Factors to consider when selecting the best payment gateway

There are essential factors to consider when choosing the best payment gateway for your business.

What is a Payment Gateway?

Accepting payment is the key to the success of an e-commerce business. A payment gateway is a tool that reads and transfers payment information from a customer to a merchant’s bank account. The payment gateway captures the data, ensures funds are available, and gets the merchant paid. How to choose the right payment gateway for your business depends on several factors. Here are the top factors to help you select the proper payment getaway for your business.

Check the pricing

You should compare and explore the different payment gateway providers’ fees. It will help if you look for set-up, subscription, and transaction fees. When choosing a payment gateway, it is essential to work on your budget, and then you will get an idea of which provider will work best for your business.

Check the integration options

Before deciding on the payment gateway, ensure the integration is smooth and easy. A payment gateway never functions independently, so checking the integration option is essential. In addition, it should easily integrate with the e-commerce platform. If the integration doesn’t work, the payment process will be glitchy.

Check the security and compliance

As a merchant, your foremost responsibility is to provide a high level of security to your customers. Therefore, it would be best to look for PCI DSS(Payment Card Industry Data Security Standard); this is paramount for recurring payment enablement.

Check the payment methods

Before selecting the payment gateway, it should include all the most common debit and credit cards, such as Visa and MasterCard. Also, consider adding local payment methods and allowing your customers to pay with a digital wallet.

Conclusion

Do your research before selecting the best payment gateway for your business. Direct Pay Online accepts payments across Africa and allows customers to choose from credit and debit cards, mobile money, and another payment method.