The Pros and Cons of eCommerce Payment Gateway

“The eCommerce marketplace is also bolstering globalism with 57% of online shoppers having purchased from an overseas retailer.”

                                (Kinsta)

Therefore, reaching a global audience is one of the most crucial parts of eCommerce. An eCommerce Payment gateway allows you to process payments overseas. Therefore, it will allow your business to reach the audience in other countries as well. However, the pros and cons of a payment gateway will help you decide better.

It will further allow you to choose the best payment service provider for your business. 

Pros of eCommerce Payment Gateway

All the beneficial features of the payment gateway form the pros of the eCommerce Payment Gateway.

1. Accept Multiple Currencies: Accepting multiple currencies for your business allows you to reach a larger audience. eCommerce is all about the spread of the business to other lands. Therefore, allowing your consumers to pay in their local currency provides convenience to them. This will in turn bring them closer to your business and pay easily.

2. Global Card Saving: A feature that exclusively supports the consumers and indirectly uplifts your business. Global Card Saving feature allows the consumers to save the transaction details for future use. Therefore, purchasing in the future will be easy and quite smooth. It is a convenient feature that allows your business to account for returning consumers.

3. Easy Checkout: It is referred to as re-directionless payment processing. A single window for completing the payment is a must. It is recorded that most of the consumers abandon a payment due to redirections. Therefore, a convenience feature for the consumers will allow your business to thrive. You need to put the needs of the consumers at the forefront.

4. Top-Notch Security: The payment processing channel offers top-notch security for payments. Understandably, eCommerce is a High-Risk Business therefore payment security is important. PCI Compliant and SSL Certified payment gateway ensure all the payments are encrypted. You may get a 3D Secure Payment Gateway that enhances the security to the topmost level. OTPs are a contemporary part of the business today and trends are what make an eCommerce business worth it.

5. Fraud Prevention: High-Risk businesses are on the verge of fraud. Therefore, the parameter is considered to be an important one. Fraud Prevention for a high-risk business such as eCommerce helps a business to become more stable. Therefore, ask for fraud and scam prevention tools from the payment service provider for your business. It will help you to tackle the fraudsters readily.

6. Chargeback Management: Chargeback management helps you to automate response for the chargebacks. Moreover, you can easily handle the chargebacks from a powerful dashboard. Managing the chargebacks for your business becomes easy with various tools. It will support your business and significantly decrease the chargeback ratio. 

7. Diverse Modes of Payment: Multiple modes of payment mean better convenience to the consumers. Some of the consumers love to pay through credit cards. Therefore, there is dedicated Credit Card Processing. Furthermore, there are other modes of payment such as eWallets, Cryptocurrency, Net Banking, ACH, eChecks, etc are some of the modes of payment that are readily available. 

What are the Cons of a Payment Gateway?

There are almost zero cons to getting a payment gateway. However, be very cautious while choosing the service provider. The problems or the cons are only related to the service providers such as :

1. Hidden charges

2. Huge setup fees

3. Volume Caps

4. Chargeback problems; etc

Many service providers tend to charge more than actually providing the services. Therefore, choosing the service provider is the first step. Research and understand your needs for your business. Then talk to the service providers regarding the same.

What Should be Your Choice?

Choosing the right eCommerce Payment Gateway provider is necessary. Else it will cause you financial harm in the long run. eMerchantPro offers the best-in-class solution for all your payment processing needs. We have an expert in-house team to assist your every need and demand.

Moreover, you will get a personalized solution for your business and features will be integrated according to your needs. There are various pros for choosing our services for your business as well. We also help you to integrate the shopping cart for a way better checkout experience than ever before.

eMerchantPro is known for its 100% success rate and huge clientele. With a quick integration process, your website can process payments online in no time. Therefore, we make sure that our payment gateway services are integrated into your business ASAP, with these major features for pros, your consumers can get a better payment experience. 

Moreover, we have a complete in-house team for catering to all the needs of the merchants. eCommerce Payment Gateway will be exceptionally designed for your business needs. If you need multiple modes of payment or language support, our payment gateway will be tailored accordingly. Get in touch with our expert team today for a callback and start with the integration process today!