How to choose the best payment solution for your business

To choose the best payment solution for your business, you must first take stock of all the stakeholders. In every payment process, three parties are involv: the merchant, the customer and the technologies that connect them. One of the technologies is the payment gateway, this is a service that authorizes and processes payments in physical and online stores. A gateway serves as a portal to facilitate the flow of transactions between customers and merchants. The chosen payment solution must therefore meet the nes of both your customers and your business. The moment of payment is a crucial step in the customer journey, before choosing the ideal solution for your business. It is advisable to take into account the following 7 factors: The cost. Payment gateway costs can be bas on the type of transactions performe(online or point-of-sale), and even on the volume of transactions.

The locations covered and the means of payment accept

Some payment solution providers may New Zealand Phone Number List charge a fee to set up an account or a fee to set up their solutions plus a per-transaction fee, while others only charge a per-transaction fee. When choosing your gateway, you want to research and assess the overall cost to your business and make sure there are no hidden fees. Here are the two most popular types of pricing: Flat rate: you pay a fix percentage for all trading volume, regardless of the actual costs. All costs are includ in this single rate. For example, you are charg at a rate of 2.5% of the transaction amount + €0.20 per transaction. During a sale of €100, the fees to be paid per transaction are estimat at €2. Interchange + fix rate: in this case, your payment provider charges you fixd costs in addition to interchange.

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Some advantages of the Silkpay payment solution

During a sale of €100, the fees to be paid per transaction are estimated at €2.6. Whether you have physical stores around the world DT Leads or an e-commerce site with international customers, payment solution providers must offer several functionalities, depending on your needs. For example, if you need to market your products and services across the world, your payment gateway should provide a global solution, accept the most popular payment methods in your target markets, and most importantly support multiple currencies. In e-commerce, according to a study by YouGov, 50% of country. Collection types: Payment gateways also impact your efficiency. Make sure you know if your service provider supports all the types of collection that you want to integrate into your physical store or e-commerce (TPE, Paybylink, QR code, integration into the cash register software).

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