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How to choose the best payment gateway service

How to choose the best payment gateway service

We recommend that you shop around. Analyzing calmly and thinking about your own issues are critical to your business.

When choosing a payment gateway service, you can consider the following:

New Gateways vs. Classic Gateways: One of the most popular new gateways today is paypal. To use paypal to collect money, merchants do not need to open a merchant account,credit card payment gateway, but only need a regular user account. While it saves time, it comes at a high cost. Compared with the classic gateway, it is much more cost-effective, and at the same time, it can reduce the risk of customers jumping to other platforms, and greatly improve the conversion rate of customers.

International payments: If you want to expand into the global market, you need to ensure the acceptability of the chosen payment gateway in the target market. Your customer offerings may come from all corners of the global economy, so being able to support international payments for businesses is essential. By choosing Cardpay, you will be able to provide your customers with global payment gateway services. This service is ideal for pCI compliant online platforms, software integrators, payment service providers (pSps) and software providers.

Fees: payment gateway service fees vary widely. The speed at which transactions are processed and the abundance of currency options are of course relatively expensive, but there are also options that are inexpensive and do not require installation. While the currency aspect is one of the important factors in choosing a payment gateway service, beware of falling into the low price trap. If you find a cheap payment gateway service provider, look for hidden fees.

Analysis report: According to your business scale and development needs, you may need to pay the gateway service provider to provide analysis reports such as transaction behavior, claims, refunds, and fees. Some service providers also offer free test accounts for merchants to refer to.

Security elements: When you choose a payment gateway service, you should also pay attention to whether it complies with the latest relevant security standards and up-to-date data encryption standards.