These are some of the characteristics that we must not forget when choosing between the different alternatives offered by the market.
Among the decisions that a company must make to achieve success, one of them is for sure the way in which its customers will pay, as the checkout process directly affects the conversion rate, the user experience and, therefore, the possibility that the purchase is repeated favoring customer loyalty to the brand. There are different options in the sector that offer services to make the collection to customers. One of them are the payment gateways, which uniquely connect the merchant with the different channels and methods of payment.
The following are some of the main characteristics that must be taken into account to achieve a fast, secure, personalized payment process that offers more value to both end customers and merchants:
- Security is important for any service, but when it is about making payments, it becomes essential. For this reason, the security certificates that a gateway has, will be one of the differential values to be taken into account in the decision making process. One of the most representative certificates in the sector is PCI DSS, an international security standard created in 2006 by the main card issuers, for the formulation, improvement, storage, dissemination and permanent application of security standards for the protection of account data.
- Not all businesses and sectors of activity are the same, and the payment methods required for each one of them will depend on the channels through which customers can purchase products and services. We are currently in a time of continuous transformation in which omnicanality is increasingly valued by users. Because of that, it is advisable to have a payment gateway that offers solutions for each specific channel (online, physical store, telephone channel, mobile, etc.), with an easy integration and a single management platform.
- Both the sector that business belongs and the profile of its customers will determine the payment methods that best suit them. For more traditional customers, a bank transfer may be the most convenient, but others will want to pay with their mobile, through an app, E-Wallet or even with their original currency if they are in a foreign country. Therefore, it is important to decide what kind of experience you want to offer and, taking into account the current trends that lead us towards maximum customization, the way of payment shouldn’t be left behind. There is an opportunity to personalize the checkout process as much as possible for each customer, offering one method or another depending on their previous purchases, socio-demographic characteristics, ticket amount, etc. For achieving this, it is essential that payment service providers bet on innovation and not be afraid to implement new solutions and payment methods to answer to the possible needs of their customers.
- With the appearance and continuous growth of online commerce and the extension of merchants opening hours in general, it is important to choose a gateway that offers continuous attention and support to its clients, being able to solve in real time any incident that may arise 365 days a year.
- The trajectory in the sector of payment service providers is another factor to take into account, as the experience of a gateway with other businesses belonging to different sectors, allows and favors the advice towards payment solutions that best suit each sector and business.
Choosing the right payment gateway can be crucial to a business strategy. For this reason, Sipay Plus, a Spanish company specialized in the development of innovative payment solutions, points out that «it is necessary to choose a payment gateway that offers added value to the business, not being a simple supplier but a real support able to advise about payments and attend the needs of a market in constant change».