An efficient gateway is an important part of every merchant’s business. It enables you to process sales with virtually any type of payment that your customers make. Although payment gateways aren’t commodities – it is important to look at the differences between providers. Comprehensive payment integration can: eliminate the need for manual record keeping, enable quicker reporting with fewer mistakes, and remove human error from the recording process and save money. When shopping for payment gateways, ensure that they use PCI-compliant data security protocols. Does your desired payment processor offer integration with customer relationship management platforms,accounting software and checkout carts?
Fraud protection is another major consideration when searching for a payment gateway. Online fraud is a major issue in the US and has only increased in the last year with the introduction of EMV chip cards. Chip-enabled credit cards help prevent retail fraud at the point of sale. As a result, most fraudsters have moved in-store operations to the online sphere, where many payment gateways lack sufficient fraud prevention services. In fact, many fraud experts predict that online fraudulent losses could reach $6.4 billion in 2018.
EMB’s payment gateway allows its merchants to work with the processor of their choice. Options include 1st Pay, Authorize.net, eProcessing Network, NMI, and EMB’s own gateway, and many others. Check Formstack for an informative chart that shows the differences in many of these gateways. While some merchants search for low processing fees, others base decisions based on the countries that the gateway accepts. There are a plethora of search criteria that merchants can use to find the right payment gateways for them. For example, Chargify does not accept mobile payments. This could be an important item for your particular business.
No two businesses are the same, and no two payment gateways are the same. Pick an online payment processor with the tools to accept a variety of payments and protect your business from fraud. EMB offers a multitude of gateways that can be customised to the needs of your business, along with 24/7 access to high-risk merchant account processing.