- The first reason for changing a payment gateway is that it was previously linked to an account that has since been closed. When this happens, the merchant may be unable to process transactions until they have changed their payment gateway. This can happen when a business closes or merges with another company and needs to change its name in order to gain customers.
- The second reason for changing a payment gateway is that the merchant has experienced an issue with fraud. This may happen if there are many transactions being processed through one account and it becomes difficult to ascertain which ones are genuine. In this case, it would be best to change your gateways so as not to lose any customers due to fraudulent purchases.
- The third reason for changing a payment gateway is that the merchant wants to offer more options. This may be because they are looking to expand their business and want to reach new customers in different countries; it could also be that there was an issue with processing payments earlier on, so they have decided that opening up another account would solve this problem.
If you feel identified with any of this three cases above, we are here to explain what are the things you must take into account when choosing a payment gateway
Choose the right partner for you. There are many payment gateways available and the first step when making this decision is to think about what type of payment processing you need. You may want a gateway that only accepts certain types of credit cards, or one that offers payment options in different currencies.
Once you have narrowed down the payment gateways that are most appropriate for your needs, it’s time to start looking at what they offer. For example, some payment processors may not be able to process payments from a certain country or charge higher fees than others per transaction processed. This is especially important if you’re running an online business and need to take payment from a variety of countries.
If you are still unsure as to which payment gateway would be best for your needs, it is advisable to do some research on payment gateways reviews and testimonials in order to see how other merchants have found the experience working with them. At Centrobill we thrive to offer comprehensive tech solutions that will enable your organisation to grow and increase profits by providing industry-leading products and services.