As the world is moving towards cashless transactions, online payment gateway plays an important role in doing so. So, here in this blog we share 5 Features of Online Payment Gateway to look for.
Due to the last few years or you can say because of the pandemic, people are limiting their cash transactions and opting for digital payment systems.
So, for a business, it is compulsory to have the best payment gateway.
Therefore, if you run an online business or an eCommerce store in Malaysia then you need to have the Best Payment Gateway in Malaysia installed to do money transactions online.
However, choosing the best payment gateway is not that easy. There are a variety of options.
That’s why here in this article, we will discuss, 5 Features of an Online Payment Gateway to look for while choosing the best payment gateway in Malaysia for your business.
Before that, we will discuss, what do payment gateways do?
Let’s start with it.
What Do Payment Gateways Do?
A payment gateway is an integrated system that helps your online business to make or receive payments through various payment methods.
Any small or large business accepting virtual payments, the volume doesn’t matter, needs to have an online payment gateway to ease the process.
As the popularity of online payments increases day by day, the cases of fraud also consistently rising.
Moreover, a payment gateway also minimizes the risk of fraud and helps your business with encrypting transactions.
Therefore, for online businesses, a payment gateway is a must-have system to protect their business and also their customers’ money and privacy.
And for that, you must have the best payment installed in your online business.
In the coming section, we will discuss 5 Features of an Online Payment Gateway to look for while choosing the best payment gateway in Malaysia for your business.
Let’s start with it.
5 Features of Online Payment Gateway
We know there are various online payment gateway options you can look for.
But not every payment gate is best for your online business or your customers.
So, what features you should look for to get the best payment gateway in Malaysia?
Here, are the 5 Features of an Online Payment Gateway to look for while choosing the best payment gateway in Malaysia:
#1. Charges and Fees
Every business wants to get maximum profit at the end of a month or any time period.
And for that, the business needs to lessen its expenditure, without decreasing the value they provide to customers.
Therefore, they always ask, which payment gateway is cheapest and best in Malaysia?
And we always answer that the cheapest payment gateway and the best payment gateway in Malaysia is Mobi.
Mobi offers the lowest commission rate in the market. It also offers free setup, no annual fee, and free developer to assist in API integration worth RM 3,000.
#2. Security
The most important feature you should look for in an online payment gateway is security.
Security is important not only for your online business but also for your customers.
Every payment gateway in Malaysia must ensure the security, integrity, and privacy of the business and customers.
And when we researched for the most secure payment gateway in Malaysia, we found Mobi.
Mobi offers the best security, integrity, and privacy for the business and its customers.
#3. Quick Processing
In the last few years, we have seen online payments being used for transactions.
However, cash transactions are vanishing from the market day by day and digital payment system is becoming the dominant choice.
Therefore, it must be fast and have a quick processing system.
Because nobody wants to wait and waste their time especially when they spend money and have unlimited options from where they can buy.
So, if you want your customers to stick with your business then you must have the fastest processing online payment gateway in Malaysia.
#4. Multiple Payment System
There are a variety of payment options that a customer use in the market.
The multiple payment systems include visa/MasterCard, debit/credit cards, PayPal, and so on.
So if you are looking for the best payment gateway in Malaysia then you must consider the multiple payment system features in an online payment gateway.
According to us, Mobi, the best payment gateway in Malaysia, offers every major payment method including FPX, and online banking payments in Malaysia.
#5. Friendly Dashboard for Merchants
The biggest pain point for business owners is to have records of every transaction they do.
At the end of the day, they must have the records of their money like where they came from and what are the pending ones.
This can provide them with complete command of their transaction or their cash flow, accounts, and events.
Therefore, the best payment gateway must have a friendly dashboard for the merchants.
And according to reviews and rankings, Mobi has the most friendly dashboard for its customers or merchants.
Now, you know the 5 Features of Online Payment Gateway to look for while choosing the best payment gateway in Malaysia.
Conclusion
From this article, we know about online payment gateway, how it works, and the Features of payment gateway that it must have.
You can also understand the importance of a secure payment gateway for your business.
Now it’s time to choose the best payment gateway for your online business by considering the 5 Features of Online Payment Gateway.
If you are an online business owner or run an eCommerce store in Malaysia, then you must need the best payment gateway in Malaysia.
According to customers’ reviews and rankings, Mobi is the best online payment gateway in Malaysia with all the features mentioned above.