In the domain of online businesses, it is important to choose the payment methods that ensure faster transactions, security of personal information, and the trust of their customers. A payment gateway is a merchant service that is used as a third-party for authorising online transactions. When you are ready to receive a payment through a payment gateway, it will verify customer’s billing information, send encrypted payment for processing, approve payment requests, issue a confirmation number, and complete the payment.
Here are the factors for selecting a payment gateway:
1. Check the Fees:
As a start-up business, if you are running on a low budget, you should look for a payment gateway in Botswana that does not demand huge sign-up fees. Also, ask about the transaction fees charged by the service provider. The fees generally vary according to the features included within a package.
2. Check the Security:
A payment gateway is used for making online transactions and it stores valuable information related to your customers. Therefore, this platform should have robust security features including fraud detection. This helps in proactively identifying the suspicious activities in the payment process. Another important aspect of the payment gateway website is that it must be PCI DSS compliant for a required layer of security.
3. Check the Encryption Standards:
A payment gateway company is entrusted with the handling of sensitive payment data pertaining to your customers. Hence, you can’t afford to have even the slightest breach in this system. Check the encryption standards followed by the company. Prefer services that allow seamless integration with other platforms along with secure and automated payment acceptance.
Consider these factors for making the right selection and of course PayGate checks these requirements. To find out more or to get started enquire now.