Mobile payment issues: You might control much of the security at the transaction, but you still don’t control who has access to your customer’s mobile device.Data breaches: TLS encryption helps most payment gateways handle confidential processing data like card information, but once the data is on a server, that server remains a risk.According to a recent report, around two-thirds of consumers would stop shopping with a retailer previously hit by a security breach.Īlthough a high-quality payment gateway should be secure, there are some security vulnerabilities you’ll have to keep in mind: In an increasingly digital world, security must be of the utmost concern. Although many payment gateway providers charge fixed transaction fees for domestic and international commerce, some charge more for cross-border transactions.Ĭonsider tools like Webinterpret that can plug into your ecommerce platform and provide a fully localized international checkout process enabling you to accept payment in 25 currencies. International shoppers may also run into higher prices. For example, in China, Alipay is much more popular than payment options that might be familiar to customers in the US. Merchants looking to capture a broad international audience need to ensure their payment gateway can work with different online stores and payment platforms. International shoppers may not have a payment option. Gateways rarely accept all types of cards/payments.Īlthough many payment gateway providers like to advertise the universality of their gateways, they typically won’t highlight when they can’t accept payments from specific card issuers and processing portals.īefore selecting a payment gateway, ensure you understand what your customers need to use, where the limitations lie and what’s excluded. When choosing a payment gateway, you’ll have to understand and accept some limitations - many of which are inherent to the payment gateway infrastructure. Redirects have the advantage of simplicity for the retailer, though they also mean less control for the merchant - and a second step for customers.Īll payment gateways are not created equal. When the gateway takes a customer to a PayPal payment page to handle the complete transaction, it becomes a Redirect.Ī small business can use a Redirect gateway to incorporate the convenience and security of a larger platform. Redirects often include options for alternative payment methods, such as a company allowing the use of PayPal. If you decide to go this route, ensure that you are confident in the security of the payment gateway. However, the downside is that you won't be able to control the user's entire experience through the payment gateways. Like redirected payment gateways, this method can simplify the payment processes while ensuring increased security on the back-end. Through this method, the front-end checkout will occur on your site, but the payment processing happens through the gateway's back end. If you handle payments on-site, every variable counts and any improvement to the shopping experience can create dramatic changes in your bottom line - especially true for any retailer with a high sales volume. Now the advantages are flipped - you’ll have more control and responsibility. Large-scale businesses tend to use on-site payments handled on their own servers where the checkout experience and payment processing all work through your system. There are generally three types of payment gateways: On-site payments.
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