How to choose a payment gateway for a business? 

Maximum comfort and safety, the ability to remotely arrange installments and pay literally with two clicks of a button – all these are only basic advantages for customers using payment systems of online stores. That’s why before creating a new business scheme every entrepreneur thinks about payment gateway development. 

For site owners, the advantages are great. Without the ability to pay online, you will lose many potential buyers who will go to competitors. Moreover, Google will refuse to show your ads, at least in the “Purchases” section, where the warmest audience is. If you add to this the simplification of accounting, there will be no reason to refuse integration at all!

Ways of payment system usage 

You need to know that you can connect the selected payment system, by Binariks or any other company, directly to the site or use the services of aggregators. The second option is cheaper and more versatile. It allows you to simultaneously accept payment by different cards, terminals and even mobile numbers, but only as long as your company belongs to small businesses. With the increase in the number of transactions, the commission will also increase, and the quality of support for aggregators is much worse than that of direct suppliers.

In addition, if customer security and Google promotion are important to you, it is better to immediately choose one service that will be convenient for most customers and in the future expand the functionality of the site with one or two more ways of online payments.

How to understand that the payment system suits your business 

There is no doubt that you should pay attention to several aspects before choosing the payment system or start payment gateway development with Binariks. Amount essential aspects are:

• Target audience;
• Expenses;
• Difficulty;
• Speed.

The main task of payment systems is to facilitate payment for buyers. The geography and preferences of customers are the most important factor. Before choosing a payment system, it is worth conducting a marketing research. It’s not  a secret that, for example, in the United States, Amazon Payments is now becoming popular, without a strong reference to banks. Central Asia’s lifestyle is no less important. Regardless of the region of the world, it may be convenient for your customers to use the classic PayPal or Masterpass – another e-wallet, an ideal solution for those who have many cards from different banks.

Carrying out various operations will cost a fixed percentage or may be free of charge. Tariffs of all services are constantly changing, but are always indicated on official websites, and before choosing one of them, it is worth comparing the costs.

Almost all payment services have ready-made modules for connecting to popular CMS and APIs for more complex integrations. Many of the service providers even offer the help of their specialists to connect online payment systems. This applies only to large services – the fewer customers your provider has, the more likely it is to face difficulties at the integration stage.

It’s good when your customers can pay for the order “in two clicks”, but it’s even better if you can withdraw these funds just as quickly. In the case of national services, they usually have minimal delays, but in some countries it can be difficult to withdraw money from PayPal accounts and some other e-wallets. So, countries and regions also have their own nuances that are worth paying attention to when choosing a payment system.

What are the main features of Payment gateways?

Payment gateways are universal intermediaries, which means that these services immediately redirect the transaction to the side of your bank. That’s why payment gateway development is a really popular field in the IT market. 

It’s important to mention that gateways are not tied to banks and wallets. They can be installed not only on the site, but also on the terminal or used to pay by phone. All data is encrypted to the highest industry standards. The higher your turnover, the lower the commission.

However, the very connection of the gateway and coordination of work with different services can be a bit longer than the integration of only one option. In addition to the commission, you will have to pay for subscribing to services.

Today, payment gateways are a great business tool.  Most customers prefer to pay for purchases on the Internet through a payment gateway.

How do Payment systems for websites work? 

Anyway you have to be aware of all procedures of payment. As you see, after your client has chosen to pay online, the unique number of his/her order is redirected to the payment system, and the client goes to the service website.

On the newly opened secure page, your client can select a payment method and enter the appropriate data, for example, card number, expiration date of the cvv code.

The service checks the information without disclosing it to anyone and tries to conduct a transaction by informing the server of the result.

In any case, the client returns to your site and receives a message about a successful or rejected transaction, just like you.

The principle of transactionality ensures that either all actions will be performed and the funds will be transferred from the client’s account to yours or, in case of any failure, will remain with him, and the transaction will not be completed.

What do an entrepreneur need to know about requirements for sites?

Payment systems are complex technological solutions, one of the tasks of which is to ensure the security of the transaction for both you and your customers. Therefore, in order to connect one of them, your online store must meet the list of requirements. First of all, they are technical:

• the hosting on which the store is located must have a static IP address;
• the domain name of the site should be only of the second level with the secure https protocol;
• Detailed information about the company – legal and physical address, phone, e-mail;
• Terms of payment and delivery;

Prices in national currency.

After connecting the payment system, you will also need to place its logo on the site.