Online shopping has many benefits for the modern consumer — larger selection of goods and services, more detailed product information, better prices, and greater convenience.
Yet along with all the benefits and convenience are associated risks, like security issues and fraud. A secure payment gateway helps mitigate and minimize the risks associated with online shopping. It also helps your eCommerce site stay competitive and successful in the crowded, digital marketplace.
What’s a Payment Gateway
You may be wondering what a payment gateway is. Basically, a payment gateway facilitates the secure communication of financial data between clients, merchants, and banks. As you can imagine, choosing the right one for your eCommerce site is an important decision. Each payment gateway provider offers different services and levels of security, and, as such, come with differing associated costs. Keep reading to find out why a secure payment gateway is necessary for online shopping.
Keeps Data Secure
Digital security is at the forefront of contemporary culture. From personal information to financial data, and even to who has access to the information on your phone, all of us are thinking about digital safety and security. That’s one of the most important reasons a secure payment gateway is so important to online shopping. It keeps your customers’ sensitive data safe and secure.
When you focus on safeguarding your customers’ financial information, you give your clients the peace of mind they need to trust you with their digital shopping dollars. A payment gateway encrypts and securely transmits data to minimize risk of data theft and fraudulent transactions.
The best secure payment gateway for your eCommerce site will offer multiple layers of state of the art security features like Fraud Scrub, secure SHA-256 SSL data encryption, and high level PCI compliance to keep your site secure and your customers’ information safe.
Expand Your Market
A payment gateway does much more than offer security and safety for financial data—it can even help your business expand into the global marketplace. Another great benefit of online shopping is the ability to conduct business around the globe, 24 hours a day, 365 days a year. A global payment gateway can help your business facilitate financial transactions in a wide range of countries and currencies around the world.
With a global payment gateway, your website can instantly facilitate foreign currency transactions. This means you can increase the reach and scope of your business to the global marketplace.
Provide a Great Customer Experience
When you build your eCommerce website, you want to ensure a pleasant and seamless customer experience that provides exemplary goods and services and offers a safe and secure checkout process that enables completed transactions. A great payment gateway is an integral component of those plans.
With so many payment gateway options available, it might be difficult to know where to start. Allied Wallet is an industry leader in global payment solutions. They offer state of the art security, competitive rates, and seamless software integration.