What do you do if your E-Commerce store is struggling to find reliable payment gateway services?

Consider partnering with a newer or less popular payment service that’s eager for business. They may offer competitive rates or unique features not found in established services. This can be a strategic move to stand out and negotiate better terms, provided you ensure their reliability and security standards meet your e-commerce store's requirements.

Evaluate your specific payment requirements, including accepted payment methods (credit/debit cards, digital wallets, bank transfers, etc.), currencies supported, integration capabilities with your E-commerce platform, security features, and transaction fees.

Payment Methods: Determine which payment methods you want to accept, such as credit cards, digital wallets, or bank transfers. Supported Currencies: Identify the currencies you need to support based on your target markets and customer preferences. Sales Volume and Order Value: Analyze your sales volume and average order value to choose a payment gateway that can handle your transaction volume efficiently. Cost Considerations: Evaluate the fees and charges associated with each payment gateway option, considering both transaction fees and any monthly or setup costs. Integration Needs: Consider how you want to integrate the payment gateway with your store platform and other tools, such as accounting software or inventory management systems

Identify what is "unreliable" about your payment gateway and research potential alternatives. Factors to consider are revenue + transaction fees, regulated industry restrictions, and whether your store can benefit from multiple options for customers to make the choice themselves.

Always start with assessing what payment modes are needed for your business and the most preferred option in the relavant market. You should see how other players in the market provide options to the customer and try to take surveys from customer to understand what they want and how that suits your business. One should evaluate all the questions within their business to see how customer are willing to pay, how much is the service charges and vendor support. How quick and easy is to deploy and start the services and support provided by the market players and many more. These question will help you to come to conclusions to few of the best fit examples and then you decide on other factors.

Exploring partnerships with emerging payment services can be a smart play for your e-commerce platform. These newer entrants are often on the lookout to expand their portfolio and might offer attractive rates or innovative functionalities not available through mainstream providers. Such collaboration could give your store a competitive edge and potentially more favorable terms. Just make sure their reliability and security protocols are up to the mark to safeguard your business and customer data.

These companies WANT TO TAKE YOUR MONEY. Present a viable use case, expect to pay a premium if you’re selling high risk items/pseudo pharmaceuticals. But negotiate. Talk numbers/orders per month/return rate etc. Seems obvious, but ask no questions and expect no answers.

Online Resources: Use online directories, reviews, forums, and blogs to explore available payment gateway services Peer Recommendations: Seek advice from other E-commerce store owners, industry experts, or consultants for insights Security and Reliability: Assess each service's security, reliability, and track record for protecting data and ensuring smooth transactions Compatibility and Integration: Evaluate ease of integration with your existing platforms and tools, such as shopping carts and inventory management systems Customer Support: Consider the responsiveness and effectiveness of customer support for troubleshooting and assistance Reputation: Check the credibility and reputation of each service within the E-commerce industry

Start by researching and exploring different payment gateway options available in the market. Look for reputable companies that offer reliable services and have a good track record. Look for reviews and ask for recommendations from others. This will help you get an idea of the reliability and efficiency of different payment gateway services.

You need to compare between Local and international payment gateways, as sometimes local gateways provide some facilities and localization better than the international payment gateways. so you need to do your research focusing on the below: - ask the E-commerce community for their recommendation. that would save time and effort. - List the types of online payment that need to be on your website. " Credit/debit - Apple pay - PayPal - etc " and make sure that the payment gateway can provide it. - payment gateway fees for each order - payment gateway policy regarding cash transfer - Consider customer support for the payment gateway - payment gateway integration with your website -payment gateway policy for canceled or returned orders

Free Trials and Demos: Try out different payment gateway services through free trials or demos to assess their functionalities. Performance Tracking: Use analytics tools like Google Analytics or platform-specific reports to measure key metrics such as conversion rates and customer feedback. Comparison: Compare the performance and user experience of each payment gateway service to determine the best fit for your business. Value Assessment: Evaluate the features, benefits, and costs of each service to ensure it provides the best value for your business needs. By testing and comparing payment gateway services, you can make an informed decision and select the most suitable option for your E-commerce store.

I don't recommend starting a free trial with different payment gateways, I do recommend doing good research. and then shortlist 3 payment gateways and then you can start with your first choice to evaluate its services. then you can decide if you need to try another gateway or not.

I believe the issue is no longer relevant, considering the multitude of reliable payment gateways and instruments available today, such as Razorpay, Stripe, PayU, PayPal, and PaytmPG etc.

Don't decide to work with international payment gateways like stripe directly without searching about your local payment gateways. as sometimes local payment gateways provide some localizations and facilities better that the international gateways

Look for payment gateway services that offer fraud prevention tools, chargeback protection, and robust security measures to safeguard against fraudulent transactions and ensure PCI compliance. Consider the scalability and flexibility of the payment gateway service to accommodate your business growth and adapt to changing payment trends and technologies. Evaluate the pricing structure of each payment gateway provider, including setup fees, transaction fees, monthly subscription costs, and any additional charges for premium features or services.

Look for processors with a good reputation and positive reviews from other businesses. Compare the features and services offered by different processors and make sure they align with our needs. find the most cost-effective option and easy integration option Look into the level of customer support offered by the processor, including availability, response time, and support channels. Make sure the processor has strong security measures in place to protect your customers' information and prevent fraud.

Consider altering your product. In today's world, if you are struggling to find a payment processor platform, it's most likely because your product is deemed sketchy.