5 Merchants' Guide When Choosing A Payment Gateway Company

<p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2"><em>by Michelle Newman</em></font></font></p> <p style="margin-bottom: 0in"><br /> </p> <p style="margin-bottom: 0in"><br /> </p> <p style="margin-bottom: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font face="Arial, sans-serif"><font size="2">Let&#39;s face it. Businesses today need payment gateway service. It plays a vital role in the flow of information from one transit point to another. It also facilitates the rapid transfer of funds. Businesses that accept credit card payments could not thrive long without payment gateway. Competition demands that you stay up to date with the latest trends of the day. And getting a good payment gateway service ranks among the top trends in the business world. It gives you a clear advantage over the competition It is therefore imperative that your store subscribe to this service. </font></font> </p> <p style="margin-bottom: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font face="Arial, sans-serif"><font size="2">But don&#39;t get me wrong. Just because you need this service does not mean that you can just settle with any payment gateway company. You have to exercise some degree of care in selecting one. </font></font> </p> <p style="margin-bottom: 0in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <font face="Arial, sans-serif"><font size="2">Here are some merchants&#39; guide when choosing a payment gateway company:</font></font></p> <p style="margin-bottom: 0in"><br /> </p> <p style="margin-bottom: 0in"><br /> </p> <ol><li><p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">COMPANY PROFILE</font></font></p> <p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">Start by looking into the company&#39;s profile. How long has it been in business? Check the legitimacy of its credentials through the Better Business Bureau. If it is listed in there, chances are it&#39;s legitimate. While you are at the BBB, also find out if your prospective payment gateway company is stable and well-funded. Above all, ask their helpdesk for a listing of their client&egrave;le. A good payment gateway company is always eager to share with you the names of their satisfied customers. On the hand, be wary of those companies who will not give you the list on the ground of confidentiality. </font></font> </p> </li><li><p style="margin-bottom: 0in"> <font face="Arial, sans-serif"><font size="2">PROCESSING COSTS AND OTHER FEES</font></font></p> <p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">Before deciding on a particular payment gateway company, make a comparison of their respective processing costs. This is an area where they differ. Some companies charge less. Others charge more. And be very wary of hidden charges, though. Some unscrupulous operators will dump the fees in one lump sum so they can insert some unnecessary costs. Read the fine print of the contract before signing it. As much as possible, find a lawyer and consult with him.</font></font></p> </li><li><p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">SETUP TIME</font></font></p> <p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">This is another factor you should not miss in your selection of a payment gateway company. Better set this issue up front before anything else. Some companies can finish the complete service setup in a month&#39;s time. Others take much less. If you have already an established store, you should make sure you get the service in the soonest time possible. </font></font> </p> </li><li><p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">EQUIPMENT</font></font></p> <p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">Payment gateway service oftentimes entails that some equipment be installed in your store or place of business. Since you are paying premium payment gateway fees, you expect to get the best proprietary machines. Sadly, this is not often the case. Some companies bungle on this one. Insist only for the brand new payment gateway devices and machines for your business. </font></font> </p> </li><li><p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">EXTRA SERVICES</font></font></p> <p style="margin-bottom: 0in"><font face="Arial, sans-serif"><font size="2">Find out if your payment gateway company offer extra services for the package deal you sign with them. Things like technical support assistance, contact number, manpower to handle mechanical breakdowns, processing updates,etc.. As you well know, things does not always go as expected and you better make sure you get the best kind of help from them when things go wrong. </font></font> </p> </li></ol> <p style="margin-bottom: 0in"><br /> </p> <p style="margin-bottom: 0in"> <font face="Arial, sans-serif"><font size="2"><em>( Michelle Newman is the CEO of a leading Fortune 500 company based in San Francisco. She lectures on various business topics like marketing, competitive business strategies, and management-related issues. She does some business writings on her spare time.)</em></font></font></p><p style="margin-bottom: 0in">&nbsp;</p><p style="margin-bottom: 0in">&nbsp;</p><p style="margin-bottom: 0in"> <a href="http://www.onlywire.com/submit?u=http://www.securepaymentgateways.com/5_merchants_guide_when_choosing_a_payment_gateway_company.html;t=payment%20gateway;tags=payment%20gateway" target="_blank" title="Add this Article to Onlywire"><img src="http://www.onlywire.com/i/onlywire.ico" alt="" />Add to Onlywire!</a></p> <p style="margin-bottom: 0in">&nbsp;</p>