Being into business, you need to sell things. When you sell things, money is exchanged and to accept payments, you need to have a payment gateway that enables you to:
>> Accept payments easily
>> Keep the account details of your customers secure
>> Gain trust of your customers
A payment gateway helps you to make money. But you need to make extra efforts to keep up with the trusted names of e-commerce, such as e-bay and Amazon. Being a beginner makes it pretty difficult to divert traffic to your site. More than that, it is challenging to gain trust of visitors.
However, implementation of secure payment gateway can simplify the process for you. It is often seen that the sites with popular and secure payment gateways are deemed dependable by the users and they do not hesitate relying on such websites.
When talking about the cost incurred in integrating a payment gateway, it has its own set, including:
Set up fee: To initiate the service of payment gateway, you are required to create an account at first place for which one time fee is charged. Since all payment gateway providers do not levy these charges, it is better to look for someone who eliminates this cost.
Annual cost: It entails paying for the services, support and features offered by a payment gateway on annual basis.
Transaction cost: Each time a transaction is processed to the merchant’s bank, stipulated amount of transaction cost is charged.
Choose a right payment gateway in order to prevent its need from hindering you to set up your online business. Take into account your budget while decision making as once you have sufficient money in your hand, you can always upgrade in near future.