Payment gateway comparison has to be done to identify the best service to the business. Online businesses cannot do without the gateways. These ensure that a business is in a position to carry out activities surrounding the acceptance of payments through the use of cards. The gateway takes over from the shopping cart and handles or relays transactional information to and from the payment processors. The importance of a gateway can only be realized if it is able to work seamlessly.
The online payments segment is now flooded with numerous players all of whom provide one service or another. The payment gateways are just part of the multiplicity of services provided. Having said this, the process of identifying the most suitable gateway might not be as straightforward. Comparison should be done based on strong factors identified from the short term and long term needs of the business as well as industry standards.
To build a good platform on which to do the payment gateway comparison, the needs of the business have to be outlined. It is against this list that any gateway will be assessed point for point. The list forms the threshold for which every single feature of the gateway will be checked.
First on the payment gateway comparison should be the reliability of the gateway. It must not disappoint and should offer dependability and up-time all the time. No compromise should be made here since downtime is best equated to lost business opportunities and therefore affecting the profitability of the business. Reliability is borne out of having a very good infrastructure which is the backbone of the gateway.
The security of the gateway is absolutely important. Aspects such as anti-fraud tools and the PCIDSS compliance are the most notable when we mention security. The service provider must place security under the direct vigilance and control of the business owner so that elements of fraud are detected and dealt with immediately. Transactions emanating from the business and from its clients or customers have to be secure. Failure to secure all card transactions carries dire consequences for the business. These are losses which can bring down a business and do not portend any good especially with its customers who will automatically run away and institute legal charges aimed at getting compensated.
Lastly, support is another of the major factors to be kept in mind when doing the payment gateway comparison. A business will want to have any arising issues or challenges getting sorted out without delay. Any sort of delay may mean lost business opportunities. Support ensures that any technical help being sought from the gateway provider is provided promptly and without charge.