Which is the best payment gateway for both local and international transactions?

Sales, revenue, customer service are the core business insights that every business owner will think about. For that reason, choosing the best payment gateway for international & local transactions for your business is the most considerable step for every business owner.

When money is involved in a business, you want your customers to have the best purchasing experience on your website as seamless and positive as possible - which includes the essential steps, the checkout process.

Which is the best payment gateway for international transactions

Using the best payment gateway helps you to reduce business expenses and time rather than build up a beautiful website and high quality purchasing web hosting. Some payment gateways now support the business to customize their own checkout page which enhances business brand identity and builds up trustful inside customers. The more convenient the checkout process, the more reliable customers will purchase your products.

So what is the main key to achieving a positive purchasing experience? A solid payment gateway that offers an easy-to-use tool for processing sales.

Discussion: What is the definition of a payment gateway and how does it work? Why use a payment gateway? What needs to consider before choosing the most suitable payment gateway? What are the best payment processors?

1. What is a payment gateway?

For the simplest understanding, payment gateway is a service that handles transactions between two parties, for example, the seller and buyer. The service accomplishes the payment by transferring payment data, like a credit card, from the customer to the merchant’s preferred bank account.

Currently, there are hundreds of payment services to choose from; so how to choose the most suitable payment processing service for your business and customer’s experience is a tough question for managers.

2. What are international transactions?

An international transaction is a cross-border trade agreement or a credit transaction that requires settlement in a foreign currency is referred to as an international transaction. The settlement date is the final stage of a typical international transaction involving the exchange of goods or services.

3. Why should businesses use the payment gateway for international transactions?

Payment gateway will take in charge the top priority task: Secure sensitive information - like credit card data which helps customers and businesses get certain standards for data security online, protect the transaction between you and your customers.

Additionally, payment gateways save you time and work, removing the need for you to manually input info received on your end. They also provide flexibility in different types of currencies customers can use. And flexibility is good for the chance of sales by widening accessibility for customers with a variety of different payment types. There’s a true fact that customers are likely to abandon their purchasing process due to a lack of payment options. So, creating a seamless shopping experience for customers would help your business raise revenue.

The payment gateway for international transactions

What consideration when choosing the appropriate payment gateway which qualifies all your business needs?

With the right decision making, the payment gateway would become the best payment solution for your business. But what factors let you know that you have found “the one”?

Here are the core factors you should consider when choosing your best payment gateway:

3.1. Accepted Payment Method:

There is a fact that the easier you make your payment for customers to purchase, the more they are likely to finish the process. By linking your site with a payment gateway that incorporates a wide range of payment methods, you are widening your business sales network. Some research shows that more than 50% of online customers said that customers would cancel the purchasing process if they couldn't use their preferred payment method.

In addition, the study participants said they would feel more comfortable shopping from a business that provides international transaction methods.

3.2. Support currencies:

If you want to make international business, your payment gateway should support various popular currencies including EUR/USD/GBP/SGD/AUD/NZD. Different currencies enhance customer reliability in making purchasing decisions because it will make the process become simpler and easier.

3.3. Compatibility:

Obviously, significant thought is the manner by how well your gateway will integrate with your present platform - both from a technical and design perspective. If the gateway took too complicated tricks to your current system, you might have to think again.

There are some special payment gateways (i.g. PayCEC, Stripe) which offer a useful tool to customize your checkout page to match with your brand identity. Remember, don’t make your customers’ purchasing experiences affected by confusing factors.

3.4. Pricing:

Like any online service, there are fees related to third-party online payment gateway. For some platforms, users have to pay transaction fees - so pay attention to the service cost and make careful research before integrating it with your site in order not to experience unexpected charge fees.

These expenses charged can include transaction, statement, chargeback, merchant account charge, etc. depending on different services that your business decides to use.

3.5. Secure system:

There would be some hidden fraud trying to steal sensitive information from users. A good payment system will provide a high-qualified fraud protection program including preventing fraud, protecting user’s money and purchasing process. High-quality secure systems not only increase the conversion rate for your business but also offer a seamless online payment for customers.

The most famous fraud protection systems up to now are 3-D Secure, Tokenization, Real-time risk management, Fully PCI DSS. For more information please visit: https://www.paycec.com/products-and-services

3.6. Payment location

Some payment gateways allow users to complete within the checkout process on the site, while others lead users to a different site to complete the process. Some gateways provide an API (i.g. PayCEC, PayPal) which incorporates directly to your site, others bring customers to third party sites. Whatever you choose, be sure what will bring the best checkout experience for buyers - if the customer trusts the site, it is more likely they would finish the transaction process.

4. Which payment method is the best for paying globally?

Credit cards is the most common means for making online purchases around the world, despite the fact that eWallets have eroded their market share in recent years. In 2018, cards accounted for 41% of all eCommerce transactions worldwide, with established eCommerce regions like Europe and the Americas showing a clear preference.

Card transactions have been regulated for many years by worldwide or regional compliance standards as well as consumer safeguards granted by payment processors, such as those upheld by American Express, Mastercard, and Visa.

Given some of their additional capabilities, credit cards have a slightly higher preference in Western countries than debit cards. Some customers, for example, are enticed to use credit cards in order to participate in the bank's incentive programs. Credit card spending has a greater impact on a user's credit score in the United States, which serves as an additional incentive to utilize it as an online payment option.

Card's claim to the top rank in terms of customer preferences for eCommerce payment methods has been significantly questioned in recent years, as we'll witness in the coming years.

Which payment method is the best for paying globally?

