Digital disruption in the field of retail and other online businesses has increased several fold. This major shift in the consumer buying trends has fueled the economic benefits through eCommerce.
Millennial population is in favor of online shopping, as a result, this industry is becoming more and more competitive each day. If their preferred payment method is not supported by the online stores, they tend to abandon purchases. In that case, what is the right way to choose a payment gateway that is best suited for a business ensuring no more drop offs and higher sales, is a question that needs to be answered.
It is important to understand the variables that need attention before businesses zero down on choosing the right payment processing method for their customers.
Identifying business needs, geography of operation, your existing technology components and larger business goals including a deep dived comparison on the basis of costs incurred, performance metrics is essential before integrating a payment gateway. This infographic aims to highlight all the above mentioned to help taking an informed decision.
Infographic Source: http://kaysharbor.com/blog/mobile/all-you-need-to-know-about-choosing-a-payment-gateway