How to Choose a Payment Processor

How to Choose a Payment Processor

Whether you are an ecommerce platform owner or just maintaining your online presence, you want to offer your customers a safe, quick, and easy-to-use payment system. The chosen payment solution has to satisfy both the needs of your customers and your business.

The world of payment processing is huge and growing continually as new technologies and payment avenues expand. No longer are customers confined to just paying cash or credit. From using debit cards to mobile pay apps, customers are defining their purchasing preferences not only by the products that your store sells, but also the type of payments you accept.

What is a payment gateway? Why you need it?

A payment processing functionality allows businesses to accept credit cards or any other payment form of payment online. It connects the merchants with the bank’s processing platform.
Without payment gateway integration, the customers won’t be able to pay for the services or products they are buying online. It is necessary to accept electronic payments for any business niche.
Make Sure It’s Compatible with Other Software
Your payment processor should always work in perfect harmony with your online retail platform, in order to be successful. It should be compatible with what you are currently using to sell your products, with developer-friendly options that make this integration simple and painless.
MYFUNDBOX Online payment system provides the requisite expertise and resources to handle data and transaction processing activities in a time-bound, structured and cost-effective manner.

Offer Multiple Payment Options

The more payment options you offer, the more likely it is that your customers will be able to use your ecommerce services. Especially because some may be suspicious of using their credit card online, offering multiple payment types will help you see an increase in customers completing their purchases. Some of these options include credit card payments, direct bank transfers, or intermediaries like PayPal.
MYFUNDBOX Online Payments allows you to choose your own payment methods for your customers by providing more than 15 payment option such as Paypal , Stripe (Giropay,Card collection,IdealSofort,EPS,Bancontact,P24 ,SEPA), Google Pay,Amazon,Apple Pay etc to keeps the customer payment experience super-simple and super-intuitive. You can select best Ecommerce platform will let your online shop sell online without limitations

Data Security

One of the major concerns of every business, regardless of size and industry, is the security of its data. Data breaches and other cybercrimes can devastate a company’s revenue, customer loyalty and brand positioning.
MYFUNDBOX Online Payment system works with financial partners like Stripe a leading payment solution to deliver a high-level security and compliance to your customers.

Data Portability

What happens to the ownership of your customer’s data if you decide to leave your gateway? This depends on whether your gateway is hosted or integrated. An integrated payment gateway connects to your online store via the gateway’s provided API. The most significant benefit of this is that customers never have to leave your e-commerce site to input payment information and submit orders.
If you’re using a hosted gateway, your customers will be redirected to the payment processor’s platform to input their payment information. This type of gateway is excellent for a new store and easy to set up, but conversion rates might drop if customers aren’t familiar with the processor.
MYFUNDBOX has a simple process to complete the checkout in a single page with multiple products within a minute.

The Customer Experience

Customers should find the purchasing process from your online store or service convenient and expect to offer different payment methods with your software. If it requires too much time, too many steps, or too much personal information, your customer may decide not to buy from you and go looking elsewhere. Always look for a payment gateway that lets your store accept all major credit and debit cards and which is integrated with all major shopping carts.

MYFUNDBOX Online Payments with its stripe partnership and wide variety of built-in integrations with leading ecommerce platform provides secure payment platform and provides you a Intuitive UI to fulfill your business needs which will helps you to grow your business in better way.

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