The best payment gateway makes processing online payments simple and easy for customers to purchase your products. Customers drop and failed transactions are the many reasons why business owners have been meticulous in getting a payment gateway.

Let’s explore the 5 best payment gateway criteria for your ecommerce business.

 

1. Ease of Setup and Integration Process

First thing to consider when choosing the right payment gateway provider is the ease of setup and use. You don’t want to spend valuable time and resources setting up and learning how to DIY the complicated technology. It should be easy to use a format that integrates seamlessly with your webstore and the shopping cart. Check the compatibility because you don’t want to deal with glitches or system crashes. In addition, the ideal solution is to select a payment gateway system that does not disrupt your webstore’s UX with a slow payment process.

There are a variety of payment gateway providers that offer a wide selection of solutions and integrations. Go for a payment gateway that makes it easy and beneficial for your customers to effortlessly make payments and they can select their favorite preferred payment methods.

 

2. Types of Payments Accepted

There are a number of payment types that are standard and that providers process. The traditional credit card or debit card schemes purchases are still the most dominant, however other options are now becoming popular. The rise of digital mobile wallets has changed how customers pay through mobile and payment gateways are adding support for all major digital wallets. According to research, online payments such as eWallet are the most preferred payment option in Asia. These e-Wallets only requires the entry of password to complete transaction rather than the entry of card details.

It is recommended that you offer such payment methods because you need to cater for customer’s preferred way to pay. Below are some of the e-Wallets players in the market:

Country

e-Wallets

Malaysia

Boost, GrabPay, MCash, TnG eWallet, MAE by Maybank2u

Indonesia

Doku, LinkAja, OVO

Philippines

GCash, GrabPay

Thailand

AliPay, Rabbit LinePay, TrueMoney Wallet

China & Middle East

AliPay

If you select the accurate payment methods for your webstore, it will increase the longevity, customer’s trust and durability of your business. This could determine that your e-commerce business could go a long way!

 

3. Payment Security and Protection

Imagine yourself in your customer’s shoes, what is the most important thing that will come to your mind? Payment security of course! As more people are buying things online, it is vital for business owners to offer customers an experience with utmost safety and security while shopping online. That being said, online fraud is another growing problem that all e-Commerce businesses suffer from. Fraudulent activity can be costly and damage the reputation of your business.

So, look for a PCI-DSS certified payment gateway that offers anti-fraud protection and provides maximum security that can save your business money in the long run. As a matter of fact, eGHL is PCI DSS Level 1 Certified. Rest assured, we can process all card data safely. Also, get a payment provider that tokenizes sensitive data; a technology that masks sensitive information including credit card numbers and replaces it with a custom token which is non-descriptive.

 

4. Merchant Dashboard, Reporting & Analytics

What will you do if you do not know how your customers are making the purchase? With the help of payment gateways, it offers business owners a detailed information of how their customers are purchasing from their website which enables businesses to identify potential improvements if needed. So business owners will have better idea and analysis of potential customers, geographies and payment methods.

You are in the business to get paid, so it makes sense to make it as easy as possible to see all of the transactions. As eGHL merchant partners, the Merchant Admin Portal app makes it easy to view insights of all sales through Dashboard Analytics on smartphones. The best part? With this app, you can even monitor and view a quick summary of total transactions on the go.

 

5. Customer Service & Support

It is crucial to always look at the type of support that is being offered. If the provider limits their support to tickets or email, check whether they are responsive at least within standard working hours, so that you can quickly resolve any technical problems. At eGHL, our support team works around the clock to help you deal with any issues as simple as refunds or as big as integration. Plus, we are always ready to assist both our merchants and their customers. 

For business owners handling e-commerce websites, customer’s experience and satisfaction are important. So make sure they feel secure to the payment experience by choosing the right payment gateway.

 

Conclusion

It’s tempting to get the solution that costs the least, but that’s not always the ideal option. You wouldn’t want to drive customers away through an unpleasant payment experience. It may be tedious process but you should take time to do research to choose the right payment gateway that work best for your business. Reach out to sales.eghl@ghl.com to know more.