How to choose an online payment gateway –questions you should ask

Choosing the right online payment gateway for your business is like choosing a partner for life. It crucial, and it gets difficult to select the one that matches your criteria.

Whether you are selecting a new online payment gateway provider or looking to replace your existing one, there are many questions that you would want to ask for an efficient, flexible product that fits your budget. Let’s look at what are the major concerns that you should raise when finalizing on an online payment gateway.

How easy is the onboarding process? 

Making business go fast is the aim of all entrepreneurs. The valuable time of an entrepreneur should be focused on their products or services, rather than staying busy in the gateway setting up process. For instance, Easebuzz, a payment gateway, provides complete online KYC process where the business can get started with handy PAN card and bank details. Find out a partner that provides quick onboarding.

Are there any value added features other than regular payment options?

Besides ensuring smooth transactions, payment gateways should provide other value-added services. From attracting customers to managing reports, event tracking, email and SMS marketing, referral schemes, quick pay options even without a website - there are numerous services that your provider can offer you and make your online operations easier.

How secure is the payment gateway?

Today, online businesses who accept digital payments face the risk of frauds, which can hurt the business badly. It’s important to go with a payment provider that offers secure transactions. This means it should at least conform to the PCI Data Security Standard (DSS) and has an end-to-end SSL encryption for all transactions.

How good is their customer support?

You’re dealing with monetary transactions and daily setting of funds, and so your solution provider should be accessible 24/7. You definitely need to know where to ask for support, and that you should not be waiting 24 or 48 hours to get their reply. Good payment gateways like Easebuzz will assign you an account manager that will be there for you when you need him.

Is the pricing transparent?  

Ask the provider to list down all the costs you might come across whilst using their service to avoid horrid surprises of paying double the actual price.

Your choice of online payment gateways in India can impact the overall experience that you promise your customers on the website, so think through consciously before choosing one.