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#7 Mobile Friendly
At least 76% of shoppers in the US purchase things online via smartphones.

You must create responsive and adaptable interfaces that can flexibly adjust to the different screens and resolutions.
If your user faces friction while accessing the payment on mobile devices, they will abandon the cart immediately.
Choose a payment gateway that positively impacts a mobile user.
#8 Settlement Period
You must assess the settlement period while selecting the payment gateway. It is the time taken by the payment gateway to move the funds into your bank account.
Opt for shorter periods as that can impact your cash flow positively
Look for gateways that offer seamless settlements that improve business value
Ensure the settlement period is aligned with your business’s financial needs and supports your cash flow goals.
#9 Customer Support
The payment gateway is a system that can face technical glitches and other issues. Your customers may grapple with payment-related issues, which aren’t internal to your business.
The provider’s support system can help you overcome the issues and enhance your customer’s experience.
They should offer diverse support channels to resolve your queries.
know the ideal response time and see if the service provider matches the standard
Look for providers who are available and accessible 24/7 through the support channels.
Proactive customer support can minimise errors and improve the reliability of these transactions.
#10 Customizations
Your business may not pose the same requirements as your competition. So, your competitor’s payment gateway may not support your goals.
Assess the customizations and flexibility offered by the payment gateway.
Check if there are features that can help personalise the checkout page.
Ensure the checkout system is aligned with your brand’s identity before proceeding with the selection.
Top 3 Payment Gateways
PayPal, Stripe and Square are reigning in the payment gateway niche. Here’s an overview of all three.
#1 PayPal
This is one of the leading payment gateways that has gained a global following. You can use the platform to foster secure transactions and minimize the risks. It is best suited for small and medium-sized businesses aspiring to a global reach.
It’s versatile and embraces all the payment methods including debit and credit cards
It integrates with eCommerce websites and applications
It extends a buyer trust program that improves credibility and reliability.
The gateway supports multiple currencies and offers your business global reach.
#2 Stripe
Stripe is developer-friendly and can help build authoritative payment solutions. It is suited for all business sizes and types. You will find an array of payment solutions with this gateway.
It provides developers with a range of APIs and tools for easy customisation.
You can use the payment gateway to manage the subscriptions or recurring payments.
It supports international transactions and ensures quick settlement periods.
It is optimised for small devices, which makes it a complete solution.
#3 Square
Square is simple and versatile. It is best suited for small businesses and individuals. It helps with payments and invoicing, thus streamlining financial management.
It facilitates in-person payments and seamlessly records them into the system.
You can use it to create invoices for recurring payments and process them efficiently.
You must pay a flat fee for every transaction
You can integrate it with your business systems for holistic management.
Conclusion
Evaluating key factors such as security, compatibility and pricing is crucial in finding the right payment gateway for the business. You must also look for mobile-responsive and experiential solutions. If they are accessible and inclusive, it will reimagine your financial operations.
Popular payment gateways such as PayPal, Stripe and Square can help customize your payments and improve the checkout processes. You must consider monitoring the gateways and look for preferred modes to foster customizations.