Business’s as they go online, it is important to have a suitable payment gateways integrated to the system for the web or app users to make payments to the business as per needs. Some of the important factors to consider are listed below
- Consider the gateway which is most popular for the user base and prioritize that
- Local Gateways in each country can help generate business from bulk of users from that country however, if the audience are of wider reach adding gateways which can be used from outside the country users should be considered.
- Debit Card and Credit Card gateways – depends on user behavior in regions choose to prioritize the Debit Card or Credit Card gateways
- Generally Credit Card Transactions carry a higher service charge to the business compared to Debit based gateways like KNet, QPay, SADAD Etc.
- Payment Aggregators
- Since most payment gateways necessitates to have a real company registered and a bank account for the company, most small businesses face difficulty in getting a gateway for their new project or app. This was the demand the payment aggregators like Payfort, MyFatoorah,GoTap etc catered to.
- Users can create an account with such providers, integrate the gateways and then receive the money via the service provider. The service provider receives the money from customers and then transfers to the company on scheduled time basis.
- International Channels
- Since online shopping took off, many payment gateways like Paypal,Stripe Etc have become really popular. Provided that these companies support depositing money to your account in your chosen country it is good to integrate with such channels. These channels allows find collection from across the world using the Credit Cards from any country.
The commission factor
When ever you choose a payment gateway, make sure to ready the terms, charges involved and more particularly the transaction charges and its structure from the company offering the service. It is ideal to negotiate a good deal from the beginning based on the type of transactions that you are expecting.
Paying a fixed fee per transaction might be a sometime better than giving a percentage from the transaction and vice versa, this has to be seen from the company’s sales position and right choice to be opted for.
At Emstell Technology Consulting, along with the Website Design Development, Mobile apps development and Ecommerce solutions development services, Emstell also offers variety of payment gateway integrations for the needs of the business in apps and websites.