There's no shortage of payment gateway providers out there, and you may be wondering how to choose the right one for your business. The truth is that each company is different—your needs may vary from someone else's.
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Some basic guidelines to help you select a service:
It's always good to get multiple quotes and compare them side by side before making a decision.
Consider what features are important to you. Some additional capabilities can make life easier down the line, so think about what will serve you best in the long run. It would help if you also kept your business's specific goals in mind when deciding which provider is right for you. They may offer some services that aren't relevant to your operation but might become useful as it grows and evolves. So while it's important not to overspend on options that won't benefit your company, it's worth looking into which ones could turn into valuable tools down the road--you never know when they might come in handy!
Recurring vs. One Time Fees
When setting up a payment gateway, recurring billing is the first thing you want to address. When you set up your service with your merchant account (more on that later), either through an online bill or in person, make sure that recurring billing is included in your contract. Recurring billing means the customer regularly charges a set amount for their subscription.
Whereas one-time charges do not require any additional billing from the merchant; once the initial transaction is completed, there will not be any subsequent charges from your account unless it has been pre-approved or authorized by the cardholder.
Paying Attention to Purchasing Funnel
When setting up a payment gateway, recurring billing is the first thing you want to address. When you set up your service with your merchant account (more on that later), either through an online bill or in person, make sure that recurring billing is included in your contract. Recurring billing means that the customer is charged a set amount regularly for their subscription.
Whereas one-time charges do not require any additional billing from the merchant, once the initial transaction is completed, there will not be any subsequent charges from your account unless it has been pre-approved or authorized by the cardholder.
Considering the Add-Ons
When setting up a payment gateway, the first thing you will want to address is recurring billing. When you set up your service with your merchant account (more on that later), either through an online bill or in person, make sure that recurring billing is included in your contract. Recurring billing means the customer regularly charges a set amount for their subscription.
Whereas one time charges do not require any additional billing from the merchant; once the initial transaction is completed, there will not be any subsequent charges from your account unless it has been pre-approved or authorized by the cardholder.
Security
When setting up a payment gateway, recurring billing is the first thing you want to address. When you set up your service with your merchant account (more on that later), either through an online bill or in person, make sure that recurring billing is included in your contract. Recurring billing means the customer regularly charges a set amount for their subscription.
Whereas one-time charges do not require any additional billing from the merchant, once the initial transaction is completed, there will not be any subsequent charges from your account unless it has been pre-approved or authorized by the cardholder.
Consider the many different factors before settling on a payment processing firm for your business.
When setting up a credit card payment processing system for your business, there are many different factors to weigh and consider. You need to settle on a payment gateway that is PCI compliant—that is, it complies with the Payment Card Industry Data Security Standard guidelines. This is necessary to safely process credit card payments on your website without worrying about your customers' data being compromised. Once you have settled on a secure payment gateway, make sure it has integrations with the shopping cart software of your choice (if you are selling online) and with any accounting or bookkeeping software you use. It should also be compatible with all major credit cards. Also, consider availability in your region—while most payment gateways work worldwide, some do not support certain areas or countries. Finally, look into fraud prevention tools and customer service options.
You may ease your security concerns by obtaining an PCI DSS certificate payment gateway platform because prevention is always preferable than a cure.
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Conclusion
Of course, payment gateways are only one aspect of running a business.
It's crucial to have a platform that enables users to pay through a trusted payment method that provides a simple and practical payment option for both one-time transactions as well as recurring payments. Hence AuroPay was created looking at all business aspects.
