Online payments have become a crucial part of our daily lives. Because we are paying online not only via debit or credit cards but many other modes like UPI, net banking, and eWallets as well.
Paying online is an essential feature that every eCommerce platform offers around the globe. And they can deliver this facility by integrating with a payment gateway.
If you are establishing an online business or selling products or services from your website. So, you will require a payment gateway provider to get payment services and accept payments from your customers.
What is a Payment Gateway?
A payment gateway refers to a payment service that processes verify and receives online payments or credit card processing based on merchant business structure.
It acts as a mediator that links your bank account to the platform where you want to transfer your funds. Moreover, it is a kind of software that permits you to perform an online transaction via different payment methods such as net banking, credit cards, debit cards, UPI, or many eWallets that are available these days.
The right payment processor is the key to an amazing checkout experience
The right payment processor is managing the cash flow in and out of your business. However, it is liable for not just managing the online payments but also providing the best user experience to your online customers.
Some of the main factors for shopping cart abandonment are directly related to the UX that users get from the payment gateways.
- 27% of customers quit a shopping cart when they found a complicated checkout process.
- 20% of customers do not trust the website in sharing their credit/debit card information.
- 7% of customers cannot find their desired payment method.
- 5% of credit cards are getting refused due to technical issues.
Thinking about all of these, maybe you're confused that how you prefer a global payment provider that will provide you with convenience, reduce risk, assure the security of your customers' financial details and receive online payments globally.
So, let us make it easier for you.
Points to Ponder before selecting the suitable Payment Gateway Provider
Let us explore some factors to select the best international payment provider.
Security. Security must be your top priority. So, ensure that the payment gateway should be integrated with 3D security and comply with the PCI DSS.
Customer Experience. Additional to security, customers are searching for a smooth and convenient purchasing experience. As most customers switch to online shopping, you must deliver them an experience that maintains everything of your online business. But if it needs too much time, effort, or personal details to purchase from your website, they may switch to somewhere else.
Domestic and global payment allowance. If you are operating your business in a global market. Ensure you are not limited to local sales. So, opt for the international payment providers.
Fees. Ensure your payment processor fits your business's budget.
Payout Time. It should be less time carrying to credit funds in your bank account. So, before integration, you will have to check payout time. Is it weekly or monthly?
Easy Integration. Before signing up ensure that the integration is easy or it can establish a customized payment solution for your platform easily.
Multi-currency. If you are dealing globally, then your payment gateway provider has to manage payments in numerous currencies, regions, platforms, and alternative payment solutions.
Thus, make a suitable choice for your online business that depends on quality measures and guidelines, and assures the available liable data.
Conclusion
As we have discussed. Getting connected with a reliable payment processor is crucial for online businesses. So, we suggest Instantcharge for the best payment services. Contact us to get in touch with the top leading global payment service providers.
Originally Published At: https://instantcharge.co/online-payment-gateway-providers.php
