Shopping cart software and Payment Gateways are inseparable!! If a company has went online, selling of products or services on Internet, a shopping International payment gateway in Pakistan cart application is required, plus a mode to accept payments.
Let me take the liberty of differentiating between a shopping cart application and associated payment gateways. Hopping cart may be the backend software that lets you sell products online whereas payment gateway is just a service without which a company cannot accept money for goods/services sold. Personal and financial details submitted on e-store are transmitted to payment gateway service, which then securely routes the information through the relevant financial networks. Upon real-time confirmation, your transaction appears completed. Its exactly like you have attended a food store and on checkout, you're 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 they are payment gateways.
In the world of search engines and social networking, you can't control the message anymore, but you are able to control your process. On Web, with the options of shopping carts available, selection of payment gateways is enormous. A correct selection is required; else, business might end up losing money as opposed to earning profits!
A significant amount of the shopping cart application software are designed for processing orders using most of payment processing companies available over the Internet, like:
As opposed to listing many factors which may affect your business to operate efficiently, listed below are few what to be kept in mind while deciding on selection of shopping cart application with payment gateways:
Transaction fees of payment gateway: Research your options on choosing the transaction cost per sale, which generally can dent your profits.
Ability to incorporate "custom" payment option/s: Though you may not feel the need to offer other choices besides some standard ones, however, in the event that you going to sell international, your overall one might not have global presence. Or, in another case, you're looking towards expand your customer base by penetration. Therefore, it's imperative for you really to check along with your shopping cart application provider (hosted / stand-alone) about the ability to add a custom option easily, without outrageous investment!
Effect of multiple payment option: As a company owner, you've to comprehend whether offering multiple payment options is a sensible choice or it dilutes the brand value. Though you obtain a much better reach, it would eat up on your margins through the processing cost. Plus, based upon the, size of business, the consumer might like multiple payment option, however, if you are a small entrepreneur, managing multiple payment options might turn out to be always a hassle.