A payment gateway is a service that processes online payments in an e-shop by card, via internet banking, or via a mobile wallet. When choosing one, compare the transaction fee and monthly flat fee, the speed of settling funds to the account, the supported payment methods including fast mobile payments, the quality of integration with the platform used, and the way complaints and returns are handled. An underrated criterion is payment success rate: gateways differ in how many transactions fail during verification, and a difference of a few percentage points has a direct impact on revenue. The range of payment methods offered should match the market – when expanding abroad, the popular methods differ from those in Slovakia. Cashless payment in advance also reduces the share of unclaimed shipments.
See also: Checkout optimisation, Payment methods by country, Order process.
