You should also check whether there are any additional fees for accepting multi-currency payments or payments from other countries and whether you will need to have a merchant account in a specific country. Security is obviously a key concern when taking payments. You should also consider the fraud protection and screening tools offered.
Most payment gateways offer a number of tools to help you guard against fraud, such as filters to define who or where you receive payments from. These tools are particularly important if you will be accepting payments from people who you don't have an existing relationship with. Customer experience is one of those under-valued areas which can really hurt your business down the line and as such is worth taking seriously from the off.
You should look for a payment gateway which offers support when you need it and in a way you can get it. Questions you might want to ask are:. Does the provider only offer email support or do they offer a range of support? Payment gateways typically accept Visa and Mastercard, and many also accept American Express.
Many gateways now have this feature, but in almost all cases they also require your business to have an online merchant account. Once a payment has been made then your customer will be returned to your website and the order will be confirmed. Redirecting to another site reduces the risk around storing and transacting credit cards and helps you to meet PCI requirements.
Hosted solutions can also be more suitable for small-to-medium sized businesses that require a quick and cost-effective way to securely accept card payments online. However, it also means sending a prospective customer to another site at a critical point in the payment process. If this extra step makes your payment process longer or slower, or if the payment page looks significantly different to your site, customers may fail to complete their payment.
Using a non-hosted payment gateway, your customers will be able to enter their details without leaving your site. To take payments onsite you typically need an SSL certificate and to comply with certain legal and technical PCI requirements. This makes the payment process much simpler for your customers without imposing any more requirements on you.
Consider whether the payment gateway integrates with your current billing, shopping cart, and accounting solutions you are using. Ideally the payment gateway you choose will be integrated with software you already have. If not, you should still look for a service that is integrated with software providers, because it increases convenience and saves you time, as well as signals that the provider has an API that is easy to integrate against, saving you development time down the road.
If after asking all of these questions you still haven't found a payment gateway which meets your requirements, there are some other options you can consider. Our guide to recurring payments compares each of the main online payment options on costs, ease of access, international reach, timings, support, and more. GoCardless offers an easy-to-use recurring payments solution. Find out how we can help you with ad hoc payments or recurring payments. GoCardless is used by over 60, businesses around the world.
Learn more about how you can improve payment processing at your business today. Learn more Sign Up. The payments transformation allows for instant transactions. Contact sales. Skip to content Open site navigation sidebar. Why GoCardless? With so many payment gateways available, how do you know which one is right for your business? Here are some important features and functionality a payment gateway should deliver to help optimize payments and provide a seamless processing experience.
As technology continues to evolve, so does the skillset of the average cybercriminal. You need an innovative fraud solution that delivers the cyber security intelligence your business demands to accept more good transactions and reduce fraud rates.
Payment card security is of the utmost importance to us. This frees you from storing sensitive data in your system and helps minimize PCI scope and liability. Recurring payments provide many benefits for both the merchant and the customer. By creating a payment schedule that works for both parties, payments automatically come in on time, every time. This increases cash flow and improves customer retention, while offering convenience and flexibility for your customers.
With our PCI-compliant payment scheduler, merchants and customers can set up a frequency via a hosted payment page, Application Programming Interface API , or virtual terminal. Integrating a payment gateway with the software you use to run your business is guaranteed to save you time, provide greater accuracy, and ease transaction reconciliation with centralized reporting. APIs allow two applications to talk to each other, while plugins allow you to modify your existing software platform.
We have the APIs and plugins you need for seamless integration. A hosted payment form is a secure way to accept eCommerce credit card payments without the need for a shopping cart. This virtual payment process occurs in seconds and is now one of the most common methods of accepting payments in the retail industry.
Virtual payment gateways work in tandem with payment processors, which transmit the data gathered by payment gateways between businesses and customers.
Payment gateways are typically protected by layers of encryption, ensuring that payments are legitimate before they ever reach the acquirer , which in many cases are banking institutions. This process verifies that personal customer data, like credit card details and addresses, are kept safe and protected from fraud. Yet not all payment gateway providers are created equal.
As we know, payment gateway solutions are far more complex than they may seem from the outside. These solutions can become even more complicated depending on what service you use and how you organize your virtual store. Typically, this option is best for large businesses with a high volume of daily purchases.
With a local gateway, a business owner is completely responsible for processing customer payments. This can be costly to implement and maintain, but gives you the most control over your payment system. Online payments systems like PayPal and Stripe are good examples of this kind of gateway.
When a customer makes a purchase, they are redirected to a payment form on a third-party server. In these cases, the payment system handles all of the payment processing, ensuring PCI compliance and an easy checkout for your customer.
On-site payment gateways are similar to off-site options, but this time, the customer completes the checkout on your website. The payment processing is completed on the back end, using a third party server that completes the payment. In this case, you have the benefit of keeping the checkout process local, without redirecting your customers to another website to make a purchase.
You still get the benefits of a secure payments system while controlling the checkout process for your buyers. All of these payment gateway types have a few things in common. Whether you decide to host your virtual payment terminal on your own server or use a third-party host, payment gateways are just a part of the payment processing operation. You select your item, type in your credit card details and authenticate your identity with your address, location or other information.
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