Moving your POS to the cloud? Many payment gateways have been adapted to work with more sales channels, while others were built for omnichannel needs from inception. Often, less sophisticated gateways accept mobile payments, but do not support signature capture terminals with pin debit. For those that support signature capture terminals with pin debit, here’s a checklist of vendor selection criteria to help distinguish between payment gateways: POS Services required:
- Merchant Account
- Payment Gateway & Virtual Terminal
Vendor Selection Checklist:
- Product Features
- How will the gateway help manage interchange fees? (impacts EBTIDA)
- Does the gateway support level 3 data? (impacts EBTIDA)
- Does the gateway support signature capture terminals with pin debit?
- How do merchants manage multi-location store settings such as user access, user permissions, and fraud prevention settings? (impacts efficiencies, EBIDTA, PCI Compliance)
- How do merchants manage user logins for multi-location operations? (impacts efficiencies)
- How frequently does the gateway roll out new services or features? (impacts efficiencies, EBIDTA, PCI Compliance)
- How does the gateway help prevent internal & external fraud?
- Product Support
- With what methods can merchants contact support? Hours of operation?
- What is process for adding additional locations?
- How easy is it to update all locations with new or changed user permissions or store settings?
- How are operations disrupted when the retailer changes merchant account processors in the future?
- With what frequency does the vendor roll out new platform updates?
- What is the vendor experience with multichannel / multi-location operations, using similar hardware and software?
- Hard Costs
- Reduced losses
- Payment Gateway Services required
- Does the gateway support all current sales channels?
- Will the gateway support future anticipated sales channels?
For answers to these questions by payment gateway, contact us for more details.