If you are in the process of setting up an eCommerce store or a new start up website, it is quite evident that you will need a payment gateway sooner or later. The simple utilization of a payment gateway is to channelize the money from your client to your bank account. Rather than putting up a payment gateway on your website and getting saddled with huge number of security problems it is better to go in for payment gateway service provider. However, you will need to look at a few tips to make the right selection
Self-hosted platforms
There are a number of plugins and extensions available to help you integrate with major payment gateways. Choose the payment gateway like authorize.net that already has a plugin for your self-hosted platform. But getting the customers to fill in their credit card details and personal information on your site has security issues. Redirecting customers to a hosted payment page is a much better option.
All-in-one merchant account
Some payment providers offer you just a payment gateway and require you to have your own merchant account. This is a new special bank account where the money from your payment gateway vendor flows in. However, you can select certain established payment providers who offer a combined payment gateway and merchant account, which means that you are utilizing their merchant account. This is an easier option as you have to pay fewer setup and monthly fees. However the transaction fees may be a bit higher but it suits the smaller merchants.
More than one gateway
Once your business grows, you can think of adding the payment gateways like www.paymentgatewayservices.com com to your website. This not only provides the convenience to your clients but also makes the clients feel comfortable about the authenticity of your website. Some payment gateways like PayPal are preferred by the clients as they do not require them to enter their credit card details for making the payment. Such payment gateways are an added advantage to woo the clients.
Contract
Some payment providers tend to lock you into one year or longer contracts. This may be a problem if you are not happy with their services later on. It is always advisable to go in for payment gateways that work on a monthly rolling contract. You must also make sure that the payment gateway supports the payment methodology of your targeted customer base.
With these tips you can easily select the payment gateway service provider.
https://en.wikipedia.org/wiki/Authorize.Net
Self-hosted platforms
There are a number of plugins and extensions available to help you integrate with major payment gateways. Choose the payment gateway like authorize.net that already has a plugin for your self-hosted platform. But getting the customers to fill in their credit card details and personal information on your site has security issues. Redirecting customers to a hosted payment page is a much better option.
All-in-one merchant account
Some payment providers offer you just a payment gateway and require you to have your own merchant account. This is a new special bank account where the money from your payment gateway vendor flows in. However, you can select certain established payment providers who offer a combined payment gateway and merchant account, which means that you are utilizing their merchant account. This is an easier option as you have to pay fewer setup and monthly fees. However the transaction fees may be a bit higher but it suits the smaller merchants.
More than one gateway
Once your business grows, you can think of adding the payment gateways like www.paymentgatewayservices.com com to your website. This not only provides the convenience to your clients but also makes the clients feel comfortable about the authenticity of your website. Some payment gateways like PayPal are preferred by the clients as they do not require them to enter their credit card details for making the payment. Such payment gateways are an added advantage to woo the clients.
Contract
Some payment providers tend to lock you into one year or longer contracts. This may be a problem if you are not happy with their services later on. It is always advisable to go in for payment gateways that work on a monthly rolling contract. You must also make sure that the payment gateway supports the payment methodology of your targeted customer base.
With these tips you can easily select the payment gateway service provider.
https://en.wikipedia.org/wiki/Authorize.Net