Tips for choosing a payment provider for your Australian Business
When setting up your online business or transitioning to an online module in Australia the last thing you are probably thinking about is which payment provider to use for taking payments. You may be spending more of your time focusing on finding the most appropriate shopping cart solution for you and your customers, however making sure that you have the right payment solution to compliment your shopping cart is key.
Here are some top tips for to consider when selecting a payment provider for your shopping cart solution in Australia.
Choose a Partner that is already integrated with your chosen Cart
To make setting up your shopping cart quick and easy, it is important to note whether the Payment provider integrates already with your chosen Shopping Cart. To save time shopping around, furst check what Providers are available and conduct your research from there.
If you are able to download the Payment Provider module at the same time as setting up your Shopping Cart this will help save time and means that you are ready to go for your online launch.
Choose a Premium Partner to save on Download Fees
There may be multiple partners to choose from but to save download costs, make sure you are picking a Provider that is closely aligned with your Shopping Cart provider. If you can, try to find a Premium Partner where you can download and integrate the payment solution when setting up the cart.
Choose a local Provider that also provides Support
An important aspect of picking a Payment Provider is to ensure that you and your customers have access to support. Phone support is ideal to provide answers to any questions your business or your customers may have.
Check the support hours and support methods offered by the Providers and pick one that will be able to support your business during the times you need.
Review the Providers Pricing Structure in detail
Although it may seem like a small fee, once your store starts processing lots of items the fees add up. It is important to make sure that you have an affordable transaction to service ratio and also make sure that there are no hidden costs for you or your customers
Security Level of the Provider
When dealing with banking and credit card information it is important that your provider offers the highest level of security. Level 1 PCI DSS Compliant is the industry standard and what you should look out for when researching the partners
Reporting on Funds
It is important to ensure that you have live reporting available through a portal to view funds that have been collected, rejected, approved and settled. Requesting some snap shots from the Providers to see what is available for reporting purposes
Acceptance of All Cards
Most importantly you want to be able to offer your services to all clients, including those who may have a less recognised Card. Ensuring that your Provider supports all or majority of Card Methods will help reduce buyers leaving at the checkout
Find out more about how PayChoice can assist with your payment collection.