So, you’ve got a great product, a high-tech website and after weeks of brainstorming and maybe one too many opinions, a clever name. But what about the perfect payment gateway?

We understand that the abundance of payment gateway options doesn't make this choice an easy one. However, it is one of the most important decisions you’ll make. It will become the main vehicle that ensures your customers smooth journey from browsing to the checkout point. Follow these simple tips to make sure your gateway is right for you, your business and future clients.

• Consider fees, contracts, and reputation

Like everything to do with your business, you want your payment gateway to be just right. The key to finding the best option is to undertake as much comparative research as possible before signing on to a gateway. Key aspects include researching their reputation, competitive prices, and flexible contracts. Remember cheap doesn’t always equal best.

• Find out if you're compatible

An important question to consider is whether the payment gateway you’re considering fits in with your existing billing, accounting solutions, and shopping cart facilities. A seamless integration with the software you already have ensures convenience and confidence when handling.

• Make security a priority

A payment gateway allows your customers to submit their credit card details securely and then passes this sensitive financial information to the merchant and then ultimately to the bank. With this in mind, it’s important to consider that with your payment gateway you’re not only protecting your customer but also yourself. Many companies merely use a payment form on their site as this is the easiest option. However, it is the least secure.

Security should be your key concern when taking payments. You should make sure you only use a provider which is level 1 compliant with the Payment Card Industry Data Security Standard, that offers built-in security capabilities such as tokenisation.

Safe2Pay is on such gateway that uses a patented payment gateway platform that uniquely protects your business by masking card details with randomly generated numbers from your website.

• Establish trust with your target audience

It’s important to do your research and make sure you pick a payment method that can be tailored to the needs and expectations of your intended audience. Studies show that when potential customers get to the payment part of the transaction they are more likely to second-guess themselves and cancel a purchase. At this stage, nearly any cause for alarm will make a customer abandon their shopping cart. This could be due to something as simple as not recognising the logos presented. Make sure you do your research so you’re able to anticipate what your customers are going to expect.

Although payment gateways may seem like a minor detail of your business, it’s been established that these systems can contribute to its ultimate success. Make sure you follow these simple steps so your business can put its best foot forward.

Discover here to know more about australian payment gateway options.