The last thing you would want as an entrepreneur is an average payment processing service. That would mean that your clients will always have issues with your system. That can be understood because in a world where online security is not guaranteed, no one would want to take chances with unreliable payment processing systems. That is exactly where payment gateway systems come into the picture. But before getting one, it is important to first understand how an Indian payment gateway can increase your transaction success rate. Here’s how to go about it.
Simplify integration
Start off by analyzing your payment gateway so as to identify where the transaction gets processed. Then remember that you do not need a technical team to simplify integration. The whole process is as simple as providing proper documentation and avoiding complex integration processes.
One click checkout
One click checkout has so many other names attached to it. It is not as technical as it sounds. With the feature integrated in your payment gateway, buyers can save their card details so as to ensure they do not go through the same verification details the next time they buy anything from your store. They will only have to enter their CCV number. This not only speed the checkout process but will also improve success rate and improve user experience.
Intelligent routing
The best payment gateway is one that can intergrate easily with several processors and acquirers. Think of it this way. There is something that each processor is good at. With different ones integrated in your payment gateway, you can be sure one will always work should another fail. That means you won’t have downtimes. Then there is the fact that where international currencies are involved, dynamic currency conversion and 3DS authentication become inevitable.
Status inquiry
There are times when a transaction may seem successful. The amount may in fact be deducted from the buyer’s account. Despite this, the merchant may not get confirmation that the transaction has been successful. The only way to fix this is to go for a gateway that features a status inquiry web service. That way, you can detect the problem immediately it happens.
Validation
This is perhaps one of the most important things a merchant should take into account when setting up a payment gateway. There is always the need for validations at different steps. However, if the validations are improper, then a transaction can be wrongly flagged as invalid and be dropped. This can easily mean loss of revenue. Consider the following three measures to ensure this does not happen.
· Test all validations when you get post back from payment gateway after each transaction is completed.
· Make sure your payment gateway does not reject a transaction where a buyer fills an invalid detail on an optional field.
· Send instant email to a buyer for every invalid transaction
· Reduce the number of mandatory fields
Consider schedule maintenance
Even the best Indian payment gateway needs maintenance everyone in a while. So consider it and ensure this happens seamlessly without interrupting normal operations. You may have to hire a good technical team to do this at least twice a year but like you will find out, it is worth it.
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