Four Things Every Successful Online Business Needs
What do you need?
Payment Gateways is how your business gets paid. It authorizes and processes customers’ transactions – this means from the time they click “buy” until the money appears in your bank account.
What three functions does every payment gateway perform?
Choosing the Right Payment Solution
Yes, there are several payment gateways that can perform the three essential functions: Authorize, Capture, and Settle. However, in order for your business to grow, you’ll need more than just these three basic features. Here are some essential payment gateway capabilities you should look for.
Make sure your business and customers are safe with security and fraud prevention.
PCI-DSS Compliance – Payment Card Industry Data Security Standard (PCI-DSS) is a set of requirements for all businesses that accept, process, store, or transmit credit card information to verify data security. So, as an online merchant, you are ultimately responsible for meeting PCI-DSS standards. With the right payment solution, you’ll be able to address serval compliance issues.
Secure Customer Data Management – This is essential because storing sensitive customer and card information on your own servers can increase security risks. It’s important to find a payment solution that minimizes security risks by storing and managing information securely.
Fraud Prevention – Make sure to get a payment solution that actively monitors each transaction for fraudulent activity and catches related issues before they damage your business.
Offer flexibility for your customers by providing robust payment solutions.
You can do this by:
Offering Several Payment Types – Besides credit and debit cards, provide payment solutions such as e-checks and digital wallet services like Apple Pay, Pay Pal, and Visa Checkout.
Recurring Payments – Consider a solution that makes it easier and less stressful for customers by supporting automated monthly recurring payments.
Automated Payment Updates – Things happen, people move, and credit cards can either expire, get lost or stolen.
So make a smart decision to offer a payment solution that not only monitors your customers’ card information but can alert you when it changes or expires and make automatic updates.
Transaction and Service Fees
The amount you pay to process payments depends on several different factors. Here is a quick overview of the most common fees:
Find A Partner You Can Trust
Choosing the right payment processing can be difficult and stressful because it is one of the most important decisions you’ll make in order to grow your online business. Don’t worry, that is why Matt Payment Processing is here to help you! We’ll provide you with the knowledge needed to make your payment processing decision, recommend solutions, and offer the necessary expertise to answer any of your questions.
We are proud to offer you full disclosure and complete rate transparency. No hidden fees. No sneaky costs – Guaranteed. We hold strong value in:
|What We (don’t) Charge
|Monthly minimum fees
|Long Term Contracts
|Early Termination Penalties/Fees
|See our Promise