Criteria to Look Out For Payment Gateways
- Payment Method
- Secure Payment Processing
- Multi-Currency Support
- Customer Support
1) Payment MethodIntegrating payment gateways that support multiple payment methods allows customers to choose their preferred method from credit/debit cards, online banking, e-wallets, and buy now, pay later, to complete transactions, thereby improving customer satisfaction.
2) FeesBusinesses should evaluate and find the most cost-effective solution among the various fees, including setup fees, annual fees and transaction fees.
3) Secure Payment ProcessingBusinesses should choose a payment gateway that offers PCI-DSS compliance and fraud prevention measures, ensuring all transactions are protected and safeguarded.
4) ReliabilityThe payment gateway must be reliable and efficiently processing a high transaction volume without encountering any issues.
5) Multi-Currency SupportFor global expansion, opt for a payment gateway that enables multi-currency transactions to cater to customers worldwide.
6) Customer SupportEnsure the support team is easily accessible, providing necessary technical assistance to businesses when required.
Considering these factors can help merchants choose the right payment gateway provider for their business in Malaysia.
18 Oct 2023