Having an e-store can be a lot of work, there are many different components that go into it, some we may not even think of right off the bat. One huge component of an e-store is a payment gateway. Imagine having a store with no way for your customers to pay, just a fancy shop exhibiting all your parts and accessories, but not for sale. A payment gateway allows you to start making those sales. Consumers can now make purchases any time, any where, and that’s what you want.
Let’s start with what a payment gateway is. Have you ever shopped for anything online? The last part is the checkout process; where you put in your billing and shipping address and your form of payment, which is usually the credit card information. Well, that whole section where you input your card information is the payment gateway. It allows us to make sales online and charge a customer’s credit card. It is the doorway the consumer walks through to pay for his/her items.
There are so many different payment gateways out there; how do you choose the right one? Well, you have come to the right place, this article should help answer many of the questions you may have to help you make the right choice. Some of the major payment gateways are Quantus One, PayPal Pro, CenPos, and Authorize.net. All of these gateways have the same end goal, which is to allow you, the seller, to be able to make sales online by being able to charge your consumers. However, they all vary with what they offer and how they work with the e-store. The best way to compare all these is the old fashioned way; make a list of the pros and cons. This way we can see how each one differentiates and how.
Quantus One is a payment gateway solely designed for automotive dealerships and to meet their needs. Some of its advantages include:
- Easy enrollment process with a trained representative.
- Built-in fraud protection that makes Quantus One reliable and secure.
- Online account access management and reporting;
- Lowest Industry Prices
They also allow you the dealer, to charge the customer when the product is ready to be shipped as well as the ability to edit shipping prices if need be. Other gateways charge the customer immediately at checkout, make it a lengthy process to make any kind of edits to orders already placed.
- Quantus One is a newer company so people might not have heard of it. And that can make some hesitant.
Next we have PayPal Pro, which the majority of us have heard of. It is the most common gateway; here is what it offers:
- Customization of your checkout.
- Advanced fraud protection.
- Can access the funds quicker
- You have to call them for Refunds, a tedious and time consuming process.
- You cannot make changes to an order once placed, i.e, changing shipping prices.
CenPos is another payment gateway that is used in the world of e-commerce.
- Secure, uses a multi-layer approach to ensure security.
- It is simple so you can focus on your business and they do the rest.
- Has many methods of payments incorporated into the system.
- Complicated gateway implementation process.
Lastly, we have Authorize.net, they have been around since 1996.
- Cheapest Monthly Payment
- Customer information manager (CIM); customers can save billing, payment, and shipping options for future orders.
- 24/7 Customer Support Team
- There are more fees involved with this particular payment gateway.
As you can see, all of these payment gateways have a lot to offer. It’s just a matter of trying to figure out which one will better fit your business. Since we are in the automotive world, it makes more sense to go with the one that specializes in just that. As consumers or even just humans, we want to go with what makes the most sense. So why wouldn’t we go with a payment gateway that is specialized for this industry.