Every now and then you are bound to hear about a company’s security being breached. It is evident that businesses and companies need to keenly look at the methods and systems they use in storing their client’s data. Payment gateway comes in handy in offering a solution to security breaches. It works by linking your business’s website with banks such that transactions made using credit cards happen in real time. The payment gateway has been a game changer, especially for online stores. If you are considering getting a payment gateway service provider, here are the benefits you will reap.
Many payment gateway service providers give you a secure payment platform. To ensure that your data and that of your clients is fully secure, choose a provider who complies with the highest security Payment Card Industry (PCI) standards. Compliance to PCI standards also means that the provider does not charge you more substantial costs than the industry’s standard.
A payment gateway is faster than manual processing of payments. It also saves the time clients would spend coming to make physical payments in the shop. As such, you and your clients have more free time to do other things.
Payment gateway services enable your customers to buy goods and pay from the comfort of their home or from wherever they are. Technological advancement has enabled people to purchase products at the click of a button. If your business has an online presence and you offer delivery services, gateway payment enables your clients to make purchases and pay for them without having to visit your shop physically. It also allows them to shop at any time without being limited by working hours.
Customers are also able to use a bank processor of their choice and make payments in a variety of currencies. Choose a payment gateway provider whose platform offers Dynamic Currency Conversion which enables clients to pay in a currency of their choice.
Confirmation of Payment
Both the trader and the client receive confirmation of a successful payment. As such a trader has control of the payment process, and can immediately take action when a problem occurs. The client also has proof of payment, which makes it easier for any follow-ups where necessary.
Expanded Customer Base
The convenience offered by the payment gateway to your clients increases the number of your clients, and it also enables you to sell your goods worldwide. Thus, you create a worldwide customer base which would have otherwise not been possible if the clients were required to be physically present for them to make payments — consequently, your sales volume and profits increase which is a primary goal to most businesses.
A payment gateway has many benefits for you and your clients. To ensure that you get the best experience and services choose a provider who is reputable, reliable, compliant with security PCI standards, offers Digital Currency Conversion, whose technology is easy to use and whose rates and fees are convenient to your business.