At some point, any small business owner that wants to set up and manage their own online payments would have to select a payment gateway. However, many small business owners do not know what a payment gateway is or why they need one. It can be complicated and overwhelming when looking at the number of solutions available online and a small business can find it difficult to determine the most important factors to look out for when selecting a payment gateway solution.
What is a Payment Gateway?
A payment gateway is an e-commerce service that processes, authenticates, and accepts or declines credit card transactions on a merchant’s behalf through secure Internet connection.
When making a decision about which payment gateway to use, some questions to guide you in the decision making process include:
How much does the service cost?
How secure is the service? Is the payment gateway available for online store owners in Australia?
What types of payments will be accepted?
Does the payment gateway require a merchant account?
Does the gateway offer software integration with accounting program?
Is the gateway service easy for customers to use?
No two payment gateways are the same, and each one comes with its own set of pros and cons. Features will vary depending on the type of business and location.
Chargebee have developed a comprehensive tool to help small business compare and choose the best payment gateway for online business, specific to location.
For more information: Chargebee – Payment Gateway Providers in Australia