What is the main function of a payment gateway? You might be surprised but it is ‘communication’. A payment gateway helps merchants (online web sites and e-commerce companies) to communicate with issuing and acquiring banks. A payment gateway transmits credit card data between merchants and banks in a secure way protecting the information from fraudsters.
But today it is not enough just to choose a secure solution. So what are the other things which you need to consider while selecting a payment processing platform for your company? There are ten questions which you need to find answers to.
1. When should the solution be ready to process payments for you?
2. What is your payment gateway budget?
3. When do you want to receive your money?
4. Do you need to process international payments?
5. What fraud protection mechanisms and tools should be used?
6. How much support is provided?
7. What payment types can be accepted?
8. Are recurring payments supported within the system?
9. Are online payment pages hosted or non-hosted?
10. Is it difficult to integrate a gateway with the software you are currently using?
Those who are looking for a payment processing solution need to consider UniPay Payment Management Platform. UniPay Gateway is integrated with platforms (banks, processors, other gateways, etc.) all around the globe. It supports 3D Secure, EMV, P2PE and many other fraud protection tools. It will provide you with the opportunity to process both card payments (credit, debit and gift cards) and ACH transactions. You will also have the opportunity to accept recurring payments. Visit the web site to find out more about this payment processing solution. (Additional information on payment gateway selection is available in the article here).