Whether you own a small local business or a global e-commerce store like Amazon, choosing the best payment platform can be critical to the growth of your business.
Payment platforms are software that serves as an interface between you and your customers. These platforms usually make customers’ payments for your goods and services smooth, fast and secure.
With over 100 payment platforms available, choosing the right one that suits your business needs can be overwhelming. This blog post has carefully selected the top 5 features to look out for when picking a payment platform.
Multichannel and multi-currency payments
From POS, ACH, digital wallets, phones, and mobile payment, developments in fintech have given birth to many ways of making payment.
The best payment platforms accept the various payment options available. The multichannel option gives your customers the flexibility of making payments at their convenience, likely leading to more revenue.
The currencies accepted on the platforms are also important, especially for businesses seeking a global market. The currencies you accept can have a direct impact on your global reach. Your payment platforms should have the following features:
- Data Analytics
Analytics is a modern feature that is changing the fintech world. This technology analyzes your payments and gives you valuable insight into your business performance and customer perception. You can as well visualize data points using graphs and charts.
Stellar payment platforms offer analytics. They give you a report of your historical performance from different locations. It aids in understanding the effectiveness of your marketing and can be an essential factor in making your business decisions.
- User-Friendly Interface
The best payment platforms are very simple and easy to navigate. Customers can access features and tools with less effort, and the payment process is adaptable to various devices.
Customers do not need to go through redundant and complex tasks to make payments. They can efficiently complete their orders with just a few clicks like payomatix.
A user-friendly payment platform can directly influence your profit, customer satisfaction, and business efficiency.
- Strong Digital Security Measures
When it comes to making payments, safety is the watchword of most customers. As a business that integrates various means of payment, you will invariably handle customers’ sensitive data. Any data breach can damage your brand image and lead to the payment of massive fines. Ensure the payment platform complies with Payment Card Industry Data Security Standard (PCI DSS).
- 24 h/24 and 7 days/7 Support
Even on the best platforms, problems can still emerge. You don’t want to keep your customers waiting for long before transaction glitches are solved. A reliable payment platform should have 24 h/24 7 days/7 proactive customer service that gives the assistance you need whenever you need it.
Conclusion
Though choosing a payment platform can be a daunting task, the results of the efforts are always worth it. An excellent payment platform will significantly impact your brand image, profitability, customer satisfaction, and the smooth running of your business. Look out for these features listed in this blog post when deciding on the best payment platforms for your business. Finally, opt for payomatix an Indian payment gateway