What should you look for in a payment gateway provider when building your website? Great question and here’s a fantastic list of items to consider when you investigate.
Here are some common features that payment gateways typically provide:
- Payment Acceptance: Payment gateways enable businesses to accept various payment methods, including credit cards, debit cards, digital wallets (e.g., Apple Pay, Google Pay), ACH transfers, and sometimes even alternative payment methods.
- Security: Payment gateways prioritize data security, typically offering features such as encryption, tokenization, and compliance with industry standards such as PCI DSS (Payment Card Industry Data Security Standard).
- Fraud Prevention: Many gateways provide tools and features to help businesses combat fraud, such as address verification, card code verification, and advanced fraud detection mechanisms.
- Recurring Billing: Payment gateways often support recurring billing for businesses that offer subscription-based services or need to bill customers on a regular basis.
- Reporting and Analytics: Gateways typically provide reporting and analytics tools to help merchants track and analyze their transaction data, sales volume, chargebacks, and other important metrics.
- Integration and Developer Support: Payment gateways offer APIs, SDKs, and developer tools to facilitate integration with e-commerce platforms, mobile apps, or point-of-sale systems. They may also provide documentation, sandbox environments, and developer support for smooth implementation.
- Payment Gateway APIs: APIs (Application Programming Interfaces) allow businesses to connect their systems or applications directly to the payment gateway, enabling customized payment flows, seamless checkout experiences, and deeper integration with their existing infrastructure.
- Customer Support: Payment gateways typically offer customer support channels to assist merchants with any technical issues, account inquiries, or general assistance they may require.
Remember, the specific features and capabilities of payment gateways may differ, so it’s best to refer to their official documentation or contact a local provider like The Payment Exchange to get their take on who would be best among the main providers. To get the most accurate and up-to-date information call The Payment Exchange at 877-635-8803 or email them at info@thepayx.com don’t forget to discuss your merchant account with them as well as see if your business qualifies for a free gateway setup.