Starting an e-commerce venture online is not much easy in comparison to establishing brick-and-mortar units in real world. Your exercise begins with finding good e-commerce web development partner and sharing your marketing strategies with the web development company.
E-commerce developers will share their daises with you for selection of technologies, research on your target audience, features and functionality needed for your e-commerce, shopping cart integration, payment gateway integration, in-site search engine integration, and so many aspects related to your e-commerce development.
Besides these, your staff has to draw planning for order management, shipping management, warehouse management, support services, etc. to implement them once the product unveils. Fundamentally, we do all those exercises in order to grab money from our targeted audience. Therefore, we bring visitors on our door once, show our offering through a short or long journey. Finally, excite them to buy our products or services depicted on our e-commerce storefront.
Hence, we reach at our final aim, to grab money, only when our shoppers click or tap the door of payment gateway by unveiling their payment details and finishing checkout process. In short, we can say that our money is where the payment gateway is. Therefore, the importance of the selection of payment gateway can’t be diluted anyhow.
What is payment gateway in fact?
It is a process or programming module that facilitates us to connect our website or say shopping cart with valid merchant account at a processing bank. This way our shoppers can purchase goods/products/services on virtual spaces, without handing over any case, in any physical form.
Which characteristics do you expect from a good payment gateway?
If you want to select the most appropriate payment gateway for your online storefront, some knowledge about your ideal payment gateway is essential and should have some comparative insights for contemporary payment gateways used in your regions or the regions of your targeted audience. Yes, the selection of payment gateways should be regionally, otherwise you will lose faith, favor, and fans of your e-store quickly.
Security:
Secure payment gateway is prime concern of any shopper and that needs multiple measures to be taken at developer side, your side, and your payment gateway service provider side.
- The selection of affordable payment gateway in sense of cheaper registration and transaction fees is at your side
- Proper integration and customizing encryption or security layers according to your bespoken needs is at your developer side
- Offering trustworthy environment and populating brand is at your payment gateway side
- Selecting appropriate payment option and feeding right data in right or say secure manner is at your shopper side
If any shopper direct at your support services and express her desire to buy product instantly, don’t lose opportunity and use virtual terminal services offered by your merchant or payment gateway and fill web form manually to fix the deal or order. This is the best characteristic of any good payment gateway and its provider.
Fraud Prevention Tools:
There are many fraud prevention tools to save you losing money on chargeback services such as Address Verification Services (AVS), CW2 as three or four-digit security number on the back of debit or credit card, and other online detection methods to stop any unusual behavior of the shopper.
Others:
Apart from the aforementioned important characteristics, below are some name of characteristics to know and expect them to include in your payment gateway solutions developed for Bangladeshi shoppers in order to win their loyalty forever.
- Recurring Billing
- eCheck Processing
- Choice of APIs
- Affordability/cost
- NPS integration
- E-wallet
- Easy money toppling
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