An online payment gateway is essentially the virtual version of the credit card swiping machine you see and use at any regular store. Because online transactions don’t have the face-to-face option of exchanging cash between hands, you can see how absolutely critical it is to have a payment gateway for running any kind of e-commerce business. There are a lot of options for online payment services with different features that businesses can choose from. This is why selecting the right payment gateway can provide a number of critical benefits to your business.
Improve Your Online Payments with a Great Payment Gateway
Every payment gateway has the essential function of processing credit card transactions so that your business can accept virtual payments. Each one of the major online payment services, however, has its own unique features. These characteristics can make a significant difference in a number of key areas of your business operation, including:
Cash Flow: The speed that online payment services bring to your transactions can dramatically improve your business’s cash flow, something that’s vital for small businesses. If you have any sort of recurring billing in your business, your payment gateway can help you streamline and simplify the process.
Fraud Protection: Fraud liability is a major risk of running transactions online. This is especially true for small businesses, which represent 80% of security attacks. A great payment gateway can help you mitigate this risk. Allied Wallet, for example, protects your liability by managing your PCI compliance (we’re certified Level 1 PCI compliant), and comes with a variety of additional security features, such as 128-bit SSL encryption and our proprietary Fraud Scrub tool that is customisable for our customers.
Customer Support Management: The opportunity to have a payment gateway provider handle customer support issues puts your time back in your hands. Small and medium-sized businesses with limited resources can really benefit from this feature. This is because a high-quality payment gateway service will be able to use their expertise to help you reduce your chargeback numbers while ensuring that any customers who run into difficulty checking out get serviced.
Global Reach: One of the best things about selling your products and services online is that your business can extend far beyond the geographic boundaries of your local market. Each one of the online payment services accepts different currencies and operates in different countries. Still, you’ll find that your payment gateway will help you extend your business beyond local customers the vast majority of the time. If you’re serious about going global, Allied Wallet is an ideal choice, supporting 164 currencies in 196 countries. That’s practically the entire world at your business’s fingertips.
To learn more about choosing the ideal online payment services, and to discover if Allied Wallet is the right payment service provider for your business’s needs, contact us today. You’ll learn just how easy it is to implement Allied Wallet and start seeing how the features mentioned above can help support your company’s growth.