Fees will vary – businesses in high risk industries will usually have to pay more due to the increased risk of chargebacks & fraud.
Payment gateways must comply with the PCI DSS, which stipulates that all card data must be stored & processed in a secure environment.
If you aren't PCI compliant, not only could you face huge fines, but your business reputation could also be at stake.
There are many features to look for in a gateway which help to prevent fraud including Email Hotlisting, IP Hotlist, BIN Country Hotlist, Device ID Hotlist, Address hotlist, Card Security Code Checking & Address verification.
If you want to expand internationally, you’ll need to be able to accept various currencies & offer multi-language support.
It is vital to offer as many payment options as you can, making sure you include options like Paypal, Apple Pay, & Google Pay.
Ideally, you’ll want a payment gateway that lets you view your reports on the go, with a mobile-ready interface.
Issues with your payment gateway can jeopardise revenue, so you’ll want to be sure that your provider will be responsive & solve any issues promptly.
Payment Processing (Ecommerce / Virtual Terminal / Pay By Link / Card Machines)
Process payments from as low as 0.4%. Next Day Settlement in most cases.
No Setup Fees when quoting OpenCart Forum.
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I think what would also be important especially nowadays since so many transactions or made with our smartphone - that the payment gateway can be used on mobile phones and that that experience is seamless and enjoyable for the customers. And maybe a certain flexibility & customization might be also advisable.
Besides, check that it has only transaction fees and no hidden fees.
Security and processing speed are the key factors for me. Especially, when we talk about international transactions.Simon-TP wrote:
What are the most important things you consider in the first place, when you choose a payment gateway? I'm doing a small research and write my essay in custom reporting on the fees analysis and how customers behave when the fees are higher or lower.
More aspects to think about:
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