Top 4 Features to Look for in a Payment Gateway

implementation of quality management system

While at lunch the other day I overheard a couple of coworkers complaining about sales people that push too hard and give too many discounts on mission-critical software systems. “I’m not going to rush in switching Payment Gateways just because of his month-end quota,” I heard one guy say, “no matter what discounts he throws at me! It’s too important of a decision to be hasty.”

So, what should you look for when choosing a new Payment Gateway? Here are 4 top questions to ask yourself:

1. Does the Payment Gateway have strong security?

Accepting credit card payments can be a huge liability if not done correctly. If something goes wrong it could mean heavy fines and damage to your reputation. This could possibly mean not just losing money, but your business.

When looking for a Payment Gateway, make sure your business and your customers’ data is stored with encryption and token technology. This will prevent any hackers from getting their hands on valuable data. And of course, search for a payment gateway that’s fully PCI compliant and adheres to the Data Security Standard.

2. Does the new provider have 24/7 support?

Your at a trade show Sunday evening and ready to take a big order from a new client, but there’s an issue with the connection to your Payment Gateway. Don’t risk your business by not getting the 24/7 support you need! Also, look for in-house teams located in the U.S. to get the best quality of customer service.

3. Does the Payment Gateway have all the tools and features you need?

Our eBizCharge for Macola offers credit card payment online, through eCommerce, and right in the Macola ERP product. Does your Payment Gateway do that? The best payment gateways will include useful tools that will help you quickly assess and analyze your credit card sales and manage transactions. Also, be sure your new system will allow you to release funds for next-day funding, issue credits and voids, and generate customizable reports.

4. Is the system flexible?

Does your business accept credit card payments over the phone? Or perhaps you have an eCommerce shopping cart or physical terminal machine? A good payment gateway should be flexible enough to adapt to every situation you can throw at it. And, as a bonus, some payment gateways feature ERP/accounting software integrations that allow you to accept credit cards directly within the native environment of commonly used ERPs like Macola, QuickBooks, Sage, or Microsoft Dynamics. Whatever your methods for accepting credit cards, make sure the payment gateway you choose is flexible enough to accommodate you and adapt to your growing needs in the future.

Though finding a payment gateway can be a difficult task, all the research and comparison will be worth it in the end. Finding a stellar payment gateway can make all the difference, and you’ll feel the benefits every day. A great payment gateway will become a trusted partner, while a mediocre payment gateway can drag you down, wasting time and energy.

Watch our EBizCharge for Macola Demo

Will our Payment Gateway be the perfect fit for Macola? We think so, but don’t take our word for it – click here to watch the demo and find out for yourself!