Basic Payment Gateway Selection Criteria

  • When are you going to begin payment processing? Sometimes, business setup can last a month or more, however, such companies as PayPal allow you to start operating in no time. On the other hand, a speedy start has its price. In the long run your operations may be less flexible, and transaction processing fees, charged by your processor (and other intermediaries) may be higher.

  • How much money can you spend on the payment gateway? Prior to signing any contracts, you should consider the structure of all the fees, charged by the gateway, including administrative expenses, transaction processing costs, and upfront cost of the business setup. If you are not going to process high transaction volumes, try to find a plan without monthly fees. It should also be a low-end one and keep your setup budget low as well.

  • When do you want the funds to land on your account? This is an important question to consider, as transaction settlement time varies across different payment gateway service providers. One provider may retain all or a part of your funds; another one may settle your payments in no time. Keep in mind that some providers disburse the money only on particular dates of every month.

  • Does your potential partner allow for processing of international payments? Do you intend to accept international payments in the nearest future? If the answer is “yes” keep in mind that the payment gateway has to deal with them as well. Consequently, your payment gateway provider must be able to handle transactions in multiple currencies and in multiple languages.

  • How secure cardholder data is going to be if you choose a particular gateway? PA-DSS and PCI-compliance and other mandatory requirements must be observed by all payment gateway providers. However, some payment gateway offerings are more advanced than others in terms of security. If you plan to deal with clients you are not familiar with, take a look at screening mechanisms and fraud protection tools your potential gateway partner offers.

At International Payment Gateway you will always get a competent advice and consultation, when the time comes for payment gateway selection. Contact us, and our experts will guide you through payment gateway selection process, and introduce you to the best gateway solutions you can find.