A reliable payment gateway is the backbone of any online business. It decides how smoothly a customer can complete the payment. Any unexpected experience or unsuitable online payment gateway can drive the potential customer away from purchasing the product or service.
What Is a Payment Gateway?
A payment gateway is a merchant service that allows online businesses to accept payments with credit/debit cards or other modes. It facilitates the transaction by transferring the information between the payment portal and the merchant’s bank, also known as the acquiring bank.
There are many options for payment gateways available to choose. These are mostly fintech companies and offering a range of services to their customers.
What Are the Qualities of a Great Payment Gateway?
Choosing the right checkout system is very crucial. When choosing which to onboard, merchants should consider several things. Some of the most important qualities to look for are are:
Ease of Integration
The process of integrating a payment gateway to the online business platform is crucial. A simple and easy setup process is always best as it makes the deployment fast and keeps the cost lower. While merchants can always reach out to credit card companies and deploy their payment systems, several providers offer an easy setup for every process.
Range of Services
The breadth of a payment gateway provider’s services is important. Different potential buyers prefer a different mode of online payment, and a desirable system should support all of them. Along with the usual credit/debit card options, the checkout system should support other desired local online payment methods as well that might vary from country to country.
Reach & Inclusion
Online businesses are not confined to any region anymore. As they are targeting a broad customer base that often spread across the borders, the need for a single gateway with service across the markets is crucial. It also requires them to support various local payment methods.
A payment gateway deals directly with money, so it is a no brainer that it should be highly reliable. Merchants should choose the online checkout system with proper security certificates. It ensures the trust of both the merchants and buyers.
No matter how reliable a payment gateway is, complications can always arise. Any downtime or pause in transactions will directly impact profits. Merchants should choose a gateway with solid customer support that keeps communication channels open in case of emergencies.
How Can Macropay Help?
Macropay provides an online payment gateway that can accelerate your sales, making the transaction process smooth and fast. Our checkout system provides the ability to settle in local currency, integrated fraud protection tools, and real-time account management system. It also makes the onboarding process fast and emphasizes making the entire process transparent.