Business owners make every investment wisely, with the motive of earning maximum returns out of it. For online merchants, selecting the best Payment Gateway India is a type of principal investment. However, most budding entrepreneurs misunderstand the value of “returns” when it comes to buying a payment gateway. Getting the required features by the service providers at the cheapest cost is not making the value of the money. Your payment gateway must earn you passive returns by holding onto the customers who use it once. Yes, if the checkout experience of your customer doing online shopping is not up to the mark, you can lose business!
If you are setting up the online platform for your business with no prior experience of how it works, there are certain things you must know. You should follow a focused screening process to filter out the best option. With the emergence of international shopping trends and foreign currency transactions, there are a lot of factors to consider. So, how can you make the most out of a payment gateway in India? What features should you look for in the service plan?
Customers desire to experience a smooth payment method wherever they shop.
Making The Most of A Payment Gateway: Actions To Take
Get the best and most productive results out of the Payment Gateway India you choose for your online business. Just follow these tips and keep your analytical skills intact to make a wise decision.
Demand The Basic Features
Do not compromise with these basic features that most service providers offer in the base plan. There is a significance of each of these features. Choose the company that offers you all at a reasonable rate.
● Transaction Fee Structure
Check the transaction fee structure and whether or not it is aligned with the standard market price. You can compare the fees of different service providers keeping the features in mind.
● Smartphones Optimisation
The Payment Gateway India you choose must work well with mobile applications too. Some customers may knock on the mobile app door, and you do not want to lose them because of failed payments.
● Supported Card Transactions
The more card companies you have on your approval list, the better it is for your business. Try getting all the leading cards in the plan.
● Promoted Countries
If you want to sell your products in the international market, you need exposure in other countries too. Your payment gateway must accept foreign currencies and transactions for this purpose.
Verify The Success Rate
What is the payment success rate of the payment gateway you choose? If it is poor, your customers might lose their money with no fault of yours. One such incident can malign the image of your online business for a long time. Therefore, always compare the success rate of your selected service providers and choose the one with the highest percentage, even if it means paying extra.
Compare All Competitive Pricing Options
Price is what concerns a business owner first when speaking of Payment Gateway India. Although this must not be the only scale of comparison you use to make your decision, you should compare the market prices. If a company is offering all these services, additional security and customer support at a lower price than others, you can go for it!
Get PCI-DSS Compliant Security
The PCI-DSS compliance creates a secure space for customers to secure their payment data in their shopping account. So, when a customer enters a card number to make a payment, this security system will store its data to save time and effort in the future. Customers can select the card for their next transaction, add CVV, get OTP and confirm the payment. You must go for this option if it suits the nature of your business.
Installation of Fraud Screening Tools
Technologies are developing rapidly over time, and we are never out of options when it comes to Payment Gateway India. Some companies integrate and install fraud screening tools to avoid any false payments. These tools are beneficial for the customers. Also, you get the window to avoid controversies and trouble.
User-Friendly Payment Window
The payment window must always be simple, user-friendly and fast for customers to enjoy their online shopping experience. If your website keeps a complex payment process, most customers may not return to it as there is no lack of options in the market. You can beat your competitors only by holding onto every customer that visits your e-store. Therefore, make sure the checkout point integration is up to the mark.
Once you try to find a Payment Gateway India keeping all these suggestions in mind, it will make your investment worth it all. Do not try to rush into decisions or make any hasty move that might not benefit you in the long run. Also, do complete online research before investing in a payment gateway!