If you are an eCommerce store owner, then you know what a pain it is to run a smooth money transactional channel without online payment gateways. Payment gateways are almost like a technological boon for merchants that can make their life pretty easy. Payment gateways are an easy and secure way to ensure money transactions and have number of positive sides to it.
If you are new to the game or someone who wants to implement this technology in their business, you might also be curious as to why they are so popular and what are its perks.
In this article, we will list out some of the benefits of payment gateways for merchants.
- Secure Transactions–
When you sell a product to someone in exchange for money, you expect it to be safe. Or when you opt for services like Cash on Delivery, you always have worry about the middleman and it takes time for the money to reach your hands. This is why payment gateway is the safest bet. They are safe, secure and the money gets directly transferred to your account. This prevents any possible fraud or data leak, thus keeping both merchant’s and customer’s money safe.
- Opportunity to Gain New Customers-
Payment gateways allow you to expand you customer base as people who are thousands of miles away can also buy your product with a mere click of mouse. The extent to which you can expand your customer base is only limited by your creativity and brand promotion ability.
- Bundled with Shopping Carts-
Payment gateways usually are bundled with a shopping cart feature. The software allows the customers to order multiple products at a time and eventually pay for all of them at once. This feature saves a lot of time and money of the merchants; it comes free with the payment gateway and also proves to be very useful as everything (shipping cost, tax, additional costs etc) now becomes easier to understand for both the customer and the merchant.
- Faster Transactions-
A payment gateway is the fastest way for money transactions out there. As compared to manual, you don’t have to wait for anything; as soon as you click the pay button, you are done with the payment instantly.
When you have a payment gateway, you are not dependent. Unlike all the physical stores, your store is always open 24/7, 365. The customers can shop anytime from the comfort of their homes.
These benefits indicate that payment gateways are must-have features for every merchant.