No matter what industries we are talking about, customers payment is the life hood of any business. These businesses need a payment gateway in order to make their payment processing more efficient.
A payment gateway is a service, which verifies and transfers sensitive information to the card processing network. Primarily, a payment gateway works between the merchant and client to complete the payment.
As per the market studies, we can understand the behaviour of the customers. They believe that cash has become a thing of the past. As a result, you prefer and seek for cashless payment solution.
Merchants having online payment modes become their first priority to make any purchase. This becomes feasible for a merchant with the help of the payment gateway. Payment gateway empowers the merchant to process and receives the payment from their customers.
But, is having a payment gateway only a solution? Does it not matters that it suits your business or not? Does it have all the features your business requires? Of course, it does. That is why you should know your business first and then ask your service provider whether they are providing those services or not?
Here are remarkable tips you should keep in your mind while choosing a payment gateway for your business:
What countries and currencies payment gateway support?
Some gateways support transaction processing in a few countries only. As a result, it limits your business reach and puts a barrier to your growth. Make sure while choosing for payment gateway, your service provider should support currencies worldwide.
Global businesses want a payment processor which let them receive and process their payouts from all around the world. Having an international payment gateway brings more sales and more profit for your business.
What can you expect in terms of the onboarding experience?
Every gateway has a different technology. There are a few points you should inquire about before opting for services from any provider:
- The time they take to onboard a new customer. Ask for the time frame; they will require doing your service live and setting up a merchant account for your business.
- Tools they provide and their capabilities Plugins and other devices that come with payment gateway enhance your business efficiency. That is why; you should check with the service provider what tools and service you will get through them.
- Their acquirer bank network working with only one bank may restrict you in many ways. You should check their relationship with banks. Having a vast connection with banks opens up the barrier for you to the global market.
Reputation and reliability of the service provider
If your payment gateway is outdated, it may lag in processing payment and can result in losing your customer. You should have explicit knowledge of your service provider’s reliability and reputation.
What is their service fee? Are there any other fees they charge?
Checking transaction fee is a crucial part of any service provider. It may impact your business negatively. So, before continuing with any service provider, check their costing first. Whether they are providing transparent pricing or not? Are there any hidden charges? Make these points clear with the service provider.
How smooth will it be for you to switch providers?
How easy is it to switch to a different gateway in the event of a change in requirements? Business requirements, gateway policies, the payment processing ecosystem, and even your customers’ preferences are all subject to change. Are you able to switch your providers without impacting your ability to bill and collect revenue if the gateway cannot keep us with your business needs?
What are the integration options?
Any payment gateway that a business chooses will need to be integrated with its checkout and billing systems. A variety of different technologies available that support this integration. You should make sure that the integration technology you prefer is one that the payment gateway you’re considering can support.
Does payment gateway support new payment modes?
The payment gateway industry is changing in a fastening-way. New payment methods are regularly coming with time. That is why; you should consider a payment gateway which supports all the payment option while choosing a payment service provider for you.
You should make sure that the payment gateway can accept via cards, mobile, ACH, eCheck, mobile payment, MOTO payments, and other payment methods.
How responsive their customer support is?
While dealing with different payment modes in the other region, it is pretty evident that you will face issues with the service. Some will be major, and some will be minor. If it might be possible, you can ignore the problem, but the effect of the issue on your business may make it challenging for your business to operate adequately.
So, you should check with the service provider about the tech support. Healthy tech support makes your business more responsive and more active.
Their expertise in fraud management
Fraudsters are fierce and highly-motivated, stealing every possible opportunity available for the merchants by attacking their data. Fraud fighting tools are highly recommended for the business in order to protect their business. So, you should ask a few simple questions to your service provider to secure your business.
- What tools are they providing to identify and prevent frauds? These may be third-party or in-house tools.
- Does the gateway provide benchmarks for the industry, company size, company type, etc.? This data lets you gauge your own fraud incidence against similar companies to know if your fraud levels should be of concern.
- How far will they go for you to implement best practices for preventing fraud? Again, fraud is such a critical issue in CNP (Customer not present) transactions. The more guidance and expertise a payment gateway can provide, the more valuable their service will be to you.
What do they offer in terms of credit card processing?
Credit card processing is one of the most vital features for merchants. This is the best solution to maintain the cash flow for the businesses.
Plus, having a credit card payment option keeps you up-to-date on the trend. It makes you the priority of those clients who believe that cash is an outdated payment mode.
So, before opting for service from any gateway service provider, you should ask a few questions from them.
- Do they provide credit card processing with their payment gateway service?
- What card network do they support?
- Do they provide onshore and offshore both credit card processing?
How well can they support your growth?
Plus, how a payment gateway responds to specific issues, it is beneficial to know what other kind of guidance they may offer regarding things like expanding into new countries, accepting new types of payment methods, and other essential issues or opportunities. For business growth, these features are crucial, and a payment gateway that can provide expertise and experience in these areas can be invaluable.
Also, with growth, will likely come progress in processing volume? If you expect huge boosts to your volume, it’s good to know how this might impact your fees and if the gateway offers different fee structures for higher volumes.
Planning your business’s future requirements and growth potential presents an opportunity to consider if adding a second gateway would benefit. As specified, having multiple gateways gives you the ability to route transactions based on Geo-location, product lines, and more. It also speeds financial reconciliation, lets you optimize for retries, and decrease certain kinds of risk, ultimately providing potentially critical flexibility that will support your business expansion.
The above point will make a clear picture that you should continue with the service provider or not? To make your work easy and save your time-wasting in search of the service provider; We are introducing eMerchant Pro payment service provider to the merchants. It is a high-risk payment processing service provider in the industry. Your business nature hardly matters to us. Whether you are into a high-risk industry or low-risk, we have a solution for you.
The payment gateway for IPTV with eMerchant Pro
As a merchant, if you are looking payment gateway for IPTV, eMerchant Pro is the correct destination for you. eMerchant Pro equips you with an IPTV payment gateway for your business. You get the ability to process your payouts hassle-free. Besides payment gateway, it provides you IPTV merchant account, which entitles you to receive your payouts via credit card and debit card.
eMerchant Pro helps your business in several manners in order to make your business prosperous. Its feature-full payment gateway comes with many facilities to make your business more active and accessible. You can offer your clients payment via various ways like card, eCheck, mobile payments and others with coinage solution. As a result, your clients can make a payment from anywhere in the world in their local currency.
The feature you get with eMerchant Pro:
- Easy integration
- Easy checkout procedure
- High-risk payment gateway
- Dedicated MID
- Multi-channel payment processing
- Numerous payment modes
- Multi-currency processing
- Credit card processing
- Real-time payment processing
- Recurring payment processing
- Chargeback management
- Anti-fraud tools
- PCI-DSS Level 1 compliance
- Online invoice
- Plug-in support
- Offshore merchant account
- 24*7 dedicated customer support
As per the above blog, we can conclude that choosing an adequate payment gateway is an essential part of any business. It has a vital role in any business dealing online. Payment gateway gives them a risk-free platform to process their payouts.
While opting payment gateway for IPTV, eMerchant Pro is the best choice for you. eMerchant Pro being a high-risk payment processing service provider serves you with the best payment gateway for IPTV. It provides a simple and easy integration with your website. To learn more about the payment gateway for IPTV, contact us right away by filling an online form on our website.