How To Choose Payment Gateways For Your Online Store

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How To Choose Payment Gateways For Your Online
Store
Which payment gateway should you use to build
online store? With dozens of online payment
processing options to choose from, it can be a
complicated decision. Most difficult task isnt
only to decide which platform is the best one,
but also the different factors that you need to
take into consideration when deciding which
gateway is best for your specific needs. Is
the payment gateway supported on your ecommerce
platform? Which ecommerce platform are you going
to be using? Something SaaS-based like
BuildaBazaar or Shopify, perhaps? Whichever
platform youve chosen to create a store, where
possible, choose a payment gateway that already
has a plugin for your platform. Do you want a
payment gateway and merchant account or an
all-in-one payment service provider? Some
payment providers such as SagePay or PayPoint
offer just a payment gateway. They require you
to have your own merchant account. Other payment
providers such as PayPal, which is used by
BuildaBazaar, offer a combined payment gateway
and merchant account. What are the
fees? Payment gateways and merchant accounts
charge various different fees that can include
monthly fees, fixed fees per transaction,
variable fees based on a percentage of
transaction amount. You can use a comparison
website such as PaymentBrain to get an
overview. Does the payment gateway do what you
need? Perhaps you want to act as a marketplace,
taking payments on behalf of sellers who are
listing on your site. Perhaps you want all your
payments under one roof? Most payment gateways
like direcpay and Billdesk, provide the
integration, which are used by BuildaBazaar
helping customers in easy payments. How long is
the contract?
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Historically, some payment providers have been
known to lock merchants into lengthy contracts
of two years or more. This can be a problem if
you find youre not happy with the provider for
some reason after signing. Other providers are
happy to have merchants using them on a monthly
rolling contract. Make sure you understand which
sort youre signing up to. BuildaBazaar provides
a proper pricing plan for everyone ranging from
Silver, Gold, Gold plus. And a free trial of 15
days.
Source SaaS GeeK