Payment Gateway

What Exactly Is a Payment Gateway?

When you sell your products and services online, it is vital to get a payment gateway service installed. Our service provider is essentially a credit card terminal for your website. After a customer purchases something from your website, Transparent’s payment gateway service will send the transaction to the processing bank for authorization. When the bank receives the authorization request, they will either approve or decline the request. If the transaction is approved, the bank will deposit the funds directly to your merchants account.

What Are the Benefits of a Payment Gateway?

Customers Will Stay on Your Website: Although third party payment processing facilities, like PayPal or Amazon, work well, they will redirect your customers to a separate website to make a payment. Some customers will feel uneasy about this and might abandon their payment altogether. With our payment gateway service, customers will be allowed to stay on your website. All their private information will be kept on your website, secured through SSL or HTTPS, which will protect the customer’s information. This also means that buyers will have to take fewer steps to purchase things, saving them a lot of time.

It Provides Secure Transactions: When you install our payment gateway system, you can always count on secure transactions. Our payment gateway uses a strong encryption system that protects private data and prevents fraudulent transactions.

You Will Have Widespread Customer Base: With a payment gateway service, customers from all around the world will have access to your products and services. People in international countries can purchase products and services on your website. The larger customer base you have, the more potential revenue you can receive.

It Provides Faster Transaction Processing Time: When you have our payment gateway service, the transactions will be processed much faster than manual transactions. They can make a full transaction just by clicking their mouse a few times.

It Can Reduce Costs: Another reason to consider our payment gateway system is that it can reduce costs. For example, when you sell your products or services online, you will not need to acquire additional store space. Transparent offers a Savings Calculator so that you may see for yourself how much you can save with us.

It Provides Convenience: Some customers are just too busy to stop by your store at normal business hours. If you have our payment gateway on your website, consumers can purchase items whenever they want. This provides a lot of convenience and will encourage them to buy products from your company.

What Are the Costs of a Payment Gateway Service?

Before you set up a payment gateway service, it is important to be aware of all the costs.

Monthly Fees: The majority of payment gateway services will charge a monthly fee, no matter how many transactions you have a month. If you have extra functions or services, you will have higher monthly fees. For example, your monthly fee will likely be higher if you enable auto-billing. With Transparent, there is a small monthly fee of $49.97 for the ‘Pro’ plan and $99.97 for the ‘Elite’ plan.

Transaction Fees: Every time a transaction is made on your website, you will be charged a fee. With Transparent, the fee is between 9 and 19 cents per transaction.

Setup Fee: When you first sign up for a payment gateway service, you will likely have to pay a setup fee. The good news is that Transparent does not charge you a setup fee.

At first, these costs might seem a little frightening. However, you have to think about how much money you will save in the long run by getting our payment gateway service. You will not need additional storage space and can have a more widespread customer base, so you can make more profits with our service.

How Do I Choose the Right Payment Gateway Service?

There are many payment gateway services out there, so it can be difficult to decide which one to go with. Here are two things you should consider when choosing your payment gateway service.

Credibility: Before you choose a payment gateway service, you need to make sure it has a good reputation. If the company that provides the service does not have any credibility, you probably will not get what you need and want. You can review consumer reviews and testimonials on our website as well as searching for our company on third-party websites. If the company has a fair amount of positive reviews, it is a good sign.

Level of Support: It is also important to choose a payment gateway service with a decent level of support. If something goes wrong with your service after normal business hours, is there someone you can contact right away? If someone is not able to fix the issue in a timely manner, it can make you lose customers.

Experience: Experience is another factor you should look for when choosing a payment gateway service. The more experienced the business has the better quality you will receive from your service.

Software Efficiency: A good payment gateway service will have software that is fast and up-to-date. The software should be tested several times to check for errors or flaws.
Debit Card and PayPal Processing: If you prefer to make your purchases through a debit card or PayPal, you should choose a payment gateway service that supports these forms of payments. Processing these transactions is entirely different than processing a standard credit card.

If you are having trouble deciding on the right payment gateway service, give Transparent a chance. Our company has been providing merchant account services for years and will provide you with great service. The great thing about Transparent is that we are upfront about all their fees and do not charge extra fees. We believe in giving our customers a great payment gateway service at an affordable price. If you ever have any issues with your payment gateway service, our support team will always be there to assist you.