5. Selecting the best payment gateway

Following some famous online payment research, up to 46% of cart cancellations occur at the payment stage checkout. If the payment service didn’t satisfy the customer expectations, your business will rapidly lose sales.

Here below are the Top 5 famous international payment gateways for you to browse, one of these below might be suitable for your business solutions.

5.1. PayCEC

PayCEC: The best international payment gateway

Key Features:

• PayCEC is an online international payment gateway which is owned by PayCEC and has many years of experience in the financial payment field.
• It offers multiple payment options, easy integration, high secure system, live support, and competitive price.
• Using API driven to integrate with your own website, customized payments site into a familiar look and feel the same as the current site.
• Support for devices, get into quick and simple payment wherever you are.
• Best choice for both local and international transactions.

For more information, please visit: Online payment gateway

5.2. WePay

Key Features:

• WePay supports businesses to handle complex payment requests, like various payers or crowdfunding campaigns and works for sites in different sizes.
• Vendors for e-shops with global clients, as well as domestic.
• WePay offers an accommodating support centre for business customers.

5.3. PayPal Payment Standard

Key Features:

• PayPal boots up to 40% checkout conversion rate for businesses.
• The payment gateway offers fraud protection, live support, and cart compatibility — working with some major shopping carts and e-commerce platforms.
• Scales to your business, regardless you're a high-traffic or developing local business.

5.4. Authorize

Key Features:

• Authorize is the service which takes into account the business unique needs, like recurring or subscription billing.
• Offer clients a seamless — and secure — shopping experience with a verified safety label from the site.
• The payment gateway also has an Advanced Fraud Detection Suite which is a free safety service.

5.5. Stripe

Key Features:

• Stripe is one of the best payment gateways in modern-day e-commerce for secure, customizable, and easy-to-setup.
• Allowing customers to buy products directly from a tweet or saving card information for one-click checkouts.
• Stripe’s Sigma service allows businesses to easily view sales data and analytics.
• Providing insight which can help your business refine and improve operations for increasing effectiveness and growth.

6. Which is the best payment gateway for international transactions?

PayCEC is an online international payment gateway with rich experience in the financial payment industry.

You must be cautious while selecting the best payment gateway, and PayCEC is the best option for your company because of some special features:

• Reputation and Reliability

The best payment gateway for international transactions is critical for customers to be able to trust you with their payments. PayCEC is a reputable and trustworthy company that allows customers to make payments without concern. Thousands of global merchants rely on it for international and local transactions.

• Support for Multiple Currencies

When a customer may pay in their own currency, it gives a comprehensive experience. PayCEC accepts more than primary currencies from all over the world namely EUR/ USD/ GBP/ CAD/ AUD, as well as all of the main countries.

PayCEC is the best payment gateway for international transactions because international customers can pay with a credit card in their own currency, and the merchant will be paid immediately into their bank account.

• Payment Security

Customers in the United States, Europe and abroad can use PayCEC to make secure payments. It adheres to the strictest security standards to ensure that merchants and customers may conduct business in a safe environment.

It complies with the PCI DSS. It is also SSL certified and adheres to EEA requirements. In simple terms, when using PayCEC to process a payment, the payment, and data security is guaranteed.

Fraud prevention methods, a dispute resolution center, chargeback prevention support, and other security features are available.

Payment Security of the best payment gateway for international transactions

• Checkout is a breeze.

People want to be able to pay quickly and easily in this fast-paced environment with simple access to high-speed internet. PayCEC checkout works in this manner.

It includes a simple and user-friendly interface that makes domestic and international transactions as simple as possible. For its payment infrastructure, it is the best payment gateway for international transactions.

• Accessibility

Registration, onboarding, integration, and post-activation with PayCEC are all simple and convenient. Accepting online payments with PayCEC is simple in general.

Other Key Features:

• It offers multiple payment options, easy integration, high secure system, live support, and competitive prices.
• Using API driven to integrate with your own website, customized payments site into a familiar look and feel the same as the current site.
• Support for devices, get into quick and simple payment wherever you are.
• Best choice for both local and international transactions.
• For more information, please visit: Online payment gateway

PayCEC offers an all-in-one solution and the finest customer experience as the best international payment gateway. From sign-up to post-activation, everything runs smoothly. Its merchant dashboard assists with transaction data, graphical representation, and management, as well as refunds and settlements. PayCEC is the most reliable international payment gateway for both domestic and foreign consumers.

Contact PayCEC right now to discuss your business needs and perhaps receive the best solution for your payment.

7. How do I withdraw funds from international payment gateway?

You can choose 2 below ways to withdraw funds from the best international payment gateway:

• First way:

Step 1: You can log in your merchant account of your best international payment gateway

Step 2: Access to balance menu then choose “payout” and then make your request with a specific amount of money and currency.

• Second way:

You can send email to [email protected] to require payout. Please, type clearly with more details about your merchant ID, passport, the amount of payout, currency, and initiation date.

8. How do I accept payments from international customers?

To accept from your international customers, you need to find the best payment gateway for international transactions with multicurrency acceptance. Furthermore, you need to sign up your merchant accounts and a business bank account to collect payments so you can withdraw funds which is suitable for your currency.

PayCEC is the best payment gateway for international transactions which is selected by many international merchants around the world. You can easily set up a merchant account on PayCEC by following steps below.

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Prepare your company profile including:

• - Company website
• - Business information
• - Business activities

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Our Relationship Manager will contact you and support you in processing and integrate your merchant account

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PayCEC Team

• [email protected]
• +44 2032 864370
• www.paycec.com