Five Mistakes to Avoid When Implementing a Payment Gateway

 Your software customers need an effective way to process credit cards through your software. Choose a payment gateway for straightforward and secure payments. Learning how to avoid these common implementation mistakes can help you save time, money and avoid unnecessary stress when rolling out a new payments feature to your software.

 Mistake #1: Making a Split-Second Decision

 All payment gateways sound great until you take a closer look. Before you commit to one, ask yourself the following questions:

• Is it secure? Will the technology help your customers reduce their PCI compliance scope?
• Is the company offering API and implementation support?
• Is this the most affordable option for your customers?

Payment gateways have the potential to impact your software in a big way. Take the time to fully understand which services offer the best solutions for your business and ultimately your customers.

Mistake #2: Not Understanding the Importance of Revenue Sharing

 Just like any other major financial decision, calculate the ROI that you can potentially earn through your payment gateway integration.  With many payment gateway partnerships, you can monetize your payment integration into a new revenue stream, earning a percentage of your customers payment transactions.

Mistake #3: Rushing Coding

Don’t just choose the payment gateway provider that promises everything you want to hear. Choose a provider that offers access to their API and allows you to customize your integration to fit the needs of your customers. When you choose a provider that is willing to partner with you every step of the way, you’ll have far more flexibility with your payment processing.

Mistake #4: Forgetting Your Employees

From development to product to sales and marketing to customer service, your employees have a major role in implementing new features that you add to your software. In order to keep your business operating smoothly, ensure employees at all levels are excited about new features and business partnerships.

Mistake #5: Not Understanding Your Partner

Your payment gateway provider isn’t just a means to an end. Professional providers will partner with your business to ensure a smooth transition and successful implementation. If you’re ready to choose a knowledgeable, professional and effective business partner, contact Paragon Payment Solutions today.