Just like long lines and rude cashiers are capable of ruining your customers’ in-store experience, a bad payment gateway can pose a serious risk to online payments and potentially deprive your business of valuable e-commerce sales.
Fortunately, you can avoid all this by simply conducting your due diligence when picking both the payment gateway and the processor behind it. Begin your selection process by asking these questions about your payment gateway:
Is it compatible with my existing platform?
No matter how great the payment gateway might be, you won't find it very useful unless it can integrate with your current system. Yes, it’s possible to dig deep and customize your platform to match the gateway specs, but the time and money required rarely makes the effort worthwhile.
If you’re having trouble finding a payment gateway that both fits your desired criteria and integrates with your system, then it may simply be time to look into a new system. Truth is, to make the most of modern payment gateway features you need a newer type of platform, so revamping it may not only fix your integration issues but also benefit your business long-term.
Does it enhance my customer satisfaction?
Proper integration will help you avoid hurting your customer satisfaction, but you need to do more than that if you want to truly impress them. For example, 50% of online shoppers claim that they won’t complete the purchase unless their preferred payment method is available, so start by giving them plenty of options.
Then, try to simplify said payment methods by auto filling previously entered information or skipping the checkout process altogether by offering recurring billing for subscription-based products and services.
Whichever payment gateway you choose, ensure that its key features are there not just for show but can actually be converted into real value for your customers and your business.
Will it help my business grow?
The future is unpredictable. Today, customers want speed, convenience and access to omnichannel payment experience, but tomorrow it could be all that and more. If you want your business to attract new clientele and grow, you need to be prepared to cater to these needs not just this week, month or year, but way into the future.
A good payment gateway can definitely make a difference, but even it needs to have the support of an equally good payment API. TransNational Payments can help you obtain both, so you can be prepared to face the headwinds of changing customer preferences with confidence.