A payment gateway is the ultimate step of the sales process on an online business portal. It is the merchant assistance given by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or conventional brick and mortar.
The payment gateway may be provided by a bank to its customers but can be rendered by a specialized financial service provider as a separate service, such as a payment service provider. There are various factors affecting a person’s choice while choosing an online transaction gateway. The ones that really matter are listed below.
Safety comes first
While selecting your online transaction gateway, the first and foremost feature you should look for is security from fraud. Especially, when it comes to financial transactions, safety should be guaranteed by your payment gateway.
Essential features related to the payment gateways are — ensured genuineness and effective fraud prevention. Jeopardizing the security leads to tragedies that one can not control. No user likes to put his/her money on stake.
It is quite evident that each payment gateway differs from the other in terms of speed. However, people tend to trust the transaction gateways that offer quick transfers.
Hindrances during payments will definitely throw the users off. Where money and sensitive bank information is involved, one tends to expect the transaction to be speedy and neat.
How can one ignore the important aspect of convenience? An excellent online transaction gateway offers 24/7 customer service. We can’t expect a system to be all perfect. A few infrequent glitches can be ignored. But what matters the most in situations like these is how your online transaction gateway reaches out to help.
Satisfying all of the aforementioned requirements, platforms like InstaReM manages to stand true to its point. Get along with this Instarem review when it comes to being assured before taking the plunge.
In this era, people move with the world on their fingertips. Mobile phones have definitely won the race of technology. Seldom do we need a computer to carry out transactions these days. With frequent advancements, our smartphone never fails to amaze us. All that we will ever need is made available to us on the internet.
One doesn’t have to actually go to the market to get something as it’s all readily available online. Similarly, most online transaction gateways come in an app format that can be downloaded and used on our phone. This is a more flexible and handy way of using payment gateways.
Costs of using
Some online payment gateways require users to pay a certain fee for every transaction. Whereas some are generous enough to keep their services open for everyone without any charges.
It goes without saying that most of the customers will go for the gateway that doesn’t cost them anything. However, if a payment gateway charges a monthly fee, it can be assumed that it will have more to offer than what a free transaction gateway will.