What are the best payment system resources for e-commerce businesses?

1 Payment system features

When comparing payment systems, one of the first things to consider is the features they offer. This could include acceptance of multiple currencies and payment methods, like credit cards, debit cards, digital wallets, and bank transfers. Additionally, you should look for the ability to create invoices, receipts, refunds, and recurring payments. It's also important to check compatibility with various e-commerce platforms, such as Shopify, WooCommerce, or Magento. Moreover, customization of payment pages, checkout forms, and branding can be beneficial. Lastly, analytics and reporting tools can help track and optimize your sales performance. To find out more about the features of different payment systems, you can look at their websites or read online reviews and comparisons.

2 Payment system fees

When selecting a payment system, it's important to consider the fees they charge. Setup fees are one-time charges for signing up for a payment system, while monthly fees are fixed amounts paid every month. Transaction fees are usually a percentage of the transaction amount plus an additional fixed amount, and chargeback fees occur when a customer disputes a transaction and requests a refund. Withdrawal fees are also incurred when transferring money from your payment system account to your bank account. You can find out the exact fees of different payment systems on their websites or by using online calculators and tools.

3 Payment system integration

When selecting a payment system, ease of integration with your e-commerce website and other software should be taken into account. This can provide many advantages, such as a unified user experience for your customers who can pay without leaving your site or entering their details multiple times. Furthermore, it can streamline your workflow, allowing you to manage orders, inventory, and payments from one place. In addition, it can reduce the risk of errors, glitches, and security breaches which could damage your reputation and revenue. To learn how to integrate different payment systems with your e-commerce website and other software, you should refer to their documentation, tutorials and guides.

5 Payment system customer support

When choosing a payment system, it is important to consider the quality of their customer support. Look for features such as multiple channels, like phone, email, chat, or social media, to contact them; accessibility of support hours; quality of support agents; and availability of self-service resources. You can find out how good different payment systems' customer support is by reading their testimonials, ratings, and feedback. It is beneficial to have access to knowledgeable, professional, and friendly agents who are available 24/7. Additionally, having access to FAQs, forums, blogs, or videos can help you answer your own questions.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?