Payment gateways authorize users to use credit cards to make payments to online retailers, brick-and-mortar and traditional stores, and e-commerce.
The best payment gateway for small business protects the details of the credit card by encrypting sensitive information in it. This process ensures that personal information is passed securely between the customer and the merchant.
The payment gateway is part of the back office when a credit or debit card transaction takes place. By sending information securely between the website and the credit card network for processing, the transaction details are returned from the payment network to the website.
The payment gateway is the bridge between your product and the customer
Consider the following when choosing the right support gateway.
Network security. When looking for a payment gateway, a secure network should be your top priority.
When shopping from your store, your customers must be able to trust that their information remains secure. Look for PCI compliance, as this is important when accepting credit cards online.
In addition to a secure customer experience, the payment process should be smooth and convenient for your customers to make purchases and should look for a payment gateway that allows for the acceptance of major credit and debit cards, as well as integration with all major shopping carts.
The Internet is global and transnational, and your customers can come from any corner of the globe. Don't limit yourself to payment gateways that don't allow global payments.
Costs. The cost structure of each payment gateway will vary, so make sure it fits your budget and is not too high compared to other payment gateway products.
Related Hot Topic
Which payment processor ought I to employ?
PayPal. The most popular payment processor for e-commerce stores is PayPal. There are over 203 nations where it is recognized as a payment gateway. All well-known credit cards are supported, including Visa, Mastercard, American Express, Citibank, and more.
Why are payment gateway fees so expensive?
Depending on the kind of online payment methods the consumer uses, the payment gateway fees are calculated as a percentage of the total value of the online transaction. Compared to the conventional payment PoS, a payment processing gateway gives you a lot more flexibility and reach (point of sale).
Do Stripe transactions go directly to your bank account?
You can instantly transfer money to a connected account's debit card or bank account using Instant Payouts. Money normally appears in the associated bank account within 30 minutes of requesting Instant, which is available every day of the week, including weekends and holidays.