A payment gateway allows your online store to accept credit card payments from customers. Payment gateways cost money and charge per transactions, and there are a lot of them to choose from. Picking the right gateway can help save you money and keep your business running smoothly. Once you've chosen your payment gateway, integrating it into your online store software is a snap.
Part 1. Choosing a Payment Gateway
Understand what the gateway does. The payment gateway processes the customer's credit card information by sending the data to the gateway's web server, which then makes the sale and sends the confirmation back to the website. You can quickly integrate your gateway into your website's shopping cart software.
- Check with your web host. Your web host or online shop software provider may provide payment gateway services that you can quickly implement on your suite. Check your website's control panel or your online shop's admin page to see if there are payment gateway options.
- Browse your options. There are a lot of different payment gateways out there, and they can get a bit confusing. Before you start looking, check which gateways your shopping cart software supports. Your shopping cart software's support site should have a list of compatible payment gateways. Some of the more widely supported gateways include: PayPal, Payza, Perfect Money, Egopay, SecurePay, Authorize.net, Verify, Braintree, SecurePay etc.
- Pay attention to fees and conditions. The payment gateway will typically charge you a one-time setup fee (some don't charge for setup and or monthly fee), a monthly fee, and then charge a small fee for each transaction processed. Compare rates to find the service that meets your needs the best.
- Pick between an external or a direct gateway. External gateways (also known as "redirect") send your customers to another website to process the payment. Direct gateways (also known as "transparent") do the processing within your store, keeping the customer on your site. If possible, choose a direct gateway, as they look more professional.
- Sign up for a merchant account. You will need to sign up for a merchant account, which you then link to your payment gateway. This will allow you to receive payments from the customer. Merchant accounts will typically charge you per transaction as well.
- Sign up for your chosen payment gateway. Once you sign up for your gateway, you will be provided the necessary information that you will need to provide to your online store software. This could be a login name and password, or it could be an ID and an authorization file.