Updated time: Sep 8, 2020 , 10:01 (UTC+03:00)
Did you ever wonder what challenges small business and startup owners might face when joining in the digital business world? Business working these days has made a huge impact in changing from paper records to online business data.
For that reason, online business services such as online payment gateway were born to give out solutions not only for saving the money and time for small businesses and startups but also create a seamless online experience for customers.
Small businesses and startups have their unique difficulties in finding the best payment gateway to pay a large number of vendors. It is a tough challenge for a startup to build the whole system from paying the vendors to managing risks and securing the data. Integrating, managing multiple payment methods, and managing different bank accounts of vendors are the hard questions that business owners have to find out.
Some popular payment gateways were quite good and got the job done. However, there are better choices for small businesses and startups to handle the payment for the marketplace. These payment gateways solve all difficulties, provide an easy way to manage all challenges of the marketplace like paying vendors, integrating, and compatibility.
So how to choose the best payment gateway for small business and startup is a tough question for every business owner. This question leads to a discussion: What factors should business owners consider to choose the best payment gateway for business?
The more payment methods customers have, the more likely they are to finish the checkout process. Some research shows that approximately 50% of customers would cancel the checkout step because of a lack of suitable payment methods. In addition, integrating with a payment gateway which provides differences in payment processes would help the business to convert transactions effectively.
So we can conclude that for a small business or startup, a good payment gateway would lead to an increased conversion rate to boost the revenue.
The difference in currencies is always an issue for small or startup companies. Payment gateway (i.g. PayCEC, WePay) supports major global currencies like EUR/USD/GBP/SGD/AUD/NZD would be an ideal choice for not only small and startup businesses but also for international corporations.
Variety in currencies enhances the chance of increasing customer’s purchasing decisions because it makes the process simpler and easier.
As we all know, small businesses or startups don’t have enough funds to invest in a personal checkout platform. Using an online payment gateway is the option not only to save money and time but also to help businesses to increase the successful transaction process.
In some online payment platforms, users might have to pay the transaction fees, so be careful when integrating it in order not to take unnecessary charge fees.
Also read: Payment gateway fees
Security protection is absolutely the top priority for data transactions, especially for small and startup businesses. Sensitive information, such as customer’s credit numbers or customer’s personal data needs to be protected in order to maintain the relationship with customers. High-quality security systems not only create a seamless online transaction experience but also build up the trust inside customers.
A high-quality fraud protection system needs to include these following features: 3-D Secure, Tokenization, Real-time risk management, Fully PCI DSS. An online payment gateway called PayCEC is the top among all not only for small and startup businesses but also for professionals business.
For details information please visit: https://www.paycec.com/products-and-services
The business which can create a seamless experience for customers will hold the key to success. The online payment gateway for business needs to support all smart devices, especially those major ones like mobile phones, tablets or laptops. The objective here is to bring an experience that payment can be checked out anytime and anywhere.
As an obvious fact, significant thought is determined by how well the payment gateway will integrate with your present website - both from a technical and design perspective. If the gateway took too difficult tricks to maximize with the current system, you might have to think twice.
There are some special payment gateways (i.g. PayCEC, Stripe) which offer a useful tool to customize the checkout page matches with your brand identity. Remember, don’t make your customers’ purchasing experiences affected by confusing factors like different colors or logos.
We highly recommend PayCEC payment gateway for small businesses and startups with its special features from integration, quick and simple payment process, customization, risk management to high-quality fraud protection systems (Tokenization, 3-D Secure and Fully PCI DSS).
Also read: Online Payment Gateway