For some companies, switching to a different payment gateway is a necessity. But the option that is often skipped is the integration of multiple payment gateways into one system. On the surface, it seems like a logical idea with endless benefits. While this is true, there is still a hard requirement to read the fine print for any payment gateway. There are a few things to remember when changing a major source of income for your company.
It’s All About The User Experience
An enhanced user experience is one of the reasons to use multiple payment gateways. A consumer that has issues with the primary payment gateway can move on to another solution. There have been plenty of times where a consumer gets frustrated with the checkout experience and walks away. It is a lost sale, and one that could have been avoided by having an alternative payment gateway. Unsupported payment methods are common, especially if your business has expanded internationally.
Payment gateways can share information when the primary one goes down. That way, you can avoid having to deal with issues related to underperforming servers or security issues. Businesses that are performing above expectations are guaranteed to experience slowdowns during peak periods. A multiple gateway solution spreads the load around in the background without additional input needed. Seasonal sales or a good marketing campaign are expected spikes, but there are also periods of unpredictability that can slam your servers.
Feature overlap is common, but won’t cause issues with multiple payment gateways. It’s more important to look at their specialized features to get a better understanding of why each is important. One click checkout is popular, and prevents customers from having to mull over things in their checkout basket. With the right setup, you can also offer similar products at the checkout stage to entice non-invasive upsells.
Other features for payment gateways concentrate on being specific to the country of origin. Banks use high security methods to block the purchase of items that don’t follow a certain pattern. This catch all security also extends to purchases made from different countries. The method is effective, but sometimes it is too effective. A business can set up a multiple payment gateway system so that it prioritizes solutions that conform to a specific country or bank of origin. As a result, you will deal with happier customers that won’t have their time wasted during the checkout process.
With all of the benefits, there are one or two disadvantages of using multiple payment gateways. There is a lot of paperwork during the initial process of securing and managing all of the accounts. For a small or medium sized business, this can cause problems when you’re not prepared. The other issue is website integration for some of the trickier payment platforms. Most will be smooth, but there will be a few that test your patience during the beginning phase. If you can ride out these two rough parts of multiple gateway systems, it will provide several years’ worth of convenience.
Your business has a standard that relies on a good payment system. Giving your consumers options is never a bad thing when it costs you nothing in return. Keep the entire process simple by using the features of multiple payment gateways.