As E-Commerce industry growing and the use of smart phone is on the rise, customers are increasingly looking for payment solutions that are safer, seamless and easier. A Payment gateway is considered an essential part of any ecommerce based website. As it acts as the final stage of the conversion funnels, its importance and role is extremely important. Whenever you want to setup an online store, there are few important questions to ask yourself before proceeding with your e commerce website. There are many online payment solutions are available but not all are appropriate for every website. It is advisable to invest some time in researching and understanding how different payment services works and which one best fit with your specific needs of the business.
First you should understand, there are two things involved payment gateways and Payment processors.
Payment gateways are combination of third party tools that are used by retailors to accept payments from online customers. This is a way to automatically transfer the payments from customers to retailors. Use of payment gateways offer many benefits for example PCI compliance that represent standardization with security standards,
Payment processors have the important role as intermediary for payment processing. These are mainly responsible for
(i)Managing relationship between enterprise and card charging companies.
(ii)Managing customer related data both private and financial
(iii)Successful transaction process by crediting debiting the customer accounts.
(iv)Transfer of funds.
It may be difficult to accurately choose between what’s right combination for your business. As a merchant and retailor who are selling the products online should consider following points
There are some payment gateways that will allow you to make direct payments into retailer’s website and transfer customer directly to other website for payments. As an online retailer it is entirely your responsibility to choose the payment gateway that offers best customer experience with seamless and smooth processing. There should be less sensation or disruption and customer should not be shuttled to other website for payment.
As you might have heard, nothing comes free and same fits with payment gateways as well. There is always an associated or upfront cost. Some of the payment processors may charge your customers additional fee that will be based on per transaction basis. In some cases clients are also charged with payment processing fee. You must always ask for these details.
When you are dealing with customer`s data, you need to be extra cautious about security. You should only choose payment processing companies or gateways that are PCI compliant and online payment websites are SSL certified with additional layer for encryption. If not your reputation will be at risk. Customers also only submit their information on the website they believe is safe.
It does not necessary that all the plugins of your choice will work perfectly with the compatibility to payment gateway. Therefore it is important that you make sure that there are no compatibility issues for the type of online payment gateway you choose for your ecommerce web design.
You must look whether your chosen payment gateway allows you to have brand Personalization. You should also esquire if it is mobile responsive and is it intuitive regarding layout of website, web page and number of steps? All of your choices should revolve around improving customer experience.
The choice can be confusing if you are not familiar with types and terms of services. Therefore it is always better to explore more and get your self-informed with almost every aspect of web design, customer experience and your business. If you feel you are comfortable with the terms and features offered by specific payment vendor then it’s time to move ahead.
At Whitehats Design, We always help our clients to make the right choice according to their specific business requirements. Whether you need online store, Ecommerce web design, corporate web design or mobile applications in Dubai, you provide top class web design services that are second to none.