As a middleman between you and your customer/donor, a payment gateway securely performs various complicated operations in the background. Here are the top 20 (10+10) reasons why do I need a payment gateway.
To understand why you need an online payment processor, just imagine you are
running a nonprofit website or an eCommerce business. You’ll have to perform the following jobs to get paid:
Sounds complicated? Indeed, it is. But the world’s top payment gateways do all this and more to keep the ecosystem of online payments rolling smoothly. When a payment gateway does its magic, a cross-border online payment processing appears to be the matter of a few clicks to get guaranteed payments. Here are more reasons why do I need a payment gateway.
Using a payment gateway is a common method among eCommerce businesses and charitable organizations.
While it may take several hours or days for the funds to reach your account (in the acquirer bank), how will you reach (recontact) your customer if the payment is finally declined? Mostly, the online funds processing platforms validate customer’s financial data and perform fraud checks to guarantee payments.
Through multilayer fraud checks, a payment gateway not only prevents any illegitimate transactions but also maximizes the security of your and your customer’s sensitive financial data.
Customers want to pay via a payment method they are already using. That’s why a good payment gateway always offers locally available payment options to the clients across the area it serves. In this way, each buyer gets their preferred payment option/s to transfer funds.
Usually, an efficient payment processing system involves a sophisticated mechanism to develop a two-way reporting with you and your customer. And, as a merchant, you often get the ability to customize reporting.
Just like their demand for a favorite payment method, the customers prefer paying in their local currency. If their local currency is not supported on the payment gateway integrated into your site, the buyers would switch to another platform the next time they shop. So, depending on your target audience, always choose a payment gateway that offers multiple currencies along with an option of the currency switcher/selector.
As a customer feeds their payment details into your online platform, the integrated payment gateway is alerted to verify and validate customer’s data. In this way, the funds’ processor can detect expired cards, closed accounts, or insufficient funds available in the account.
A payment processor squeezes the complicated online payments procedure to just a few clicks for the customers. All the complex operations are kept in the background, including:
Sometimes, the payment gateway platforms also offer shopping cart integration into
your website. In this way, you can offer fast and convenient cart management and checkout facilities to your customers.
Depending on your business or nonprofit’s requirements and the target audience, you can choose and integrate any of the 15+ best payment gateway extensions into your website using a compatible theme like Lifeline2 nonprofit WordPress theme, Deeds church WordPress theme, Actavista political WordPress theme, Deeds2 church elementor WordPress theme, Lifeline charity WordPress theme.
Call it an interface between your website and the acquiring bank or a middleman between you and your client, a payment gateway has become something indispensable for any business or charity that needs to process only transactions.
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