As your online business grows, you need to carefully consider which payment gateways to offer to your audience
Whilst PayPal might be the best know payment gateway, it's far from the only one and nor is it the most cost-effective.
With notoriety comes cost!
In fact, PayPal is one of the more expensive solutions. However, they've worked very hard to make it be one of the most simple to integrate.
When you choose a payment gateway, from a seller perspective, you want to make sure you're well supported. Some providers can be notorious for either being difficult to get in touch with or too often taking the buyer's side if there's any dispute without enough fair investigation.
Here are the key factors we recommend you consider when choosing a Payment Gateway Provider:
- Z Transaction Fees by card type
- Z Transaction Fees percentage cut
- Z Transaction Fees fixed costs
- Z On-site or off-site functionality
- Z Cart Integration Simplicity
- Z Customer Support Quality
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Some gateways require the user to leave your site and visit theirs, perhaps even with an additional login (eg PayPal). Consider that these extra steps for a user may be difficult, they may have a popup blocker, they may not have their password handy.
There are many reasons for cart abandonment, but choosing the right payment provider can help significantly reduce that.
Please keep in mind that if you're taking card details, you want to avoid at all costs storing any card details on your site - instead, let the payment gateway provider take care of that. And of course, be sure to have SSL installed on your site to ensure the transaction is secured and the customer has no reason to doubt using your online shop.
