Article

Signs Your Payment Services Need An Upgrade

 

Your business is booming, and the integration decisions you made when you were just getting started have been struggling to keep up. With additional human resources, you can probably make it work, but at your next business milestone, it might break down again at a peak moment of success. Wouldn’t it be easier to have a payments provider who can support your growing business?

As you continue to expand your operations, partnering with a payment provider that can scale with you is a top priority, but knowing the right choice to make isn’t as simple. You know you need a new provider, but which one is the best fit? And what impact will it have on your business and to your customers?

Choosing a payment partner is no easy task, and at Bambora we know it takes considerable time and effort to come to a conclusion. To help you make a decision, we have put together a checklist. If you find your provider is not meeting these requirements, it might be time for you to consider switching providers.

 9 Signs Your Payments Services Need An Upgrade:

 

  1. Are your customers comfortable with their fees? 
    Your partner should provide you with a transparent pricing strategy, with all charges clearly explained. Competitive pricing can keep your customers happy.

  2. Does your payment partner offer the leading payment types? 
    Your payment provider should provide the payment types that matter to your customer, such as digital wallets. They should also be investing in new payment types, making sure you stay current in an ever-changing market.

  3. Can your customers showcase the option to accept local currency? 
    Giving your customers the option to accept payments in their local currency helps increases conversions. Your provider should be able to support different currencies.

  4. Do you feel protected? 
    To keep your payment data safe, your processors should be PCI-Level 1 Compliant, allowing you to minimize your PCI scope while preserving your brand and experience. They should provide you with additional fraud tools such as 3D Secure 2.0 and tokenization.

  5. Can you easily integrate new features?
    What SDKs and APIs are offered? Make sure the coding language is something your developers are familiar with, and that will be current two to five years from now.

  6. How long does settlement take for your customers?
    Settlement varies across payment providers. The settlement time shouldn’t put a strain on your customers cash flow.

  7. Do they offer additional ways to earn revenue? 
    Some payment processors offer revenue sharing programs, where you have a chance to earn additional revenue by referring customers to the payment processor.

  8. Are you happy with the support? 
    A well-seasoned support team should be available whenever your clients have an issue, and should be reachable by phone or email.

BONUS:

  1. Is your payment processor as ambitious as you are? 
    You want to work with a payment processor with similar values to your company. As your business continues to expand, your processor must be able to work with you and provide flexible solutions you need to reach that next level.

 

You shouldn’t have to worry that your payment services aren’t going to keep up as you continue to grow.

Come to the conclusion that your payment provider is not living up to your expectations? Our payments experts are always ready to chat.

 

People also read...

Cookies

Bambora use cookies to give you the best possible experience when visiting our website. This Cookie Policy explains what cookies are and how Bambora uses them. By continuing to browse or use the Bambora website, you agree that we can store and access cookies as described in this Cookie Policy.  For further information about how we collect and use information about you, please refer to our Privacy policy.

Cookies are small text files that are stored on your computer and are used to track what you are doing on the website. 

There are two main types of cookies that we use:

  1. A persistent cookie, which is stored on your computer when you access the website and remains there until you erase them, or they expire.
  2. A session cookie, which is stored temporarily in the computer memory when you browse the website. The session cookie disappears when you close your browser.

Bambora use cookies to:

  1. Improve the user experience of the website, by for example by adapting the website to reflect your requirements, choices and interests.
  2. Provide information for website statistics regarding the use of the website.
  3. Follow advertisement in media to adapt our services to help you receive more relevant offers.

Some cookies that Bambora uses are strictly necessary for the operation of the website, enabling you to move around the website and use its features. For example they help support the structure of the pages that are displayed to you, help to improve navigation and allow you to return to pages you have previously visited.

 

Bambora also use cookies from third-party providers. These are used mainly to analyze user behaviour with the purpose to improving user experience, and to offer more relevant advertising.

 

You can choose if you want to accept cookies.

If you do not want to accept the use of cookies, you can adjust the system settings in your browser to delete all cookies that are already on your computer and, in most browsers, to prevent them from being placed. Certain functionality on our website can only be used if your browser allows cookies and may not work if you choose not to accept cookies or adjust your browser cookie settings.

If you have any questions about our use of cookies, please contact us.

We are open for business!

Welcome to the world of payment solutions. Choose your country and start accepting payments from customers all over the world.