Tips for Selecting a Payment Platform

When you have an online business, you want your customers to have a positive shopping experience, so they return and recommend you to others. To create a great experience, you need more than an eye-catching and easy-to-navigate site, an interesting product, and strong after-sales service.  You also need a reliable, fast, and intuitive payment platform. 

In this article, I would like to tell you what a payment platform or gateway is, what attributes you should consider, which are the most recognized and how you can choose the right one for your online store. 

A payment platform, or payment gateway, is a service that is installed in an online store and connects the customer's banking system with your store’s. It allows there to be a link between both banking systems and generates transactions when a product is purchased. 

What to Look for in a Payment Platform 

If you have not yet decided on a payment gateway to use with your ecommerce efforts, you should take into account the following attributes that are highly valued by customers when making online purchases: 

1. Trust: It's essential that the payment platform you install in your online store generates trust among customers. One tip to do so is to look for platforms that are recognized in the market. This way users will feel confident in making their payments.
2. Reach: When you are going to choose the payment gateway, you must be sure that it will have sufficient reach for your clients. This means offering different payment options such as: credit cards, debit cards, QR codes, cash transfers, or deposits. The more choices you provide, the easier it is for them to purchase and the more likely they are to purchase.
3. Support: It is important to consider the support the payment vendor offers when selecting your platform. You must be sure that the provider you choose can sufficiently support both you as an online business and your customers. This guarantees that, if a payment error occurs, it can be resolved easily and quickly.
4. Security: Confirm that the payment gateway you choose has high security standards and that under no circumstances will the data of your company and your clients be used or stolen. This is critical to preventing fraud. 

Don’t Be Afraid to Ask for Help 

Today the most recognized payment gateways in the market are: PayPal, PSE, Mercado Pago, Stripe and PayU. Each one offers different benefits and to know them in depth or make the right decision. If you’re not confident in which payment gateway is the right one for your business, consider talking with an expert to assess what you need and which platforms would fulfill those needs. 

Adage’s extensive ecommerce and software solution experience uniquely equips us to work with you on both selecting and implementing a payment platform. Our talented teams are dedicated to ensuring you are using the right vendors to move your business forward.