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3 Valuable Tips for Choosing Payment GatewayDecember 31st, 2016 by conepay conepay
A Payment gateway is an ecommerce application service provider that enable credit card payments for online businesses, e-retailers, bricks and clicks or traditional brick and mortar.
Product, Brand name, security shopping cart and payment and payment gateway is the basic of ecommerce business. It is considered as a bad customer experience if your website is unable to process payments online. Cash deposit can be an alternate but it is time consuming activity. Your customer has to travel all the way to his bank to transfer payments.
Here are 3 tips that will be helpful for you while choosing your payment gateway.
1. Low transaction Fee
As an online merchant it is extremely important to keep in mind that the transaction fee has to bear by the merchant not the buyer. That’s’ why it is very important for the merchant to choose the payment gateway the offers the lowest transaction fee. The transaction fee is deducted from the total amount
2. 24 Hours Waiting Period
When you use online payment gateway as a payment method make this as your process flow, credit card only reflect after 1 day, thus it is very important for merchant to hold for 24 hours if the customer makes payment because it is customers right to cancel the order within 24 hours.
Selecting a good payment gateway is extremely important. Keep in mind that your customer will process payment from different banks via credit and debit cards. It is extremely crucial that your payment gateway supports all the banks and work 24/7.Share it