Steps to be followed to choose the right Cryptocurrency Payment gateway

An online payment gateway is a link that connects your bank account to the platform where you need to transfer your money.

A Cryptocurrency payment gateway software that authorizes users to conduct an online transaction through different payment modes like credit card, debit card net banking, UPI and other online wallets

The payment gateway takes over the role of the third party that securely transfers your money from one bank to the merchant payment portal.

Now let us know the steps that need to be considered for selecting the right payment gateway for your business.

Steps to be followed to choose the right Cryptocurrency Payment gateway

Transparent fee structure

One must understand the fee structure of a service provider before signing up. There might be hidden fees associated with them. 

Some of the gateways charge fees for each transaction, and some have a monthly subscription fee for a fixed number of transactions.

It is necessary to check whether the payment gateway supports both recurring and one time payments. 

Automatic recurring billing support

If you’re giving the customer access to content through paid membership, your gateway should support automatic payment for recurring plans. It is not your customer has to revenue manually each month, which can be a bad experience.

Some gateway offers automatic retry so that users don’t have to collect all the failed payments manually. The customer subscription will not be terminated due to the payment failure but will remind in a waiting status until the payment details are updated.

Multi-currency processing

For your business, if you have customers globally, then it is necessary that a gateway provider should support the multi-currency transactions.

Your payment gateway does not have any geographical restriction and should support international shoppers to access your business or brand.

Website integration

The most important thing is integrating the payment processor with your own website and with different cards and banking services. 

You must choose a provider where your customer’s process checkout upon the gateway providers site, pay the bill, and the gateway provider sends them back to your website once the transaction is made. So it is essential to keep the integration simple.

24/7 Customer support

The Crypto payment gateway service provider must render you with excellent customer service that supports your client and work 24×7 because they are dealing with your customer’s money and your trust. 

Over to you

The payment process difficult part in your business that you can’t afford to take a hit and miss approach. We hope that with all the points mentioned above, you will identify the best one available in the market that can save your money and keep your customer happy.

Published by Katrin Kunze

blockchain and crypto trader

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