Some gateways only support transactions or currency transactions in certain countries, limiting opportunities for e-commerce. Be sure to choose a gateway that supports the country and currency you want to do business with.
Global businesses in particular may want to consider using multiple gateways, allowing them to route transactions based on their geographic location. With a second gateway, you can also do A/B split testing to determine which gateway has a higher acceptance rate, which is relevant to your business.
What can businesses expect in terms of onboarding experience?
Not all gateways are created equal. When considering using a gateway, what you should ask is:
How quickly can they attract new customers? Ask them on average how many days it takes them to go live and what is involved in setting up a new business account.
What self-service tools do they offer, and what capabilities do these tools have? Great customer service is important, but the ability to self-service can be a huge advantage. Find out they give questions or get basic information to answer simple questions or get basic information.
Do they have a relationship with the right bank? Most businesses have an existing relationship with a bank and prefer to maintain it. If you want to switch gateways or expand your business to a new country at some point, you should determine if the gateway supports your current banking relationship.
What is the reputation of the supplier? How reliable is their service? What SLA do they offer?
If your payment gateway fails, it will not be able to process transactions and you may lose customers. You should have a clear understanding of your gateway's system reliability, SLA, and its equipment and readiness to resume payments as soon as possible.
What is their service fee? What additional fees do they charge? What are their terms of service and other contractual requirements?
Price is obviously a consideration in any business relationship balanced with quality of service. Cost is another important factor in choosing the right gateway. Different gateways will have different cost structures, including monthly fees, fixed costs per transaction, variable costs based on transaction amount, refunds, international payments, and currency conversions.
Whether you are considering one or more gateways, you should get quotes from multiple gateways to determine estimated gateway-based costs.
Can I switch suppliers smoothly?
How easy is it to switch to a different gateway if needs change? Possibly changing business needs, gateway policies, payment processing ecosystem, and even your customer preferences. If your gateway does not meet your business needs, can you switch providers without affecting your ability to charge and earn?
What are the integration options?
Any payment gateway chosen by the subscribing business needs to integrate with its checkout page and billing system. There are many technologies that support this integration. You should make sure that your favorite integration technology is one that the payment gateway you are considering can support.
How do payment gateways work with Recurly?
There are three popular options:
Recurly customer payment forms and sends payment information to its own server. Payment information is then sent to Recurly via our ApI. This is the easiest option for collecting payment information, but the hardest to meet pCI compliance requirements. This option is not the best option unless you are going to invest the time and resources to meet very strict pCI compliance standards.
Payment form redirection. This option allows you to obtain payment information by redirecting customers to a Recurly-hosted payment page. Although the page or form may not be fully customizable, this is a safer option.
The payment form on your website can send payment information directly to a secure internet payment gateway. With this option, your server doesn't actually receive any sensitive financial information as it is submitted directly to the payment gateway. Not only can you minimize pCI compliance requirements, but you can also control the checkout experience. Recurly provides this option via Recurly.js.By:Heidi