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Payment Gateways
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The increasing popularity of online payment gateways has occurred for several reasons: 1) transfer or payment is convenient 2) security by encryption provides good security 3) all transactions are guaranteed for customers.
Setting an online payment system onto your website lets your visitors make purchases without problems. The choice of a payment gateway is a very important part of online payment. Another very important factor is gateway compatibility. Any online payment that is compatible with only with a few other gateways automatically narrows its options.
As a customer, you might not want to do business with a merchant or service provider whose online gateway is not compatible with the most popular systems. Here are some questions you should answer before choosing a gateway.
1) With which other systems will the gateway operate compatibly: Western Union, banks, credit cards, American Express, other gateways?
2) Is each transaction guaranteed, with reimbursement if there is a problem - or is it a problem to get support on problem transactions?
3) Security measures - Will the system be using the digital signature? - This prevents hacking.
4) Dynamic IP address records - Providing additional security by checking the IP address used in prior transactions by internet?
5) Does the system have 128-bit security by Secure Socket Layer?- automatically encrypted?
6) How quickly are transactions completed? - checks take several days to clear unless electronically processed, but a credit card transaction or regular electronic money transfer from a funded account should be almost instantaneous.
Gateway systems like PayPal, Google's Checkout, Epay, and MoneyBookers.com have some good features. Sadly as with most internet concerns the larger companies become the targets for hackers. Microsoft Windows is hacked more than Apple and Internet Explore gets hacked more than Firefox.
Because PayPal is the largest payment gateway it means PayPal has the most hacks. There are thousands of other scams also being conducted against PayPal accounts. PayPal has also been targeted by several class action suits because of problems with customer accounts. PayPal has pushed people to use their system and tried to exclude other systems from eBay.
One very good gateway payment system that has not suffered the major problems with security, scams, and customer support is MoneyBookers.com. They provide all the basic services quickly easily and safely.
When you compare payment gateway systems you have to remember that no system is perfect. Each system must be user-friendly to successfully serve the merchant and the buyer.
About the Author
Arthur Browning began his career teaching technical writing in a small Midwestern university for 15 years. He later edited and published a national professional journal for some ten years. He is now an investor. His interests include art collecting, web marketing, writing.
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At Home Business World Recommends
We test many small business products in our own business. Below you will find the Payment Gateways we have tested and recommend with confidence.Payment Gateways - PayPal When you signup for PayPal, you can start accepting credit card payments instantly. As the world's number one online payment service, PayPal is the fastest way to open your doors to over 150 million member accounts worldwide.
Best of all, it's completely free to sign up! To sign up or learn more, click here:
Moneybookers.com
is a global e-payment solution that enables people from every corner of the earth to send and receive money. People from more than 30 countries can use their domestic bank accounts to pay us via moneybookers.com. You can also pay via credit/debit card.
Moneybookers delivers a great product ideally suited for small businesses, online merchants, individuals and others currently underserved by traditional payment mechanisms. As a true global payment solution, they accept customers from every country in the world! It's free to sign up and get your account now! Just use the link below.
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