It doesn’t matter if you run an eCommerce company, own a successful restaurant chain, or are a startup founder: how you get paid is important.
With so many businesses still relying on outdated and slow payment methods, having a high-risk payment gatewaythat prioritizes security, efficiency, and affordability over all else can help you save money and stay ahead of the competition.
Always remember that customers want convenience
Consumers seek convenience everywhere they shop. It has been well provided through online channels:
- Consumers must trek along the passage in stores to find the product they want, whereas online, a product is simply a click away.
- In stores, it can be difficult to find someone to help; online, instant chat tools and user feedback can often help fill in the gaps.
- You have no idea when an item will become available if it is out of stock at the store. You can get a back-in-stock date or be referred to similar products that may match your needs if you shop online.
How to establish a safe Payment Gateway Solution?
There are several approaches you can take when developing a secure online payment gateway. To create a custom gateway, you can hire an outside developer or use your website, or development team. You can also use third-party software.
It is critical to set up a secure gateway. You’re also implementing automated processes, which will save time on manual processing, especially as your business grows and handles more transactions.
The more payment methods you include in your payment portal, the larger your audience will be and the easier it will be for your customers to send you money.
Amald provides a variety of options for online businesses, including customizable checkouts, subscription management, and recurring payment features. Amald accepts all major credit cards, mobile payment apps, wallets, and other payment methods.
Make credit and debit card payments easier.
Although this may change as mobile payments become more common, using debit/credit cards is still the most common way for people to pay for products and services online.
Accepting card payments is simple with established payment providers such as PayPal or Stripe. These will accept the most popular credit cards in the world, including Visa, MasterCard, and American Express.
Three signs that your business has outgrown your payment processor
1. Your merchant processing provider provides limited support
Some merchant processing providers are not well suited to scaling your business. This could be due to a variety of factors, one of which is a lack of resources and support they can provide to your growing company.
The credit card processing industry hasn’t always been known for its excellent customer service. However, 1800 numbers, generic online chats where you don’t (or can’t) get access to a real person, or spending hours on hold simply don’t cut it in today’s fast-paced work environment. Putting up with such roadblocks may have a negative impact on your bottom line.
Payment processing should be optimized, which includes services built into the product you’re paying for, such as chargeback management services.
2. Your merchant processing provider has raised fees while not providing new services.
Hidden fees can be fatal to a small business. As a result, when you notice-fee structures working against you with no visible benefits, it’s a clear sign that you’ve outgrown your merchant processing provider.
This is especially true for fast-growing businesses in high-risk industries, such as the CBD industry, or for models deemed risky, such as membership subscriptions. Processors frequently charge extra or tack-on fees to cover themselves with no added value. You may not realize how much this affects you until sales begin to increase.
This, thankfully, does not have to be the case.
Indeed, with Amald, you can legally incorporate merchant fees into the final price your customers see. This could save you thousands of dollars in processing fees each year.
3. Your merchant processing provider makes use of outdated technology
Outdated legacy technologies can be a major impediment to your company’s ability to grow and spin around. If you’ve been putting off adding new products, services, or components to your business because you’re afraid your payment processor won’t be able to handle it (or you’ll be penalized for changing the terms you initially agreed on), it’s time to think about what’s next.
Many of today’s alternative payment methods, such as PayPal, Stripe, and Apple Pay, are incompatible with older technologies. Many customers, particularly in retail and POS settings, prefer secure contactless terminals that make payment simple.
Obsolete technology may also pose a serious security risk, jeopardizing your company’s reliability.
So, have you outgrown your merchant processor? Apply now to see if Amald can help you save money and improve your customer experience.
What are the benefits of using Online Payment Gateway solutions?
Here are some of the benefits of payment processing software for your business.
1. Ease of use
The most important factor that influences the conversion rate is flexibility. The more complex the customer experience while purchasing on an e-commerce website, the more likely it is that they will abandon their purchase.
Most payments can be transferred instantly between buyers and sellers thanks to payment processors. Transfers to and from bank accounts, on the other hand, can take up to 24 hours or more.
Many payment processors are globally recognized brands. Customers are more likely to trust your payment system if they already use payment software.
Payment processing companies provide an additional layer of security to online transactions.
5. Maintaining records
With payment processors, you can manage your contacts, recurring payments, and other account activity from a desktop or mobile device.
Amald is one of the most reputable and well-known payment processing companies. We’ll give you all the tools you need to integrate payments into your website and set up a secure Payment Gateway for visitors. Moreover, the platform’s extensive coverage makes it a good choice for international businesses.