Image courtesy of Keith Williamson
Image courtesy of Keith Williamson

If you buy and sell things online, you will have a range of different online payment systems to choose from. There are many differences between them and it is worth thinking really hard about which one you will choose to use. You may even decide to use several so that your customers have a choice.

The cost of them could be a big factor in deciding. Some will charge a monthly fee and a transaction fee but others will just charge a transaction fee. The fee could be a flat fee per transaction, a percentage of the value of the transaction or both.  However, those fees will differ and you will need to consider which will be the cheapest for you, depending on how many transactions you have and what value they are. It can be hard to predict the future, but you could calculate on past sales or predicted sales to see how much each would cost you in total and therefore which would be the best to choose.

As well as price you also need to think about trust. Not only will you need to trust the brand that you choose, but your customers will need to as well. It may be that you go for a really well-known brand that you hope because people have heard of it, they will trust it or one that you know is trusted among people who use it. It can be quite a hard decision to make and some people even pick more than one so that they can attract more customers.

It is also important to make sure that the company give a good service of course. You want to make sure that they treat you well by processing payments efficiently and dealing with any problems you have well. Take a look at reviews, if you are choosing, so that you can make an informed decision when you are choosing which one to go with.

You want to make sure that the service is always available as well. It would not be good if your customers could not pay because the company that you used had too much downtime, for example. It would lead to you losing out on business and potentially return business as well. Also people will not recommended you if they cannot buy things form you. This means that it is so important to make sure that everything is working properly and therefore that the transactions can go through when they are needed.

It can be a difficult decision and it is important to make sure that you make it carefully. Read reviews and if you can talk to people that use the different services. Look at your competitors and see what they use as well as you may want to be the same as them to see if you can encourage their customers to shop with you or you could do something different for those that do not like the service that they have and get them to shop with you.