Just ask your web developer what your choices and options are when it comes to choosing payment services and you’re sure to get tons of answers. Generally speaking though, two in particular stand out – and it is going to be up to you which type you choose.
In a nutshell, payment gateways are what your web developer is probably most used to working with. These types of payment services essentially allow anyone and everyone to process credit card payments and various other options – for a fee.
Depending on your requirements, your web developer may recommend various specific gateways that you should look at.
In general, these payment services will differ in terms of the charges that you’re going to have to pay, and the types of payments that they’re able to process. Pretty much all of them can process credit cards – but some may be able to process bank transfers, localized payment options, Facebook Credits, and so on.
While this is a great way to start accepting payments almost immediately, at the same time payment gateways are generally used only by smaller businesses simply because they tend to charge fairly large commissions for processing payments.
This is unavoidable, and if you’re operating a small website store you’re probably not going to notice it very much. That being said, for larger businesses – you might want to opt for other payment services instead!
Credit Card Processing from Banks
Most banks offer various credit card processing services as well as other payment services alongside them. In general, while these services are much less diverse and your web developer may not be accustomed to working with them – the charges may end up being less particularly if you’re handling large quantities of payments.
But the reason why your web developer probably hasn’t handled these types of payment services is simple – they’re not easy to enroll into. In order to qualify, you’re going to need to prove that your business is able to process a certain quantity of payments, and that you’re ‘trustworthy’ enough to be allowed to operate a credit processing facility.
In a nutshell – it is a lot of work and paperwork!
If you’re just starting out and launching a small website store, these types of payment services aren’t ideal. Instead, you’d be better off sticking with payment gateways.
That being said, in the long term they may prove useful.
Now that you know the options and choices that you have in terms of payment services, you should definitely talk them over with your web developer. If you’ve hired a developer who is experience in ecommerce, they’ll definitely have ample experience and it would be worth listening to what they have to say!