Shopping cart integration
It’s important that your payment gateway integrates with your existing shopping cart platforms to create seamless payment processing. There are a wide variety of online shopping cart platforms to choose. Each offer different tools and functionalities depending on your business needs such as store building, payment processing and customer management tools. Some of the best known ones in the market are Shopify and WooCommerce.
Security is the most important consideration for a payment gateway. A secure gateway will keep cardholder payment data safe and secure. One of the ways payment gateways do this is by providing consistent fraud protection and being PCI DSS compliant which stands for Payment Card Industry Data Security Standard. In South Africa payment gateways also have to comply with PASA (Payment Association of South Africa). All websites that accept credit card payments on their website need to be compliant with both.
For additional security, 3D Secure (3DS) validation provides additional security against fraud. This 2-step authentication means no payments can go through without the cardholder authorising it first.
Multiple payment options
There has never been more payment method options available for customers to pay online. Because of this, it’s a good idea that your online store offers customers multiple ways to pay, with the option to choose one they know and trust. Some options your payment gateway can offer are Mastercard and Visa credit card and debit card payments, Masterpass, SnapScan, Zapper, Instant EFT, SCode and Mobicred.
More recently, merchants are now able to accept payments even if they don’t have a website through a payment link. Customers can pay their bill by following the link. The payment is then securely processed online, without the need of a card machine, or a website.
Most online shoppers use their mobile phones to do their online shopping, according to the PayFast Ecommerce Performance Index, followed by desktop and tablet. This means your customers are most likely to be using their phones. It’s important that your payment gateway be easy to navigate for mobile users too.
Reports and analytics
Some of the data you can expect from payment gateway software are a view of transactions and day-to-day management of inventory and sales. You should also be able to access a reconciliation report.