A virtual payment gateway or POS (Point of Sale) Terminal is a bank application that allows you to process credit card charges on the Internet. These gateways or POS process card purchases automatically, in real-time, and online.
How To Get A POS Or Payment Gateway?
It is a service offered by banks, so you need to ask your bank and request virtual payment gateways. Each bank has different economic conditions, but most entities apply sales commissions that range from 0.50% to 2%.
How Are Payment Gateway Integration Usually Carried Out?
The technical staff of a bank is in charge of integrating virtual international payment gateway and conducting appropriate tests in your virtual store. When they provide you with your POS data, you send it to the bank, and within a maximum period of 24 hours, you will have it ready to use. Thanks to the integration of payment gateways, the customers of your online store will be able to make their payments knowing that you are offering them maximum transparency and security. In fact, with virtual payment gateways, the seller does not use private customer information since the card number is entered in the bank’s server, sent encrypted for verification by the card issuers. This confirms the reliability of virtual payment gateways as an online payment method.
What Is An Ecommerce Payment Gateway?
A payment gateway is software that facilitates card payment over the Internet. Thanks to this service, your customers can pay for their purchases from your website without any problem. There are many payment gateways that you can choose from. However, to get the maximum possible performance from your e commerce, you will need a fast and quality service. Hence, you must always opt for the best payment gateway according to your requirements.
Remember that a nice design and products that everyone wants to buy are useless if the customer encounters problems while paying.
Steps To Choosing A Good Payment Gateway For Your Ecommerce Website
- Analysis
The first phase is that of analysis. At this point, you must establish what you need in a payment gateway for e commerce. There are some common aspects to take into account, which we will talk about in this section, but it is also important to know those unique characteristics that differentiate your business. For example, maybe in your business, you do home deliveries. So, how about integrating your delivery schedule with your payment gateway? These are just a few of the many questions you will need to ask yourself. As for the general characteristics, these are some of the most relevant ones:
- Integration: In a payment gateway, it is essential that the integration should be simple and fast, or at least that the supplier company provides you with access to a technical team to advise and guide you during the installation process.
- Usability: A payment gateway is one of the parts of your e commerce business that will receive the most traffic. Regardless of the type of products, all your customers can end up paying at the same time. Therefore, the gateway must be agile and easy to use.
- Costs: Although in this aspect, it is preferable to make a good investment to ensure we have a quality service, it is not necessary to spend a fortune either.
- Payment Methods: The more, the merrier. In the world of Internet, more and more people prefer to put aside their cards and use platforms such as PayPal or Bizum. Make sure to offer these and other secured payment methods to your customers.
- Security: Your customers’ data will pass through the payment gateway. Hence, it is essential that it is secure and that no one can access this information, not even you.
- Resources: Finally, you must consider what kind of functions and resources you need for your business. Do you want to offer subscriptions? Pay with a link using Pay by Link? Pay by QR? Think about what you need, and don’t settle for less!
- Comparison
Once you have established the characteristics you need in your payment gateway, it is time to move on to the comparison phase. Gather information about the different payment gateways that are available and filter them based on the characteristics you need. Discard those that do not meet the necessary conditions and keep those that meet the most important ones. Select those that comply 100% with what you were looking for. Then, compare the prices of those that you kept as options.
- Choose
After comparing all the options, you will see more clearly which is the best alternative for you. If there is still a tie, choose an e commerce payment gateway that can grow with you. Remember that even if your business is small or medium at the moment, one day, it will become a large company. So, the idea is always to have partners who can grow as much as you.
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