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Choose the Right Payment Processor for your E-Commerce Site

By Top10 Staff


Getting paid, on time and accurately, is a crucial part of your ecommerce site—but you already know that. What you may have questions about is how to find the best payment processor to avoid payment delays and other problems.



Choosing the right e-commerce shopping cart software means you have an efficient check-out process and both you and your customers are happy. Select the wrong e-commerce cart software, and you may wind up with a headache, lost revenue, and a boatload of other issues. Here are some ways to select the best payment processors for your e-commerce website:

Make Sure It’s Easy to Use

Before you choose a payment processor, investigate the ease of use for each processor you are considering. A frustrated customer is often a lost customer. If your payment processor has frequent glitches or customers can’t find a clear path to payment, they might exit your website without finishing the transaction. In short, online payment methods are not necessarily created equally when it comes to customer experience. Check out reviews from other online businesses or even consumer complaints about a processor to see if there are any red flags. Better yet, sign up for a live demo or free trial so you can try it out before you sign a contract. Remember that if users need to create a profile to complete a purchase, such as with PayPal, it could hurt your conversion rate because some consumers won’t be willing to take that extra step.


Consider the Security Measures

Even after you set up your site using trusted e-commerce website software, there are security considerations to keep in mind as you prepare to accept payments. Any legitimate payment processor is going to have a structure in place for protecting customers’ sensitive information—mainly their credit card details. An SSL encryption should protect all payment pages (the highest level is currently 128-bits) and an API needs to securely post data from your site. With advances in encryption ever-changing, it certainly doesn’t hurt to research the latest security measures or sign up with a processor consistently on the cutting edge of security.


Keep Your Costs Low

You won’t be able to avoid fees altogether when you accept payments as an online merchant. For each transaction that takes place on your e-commerce site, you will either pay a flat fee or one based on a percentage of the total sale. While it’s true that this translates to lost revenue, the availability of online payments stands to increase your sales exponentially, resulting in an overall gain. Some payment processors waive fees altogether for sales under a certain threshold, often $10, while others actually impose higher fees on small sales. Always read the fine print before signing on with a payment processor, and estimate the fees using your previous year’s sales. Don’t worry, there are plenty of e-commerce merchant services available that offer reasonable transaction fees.

E-commerce for small business is only possible with the aid of a reliable, trusted payment processor. You may want to consider multiple payment options, such as the ability to pay with PayPal or a credit card. While more work on your end, accepting multiple forms of payment means you can make the check-out process much more appealing to a wider range of consumers.


Starting an e-commerce site from scratch? Learn more about using e-commerce website software.






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