Choosing a payment gateway – Chief Marketing Officers
As businesses continue to move online, choosing the right payment gateway is critical for Chief Marketing Officers (C.M.Os). With so many options available, it can be challenging to identify the ideal provider that aligns with the customers’ needs. Here are five key criteria C.M.Os should consider when choosing a payment gateway as WLPayments.
Security and Compliance
One of the top priorities for a C.M.O is to give the client a feeling of trust, as this will increase the chance of a customer doing business. So for any business, it is vital to ensure that customer data remains secure. Therefore, C.M.Os must choose a payment gateway compliant with Payment Card Industry Data Security Standard (PCI DSS). This certification ensures that the provider adheres to strict security protocols and takes measures to protect sensitive customer data. Additionally, it’s essential to consider the fraud protection measures offered by the gateway. Look for providers that provide real-time fraud detection and prevention, multi-layer authentication, and encryption technology to ensure the highest level of security.
Payment Processing Capabilities
Another critical consideration is the payment processing capabilities of the gateway. The payment gateway should support multiple payment methods, including credit and debit cards, digital wallets, and bank transfers. It’s essential to consider whether the gateway supports the currencies and payment methods relevant to the company’s target markets. Moreover, the gateway should be able to process payments quickly and efficiently without downtime or errors.
Intelligent Transaction Routing
Intelligent Transaction Routing is an essential feature that optimises the payment processing route for every transaction. It analyses multiple factors such as transaction amount, card type, and issuer country to determine the most efficient and cost-effective route. This feature ensures that transactions are processed quickly and at the lowest possible cost, saving businesses money in the long run. C.M.Os should choose a payment gateway that offers their clients Intelligent Transaction Routing functionality to maximise efficiency and cost savings.
Customisation and Branding
Customisation and branding capabilities are essential for businesses that want to provide a seamless and consistent customer experience. The payment gateway should allow businesses to customise the checkout page to reflect their branding and design preferences. Additionally, the gateway should offer flexible integration options, allowing companies to integrate the payment process seamlessly into their website or mobile app. This integration should be done in a way that does not disrupt the user experience or create friction for customers.
Customer support alternatives with the latest technology
Finally, C.M.Os must consider the level and type of customer support. Payment gateways provide new opportunities for the support and help of e-retailer’s end-customers. Nowadays, MOTO 2.0 is a new tech solution for customer support. A payment link can be sent easily to customers without requesting sensitive, private data. Then the customer can easily pay with the link. The link can be sent via SMS, WhatsApp, e-mail etc., and makes the payment much more convenient. Choosing the right payment gateway is critical for businesses that want to succeed in today’s digital landscape. C.M.Os must consider various factors such as security, payment processing capabilities, intelligent transaction routing, customisation, branding, and customer support when selecting a payment gateway. By considering these criteria, C.M.Os can choose a payment gateway that aligns with their company’s needs and provides their customers a seamless and secure payment experience.
What’s next?
At WLPayments, we ensure our payment partners have access to all the relevant payment data through platform or API. Do you have any follow-up questions after reading this article? Reach out to us; we will gladly help you find the answers. Fill out the form below, and we will contact you shortly. Or drop us an email at sales@wlpayments.com.
Choosing a payment gateway – CMOs – WLPayments
