One of the common concerns of online merchants is choosing the right payment gateway. In the e-commerce world, a payment gateway like Worldcore refers provides an application service which authorizes and processes online payments between merchants and their customers, the bank of the merchant and the credit-card issuing bank.
It is imperative to pick the right payment gateway for the success of a web-based store. Thus, a merchant should spend time in doing research on the payment option that is perfect for his business line. The following are some of the factors which must be considered in choosing a payment gateway.
Do not compromise on your only payment system’s security. Ensure that you choose a safe and secure payment gateway. Worldcore guarantees the security and safety of all information provided by customers. It must protect all your customers’ transaction information. Also, it should make use of cutting edge technical instruments such as 3D secure function, fraud monitoring system, IP geolocation and address verification system which will minimize the threat of damaged that resulted from fraud.
Any merchant account can have various fees. And some of these are set by the provider of the merchant account. However, most of the percentage and per-item fees are passed through the account provider to the bank that issues credit cards based on interchange fees. When selecting a gateway, there are three various fees which vary from company to company.
- Discount rate- It is charged to a merchant offering credit or debit card services according to factor like average ticket price, volume, industry and risk.
- Transaction fees- Charged as you get authorization for every transaction.
- Set up fees- This is a one-time fee charged to the merchant as he creates a new account.
Providers of payment gateways give various features. Depending upon the requirements of your business, pick the features necessary for your specific business. For instance, if you are looking to offer your services or products worldwide, the payment gateway that you will select must accept various debit cards, credit cards and currencies. Worldcore is a payment processing platform that caters such requirements. This global payment service makes it easier for businesses to send and get local as well as international wire transfers without any limit while complying with international regulations. Worldcore is a financial instrument that processes payments at any time of the day and night. Every incoming payments are credited to an internal EUR or USD account balance.
Ease of Integration
After you did the financial part of the business, you will have to incorporate the payment processing with your site. Usually, it is best to pick a provider where you can direct your customers to your site where they enter their credit card information with the service provider sending them back to your website after the completion of the transaction.
Know the stated practices for every payment gateway service to remit any payment back to you. A number of gateways do not have a no-reserve policy; however, take from two weeks to a month to remit funds. Although the majority of payment gateways are likely to maintain reserves to assess risks, you have to be aware of all the time and conditions the moment you can access your funds.