With the year of innovation comes the year of selling better online. If you’re an online retailer, you’ll know how important it is for your customers to feel secure about paying you instantly. Online payment gateways are a solution that allows you to accept credit and debit payments through your website or eComerce store.
What is Payment Gateway?
Before you decide on the right payment gateway for your business, it’s important to understand how an online payment functions.
- When a customer makes a purchase on your website and enters their payment details, that information is sent to the payment gateway.
- The gateway then encrypts the information and sends it to a series of approved payment processors for authorization, where the payment is either accepted or declined.
- The gateway sends the transactions to the payment processors, and the money is transferred from the customer’s financial institute into your account!
How to choose the right payment gateway?
Before you decide on the best online solution for your business, answer these four questions:
- Is it reliable? Choose a gateway that’s always accessible, with backup systems in place.
- Is it safe? Look for a payment solution that has a trustworthy name, is PCI compliant and its systems have never been breached.
- Is it simple? Make sure your gateway is easy to integrate with available technical support.
- Is it flexible? Can your customers accept orders on your website, online marketplace, phone and in person through this solution?
Our first choice is Stripe and the second choice would be PayPal.