Selecting a Payment Gateway Partner
Four Things to Consider When Selecting a Payment Gateway Partner
Choosing payment gateway partner doesn’t have to be complicated. Many software providers don’t know what to ask and just want to add payments to their application. It’s important to think long-term when choosing your payment gateway partner. We suggest thinking about these four things:
The Learning Curve
All integrations have a learning curve, but some are easier than others. The easier the integration, the quicker you’ll be up and running. Some payment gateway systems have modular features, which lets you add what you need to get off the ground and can add more features as you need them without impacting your customers.
Invest in the Now and the Future
Your payment integration needs to be expandable. You may only be thinking about your current needs, but as you grow, you may need to add more features such as tokenization, card account updater and mobile payments. Make sure your partner’s technology will grow with you.
Choose a payment gateway partner that has your back when PCI compliance standards force change on the way your software handles transaction data. Your payment partner should take PCI compliance by the reins and steer you away from risks like financial liability, loss of customers and hefty fines.
Card-Holder Data Security
While there is no one solution that addresses all the security risks that exist in payment processing, there are two specific technologies we have come to know and trust that provide a substantial amount of protection, specifically point-to-point encryption (P2PE) and tokenization. P2PE provides optimal security and greater efficiency for handling cardholder data, while tokenization securely stores cardholder data.
These are just a few of the things you should consider when selecting a payment gateway partner for your software. Contact us to learn more about our approach to integrated payments and how we make it easy to drive customer adoption.
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