How to choose the right payment gateway for your e-commerce business

How to choose the right payment gateway for your e-commerce business

E-commerce is on an upward slope with more and more people shopping online each day. Anything and everything can be bought online, opening the gates to a very viable business venture. While developing your business plan, choosing the right payment gateways in India for your e-commerce site is of utmost importance. It can be quite challenging to understand which gateway to use considering we are spoilt for choice these days.

Below is a list of things you should consider while choosing your payment gateways in India from

  1. Security

The #1 thing to consider while choosing payment gateway is security. You must inquire about their security strength (card storing, 3D secure, fraud protection tools, Verified by Visa, token system etc.). After all, your customer’s safety comes first. You also need to read up on the various security features your payment gateway partner employs before you sign up with them.

  1. Pricing

Most payment gateways in India charge a small fee to process the payment and deposit it into your account. Make sure the online payment gateway tools you choose have a pricing structure acceptable to you.

  1. Integration

Making sure you could easily integrate the online payment gateway tools with the help of easy APIs is important to the overall scheme of things. Without easy integration, you would not be able to streamline your payment processes and the entire customer experience would suffer.

  1. Reach

Enquire whether the online payment gateway tools you choose can support you globally or they can only process payment in a specific region. A prerequisite to this is having your roadmap ready and deciding whether you plan to expand globally or not.

  1. Support

A payment gateway is like a backbone to any e-commerce or online business. Downtime or service failures hamper the profits deeply. Knowing whether the gateway provider you choose is equipped to provide quick and effective support is vital.

  1. Scalability

Ensuring the online payment gateway tools you use are scalable is critical to your success. Your business might be small right now, but it will grow. You need to plan for the future and ensure the payment gateways in India you choose are equipped to handle the amount of transaction you might have when you scale up.

  1. How many are enough

Last but not the least, decide whether you want one gateway provider or would like multiple online payment gateway tools. Having all your eggs in one basket might be cost-effective but you would be left with no backup. Having a definitive idea about this would help you in reaching your decision easily.

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