Every business aims to achieve bigger growth and connect with more customers. Eventually at some points, they are drawn to expand their payment method or even upgrade it. That is why having a payment gateway is very crucial these days. With that being said, a payment gateway is an important part for a company to grow.
Accepting payment online through a payment gateway does not only show that you care about your online customers but also shows that your company is capable of keeping up with the tech trends. But, bear in mind that choosing a payment gateway can be tough, considering that there will be many things that you can overlook.
So, what are the things that you need to look for in a payment gateway?
Customer’s details and data come first in order to prevent fake order or scams. Usually, the details will be consisting of name, phone number and bank details but given that these are the details that we use everyday, it could mean a disaster if it falls to the wrong hands. That is why validating the security status of the payment gateway should be on top of your top priority.
Make sure that the payment gateway you are about to choose has at least a PCI-DSS certification. Payment gateways that are complied with PCI Data Security Standard are more than likely not to have any security issues. Not only that, it’s an assurance that the payment system is secure, comes with early detection system and also prevention measures.
PCI-DSS is also proven to be a top quality security payment as Verizon Enterprise recorded that 0 company was breached in 10 years and those who were breached were found to have not been complied fully to PCI-DSS at the time of the breach. On the other hand, it is also important to find out whether the payment gateway is authorized by the central bank of your country.
2. Payment Service
A solid and comprehensive payment gateway is meant to serve all customers. In order to analyze the capability, you should keenly observe the payment channels offered, and also the client’s profile. Thorough analysis is needed to prevent your business to shift to another payment gateway frequently and go through a long procedure repetitively.
You can find additional features and options that each payment gateway owns to uplift the payment experience for your customers. Each of it is created to cater to specific problems, for example, MOLPay Virtual Terminal; a mobile app created for merchants who are looking for a portable payment processor that can accept payment via their smartphones.
Research done by KoMarketing has proven that a good UI/UX can increase conversion. Some customers might feel interrupted due to unfriendly and traditional design. This does not only apply to a website, but it can severely affect the customer’s experience when they fail to pay or proceed with the crucial process at the payment checkout page too.
As a user in the merchant’s post, you also have the right to experience a good UI/UX, especially in the merchant portal. Managing the transaction is never an easy task, it needs to be done properly and carefully. Therefore, a merchant portal that is easy to navigate is necessary for smooth business operation.
4. Merchant’s portal
Nowadays, everything shall be omnichannel, including how you do your work since you might need to be away from the office at times. With MOLPay’s merchant portal, you can track the transactions report easily from your smartphones or tablets. There is no such excuse as crowded or less friendly interface.
Merchant portal basically is about dealing the money and we all know how important that is to do timely. Sometimes, your customers report some urgent cases and making them wait till you can analyze the report on desktop will only make them lose your trust in just a second.
Hence, the comprehensiveness and good UI/UX on the portal are very crucial for smooth navigation and tracking. That is how you can increase efficiency and let your fellow employees to work on the same thing easily, especially with the presence of multi-level access feature.
Before you put any payment gateways into test, you might not realize some little differences that they have. Thus, you must always be cautious and do not take less time to do your research. Ask directly to the company if they can provide you with a trial which can help your analysis result to come out more comprehensive and ease your decision-making process.
To discover how MOLPay can help you expand your payment options and increase sales, schedule a free appointment with our team today.