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Payment Gateways Brings Money For Shopping Carts

Posted by fareedy on July 14th, 2020

Shopping cart and Payment Gateways are inseparable!! If a small business has decided to go online, selling of products or services on Internet, a shopping cart is needed, and also a mode to just accept payments.

I'd like to take the liberty of differentiating between a shopping cart and associated payment gateways. Hopping cart is the backend software that lets you sell products online whereas payment gateway is really a service without which a small business cannot accept money for goods/services sold. Personal and financial details submitted on e-store are transmitted to payment gateway service, which in turn securely routes the data through the relevant financial networks. Upon real-time confirmation, your transaction appears completed. Its like everyone else have attended a food store and on checkout, you are asked for mode of payment - cash or card or voucher. For your convenience, store has partnered with different agencies for being able to accept money, and these are payment gateways.

On earth of search engines and social networking, you can't control the message anymore, but you can control your process. On Web, with the options of shopping carts available, range of payment gateways is enormous. A correct selection is needed; else, business could end up losing money rather than earning profits!

A good portion of the shopping cart software are capable of processing orders using most of payment processing companies available on the Internet, like:

As opposed to listing many factors that will International payment gateway in Pakistan affect your company to run efficiently, here are few things to be taken into account while deciding on range of shopping cart with payment gateways:

Transaction fees of payment gateway: Do your research on choosing the transaction cost per sale, which generally can dent your profits.
Ability to add "custom" payment option/s: Though you could not feel the need to offer other options aside from some standard ones, however, if you going to sell international, your present one might not have global presence. Or, in another case, you are looking forward to expand your customer base by penetration. Therefore, it's imperative for you to check together with your shopping cart provider (hosted / stand-alone) about the capacity to put in a custom option easily, without over the top investment!
Effectation of multiple payment option: As a small business owner, you have to understand whether offering multiple payment options is a clever choice or it dilutes the brand value. Though you get a much better reach, it could eat on your margins through the processing cost. Plus, based upon a, size of business, the client might like multiple payment option, however, if you are a small entrepreneur, managing multiple payment options might turn out to be a hassle.

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Lolli is a rewards application that gives you bitcoin for shopping at your favorite online stores.

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