4 Reasons Why Your Business Needs a Payment Gateway

In today’s digital age, your business has to not only maintain an online presence but also know how to properly leverage it — and what better way to do so than by accepting payments online. To ensure that your customers' payments are processed securely and efficiently you need a payment gateway. Here are four important reasons why:

1. E-Commerce Support

A payment gateway plays an important role in e-commerce by helping make online payments and web-based mobile payments possible. As opposed to a virtual terminal, for example, a payment gateway is a client-facing tool that allows your customers to purchase goods or services from your website without having you manually key-in any payment information. That's why it's especially important to select a payment gateway that will make the online checkout experience fast, simple and, most importantly, secure.

2. Online Security

Speaking of security, there's no shortage of malicious individuals and entities trying to intercept and capture vulnerable payment information online. You know it, your customers know it and so do payment processors. Fortunately, payment gateways are designed to preserve the integrity of sensitive cardholder information through encryption. Enciphering the payment data helps ensure that it's properly received only by the authorized party.

3. Fraud Screening Tools

Keeping in mind things like fraud and chargebacks, it's critical to not only protect the cardholder data but also ensure that it's used correctly in the first place. For instance, the TransNational Payments' payment gateway allows you to set restrictions, like Address Verification Service (AVS) and Card Verification Value (CVV), to help protect your business from fraudulent transactions. These are crucial in preventing card testing fraud and making your online payment processing secure. 

Are you looking to reduce your liability even further? Avoid storing sensitive cardholder data unless absolutely necessary. If you do need to keep sensitive cardholder data around though, a payment gateway can be your best friend. For instance, a payment gateway from TransNational Payments is equipped with a secure customer vault that keeps the data safe, yet easily accessible to you.

4. Business Automation

Payment gateways aren't designed to only benefit your customers — they also help run your business more efficiently. A payment switch, for example, automatically routes your incoming transactions to the correct issuing bank for approval, while recurring billing lets you set up automatic withdrawals to prevent late payments and establish steadier cash flow — business automation at its finest!

Not all payment processors offer payment gateways with comprehensive security coverage and advanced feature functionality, but TransNational Payments does! Contact us to enhance your business with better online payment processing today.