When we talk about a payment gateway in the context of eCommerce, we are referring to an essential stage during the purchasing flow within an eCommerce platform. The payment gateway enables secure transfers of financial information between an eCommerce platform and the bank or payment processor.

Author: Analleli Villalón, Associate of Payments

When a traveler makes a purchase within a bus company’s eCommerce platform, the payment gateway facilitates communication between the company’s website and the payment processing system. Its function is to authorize the transaction and ensure that payment information is transmitted securely. Moreover, some payment gateways also offer additional security features, such as data encryption and risk management.

It is a key tool for ensuring secure and efficient transactions, ensuring that online payments are made quickly and securely, both for the traveler and the bus company.

But what should a payment gateway contain for it to be chosen within an eCommerce platform?

Here, we list 7 aspects that every bus company should consider when choosing a payment gateway:

1. Good Performance: It should handle approval metrics above the national metric and keep fraud rates in check.
2. Competitive Cost: The cost may vary depending on the demand model. If it is a gateway model, it is cheaper because it only processes the payment through the payment processor with the bank. On the other hand, if it is an aggregator model, the cost tends to rise because it includes a more complete service, providing the entire infrastructure for receiving payments.
3. Correct Risk Management: Autonomy, correct application of rules, and an updated dispute resolution process.
4. Short Response Times: For addressing questions or issues that may arise during operations, having quick communication and responses is essential.
5. Personalized and Immediate Attention: The attention should be tailored to the needs of the bus company.
6. Simple, Transparent, and Accurate Reporting: It is crucial to have correct, complete, and easily downloadable data for daily monitoring and monthly closures. This allows for greater certainty in risk management.
7. Friendly Technical Integration: Ensure that the documentation is clear and precise, aiding in generating minimal friction for the traveler.

With the help of this information, any bus company in the country can understand the points that Reservamos SaaS considers most important for an eCommerce platform to achieve optimal performance during the purchasing process. This includes having high approval rates and mitigating fraud rates. Although cost is a factor to consider, it is not the only variable to achieve the goal of increasing sales.