How do I choose a payment gateway?

Choosing the right payment gateway is a crucial step for any entrepreneur running an online business. The right integration with a payment system can significantly impact customer convenience, sales conversion and transaction security. In this article, we will outline the most important criteria to consider when choosing a payment gateway.

What to look for when choosing a payment gateway?

1. security of transactions

Security is an absolute must. When choosing a payment gateway, make sure the provider offers the highest standards of data protection. The most important security features are:

• PCI DSS (Payment Card Industry Data Security Standard) certification: This certificate confirms that the payment gateway system meets payment card data protection standards.
• SSL encryption: provides a secure connection between the website and the user, which protects sensitive customer data.
• Two-factor authentication (3D Secure): adds an extra layer of security for credit card payments.

2. usage costs

Different payment gateways have different pricing models. Typically, the fees associated with using the gateway include:

• Installation fee: one-off set-up fee.
• Transaction commission: a percentage of the value of each transaction (e.g. 1.5-3%).
• Fixed fee per transaction: some gateways charge a small amount for each transaction, regardless of its value.

It is also worth checking if there are any hidden costs, such as withdrawal fees, currency conversion or a monthly subscription for using the gateway.

3 Supported payment methods

The more payment methods you offer your customers, the more likely they are to complete their purchase. It is important that your payment gateway supports the most popular forms of payment, such as:

• Credit and debit cards: Visa, Mastercard, American Express.
• Bank transfers: quick transfers, e.g. PayByLink, Przelewy24, PayU.
• Mobile payments: Apple Pay, Google Pay.
• Digital wallets: PayPal, Skrill.

Adapting to customer preferences increases conversions and purchase satisfaction.

4. ease of integration

It is good if the payment gateway is easy to integrate into your online shop or content management system (CMS). The best payment gateways offer:

• Plug-ins and integrations: for popular e-commerce platforms such as WooCommerce, Shopify, Magento, PrestaShop.
• API: which allows developers to flexibly integrate payments into any website or application.
• Simple implementation process: check that the supplier offers clear technical instructions and support during the implementation phase.

5. support for different currencies and locations

If you are selling internationally, pay attention to the ability to handle different currencies. The ideal payment gateway should:

• Support payments in multiple currencies, allowing for easier expansion into foreign markets.
• Provide favourable exchange rates and low currency conversion fees.

Some gateways also offer special features such as real-time currency conversion, making it easier for customers to shop in their local currency.

6 User experience (UX)

The payment process should be as simple as possible so that the customer can complete the purchase quickly and seamlessly. A well-designed UX of a payment gateway includes:

• Minimum number of steps to complete payment.
• Mobile responsiveness - payment forms must work seamlessly on smartphones and tablets.
• No redirections - ideally, the customer remains on the shop's website during the payment process, without having to go to external sites.

7 Technical support

Unforeseen problems can arise at any time, so it is important to choose a payment gateway provider that offers solid technical support. Pay attention to:

• Availability of support: preferably 24/7.
• Various forms of contact: helpline, live chat, e-mail.
• Knowledge base: FAQs, guides and tutorials that can help you solve the most common problems without having to contact support.

8. Supplier reputation

When choosing a payment gateway, check reviews on the provider. Look for information on:

• Payment execution times: how quickly the funds reach your account.
• System reliability: whether there are problems with interruptions.
• Transparency of charges: whether users complain about hidden costs.

Summary

Choosing a payment gateway is a key part of doing business online. Security, cost, available payment methods and ease of integration are just some of the criteria to consider. Ensure that the payment process is intuitive and secure for your customers - this will increase the success of your business!