In previous blogs we talked about whether you needed a shopping cart on your website and also about how a payment gateway can be used to accept payments from your customers when they checkout the order that’s in their electronic shopping cart. We also mentioned that payment gateways charge a transaction fee every time a payment is processed and this can severely impact your sales margin if the payment gateway provider’s transaction fees are high.
There aren’t any ‘free’ payment gateway services. Some payment gateway providers have free accounts (such as 2Checkout) but you are still being charged a transaction rate for each transaction (usually a percentage of the sale) and often you are also charged a per transaction fee (a flat fee per sale).
An example side-by-side comparison of payment gateway providers can be seen here. As can be seen in this comparison, monthly fees, transaction rates and transaction fees vary greatly and can have a major impact on your bottom line.
Talk to the experts at Rapidpage.ca who can help you select the shopping cart system and payment gateway provider that’s right for your business and will maximise your return on investment.