Cooperation can sometimes be a scary thing to most online business owners. Choosing an online payment solution is one of it. It can be something that you fear of if you don’t know what the cases that you have to avoid are. Implementing online payment solution on your website is a big step for your business. Without the proper guidance, you might lose your customers just because you chose the wrong payment gateway. So, a few bad practises must be checked beforehand.
Hidden or extra fees
It’s been known that sometimes the biggest problem came from the small things, especially when it is unexpected. The fact that payment provider sometimes surprised you with hidden fees or sudden fees change can be very terrifying. This, in fact, will be a setback for your company. What you need to do to avoid this is you need to make sure the payment gateway you’re choosing has a transparent pricing structure or “extra fees guaranteed”. This will allow you to know how much and what you pay for. Bear in mind; do not try to seek low cost or the one that is below the market price because that is how you can usually get tricked.
Unfriendly to users
Avoid any payment options that potentially give your customers bad experience. This is very important. Customers who experienced bad interaction with the payment process are more than likely not going to visit your website again. Redirection is one of the things that is bad when you are in the process of paying. It will not only waste your customer’s time but also make them feel annoyed. The best way is to find a payment option that will keep your customers on your site, for example one-click payment. Do not force them the visit another external services just to complete their purchases. Less frictions transaction is what customers mostly want.
It is hard enough to find the perfect or suitable price offered by online payment gateway. In your way to find one, you might learn that the payment gateway does not have the feature that you want. Not having the ability to cater payment for your online business is a major burden for you and the customers, you Satisfied customers will boost your sales in return, this is for sure. So, finding a solution that supports various business models can help you to deliver the customer’s expectation. Customers need to know that your website can combine various models of billings. It will make your customers feel good when visiting your website and ease the payment process.
Fraud is a dangerous thing, particularly when it is related to online business. That’s why you need to find a payment gateway with strong security. You do not want your customer to have even the slightest fear when making payment on your website. A payment gateway without security authorization is just an invitation to fraud syndicates. Not only had you put your customers in danger but also yourself. This is a common mistake made by online business owner when choosing a payment gateway; not checking the payment provider security background.
Look for a payment provider that proves or have machine learning solutions, anti-fraud tools, and even PCI-DSS Compliance. Payment providers that have these are preferable because they have protection against any security issues.