While the wide availability of payment gateways may lead to competitive pricing for users, it may also make it difficult for store owners to make the right decision. In this guide, readers will get several tips on choosing the right merchant account and payment gateway solution for their businesses.
Ensure That All Major Payment Options are Accepted
An important thing to keep in mind is each payment gateway’s acceptance policy. Will customers be able to use major cards? Does the provider offer the opportunity to choose which cards the store will accept during the signup process? Even if a store owner doesn’t sign up for all payment options at first, they may be able to add them later if customers request them.
Learn About the Fee Structure
Every gateway has a separate payment structure, which means that fees are a crucial consideration during the selection process. Some providers charge a one-time setup fee, while others charge a monthly maintenance fee or per-transaction fees. In some cases, there may be batch fees as well, which are charges incurred for each set of transactions the company processes. Ask how often charges occur and be sure there are no hidden fees.
Ensure the Security of Customers’ Data
It’s important to choose a payment gateway that’s PCI (Payment Card Industry) compliant, meaning that there’s a security system that’s been independently evaluated and the provider is current on industry standards and regulations. The gateway stores customers’ sensitive data, and sellers should ensure that the data will be secure.
Ask About Chargeback Support
Unfortunately, there may be times when customers request a chargeback as a way of disputing a transaction. While some gateways provide chargeback support, others may credit the customer back without an investigation. That’s why it’s important for online sellers to learn as much as possible about providers’ chargeback policies before they sign an agreement.
Sellers can take the stress and frustration out of credit card processing by choosing a gateway that meets their needs. Keep these tips in mind to ensure that the chosen solution offers the pricing, features, and ease of use the company requires. Visit or call Blue Snap today to learn more about its products and services.