4 Important Factors to Compare Payment Gateway Provider
Compare Payment Gateway Provider – A payment gateway allows the card-not-present payment, which gives convenience to both the customers and merchants. This makes the transaction easier and faster. In order to expand the business, the merchant should add the payment gateway provider as one of the payment options. The market is full of Payment Gateway providers that offer different schemes. But the question is which payment gateway to choose from the available options.
You can follow this article to compare the Payment Gateway provider in the market. For more information, you can contact Merchant Stronghold for the assistance. Also, we can help you choose and compare Payment Gateway Provider.
Factor 1 – Fees and Additional Fees for the Services
The transaction processing fees and other fees for the services can affect your profit. As a merchant, you should compare the payment processing fees of the services and then get the one that is required. Here are the different fees or charges that a payment gateway service provider can ask.
- Monthly fees
- Setup fees
- Termination Fees
- IRS (Internal Revenue Service) fees
- Batch fees
- Annual fees
- Contract Fees
- Customer service fees
- PCI (Payment Card Industry) compliance fees
- Statement fees
These are the list of fees that a payment gateway provider can ask. There could be more than what are available in the list above.
Factor 2 – Security and Customer Service
When you are Comparing Payment Gateway Provider, you must check the security and customer services provided by the different service providers.
- A security breach can affect not only the merchant but also the customer’s money.
- Make sure you read the terms and conditions of the company.
- You must check the kind of security they provide.
- Moreover, check the support provided by the gateway service provider in case of fraud and chargeback.
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Factor 3 – Allowed Card and Payment Types
Types of cards and payment types should be allowed while accepting the payment to help the merchants to compare Payment Gateway provider. Here is the list of popular Card Service Providers:
- VISA
- MasterCard
- American Express
- Discover
- JCB
- Diner
You must choose the card acceptance according to your customers. Also, compare Payment Gateway provider depending on the majority of card payments you get.
Factor 4 – User-Friendly or Customer Friendly
The Payment Gateway should be interactive and easy to use for the customers. That means the customers with or without technical knowledge should be able to use the Payment Services with ease.
- Check whether the services are available on the mobile phones or not.
- As most users now make their transaction using the mobile phones.
- Moreover, their response and the waiting time for each payment should also be taken into consideration.
Questions that you can Ask while comparing Payment Service Providers – Merchant Stronghold
- Which is the best payment gateway for your business?
- How to add your website with payment gateway
- What is payment processor fees in the current market?
- Which is the best payment gateway for micropayments?
- What is payment gateway charges in the USA?
- Which is the best payment gateway API?
- What is the best payment gateway for Bigcommerce?
- Payment gateway providers list
- Which is the best payment gateway for small business?
- The best online payment processor for your business?
- What are available online payment gateways?
- Which is the best payment gateway for international transactions?
- Credit card processing comparison chart
You can use this guide to compare payment gateway provider.If you are looking for more details then feel free to contact Merchant Stronghold for the assistance. We will help you evaluate the demand and suggest you the best services that are available for you. Furthermore, we provide assistance with high-risk payment gateway, credit card processing, merchant processing services and many more. You can call us at the support number or access the 24/7 email support.
