How to accept bitcoin payments on WooCommerce10/07/2019 By StarkPayments
How to Guide: Choosing a Good Payment Gateway
Choosing a good payment gateway provider is not as straightforward as you think, especially if you are an ecommerce business owner. Your revenue, conversions and user satisfaction rely upon them. Whether you are a startup and finding it for the first time or you are the one who is not satisfied with current provider and want to change, you are at the right place.
Every online business owner has a question once in a lifetime: How to choose a payment gateway for my business? Let’s check it out.
There are so many ecommerce payment gateway solutions out there, so how to choose the best one?
Here are the characteristics of a good payment gateway provider:
- Transaction Charges and Costs
- Ease of Technical Integration
- Customer Support
Transaction Charges and Costs
The first and foremost question to ask is what are the charges of using the gateway? The user should definitely know in advance what are the cost and entire fee structure. Fees should be explained clearly and precisely that customer can easily understand.
There should be no hidden surprise elements when money is involved in such things. Ask the payment provider to list down all the cost and give an exact breakdown. It’s frustrating when you see a competitive price and after integration bill just scares you.
Also ask when you will get paid. Most preferably on a weekly basis. Some payment service providers payout every 30-45 days. After all cash flow is an important aspect for a successful business.
Regarding fees, ask the following:
- What is the set up fee – some payment gateway have a one off set up fee
- Is there any monthly management fees
- What are the payment gateway processing fees?
- What are the acquirers transaction fees?
- Fees relating to refunds and chargebacks
- Any other miscellaneous fees
The integration should be as easy as possible and hassle free. Most preferably anyone should be able to read the documentation, few clicks here and there and boom its done.
No matter how competitive the pricing of a payment gateway, if the technical integration takes time or your developers encounter multiple difficulties then this becomes counter productive.
Some of the questions around technical integration could include:
- Is there any documentation available?
- Do you have any pre-built API’s?
- Do you offer any pre-built ecommerce plugins?
- Do you offer integration services?
When processing payments over the Internet or any other digital medium, one of the most the important factors is security. One of the things you should ask any payment provider is “how secure is the payment gateway”. Any payment provider should meet the highest level of security, i.e. PCI Level 1.
That confirms that not just the technology of the stage is secure, yet in addition the whole association behind it with individuals are completely mindful of the risk factors concerning in regards to payments processing and are ready to act fast and set up to keep unfortunate behavior from happening.
It is not just about the safety of your merchant account but also about the safety of your clients and their financial information and ultimately the trust you are building.
Imagine you or your customers run an ecommerce business and having some critical issue and when you try to reach to your ecommerce payment provider, all you got is an automated response to get back in 1-2 days for your queries. Frustrated?
That’s the major difference between a good vs bad payment gateway providers.
Here are questions to ask your payment gateway provider:
- Do you provide 24/7 support?
- Is the support free?
- How quickly will I get a response to my support enquiry?
What Stark Payment provides their clients?
Being one of the World’s leading, independent payment gateways, we are always innovating and implementing some of the latest technologies as well as adhering to highest level of the industry security standards. Our R&D teams are a group of busy bodies that are looking to change the Internet payments industry.
Stark Payments help you to integrate the gateway and reduce all the hectic procedure on themselves. Just focus on your business and Stark Payments will take care of all the complex part.
Stark Payments technology is fully PCI DSS Level 1 compliant and secure all your data and provide you a affordable white label payment processing services.
We firmly believe that we’re only as successful as our developer partners are, and so to ensure to the success of this relationship we provide industry leading advice and run regular workshops, talks and regular face-to-face meetings.
Have any questions?
Contact us using the form below and a member of our team will be happy to help.