Many businesses find payment processing arduous and ineffective for their companies and customers. Thankfully, there are payment processing platforms that make the process much easier. Companies like BlueSnap are making a difference in the way companies process payments. With this information, business owners will understand the factors they should consider when looking for a payment processing platform.
Factors to Consider When Choosing a Payment Platform
Learning about the factors to consider when choosing a payment platform will help companies decide effectively. With the right platform options, companies will find it less challenging to select a platform that will allow them to process customers’ payments. Businesses should consider the following factors.
- Scalability is essential when choosing a payment platform. The platform should offer growth potential that increases its offerings as companies grow. If the platform does not deliver scalability, companies should look elsewhere.
- Companies should also ensure they select a platform that offers the payment flow needed for their company. Three main options are available, including secure payment gateways, redirect or iFrame, and escrow systems.
- Business owners should also ensure the payment processing platform they choose is easily integrated into their websites. Some platforms offer setup and installation services. If a company owner does not have the ability to handle the installation and setup, they should hire a professional.
- Security is one of the most important factors when considering a payment platform. Without a high level of security, customers are less likely to feel confident using the payment processor. Ensure the platform is certified for PCI and DSS.
- What are the fees and service agreements? These are two factors to consider when choosing a platform. Pricing is often based on the types of payment transactions. Checking the fee structure will help business owners avoid unwanted surprises when they are billed.
- Ensuring the platform offers a seamless approach to payment processing is essential. Although some hiccups are bound to occur from time to time, problems should not be the norm. For instance, customers should not have to create an account in the process or they are likely to abandon their purchases.
- The platform should also be available to use on many devices, including smartphones, laptops, and tablets. The checkout experience should be adaptable to the needs of the customer.
- Payment processing platforms should also offer multiple features that make them intuitive for companies and customers. Learn if the platform supports invoicing, email reminders, and chargebacks.
Find More Information
Company owners should research carefully to ensure they choose wisely. The payment processing platform is one of the most essential components of any retailer’s website.
When choosing a platform, ensure the integration process is straightforward and as stress-free as possible. The platform should offer a merchant account to acquire funds. The platform should also offer recurring billing options for customers.
Those who need one of these platforms need to learn about their options and compare them. Narrow the choices down to three and then conduct additional research. With careful analysis, companies will find it easier to choose a platform.