The e-Commerce platform makes use of several services and the payment gateway service is one of them. This feature is capable of accepting, declining and verifying credit cards and payments from users on behalf of the sellers/owners. Hence, in order to provide a secure and updated transaction process, payment gateways are really important. But, often, the merchants are not aware of how to choose the payment gateway for their businesses.
For entrepreneurs with new startups, selecting the correct online payment system is very crucial. So, if you are the owner of any eCommerce business, you should have the top 6 questions to ask from payment gateway specialists.
Questions and Answers Regarding Payment Process for eCommerce Business:
Before you check out the discussion regarding “How to choose payment gateway – 6 questions to ask”, decide what you are looking for. In case, you have unpleasant past experiences with payment methods on websites, try to know the reasons. Then select a payment gateway, which will not have those limitations.
Is your Payment Set Up Flexible?
While choosing the payment process for your eCommerce business, make sure it's flexible. So, you need to confirm whether your payment gateway is fulfilling specific business needs successfully. Also, check all of its aspects to know if the payment process can adapt to the coding for your firm.
Sometimes, a potential customer from some other country may want to avail your services. Hence, the payment gateway should be able to process different currencies from users across the globe.
2. What Kind of Services are Provided to Onboard Customers?
Not all gateways follow the same guidelines and provide equal facilities to the site owners or users. This is why you need to have some ideas about the services offered by various payment gateway integration tools.
There are various things involved while setting up a new merchant's account with the facility of payment gateway. Hence, eCommerce websites can take some considerable amount of time to become functional. So, if you want to choose a payment gateway, try to ask how many days it will take to implement fully.
3. Does it Offer Proper Customer Service for Users?
When you are dealing with transaction-related tools on your website, great customer support is always expected. Hence, you need to find a payment gateway process, which will also have features for the user’s interaction. Moreover, it will help you to keep an estimate of the transactions that were successfully placed through your website. Also, you will be able to know about customers who are dealing with failed transactions.
4. How Great is the Association of Payment Gateway with Banks?
The success of the payment gateway also depends on the relationship between banks and merchants. This also provides the option for migrating to another gateway, if it is necessary for businesses. So, while choosing a payment gateway for your business, ensure that it offers a great banking relationship.
You must also check whether your customers will be able to get timely refunds if the transaction fails. As this is a major concern for users, who utilize eCommerce websites for purchasing goods or services.
If you are planning a long-term success for your business, choose gateways that offer quick resolution with banks. This way, it will help you to retain your customers, even if they are unable to process payments somehow.
5. What Measures are Taken by Payment Portal for Fraud Management?
As the eCommerce websites deal with fraudulent incidents many times, it can be a major issue while selecting payment portals. However, you can select a gateway that uses advanced tools to block fraud-related activities. You must also see that the portal can keep the information regarding account details, credit, and debit card private and safe. Users can pick a payment gateway, where reporting of fraud practices is quite quick. Also, check whether it has a proper mechanism to track down illegal transaction by involving cyber investigating tools.
6. Does your Payment Portal Assist in Tax Compliance?
For eCommerce owners, knowing about worldwide tax codes is very essential to run their businesses. As there can be buyers from any geographic location. Hence, the customs taxes can vary accordingly. And when you are considering a payment gateway for your company, make sure it complies with different tax rules and regulations.
Avail Affordable Payment Portals for your eCommerce Website from Us at UAE Technician:
A reliable payment processing service means a lot for every eCommerce business. This is why you need to rethink your business’s objectives before choosing a payment portal. Somehow, if you are unable to decide which payment portal to pick up, our experts can help.
