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Choosing a service for processing payments online

Do you have an online shop? Are you creating an eCommerce website for your business? Do you already have a payment gateway picked out? What about a merchant account or a third-party processor? If you've started your research for picking the right payment processing service for your company, you know that the search is exhausting and confusing to say the least. There are so many options, rates, fees, and terms that will drive you crazy!

Through doing research online on this topic, we've found some articles that may help you in finding the right solution for your online business.  These articles were written a while back, but the terms, definitions, topic of concerns are still very relevant to now.

Solve the Payment Processing Problem

by John Conde

John Conde's article covers the basics from the definitions of True Merchant Account vs. Third-Party Processor, when to consider using True Merchant Account vs. Third-Party Processor, useful calculation tools, and some examples of pricing breakdowns.

"During the early stages of launching your online store, you'll need to make a number of critical decisions. Perhaps the most important of these is the way in which you'll process your customer payments. You can choose to process the orders yourself using a true merchant account, or use a third-party processor. The method that you decide on could affect the implementation of your entire web site."

Put Your Money Where Your Mouse Is: 6 Payment Gateways Reviewed

by John Conde

Another article by John Conde provides a list of criteria for comparing the Payment Gateway services. Choosing a gateway isn't just about their price. The most important thing to consider is security of the payment information.

"One of the greatest concerns for all parties involved in an ecommerce transaction is security. Not only is your sensitive information kept on file, but your customers' personal information passes through your gateway every day. This information is of considerable value to hackers, so it must be protected. So, when you choose a gateway provider, you must be confident that security is the provider's number one priority."

What about the features that comes with each payment gateway service? Features such as Virtual Terminal can help you take orders not only over the internet on your website, but by phone. The first page of this article breaks down the list of features and gives you some insight into what gateway services is all about.

These articles may help you with the decision of choosing a payment gateway and a processing option that best fit your business structure. The most important thing to remember is to ask many questions when speaking with your sales representative and not feel pressured to choose one company over the other. It's your business and your hard-earned money after all. Hope these links will start your process of choosing a payment gateway and a processor in the right direction.

Ready to start selling your products online?  Contact us to discuss your project in detail with Designtech Studio. 

Do you need a redesign of your current eCommerce online shop?  Take a look at our portfolio and how we've helped many small to mid-size businesses thrive online!

You're interested in selling your products online, but don't know where to start?  Read our blog post about starting an eCommerce website


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