Tips on Magento Payment Gateway Integration

With the evolution of eCommerce stores, the trend of shopping online is on the rise. However, having an attractive Magento eCommerce store is not sufficient for increasing your conversion rates. A smooth checkout process is equally important. That is why Magento payment gateway integrations have become the need of the hour. Efficient Magento payments allow customers to easily make their payments safely and hassle-free.

A Quick Idea of Payment Gateway

Before you dive into the tips in Magento payment gateway integration, let’s understand what a payment gateway actually is. In simple words, a payment gateway refers to the online business application that helps in coordinating, preparing, and executing online payments between e-merchants and customers. The payment gateways usually leverage encryption technology to ensure the optimum security of the financial information of customers.

Benefits of Payment Gateways for Your Business

Wondering why you should opt for a payment gateway for Magento integrations? In that case, here are the best benefits you must know.

• Improves data checks and lowers the risk of financial fraud
• Allows businesses to go global
• Increases the security of online payments
• Management of refunds becomes simple and easy.

Factors to Consider While Selecting a Payment Gateway for Magento Integration

When choosing the payment gateway for Magento integration, you need to make your choice carefully.

Here are the top factors to consider to make the right choice.

• Payment Options Available

One of the important factors to consider is the types of payment options provided by the payment. Customers usually have different preferences in terms of payment methods. So, you need to choose a payment gateway that offers the maximum number of payment options. Some of the widely used options include debit cards, credit cards, e-wallets, UPI, and net banking.

• Security 

Undoubtedly, you cannot overlook the importance of security. If the payment process is not secure, customers are not likely to shop from your online store again. Therefore, it is wise to select a payment gateway for Magento integration that guarantees optimum security of transactions.

• Multiple Currency Support

Currency supported by the payment gateway is yet another factor to consider. When doing business online, your customers may be present in any part of the globe. So, if your payment gateway supports multiple currencies, it will be easier for your customers to shop from your store conveniently without any problem.

• Mobile App Support

The majority of people prefer shopping through mobile apps. It offers convenience to the customers and saves time. So, make sure to choose a payment gateway that supports both mobile apps and websites.

Best Payment Gateways for Magento Integration

As per the Magento experts, here are some of the best payment gateways you can choose for Magento integration.

• Braintree
• Stripe
• PayPal Payments Pro
• Viveum
• Authorize.net
• WorldPay 

Conclusion

Payment gateways have become vital for all eCommerce business owners. However, it is important to choose an effective and secure payment gateway. Now that you have an idea of the best payment gateways and how to select the right one, it is time to get your integration done. Want the help of Magento experts? Forix can be the best solution for you.