How to choose the best payment gateway for your business

With the rise of e-commerce, improving the customer shopping experience is a key task for any business. Integrating a wide variety of payment options has become a basic requirement to enhance user experience, making the process easy, intuitive, and secure.

In this article, we will explain the essential features that any payment gateway should have so you can choose the one that best fits your business needs.

How does a payment gateway work?

A payment gateway refers to the payment system used by customers when making online purchase: the virtual version of the traditional physical POS. Its purpose is to facilitate financial transactions, offering customers a wide variety of payment solutions to choose from, according to their preferences.

Likewise, there are a number of basic features to consider if you are looking to integrate a virtual POS into your online store.

Easy-to-integrate payment gateway

One of the most important factors to consider. For the online shopping process to be easy and intuitive, the payment platform you choose must integrate seamlessly with your website.

In this sense, PaynoPain’s online payment platform is an ideal solution for e-commerce projects thanks to its intuitive, adaptable, and fast interface, providing an optimal user experience across all devices. In addition, it allows for simple integration with eCommerce systems using technologies such as Big Data and Business Intelligence.

Ensure your customers’ security

Any service that processes or stores card data must comply with PCI SSC protocols, protecting customer information and minimizing the risk of online fraud. With the same goal, PaynoPain also complies with the recent PSD2 (Payment Services Directive 2), which updates the regulations for electronic payments within the European Union.

This second European Payment Services Directive addresses online payments, card payments, and mobile payments, including significant changes for both consumers and businesses. It requires payment systems to verify a user’s identity through two-factor Strong Customer Authentication (SCA). This means the system requests at least two of the following credentials from the customer:

• Something they know (a PIN or password)

• Something they have (such as a mobile phone or another electronic device)

• Something inherent to them (a fingerprint or facial recognition)

In this regard, the online payment platform offers advanced security technologies such as card tokenization and a proprietary anti-fraud system, which allows the creation of dynamic rules that minimize the risk of fraud in any online business. These rules, including velocity checks and geographic checks, are fully configurable and customizable.

Adapt to payments on any device

Smartphones continue to gain ground, with 59% of consumers in Spain making a purchase via mobile in 2022. When choosing between different payment gateways, ensure they are compatible with various mobile devices to provide a simple and intuitive payment experience.

As a comprehensive and omnichannel payment gateway with an adaptable, secure, and fast interface, PaynoPain guarantees a smooth and intuitive user experience, making the payment process quick and easy from any device.

Accept multiple payment methods

The main goal of any online business is to increase sales. When choosing the payment methods available to your customers, it is essential to understand your target audience and anticipate their preferred options.

Mobile payment alternatives are increasingly important in Spain due to their convenience, especially as a substitute for cash. Fast and easy payment experiences are becoming a priority for consumers. Our virtual POS, offers a wide variety of payment methods to suit your audience. Options include Bizum, Mastercard Click to Pay, Cofidis, and even Bitcoin and other cryptocurrencies.

Usability and customization

Another key aspect when selecting a payment gateway is usability—for both the end user and the business. The platform interface should be simple and practical, allowing customers to clearly understand what is happening and the steps required to complete a secure payment.

It can also be valuable for the platform’s functionalities to be customizable for each business, allowing them to maximize its benefits.

Excellent customer support: crucial for a payment gateway

Customer support is a differentiating factor for any company. The way users perceive a business significantly impacts its growth.

At PaynoPain, customer satisfaction is our priority. We strive to answer all inquiries immediately, with a team of professionals trained in online payment methods to provide individualized service tailored to each client’s needs.

As we have seen, there are many features of a payment gateway to consider when aiming to grow your online business. Beyond essential methods such as credit and debit cards, the more payment options offered to customers, the greater the potential to increase sales.

Do you think we could be the best payment gateway for your business? Contact us, no strings attached: