Having an online business is something to be proud of. Accepting payment for your products and services is a big step. There’s a lot to consider when it comes to selecting an E-commerce payment solution. The first two things are the payment gateway and payment processor. Payment gateways are a payment service integrated in an E-commerce platform. Payment processors receive the information and transmit it from the customer’s bank to the merchant’s bank.
Tips For Selecting A Payment Solution
- Choose the right website platform
- Optimize your website so that users can navigate it and make purchases
- Have a website platform that aligns with your business needs
- Pick the right payment processor
- Make sure the payment processor has the correct security regulations
- Educate yourself on any fees or limitations that the processor has
- Accepting credit cards online can be more expensive to online merchants compared to in-store merchants
- Understand your user
- Understand user habits and their preferred methods of payment
