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How to choose payment configuration for a Magento store

Operating with installments is a significant part of the internet shopping process. Making everlasting trust with clients about the reliability and convenience of the store is in a real sense an extremely hard task. This task involves guaranteeing clients a fast and comfortable way to make financial installments for their purchases.

Installments can be conducted in several ways, and typically, one of them involves a third-party gateway. This way, a shop can easily connect with a plethora of installment strategies so that the customer can choose the one that is most convenient for them.

Suppliers of installment integration applications are one of the answers to help a business make custom installment modules or coordinate installment techniques for guaranteeing secure exchanges in a store.

Magento default payment methods

There are some default installment techniques packaged up with the basic Magento bundle. The store owner can discover those installments while establishing details of the shop for the first time.

For some storekeepers, it is rather easy to pick the installment mode based on the national or district criteria. However, to make the best choice of the method, it is recommended to get a reference from the documentation that the supplier of the method offers.

A huge number of online installment services additionally aim for a problem-free shopping experience for clients. Yet the most astute solution is to analyze the offering individually and pick the best web-based installment strategies that fulfill the store needs and provide clients with the best service to raise the chances of their next return. Some installment modes are triggered by default the first time the admin logs in to the store.

Default Magento payment modes: - PayPal - Authorize.net - Braintree - Amazon Payments - Google Wallet - Check/money order - Bank transfer - Cash on Delivery - Zero subtotal - 2 Checkout

If the default functionality is not enough, it can be improved by installing additional extensions. Namely, such as shipping price rules.

Ho to choose a payment gateway that will suit best

There are numerous installment services in the business. Therefore, many variables must be considered before embedding the installment method into the store.

A fast blaze to track down the right installment service provider:

  • Scalability. The payment gateway should be scalable to the eCommerce business so, it may bring the highest revenue;

  • Reliability. It should be safe and secure from frailties;

  • Customer experience. The payment gateway has to be flawless and must be comfortable to use. There must be user-friendliness in the process flow;

  • Transaction security. Need to protect customers' account details and personal data. Hence, the transaction will be safe and guarded against fraudsters;

  • Integration ease. The payment gateway module must be easy to integrate into the store. The developers should feel comfortable while doing so;

  • Accessibility. It should be accessible to any location and should accept multiple currencies.

Integrating payment methods into Magento

Installment reconciliation is an important job that has to be done in order to incorporate various installment strategies in the store. In this way, a store can ensure it gives clients quick and secure exchanges.

Recommended best practices for picking optimal Payment Gateway:

  • Ensures secure online payments without fraud;
  • Supports for multiple countries/currencies in store;
  • Enables credit/debit card purchases;
  • Encourages recurring/subscription payments;
  • Ensures compatibility with your online shop;
  • Payment gateway is hosted/direct.
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