Get safer card payments with a secure payment gateway
Between keeping customers happy, inventory stocked, and employees on track, you have a lot to juggle as a business owner. You know that accepting card payments is a critical piece of your day to day operations, but the last thing you have time for is deciphering a bunch of industry jargon about payment processing. You need a payment solution that is secure, reliable, and accommodates the way your customers want to pay now and into the future, but you may not be sure how to choose from all the available options. The good news is, you don't need to know everything about payment processing to reap all the benefits. You just need a solution that makes it easy to accept card payments securely.
For many businesses, a payment gateway is that solution. One of the best options available for accepting card payments securely and efficiently, a payment gateway facilitates transactions using an online application. A payment gateway is the solution of choice for e-tailers, brick and mortar merchants, and businesses that operate both online and at a physical location. In this article we’ll explore more details about using a payment gateway to process card transactions.
Accepting all major credit cards
Let’s start with the basics. Cash and check are no longer the preferred way to pay. Most consumers today expect to be able to pay with their credit or debit card instore– and if they are buying online, it is also a given. With a secure payment gateway, you can accept not only Visa and MasterCard, but all major credit cards, ACH payments and debit cards. With one click, your customers can pay what they want, when they want it. By using a shopping cart and plugin on your website or mobile app, you can even accept payments via a smartphone. Letting your customers know that you accept their payment type of choice is the first step to creating goodwill and a long-standing relationship.
Growing your business
If you run a brick and mortar business, a payment gateway can be a great tool to help you reach an even larger customer base. With millions of online shoppers, there is practically no limit to how much your business can grow and prosper when you make your goods and services available on the web. Even restaurant operators can benefit from online payment capabilities by offering customers the option to place their orders and pay in advance of pick up or delivery.
Businesses that offer ongoing services such as house cleaning, lawn care, or babysitting, can use a payment gateway to more conveniently accept payments online. Many payment gateways provide recurring billing solutions, which encourage customer loyalty by making it easy to pay on time, reducing late payment fees and ensuring uninterrupted service. Recurring billing is especially convenient for providers that offer subscription based delivery services of niche products like meal and recipe kits, toiletries, cosmetics, and more.
By offering your customers safer and more convenient payment choices with a payment gateway, you can enjoy the perks of consistent cash flow, higher customer satisfaction, and a streamlined payment acceptance process.
Keeping your customers’ payment data secure
No doubt about it, keeping cardholder data safe from theft is a big responsibility. With a payment gateway, part of this responsibility is transferred to the service provider. Reputable payment gateway providers use tokenization to secure cardholder data. Tokenization secures data by replacing card numbers with a token or unique reference number. It is an effective way to guard against unauthorized use of sensitive cardholder data, because it removes the information from the merchant’s systems altogether.
Finding the right gateway provider
When researching payment gateway providers, it’s important to consider several factors. Research and read reviews about the providers you are considering, and ask your colleagues and industry associations for recommendations. Find out what the pros and cons are with working with one provider over another. How is the customer service? What is the funding schedule? Be sure to ask about upgrade options. For example, if you are considering selling overseas, will the payment gateway be able to accommodate additional currencies and other complexities of international payments? And last but not least, be sure to that the provider you choose is reliable and uses the most advanced cardholder data security solutions. It may seem like a high bill to fill, but finding the right payment gateway provider upfront will pay off in the end.