7 Important Features Of A Good Payment Gateway For Your Growing Online Business

A good payment gateway must have the following features: several payment options

, fraud screening features, secured server, efficient customer support team, faster processing, free add-on features, and is user-friendly

A payment gateway is essential in any e-commerce business. It authorizes, settles, and reports credit card transactions made by the customers in purchasing your products or services. Consider the following important features when choosing for a payment gateway as it does not only maximize sales but also secure transactions:

Several payment options

A payment gateway with several payment options allows your business to cater to a wider scope of customers. This will give access to customers that have a variety of payment options such as credit cards, debit cards, electronic check and wallet. The more your product or service is accessible the more you can generate sales.

Fraud screening features

A good payment gateway offers a variety of fraud detection tools that minimize and screen fraudulent purchases. These fraud screening features will protect you from suspicious transactions and larger chargeback costs. Lesser chargeback cost means higher profit.

Secured server

Once a customer makes a purchase, personal information is stored in your payment gateway's server. Make sure that your payment gateway's server is secured enough to handle such confidential information. Also check the capacity of your server to handle a large scale business to enable a large scale growth.

Efficient customer support team

A good payment gateway should always have an efficient customer support team. This includes a 24-hour live and email technical support and customer assistance. The support team should provide an up time 24/7 service in any cases of server trouble.

Faster processing

A faster service will mean a time-saving transaction. A shorter settle time will allow you to have an advantage time factor. The faster the money is deposited to your account the better it is for you since you get back your capital right away. Always ask your payment gateway the amount of settle time.

Free add-on features

Add-on features include a shopping cart, recurring bill, quickbooks, and virtual terminals. Making these features free will not just save you a lot of money from paying individual fees but also makes the shopping experience secured and easier. The add-on features will also help you operate and monitor your business easily. Always verify that in choosing a payment gateway, the necessary add-on needed is provided for free.

User-friendly

Also make sure that your payment gateway is designed with the user-friendly interface. A payment gateway which can be easily monitored and can be easily browsed will make your tool operation easier. An easy management of accessing payment transaction will provide a lesser effort and easier job.

There are wide number of payment gateway services available. Know what you exactly need for your business and verify the credibility of the payment gateway provider. Make sure that all transaction is secured and your business is in good hands.

by: Jacob Schiffer

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