Updated on October 30, 2017
A payment gateway is vital to running a business online. Receiving that first payment is exciting especially if you have the best payment gateway in place.
Payment gateways or processors help transmit data between the merchant to the consumer’s bank and card. It could be overwhelming to choose the right payment gateway for your business but this is an important step to make so your business can take off. Once transactions are accepted by the retailers it will be passed on to a payment processor for completion. There are different payment gateways that offer varied capabilities depending on user needs. This has to work in alignment with your present and future objectives.
Top Considerations When Choosing A Payment Gateway
- Compatible with other software.
Your payment gateway should work seamlessly and integrate with your ecommerce platform.
- Meet PCI requirements.
Payment processors store vital information like credit card data while under process. In this light, PCI compliance requirements must be met and this is one requirement you should check before using a payment gateway to ensure that transfer or exchange of information is made in a secure platform.
- Fraud protection in place.
Choose a payment gateway that allows you transact with confidence and that can help prevent fraud.
Stripe is the best payment gateway for Canadian businesses. This new kid on the block is becoming a favorite for many online businesses. It has a simple approach on rates. The rates vary from one country to another but it’s always a flat rate. So that means you don’t have to worry about additional fees. Refunds are completely free with Stripe.
Stripe is also a game-changer in terms of API. Stripe API is well-documented and seamless which prompted PayPal to take it a notch higher in order to keep up with the tides. They are said to be developer-focused and provide client libraries that are available in multiple languages. Stripe is also PCI-compliant and puts tons of value on security. Stripe is now a PCI Service Provider Level 1.
In line with customer service, Stripe strives to provide open channels for email support. They also have this IRC channels wherein you can get in touch and chat with the developers themselves and get real live help from engineers. This is very important for a payment gateway because you would want them to be reachable and responsive especially when you encounter problems along the way and would want an expert to iron things out.
Stripe doesn’t have phone support yet but I’m pretty sure it’s in the works. Customer service with Stripe has so far been excellent and pleasant. This should be a priority for any payment gateway especially because the platform is dealing with money matters.
With Stripe, the sign-up or registration process is fast and won’t require too much information from the user. The main selling point of Stripe is it’s very simple and easy to use – a no-brainer. Everything is pretty much integrated or built-in. You can also create your payment forms. Their dashboard is clean and simple which makes it very manageable.