Additional Fees for the Services
The transaction processing fees and other fees for the services can affect your profit. As a merchant, you should compare the payment processing fees of the services and then get the one that is required. Here are the different fees or charges that a payment gateway service provider can ask.
Monthly fees
Setup fees
Termination Fees
IRS (Internal Revenue Service) fees
Batch fees
Annual fees
Contract Fees
Customer service fees
PCI (Payment Card Industry) compliance
fees
Statement fees
These are the list of fees that a payment gateway provider can ask. There could be more than what are available in the list above.
Security and Customer Service
When you are Comparing Payment Gateway Provider, you must check the security and customer services provided by the different service providers.
A security breach can affect not only the merchant but also the customer’s money. Make sure you read the terms and conditions of the company. You must check the kind of security they provide. Moreover, check the support provided by the gateway service provider in case of fraud and chargeback.
Allowed Card and Payment Types
Types of cards and payment types should be allowed while accepting the payment to help the merchants to compare Payment Gateway provider. Here is the list of popular Card Service Providers:
VISA
MasterCard
American Express
Discover
JCB
Diner
You must choose the card acceptance according to your customers. Also, compare the Payment Gateway provider depending on the majority of card payments you get.
Customer Friendly
The Payment Gateway should be interactive and easy to use for the customers. That means the customers with or without technical knowledge should be able to use the Payment Services with ease. Check whether the services are available on mobile phones or not. As most users now make their transaction using mobile phones. Moreover, their response and the waiting time for each payment should also be taken into consideration.
If you're looking for merchant services & Payment gateway related information, you can contact us @ +1(888) 622-6875. Also, you can contact via Email - info@merchantstronghold.com
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