A merchant processing company is something that is highly required if you as a businessman want to survive in this competitive world. Especially, if you are running a business in Canada, you must require this service. Well, there are many merchant processing companies in Canada. But, you might not get satisfactory outcomes from them. Therefore, we have added 10 things that you must consider before choosing your merchant processing company in Canada in order to chose bet online payment gateway for your business.
1. Must Have Proper Payment Flow
As a businessman, you will always want to elevate your business to the next level and for that, you must pair your business with a merchant service that is capable of giving you proper payment flow. Your payment gateway must be set up in such a way so that your customers do not face any sort of issue while paying. An ideal merchant processor in Canada provides several options to the customers for making payment. We have elaborated these here and so, have a look at the following points:
They add an integrated payment form to the site. It is basically an option through which the payment detail is sent in order to provide an enhanced customer experience. It consists of all the required information and after filling the form, it is sent to the gateway provider which is otherwise known as API. Well, it requires additional programming and consequently, the cost of payment gateway integration gets increased.
Merchant service in Canada also offers options for redirecting; it is also called ‘redirect for payments’. Through this option, the customers are easily redirected to a hosted payment page which is 100% secured.
2. Should Have Adaptability
If you are running a business where you are selling services as well as products online, you must have online bill payment services on your website. It will allow customers to pay through credit cards even with sending them the invoice into their email. The more options you will give, the more customers you can attract on your website. Therefore, consider the adaptability of the payment processor before choosing it for your company.
3. Payment Security
Payment security is another important aspect that you must consider before choosing any merchant processing company in Canada. Well, with the advancement of technology, many businesses are coming online. Therefore, it does not matter whether you are running a small business or big, you must give your customers a flawless experience. Most of your customers might not know that they will be redirected to a third party while making payment. Most customers generally use debit or credit cards for making payments and therefore, choose a merchant service provider that is PCI compliant. Moreover, you should also check whether the company has point-to-point encryption, fraud management tools, and tokenization or not.
4. Consider The Payment Processing Fees
Payment processing fees play a very important role while choosing a merchant service for your company. However, there are no fixed processing fees as it depends on the structure of your business. Basically, there are two types of payment terminals- virtual and in-person. If you want both these options, your payment processing fees might go on a higher side. Moreover, if you want all the important reports regarding your business such as transaction frequency, revenue consistency, business scales, you might have to pay a lot for hiring an advanced merchant service provider.
5. Recurring Payments (tokenization )
Recurring Payments are automatic payments where you get authorization from your customer to collect the credit card information and charge their credit card or bank account on billing cycle it may be daily, weekly, Bi-weekly or Monthly. This amount is deducted on the due date of every billing cycle, so that you never have to worry about late fees.
6. Must Be Easy On All Devices
The payment gateway option should be designed in such a way so that it can change the resolution as well as size as per the requirement of the device. Statistics say that more than 15% of e-commerce sales are conducted on mobile devices and therefore, consider this point before choosing an integrated credit card terminal provider for your business.
7. Ability To Accept Payments Across The World (Multi Currency)
You might have a small business but you will never know when it will become an international brand. Therefore, you should choose a merchant service provider that has the ability to accept payment across the world. Moreover, if you have an e-commerce business, you must have this option so that customers across the world can purchase products from your site.
8. Easy Integration
If your site is paired with an easy integration process, it can send the customers to the third part page while making payment and again send them back to your site after completing the transaction.
1-Buy Button:You can sell on most platforms with Converge Buy Button,AS simple as 3 Steps
2-Hosted Payment Page:its when you redirect the customer for payment to the gateway company for entering Credit card information and gateway will send back the result and customer after processing the transaction to your site. in this scenario you don’t need SSL certificate and any other securities because a payment page is securely hosted by gateway provider.
3-You don’t want to redirect the customer off your website? Do you want to process transaction in your website? its simple download one of our plugins or use our API (*Note: You need SSL certificate to be able to do so)
9. Support Mobile Payments
The technology is gradually evolving and in the coming years, credit card buying will surely be replaced with mobile payments and therefore, choose a service provider that supports mobile payments.
10. 24×7 Customer Support
Customer support is something that can make or break your business. There are many service providers that don’t provide customer support and in such cases, customers need to follow manual instructions. But, if your business is paired with a merchant service provider that offers 24×7 customer support, it will be easier for you to create a solid impression upon your customers.
Now, if you are looking for all these features in one place, you can get in touch with International Payment Solutions which offers the best merchant processing solutions in entire Canada.