It seems like there are new eCommerce businesses springing up every day, and with good reason. Starting an eCommerce store requires very little investment capital and often provides an excellent return on investment. However, that’s true only if entrepreneurs pay attention to every detail, including payment processing. Read on to learn how to choose a suitable eCommerce payment processing platform.
Choose Appropriate Integration Methods
Not everyone realizes this, but there are three different ways to integrate a payment processing platform. Some programs are hosted through gateways, others are direct-posted, and yet more are non-hosted. Each of these solutions has its own set of benefits and drawbacks. There is no one perfect solution that works for every business owner.
Hosted payment gateways are easy to integrate but do not offer business owners much control. Direct-post payment processing provides maximum branding capabilities but is much less secure. Non-hosted payment gateways, also called integrated platforms, provide comprehensive services and allow business owners to tailor payment systems to the companies’ needs. But, they tend to cost more.
Consider Available Features
Successful eCommerce business owners need scalable solutions. They also need payment processing capabilities that can be integrated with the company’s current workflows without interrupting the customer experience. Instead of repeatedly disrupting the company’s payment structures, look for a payment processor with all the features required to keep the business running smoothly as it scales up. For most business owners, those features include:
- Mobile access
- Easy integration
- EMV credit card processing
- Omnichannel offerings
- Customer support
- Look for the Best Value
Every business works on a budget, but cost concerns shouldn’t top the list when it comes to factors to consider before choosing a payment processor. Instead of considering only cost, business owners need to think about which service provider will offer the best value for the price. It’s also important to work with a provider that offers upfront fee schedules instead of slipping in hidden fees.
Ask About Product Restrictions
Not all payment processing platforms will be suitable for all products. Some platforms only support the sale of physical goods, for example, which leaves purveyors of digital products in the lurch. There may also be industry restrictions that limit the kinds of payments can be accepted and from where. When in doubt, it’s always best to ask about product and payment restrictions before getting too far into the process.
Prioritize Customer Support
Some payment processing services offer a greater level of customer support than others. It’s always better to work with one that offers not just a support ticketing system but also a phone number that merchants can call to speak to a live representative. It can be very frustrating to work with a payment processor that isn’t capable of quickly resolving all of the issues that come up in the course of collecting payments.
Work With Industry Leaders
It’s always better to work with industry-leading companies that provide a full range of payment processing services than it is to gamble on choosing a newer company just to save a few dollars on monthly payments. BlueSnap has an established reputation as an excellent payment processor, so its website is a great place to start your search.