Main features of a safe payment gateway
As we shift towards more cashless transactions, online payment has been a booming option for payment especially among millennials and Gen Z. To add, the COVID-19 pandemic has pushed people to limit the use of cash transactions and opt for digital payments.
If you decide to do more cashless money transfers, try looking for a payment provider that has the most advanced payment solutions, so making transactions online will be effortless. Paxum can provide you a seamless transfer with fees as low as 1 USD. If you want to expand your options, here are some features you can check to ensure you that it is a safe payment gateway.
A payment gateway’s number one priority should be ensuring that their client’s private information is secure from any form of infiltration from hackers or getting details sold to other people. This is important because it benefits both you and your client. You have to select an app that has all the necessary controls in place and any safeguards to cover any weaknesses not hit by the controls in place.
You can also add more security controls such as segregation of duty for different users in order to avoid any further infiltration of any important data and better safeguarding of your cash balances. Regular check and balance should also be done in order to test the security and immediately address any noted security weaknesses.
The application should be able to easily be integrated to your current platform. If the gateway has this feature, you can easily transfer records without worrying about any duplicates or missing transactions. Errors may still happen, yes, but can be mitigated with the help of the plugins and can help you finish the transition efficiently. Any new cash flow will now start showing up in the digital wallet or bank you are using.
Aside from seamless integration, a user-friendly interface should also be considered in order to avoid any confusion by first-time users and lessen cases of management intervention to address any errors done.
Complete and timely statements
With all the switch to being paperless, being able to store complete and accurate reports readily available to its users is a great advantage over traditional payment gateways. Aside from digital copies of transactions, you can also easily be able to reconcile any open items and be able to use the data to make more informed business decisions and help you grow your business.
Timely reporting should also be considered in order to avoid any discrepancies in the reports. You should also consider the speed of the money transfers from the client to your accounts to experience a more hassle-free transaction.
Paxum has provided several of its partners the highest quality of services with regards to payment gateways. Security has always been a priority, so you are sure that your data and money will not go anywhere. Aside from offering you a safe payment gateway, Paxum also offers a wide variety of e-wallet services that you can consider.