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8th December 2021

How to Pick the Best Payment Gateway For Your Online Website?

Launching an online business website involves taking a lot of big decisions and one of them is choosing the right payment gateway for your website. The right payment gateway ensures your website will be able to accept almost every kind of payment method, giving your customers the flexibility and freedom to pay however they want to. Plus, the right payment gateway also ensures that you never lose important customer and payment data during system transfers. 

A payment gateway is a huge investment because not only does it save you the effort and time from manually inputting customer data and information, but it significantly improves convenience, comfort, and feasibility. Plus, the more flexibility and freedom you offer with your payment methods, the more customers your business attracts and the bigger your customer base expands. 

One of the fastest ways to lose potential customers is by only offering a limited number of payment options.

And the last thing you need is to lose customers not because of an impressive product line or service, but because of restricted freedom. So how exactly do you choose the best payment gateway for your website?

Well, first thing’s first. Find a good internet connection that ensures fast speeds and reliable connectivity at all times for smooth and easy transactions. AT&T Internet brings the fastest available speeds to ensure 24/7 connectivity and stability for smooth business transactions. And if you want to save a few more bucks, sign up for AT&T bundles now and make the most of the opportunity! 

Picking the Right Payment Gateway For Your Website

One of the most crucial stages of a sales funnel is the final stage where the lead conversion takes place. At this stage, most visitors are wondering whether to purchase the items they have in their loaded cart or not. And this is exactly where the abandonment rate is quite high. Why? Because they can’t spot their preferred method of payment and thus, abandon their carts and leave the website within seconds. This eventually results in a loss for the business. 

So with several payment gateways available now, thanks to technology, picking the right one has become slightly challenging. Thus, it makes complete sense to research the features of each payment gateway before choosing one. Whether you want to incorporate card processing networks, mobile wallets, or cryptocurrency, you should select a payment gateway with the capabilities that match your needs.

Well, the best way to start would be by identifying your goals and how to achieve them via payment methods. You want to make sure you pick the most capable payment gateway out there that ensures a safe, secure, and flexible money transaction. So let’s take a look at what exactly makes a payment gateway ‘capable’ enough!

  • Security: security is an obvious concern for every customer who’s shopping online. It’s an important factor and one that every business should keep a check on. No customer would feel safe about entering and sharing confidential and private financial details with a website that hardly looks professional. 

Integrating famous and reliable payment methods on your website is the first step to earning the customer’s trust and making them feel comfortable enough to share their financial details for a safe and secure checkout. 

  • Compatibility: the next most important factor to consider is the compatibility of the payment gateway. The platform you’re running the website on should be compatible enough with the gateway integrated. It should be a scalable solution that can keep up with growth and business expansion in the long run. As long as the gateway communicates perfectly and smoothly with the platform, you’re in safe hands. 
  • Cost: payment gateways are not cheap to integrate since they’re third-party tools. And using them with a service means paying a hefty fee for your business. Always explore your options and do enough research on different gateways, compatibilities, costs, etc. before investing in one. Many payment gateways sneakily charge customers a hidden fee that becomes a problem with the business later on, so doing enough research will help you understand the hidden cost and logic behind the payment gateway. 

To End Things Off

Cost, security, and compatibility are the most important factors to consider before investing in a payment gateway and securing a payment plan. Make sure you pick a flexible option, free from hidden charges and compatible with most platforms to avoid technical mishaps in the future. PayPal and Amazon Payments are some of the most popular gateway providers of our time, making shopping as hassle-free as possible!

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