Choosing The Right Payment Gateway for Your Business

Stepping into the world of ecommerce can be an exciting yet daunting time for your business. One of the first big questions you’ll ask yourself is: ‘How do I accept payments from my customers?’

First, you will need a payment gateway. Choosing the right gateway can mean the difference between happy returning customers and customers that take one look at your check-out page and leave. A poorly implemented gateway can easily deter people from completing their transaction.

For now, let’s take it back a few steps. What is a payment gateway; how secure are they; and why do you need one? All these questions and more will be answered in this blog post.

What is a Payment Gateway?
A payment gateway is an application that authorises payments and processes them securely between your company and your merchant account – just like a physical card terminal in a shop. It allows you to automatically process credit and debit cards or other forms of payment easily and securely.

The gateway sits between your website and your bank and processes all major credit and debit cards as well as delivering numerous alternative payment methods in multiple currencies. This allows you to choose from a variety of payment methods (such as Visa, MasterCard and Paypal)  that you want to accept from your customers.

How Secure are Payment Gateways?
Data protection and security is crucial for both you and your customers. A core function of an online payment gateway is to safely encrypt and decrypt data that is processed. This ensures the data cannot be read by anyone else.

Why Should I Consider a Payment Gateway?
If you are thinking of taking your business online, a payment gateway is essential.

Here are some of the benefits of using one:

  • Convenience – a payment gateway means your business can be selling 24/7, 365 days a year with minimal effort from you or your staff
  • Security – online payment gateways are a safe and secure method of processing card transactions
  • Alternative payment methods – payment gateways can offer multiple payment channels from debit and credit cards to PayPal and iDeal to name but a few
  • Multiple currencies – you can give customers the option of paying in their own currency, maximising global ecommerce opportunities

Choosing the right gateway can be a challenging task. The most important thing to remember is to choose a gateway that is suitable for your business and one that can cater for your payment needs now and in the future.

For more information on how you can set up your payment gateway today call us on 0333 240 6000 for one of our payment specialists to discuss how we can provide the best payment solution for your business.