Whether you are an eCommerce platform owner or just maintaining your online presence, you want to offer your customers a safe, quick, and easy-to-use payment system. The chosen payment solution has to satisfy both the needs of your customers and your business. So, it has to be protected from fraud, support a variety of payment methods, be convenient to use, and compatible with your platform.
To accept electronic payments and be able to process credit or debit cards, a merchant uses a payment gateway. Choosing the right payment gateway determines the currencies you can accept, the transaction fee, how fast money gets in your merchant account, and the payment methods you’ll offer.
Advantages of a Payment Gateway Solution
Getting a digital platform to accept the payments online can ultimately improve the overall performance of your business. Here are the benefits of implementing a payment gateway:
Easy Checkout: The swift and seamless checkout experience is a must from a customer’s point of view. Payment gateway enables these features and makes online shopping as easy as possible.
Impulse purchase: It is observed that more than 40% of customers cancel their purchase if the checkout/payment method is tedious or complex.