Three Important Considerations When Selecting an Online Payment Service

When you decide to send or accept online payments, the next step for you would obviously be to choose a payment service that suffices your needs. While there is no lack of payment service providers out there, finding the right one can take a bit of time and research on your part.

Poor decision-making in regards to payment processing capability could have long-term adverse effects, which you would not want to experience. So, how can you choose a provider that could be both beneficial to you and your clients? Keep on reading to find out.

Three critical considerations to keep in mind when selecting an online payment service

  1. Support for merchants in your country

There is no way you can choose an online payment partner without confirming if they support organizations operating in your country or not. This has to be the prime consideration because many payment providers such as BluePay, Authorize.Net, Moneris, and Global Payments require their clients to have a merchant account in either the United States or Canada. Google Wallet is also available to merchants in the US.

So, you have to chop down the list of possible payment partners based on the country your organization is located and then proceed to enquire about other options. Remember, the key to providing flawless payment service lies in perfect compatibility.

  1. What security features do they offer?

Apart from the basics, additional features such as antifraud protection, automatic payment, chargeback management, etc. also matter in the long run. While the payment provider may offer some of these features as default, some will be available with payment of an additional fee or a higher rate of percentage. These are of course only the tip of the iceberg because your online payment partner should also have a quality support team to assist you 24/7.

Without quality support and top-notch security options, no online payment service can withstand the demand of the market because the chances of scams and fraud taking place always run high. When it comes to best support and security, our go-to choice is

  1. What is their fee structure?

Once your list of potential online payment service providers has been cut to a manageable size, start comparing the prices they charge. While few payment services charge a certain amount of fee per transaction, payment systems such as PayPal, Authorize.Net, Moneris, etc. also charge a monthly fee for your business payment exchanges. The transaction fee can either be a percentage of the total transaction value or a flat charge.

To take PayPal as an example, they typically charge a fee of $ .30 per transaction plus a percentage between 2.2% and 2.9% of the total transaction value. A transaction of a total face value of $ 100 would cost you $ 2.50 to $ 3.20 as processing fees, depending on the number of transactions your site has processed that month.


There are a lot of other factors that come into play when selecting an online payment service provider, however, keeping at least these three in mind will make the selection process a bit easier. Take your time to research and go through the pros and cons of different providers and make your choice carefully.