Choosing a forex payment gateway for your e-commerce platform can be difficult at times. Before making a decision, consider the following factors.
Setup costs. Make certain you are not being taken advantage of. Give your dollars and cents a monetary value. It makes no sense to spend money on a large setup fee when you can get a payment gateway for free. We’ve seen many merchants get solutions after the provider waives the setup fee after some haggling.
Transaction Fees; Transaction Rates are included with every payment processing account or payment gateway. This is a percentage of the transaction value that merchants pay to the provider. Negotiate the best rate with the PSP. Make the most of your abilities and don’t let the other party add a large markup. Credit card processing companies that deal with high-risk transactions may charge higher transaction fees. These companies are ideal for eCommerce merchants who sell high-value items.
Monthly Charge; Check with the provider to see if the monthly fees can be reduced. Some may charge no monthly fees.
Integration Ease; How simple is the integration procedure? Check to see which languages are supported. It may be difficult to integrate if your website does not allow you to add PSP.
Payment Period; When does the processor pay? Merchants require cash flow. You don’t want your payments to be delayed by the provider. The majority of processors complete settlements within 3-4 days. Some High-Risk Merchant Account providers may keep hold for 1 or 2 weeks.
