If you are wondering which payment provider to choose among various options for your Magento 2 store, you are not alone. It is no secret that your biggest priorities and concerns in this regard are safety and a simple and hassle-free integration process for your e-commerce store.
Did you know that out-of-the-box Magento 2 implements integration with various platforms, such as PayPal, Authorize.Net, and Braintree? Note that these integrations are convenient as they allow you to create as well as handle transactions on the basis of order details.
You will be happy to know that in addition to being extremely flexible, Magento 2 is also compatible with several payment gateways. This enables online payment processing. While some renowned and popular payment integrations are often available out-of-the-box, note that intelligent and savvy e-retailers also introduce alternative payment gateways. This is because shoppers now expect more than one online payment option.
What is a Merchant Account?
We can define a merchant account as a bank account where you receive funds after a successful transaction. It is worth noting that a merchant account allows your retail organization or business to accept debit and credit card payments that a payment processor submits.
One of the key roles of the payment gateway is to either approve or decline each financial operation while your merchant account receives payments from credit cards and debit cards.
Magento 2: How to Ensure Perfect Merchant Account Integration
Global support and Magento 2 Integration
Indeed, you would like your business to grow and expand on a regular basis. Your business might be small today; however, in the future, it may expand exponentially. This is when you will need a secure payment gateway that will assist your customers and shoppers from all around the world. So, one of the best tips is to choose a payment gateway that supports: multiple currencies, countries, card networks, and payment methods, which are popular and simple to use outside your location.
Get all the Right Resources
Keep in mind that a hassle-free and effective Magento 2 integration requires a project team with experienced employees who are specialists in both software platforms. Keep in mind that merchant account integration isn’t about simply inserting a line of code into the software. It is a complete solution that’s embedded into your various business processes. This is why choosing the right team is crucial.
Magento 2 Integration and Improved Customer Experience
There is no doubt that customers are everything for your online store. So, you have to consider them when you are choosing a suitable and reliable payment gateway for Magento 2. Note that the gateway you choose should make the process simple for them. If possible, all of the payment details, such as a credit card number, should be auto-filled in order to lower your customer’s checkout stress.
Your Vision for Your E-commerce Business Matters
You should choose a Magento 2 merchant account integration solution that can grow with your business. For example, consider what your company or business will look like in, say, six months or one year.
Secure Transaction Interface
It is essential to protect your e-commerce store from various types of fraud (both criminal fraud as well as illegal chargebacks), especially during the critical checkout process.
Here is an important stat. According to an American Express online payment survey, almost 37 percent of customers said that they abandoned an online purchase simply because they didn’t feel their payments would be secure, which is a cause for concern.
This is why you will need a secure and reliable payment gateway to protect your shoppers from fraud and your business from losing money. Your payment gateway has to be immune to all payment frauds.
When you are choosing a payment gateway and integrating a merchant account for your Magento 2 store, you should make sure that you choose a platform that meets both your short-term objectives and long-term ones.
There is no doubt that enabling multiple payment options will help your Magento 2 store gain a competitive advantage in the online space by giving your shoppers more freedom regarding what payment gates they can use.