Thread: Tips for choosing a Payment Gateway??

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1. Is it PCI-compliant? That means that the company’s security has been audited by a third party and found to be up to industry standards. Since payment gateways store all your customers’ credit card information (sparing you the stress), it also means you can sleep better at night, knowing your customers’ valuable information is safe and sound.
2. Good customer support
3.Lastly, it is important that the payment gateway you choose be integrated to the third-party solutions you are planning to use. That means things like store front platforms and shopping carts—you want them to be compatible with your gateway.
Payment gateways will not only allow you to collect the monies from your sales, many also offer an array of security features, some of which will help you avoid becoming a victim of fraudulent orders! In the end, they will make your ecommerce business a less-stressful, more pleasant experience—for both you and your customers.

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Hello Friends.....

Payment gateways are important in helping to reduce the rates of fraud online, makes payment online faster.

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3 Tips for choosing a payment gateway
1. Is it PCI-compliant? That means that the company’s security has been audited by a third party and found to be up to industry standards. Since payment gateways store all your customers’ credit card information (sparing you the stress), it also means you can sleep better at night, knowing your customers’ valuable information is safe and sound.
2. Good customer support.
3.Lastly, it is important that the payment gateway you choose be integrated to the third-party solutions you are planning to use. That means things like store front platforms and shopping carts—you want them to be compatible with your gateway.

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fees are also very important. A few penny difference could make you pay or save big bucks end of the year.

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The three types of payment gateway

What is a Payment Gateway?
Payment gateways allow eCommerce entrepreneurs, like eStore owners or eBay sellers, to accept credit card payments over the internet. They authorize the cardholder's credit - that is, they check to ensure that the customer has enough money on their credit card to cover the charges.

Getting Your Money from There to Here
Many people confuse merchant accounts with payment gateways, but they serve different functions in your payment solution. Merchant account services act, for the most part, as a liaison between your business bank account and the payment gateway. When a customer orders a product from your E-Biz, their card is processed via the payment gateway.
What Do I Look for in a Payment Gateway?
There are three key issues you need to consider when selecting a payment gateway for your online business:

• 2. Good customer support. 'Nuf said.
  
  3. Lastly, it is important that the payment gateway you choose be integrated to the third-party solutions you are planning to use. That means things like store front platforms and shopping carts - you want them to be compatible with your gateway.
  
  
  
  

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Hello Friends.....

A payment Gateway offers Merchant Batch Processing. At the end of every business day, the payment gateway gathers all the transactions that occurred on your site and then sends them all in one batch to your bank. The bank then collects payments from customers and deposits them in your account.

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Tip for choosing a payment gateway

If you decide to open an ecommerce store, you are going to have to become familiar with merchant accounts and payment gateways. In order for you to receive funds from an online transaction, you will need to have some sort of merchant account. Although your bank can probably provide one you should plan on paying dearly for it. If you do not want to do this you can check into the more popular ecommerce merchant accounts available online. With ecommerce becoming so popular, gaining a merchant account has never been easier.

Payment gateways act as a sort of go-between for the sellers shopping cart and the financial institutions involved in the transaction. Gateways are not visible to the shopper and handle the transaction between your customer?s financial institution and your merchant account. This is all done behind the scenes when the customer clicks "buy it now" or enters the checkout.

There are also third-party credit card processors such as Paypal. They do charge more per transaction but there is no monthly fee. This is best if you are just starting out in ecommerce and are unsure of how the payment process works. Almost everyone has a Paypal account. Once you are on your way to becoming an established business, you will want to check more thoroughly into merchant accounts and payment gateways to save money.

Thanks for these useful points. For me, I believe Paypal is the best in getting and transferring money to the clients.

Originally Posted by sarita

Thanks for these useful points. For me, I believe Paypal is the best in getting and transferring money to the clients.

Ya, I agree with you Sarita. Paypal is the best resource for transferring money online.