Key Factors To Consider Before Selecting A Payment Gateway

With the popularity of e-commerce and mobile applications, payment gateways are also assuming importance these days. With efficient payment gateways, making online transactions is no more a challenging task for both the businesses and the customers.

If you too are considering to make your payment system online, here are a few points you should consider before selecting a payment gateway.

1. The fee structure should be transparent

Several service providers offer the facility of online payment system Malaysia. When you are deciding to choose one of the service providers as your e-commerce payment gateway Malaysia, you should understand the fee structure of the payment gateway before signing up for one. Many payment gateways have hidden fees that come out only once you start using it. This can take a toll on your profits. Some service providers charge a fee for every transaction made, while others charge a monthly subscription fee. Make sure that you do all this calculation before signing up.

2. Does your payment gateway support multi-currency transactions

If you want your business to grow globally, you should see if it caters to the customers all over the world. This means that the payment gateway you are choosing for online transactions should support multi-currency transactions. When a customer has the opportunity to pay in their local currencies, they won't hesitate in making the payment. If you can reach to the international customers, your business will soon turn into a global brand.

3. Ensure that your payment gateway is safe and secure

Each country has specific online payment rules and standards. When you are choosing a payment gateway, you should ensure that it complies with the set standards of the online payment system. When you get recognition from the certified body, you can provide your customers that their data is safe with you and there is no harm to their privacy. The payment gateway provider should also be equipped be safety features like the fraud monitoring system, address verification system, 3D security, etc. If the payment gateway system chosen by you lack any of these features, it can put your customers' data at risk and also make your business vulnerable to cyber attacks.

These points are very crucial when you are looking forward to selecting a safe and secure payment gateway system for your business.

Mobiversa is an online SMS payment gateway Malaysia service provider that ensures that your business can grow with the use of cashless payments. From payment gateways to POS and other features required to ease the online payment systems, Mobiverse offers you a lot of services. If you are looking for a payment gateway service provider in Malaysia, look nowhere else other than Mobiverse.