5 Proven Tips to Select the Right Magento Store Payment Gateway

by Guest Author on April 20, 2021

in Guest Posts

The demands for eCommerce deployment have remained consistently high over the past year. Many businesses entered the digital space for the first time amid the pandemic-induced lockdowns. Merchants who already had an online presence ramped up to fulfill skyrocketing orders. Amid all these, the role of payment gateways became more visible than ever. As security and performance rose on merchants’ priority agenda, platforms like Magento stood out. More and more business owners now realize that payment gateways could make or break an online business.

Magento, Shopify, and BigCommerce have emerged as the top eCommerce platform choice among businesses worldwide. In this blog post, we will talk specifically about Magento payment gateways. Magento is particularly popular among mid-sized and large enterprises. Its cutting-edge eCommerce capabilities and secure eCommerce environment make it a go-to choice for an increasing number of merchants. 

Choosing the Right Magento Payment Gateway 

Making Magento the framework for your eCommerce site is obviously a road-tested decision. However, the job is not finished until you power your online store with the right extensions and reliable payment gateways. 

And choosing the right payment gateways is particularly tricky for many store owners. That’s why this blog. Below are some proven ways to make your eCommerce payment processing flawless.

1. Consider scalability of the payment channel

As 2020 made it clear, it’s hard to predict the rate at which your eCommerce would grow. That’s why you need to keep everything scalable, including the payment solutions. Whether your store is built on Magento Open Source or the Commerce edition, scalability of payment should be a priority. The best way is to consult a Magento 2 development company that can guide you throughout the process. With expert guidance, you could avoid the risk of choosing the wrong solution.

2. Make the payment process seamless 

Seamlessness is perhaps not more important in any part as it is during payment processing. Most customers, in fact, abandon their cart if they don’t find the checkout frictionless. And you should be careful about this seamlessness across devices. Since most people would visit your store from a mobile, you need to make the payment gateway mobile-friendly. That means creating every feature keeping cross-platform capabilities in mind.

3. Focus on security and reliability 

As you might already know, security remains on the top of every shopper when making online payments. In order to get the desired conversions, you need to ensure the highest level of protection for all the payment gateways you use. Secure payment gateways make sure that your customers have reliable defense for all kinds of fraud.  With growing phishing attacks and identify thefts, security has become more crucial than ever.

4. Create a merchant account 

When a customer makes an online payment, the money is temporarily transferred to a retailer account. Usually, it’s different from your bank account. The amount stored in a merchant account is not transferred to the bank account until the customer’s bank approves the transaction. While it might seem like an extra step, merchant accounts add an additional layer of security.

5. Look for 24×7 customer support 

Customer support is central to digital payments of all kinds. No matter how well the payment channel is managed, a couple of payments will fail sometimes. And the first thing in such scenarios a customer looks for is hassle-free support. If they’re unable to find prompt support, they’re unlikely to come back to your site again. It is, therefore, crucial to choose payment gateways that have round-the-clock tech support. 

Wrapping up

The checkout is the final and most crucial step in a customer’s online shopping journey. If you don’t do it the right way, shoppers are unlikely to have the desired experiences. I hope this blog post will help you avoid such scenarios. From creating cross-platform capabilities to ensuring reliable security and prompt customer support, every factor plays a critical role in your eCommerce success. 

Guest article written by: Amaira is a Senior Magento Developer at Magento Store, an eCommerce solutions provider. In addition to her day job as an eCommerce developer, she likes to delve deeper into the world of emerging technologies like fintech, hybrid cloud, and artificial intelligence. She regularly writes about how technology is reshaping businesses.

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{ 1 comment… read it below or add one }

Danny Walter April 20, 2021 at 22:49

Wow this was super helpful, thanks for sharing. Now i can select the right payment gateway for my store.

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