choosing Quantity Over Quality
Some online stores use the old-fashioned formula of buying as much as possible in a fixed amount. So, they focus on the number of facilities the payment gateway is offering. But what about the quality of service? For every merchant who wishes to sustain the market competition, it is essential to focus on quality!
Overlooking The Terms of Agreement
Purchasing without checking the terms of agreement laid by the service provider can cost high in future. Some firms do put clauses that will need the customer to administer his demands. For instance, a company can add an extra payment clause after a limited sale.
Focusing On One Platform Only
The integration process of a payment gateway for mobile applications is different from that of a website. One needs to focus on the operations of all the platforms to run a successful business. Focusing on the odds is important here! It is not worth losing even one customer who purchases from the platform that attracts a lesser crowd.
Settling For Common Features
A few service providers boast about the commonly available features to entice the customers. However, a merchant must be inquisitive to know about the advantages of these features and how they will benefit the nature of his business. Also, one should look out for the customisation option that will help him select the features best suited for his e-store. This way, he can filter the unnecessary payment gateway benefits that he will have to pay for!
Saying Yes To Complicated Integration
Customers need a simple and fast payment facility to enjoy online shopping! If the checkout counter keeps redirecting them to a new page, it will push them away. So, one must not agree to use complicated payment windows at a cheaper cost.
Compromising With Customer Support
24×7 customer support service is a must in this competitive market. The behaviour and responsiveness of the service department also play a crucial role. One must opt for a service provider that has a responsive customer care department to solve his queries and problems as they come!
When an online merchant ensures the reliability and security of all these factors, it becomes easier to find the best payment gateway. It is better to follow a well-focused screening process than making these silly mistakes. Set a payment process that attracts more customers instead of repelling them away!
