Online businesses are gaining momentum at the moment as more and more merchants are looking forward to take their business a level ahead. The digitization has led to a wave where every merchant is participating in the race of integrating digital payments to ease and expand their client base. When you decide to go online, there are numerous factors that you have to look into before selecting and integrating any one. There are different kinds of digital payment providers that offer your business various rate plans, diverse options and different levels of technology and support. Choosing the right digital payment provider may increase your revenue and conversions substantially, and may take your customer satisfaction to a higher level. In short, it can change your business life, altogether.
To help you make an informed decision about which provider you should adopt, we have compiled a list of 10, exceptionally important factors that will help you navigate the complicated payment landscape and will help establish your business with the most appropriate Digital Payment Partner. Like in every business there are quite a few traps to avoid and a few to closely analyze.
1. Rate plan offered
Before you take the plunge, you must consider the price offered. Compare the price from different providers and select the one that gives you value for money. Conduct an in-depth research before you agree to one. Make sure there are no hidden charges involved before you make the commitment. Payment represents to a space where good transactions can finally lead to better customer retention and shifting of more and more customers from cash to digital form of payments.
2. Advance Technology
We all know that the technology is evolving at a great pace and it is crucial for your business to keep at bay from the already outdated technology. A merchant should always make sure that he has all the digital payment tools at his disposal. Choose a payment partner that provides you with innumerable digital payment acceptance solutions, ranging from IMPS to POS device. Atom Technologies provides you more than 265 payment options spread across both Online and Offline platforms.
3. Transparent Billing
Merchant statements are confusing with no transparent calculations shown behind each fee and no consistent labeling of fee. You might never know what kind and amount of hidden fee you must be paying. But with a little know-how, you can save yourself from falling into the trap of unethical billing.
Atom provides you transparent and flexible billing charges with zero hidden cost eliminating the unprofessional practices.
4. Quality On-time Support
Payment facilitators generally do not provide intensive customer support. A lot of times you are provided with email-based assistance. When it come to you and your customer’s funds, a payment service provider that can troubleshoot any queries you have, is a must. You need a partner who you can look up to at any hour of the day.
Atom provides an intensive 24*7 customer support which spread through all platforms, including e-mail and phone call.
Compromising on the safety can lead to uncontrolled disasters. Your security is of paramount importance when it comes to digital transactions. The payment provider you select should be absolutely secured when it comes to your customer or you. With innumerable online frauds being reported on a regular basis, it is extremely crucial to double check how each gateway works. The highest level of security available is PCI DSS.
Atom provides you with PCI DSS, version 3.2 compliance and 256 bit SSL protection which is the highest level of security available.
6. Ease of Transactions
Your online payment partner should at least be agile and hassle free. However, there are a lot of payment solution providers which are extremely slow in its operations. There should be a synergy when it comes to accepting and processing online transactions. It is necessary to make sure that the provider reduces the risk of loss and failures and facilitates ease of integration.
7. Ease of Integration
When you’re selecting a payment provider, check how easy and user-friendly their payment gateway integration is. Make sure that the developer SDKs are simple, straightforward and take minimum developer time for integration. Always pick a provider that offers multi-platform and multi- framework support.
8. Settlements and Reconciliations
It is of utmost importance that the channel is robust when it comes to real-time settlements. The two most important factors are payments and services when it comes to making or breaking any partnership between the customer and the online service provider. During faster transactions it is fundamental for the payment gateway to accurately processing the transaction, saving consumer’s time along with ensuring data security.
9. Support all mode of transaction
When it comes to choosing the perfect platform for online payments it is of paramount importance to find out a service provider that supports almost all current modes of transaction. Every entity has a different need. You might require something now, but you may feel the need of something else later. And selecting a payment solution provider without considering this point may lead to functional issues later.
10. The road ahead
India is constantly emerging as a leader in payment systems with products adding a new flavor to traditional businesses. The newly launched applications are revolutionizing the mobile payment space in a significant way. In coming years we might definitely experience better days and see newer trends and innovations.
Atom technologies is an Omni-Channel payment service provider that focus on providing payment solutions on both online and offline platforms. Apart from providing more than 265 payment options, atom is keen on encouraging merchants to adopt digital payment modes to enhance their business and take it to a higher level. Atom’s services ranges from IVR payment to POS machine to Online Payment Gateway solutions. With its easy integration and faster merchant on-boarding program, atom caters to the merchant’s need of simple and seamless transactions. So whether you are dealing with customer payments, collecting payments from your partners, offering EMI or providing single click payments, Atom has the right solution for you!