How to choose the right payment gateway

Thanks to modern technology, the business has virtually no boundaries. Even a small business can grow and become global, but to achieve this, at the very least, it must have a website with the ability to accept online payments. As for the site, e-commerce platforms are particularly useful here. They make it possible to assemble an online store on your own, even if you are not an IT specialist. Payment service providers that develop solutions for receiving and processing payments will facilitate online payments on the site.

To set up a convenient payment acceptance, it is important to choose the right payment gateway integration. However, first, let's determine what it is and how online payment providers operate.

How does a payment system integration work?

The first step is to pay attention to the features. For the analysis should be taken into consideration such details:

• Network security. The number one priority for those seeking a payment gateway is security. For most of the customers, it's rather important to be confident. All the given financials must be accurate and secure. Customer loyalty is expressed in this way. The use of credit cards online must be protected.
• Customer experience. The main feature of the payment process is a smooth flow. For customers, it must be convenient. If there are too many steps and it's too complicated, the customer can move to another place.
• Fees. On the payment gateway, the fee structure will be different. It must fit the budget and be reliable.

The most popular payment gateways

If you decide to create your online store, then among the other tasks set before you, to make your dream come true, there will be another one. You will need to choose which payment system will be most convenient for buyers so that it is easy for them to pay for the selected product of payment gateway development company. And this system should also suit you personally so that you can accept payments on the website of your store.

What are a payment gateway and a payment system?

The number of payment systems and payment gateway integration services is now very large, making it difficult to choose one of them. Some people get confused about the difference between a payment gateway and a payment system. Let's figure out what each of them means:

• A payment gateway is a group of programs that facilitates the connection between payment systems and your online store's website.
• The payment system, however, is a way of transferring money from the buyer to the seller.
• Among the most popular payment systems, registered today are WebMoney, QIWI, VISA, Yandex. Money and many others.

Why is choosing a payment gateway so important?

The correct choice of a payment gateway is the key to the successful development of your Internet resource. After all, the seller needs to ensure the safety of information and personal data that the buyer transfers to them when making a payment. The buyer, in turn, will appreciate the speed of the payment and the high level of security during data transmission. This will give him an incentive to make another purchase in your store.

Now, a huge number of companies offer their services for connecting gateways. Today, all of them have the opportunity to process payments from a bank card of any financial organization.
What should be considered when transferring and accepting funds on the Internet?

Pay close attention to the interest that the payment system deducts when transferring a payment. If the percentage exceeds 8, then such a system is not profitable, and using it will result in a significant loss of money. Choose systems in which the percentage is less than 5.

When choosing a payment system, don't hesitate to contact the site's support and inquire about all the details that interest you.

And remember that a high-quality system provides a wide range of services without charging sky-high interest rates to its customers.

Benefits of online payments for ordinary consumers

• There is no need to stand in huge lines and earn yourself another headache.
• You have the opportunity to pay for housing and communal services, cellular communications, and the Internet, without commissions and instantly.
• Registration in the payment system will not take you much time, and you will appreciate its convenience immediately after the first use.

Any information herein is not intended nor does it constitute financial, tax, legal, investment, or other advice