Are You Accepting Payments the Right Way in Your Business?

Let’s face it, when it comes to accepting payment, there‘s a large variety of solutions to choose from. Maybe you’ve been told your business could benefit from a payment gateway and now you’re wondering, “is this just another product to buy that I really don’t need?”

Well, you’ve come to the right place. 

I get it, when you’re already busy with your work responsibilities, the last thing you want to do is extensive research on what payment solutions truly make sense for your business. If only it could be easier right? In this blog post we’re going to investigate whether you need a payment gateway or not so that you can confidently choose what’s right for you. 

To Gateway or Not to Gateway– That’s the Question

Have you ever purchased something online? Or perhaps you’ve submitted your card information into subscription apps like Hulu, Spotify, or Quickbooks? Each time you’ve paid with a card online, you’ve used a payment gateway. Payment gateways are encrypted technology used to securely collect both debit and credit card payment information for processing. The gateway doesn’t do the actual payment processing, but you can think of it as the customer-facing interface that you actually enter your card information into. You can learn more about Payment Gateways in this blog post. 

Payment gateways are a mainstay in the payment technology industry and make card payments smooth and user friendly. Because the “payment gateway” term isn’t thrown around much, they can seem mysterious or like a tool that’s new to payments. As a result, when given the choice to incorporate a gateway into a business’s systems, it can seem unfamiliar, daunting or even unnecessary. 

Let’s say for example, that you’re content with your current payment system. After all, if it ain't broke, why fix it? The simple truth is, you technically may not need a payment gateway. Let me explain; you can get by using a standalone terminal that you can easily run all of your card payments through. If a business runs a low volume of transactions and can get by with only one available terminal to run cards, this may be a decent option. While this option is a viable one, it does come with some limitations. Technically, you can have multiple standalone terminals but they will each run as their own separate operations. Meaning, you will not have access to reporting tools to oversee all of your daily transactions or automatic back-up of data into any sort of database in case something happens to one of the terminals. 

Imagine, you’re ringing a customer up and suddenly…. they accidentally spill their drink onto your terminal! Well, unfortunately, depending on the damage, you could find yourself losing an entire day's worth of transactions if they haven’t been batched yet. While accidents like this are generally uncommon, they can and do happen. This is quite literally one of the reasons that web-based payment gateways came about, to solve these problems from interfering with your business’s data ever again.

Truth is, you can get away without using a payment gateway but you may find that it could save you some time, stress and money to upgrade your payment solutions, while also providing your customers with a more modernized check-out experience. 

The Truth About Payment Gateways

So what’s the hype about payment gateways? Trends in technology come and go but new, innovative solutions in the PayTech industry are different. When a new solution comes along, it’s usually for good reason. From solving real-life problems to staying up-to-date with the latest card technology to offering customers more convenience and beyond, payment solutions are created out of necessity. Payment gateways happen to be a great example of an innovative payment solution that offers a plethora of features designed to simplify payment processing, enhance security, provide a smooth checkout experience for your customers and seamlessly integrate with existing systems. Alright, let's unpack how a payment gateway can really offer these benefits and why it might make sense for your business.

Cloud-Based Awesomeness

Remember that scenario I posed earlier about the compromised standalone terminal? Well, payment gateways are the solution to that issue. Imagine the convenience of having all your transaction and customer information from each of your terminals consolidated in one secure place. So no matter what happens to your physical terminals, every transaction, batched or not, is safe in the gateway’s cloud-based system. Offering you peace of mind knowing that everything is automatically backed up, completely secure and based online, where it can be accessed from any web browser at any time. One of the standout advantages is its superior reporting and organizational capabilities. By harnessing cloud-based memory, sensitive data is safeguarded against potential loss and toward higher security.

Cheaper than Netflix

Expenses in business are crucial. You’re not alone in feeling hesitant to change your systems up especially if it’s going to come with added costs. This is why payment gateways are actually such a great option. What if I told you that a payment gateway could not only streamline and simplify your payment systems but could cost less than a monthly Netflix subscription? You read that right. For a fraction of the cost of streaming entertainment, you can access a wealth of features that will upgrade your operations… with your bottom line in mind. 

No Tech Knowledge Needed

Do you put off upgrading your systems with new (to you) technology to avoid the confusion and frustration it may come with? I don’t blame you. So often I talk with businesses who are busy and don’t have the bandwidth to research new payment systems; it can feel like a no-brainer to just stick with what’s working and not complicate things. The good news is that payment gateways are so common and fine tuned that they’re often designed to be as user-friendly as possible, requiring no specialized tech knowledge. And while we can't vouch for every gateway out there, we certainly can for ours. 

Imagine a system so intuitive, you wish every tool in your business worked that smoothly. That's what our gateway offers. Unlike traditional card machines, gateways are the user interfaces quite literally designed to be the seamless interface that bridges the gap between you, your customers and technology.

As someone passionate about helping businesses thrive, payment gateways are by far my favorite tools to introduce people to. I’m always looking for ways to help businesses work smarter, not harder. Because we all deserve to have systems in place that add ease and convenience to our already busy schedules. With a gateway you can also enjoy the leisures of automating your payment processes, providing a variety of payment options to your customers, and keep your transaction data all stored in one easy-to access place. This one simple tool can free up valuable resources and responsibilities so that you and your team can focus on what you’re good at.

Decision Time

Now that you have a better understanding of the options available and what they look like in action, it’s time to ask yourself, “what does my business actually need?” 

Looking back at what we’ve uncovered today, you can see the pros and cons of working with either standalone terminals or payment gateways. Depending on how many transactions are run each day and how much convenience, security and simplicity is preferred, the choice is unique to each business.

Still not sure what’s right for your business’s needs? No problem. This is where people like us come in. Our goal is to always find the best payment solutions available, while doing the hard work for you.

Here at Cardnetix, providing you with the best, customized, industry-leading solutions so that your business or customers can thrive, is at the heart of everything we do. Whether you’re already working with us or just hearing about us, our integrations offer you cost-effective and reliable tools to create the very best payment experience possible.

Think of us as your own personal payment solutions concierge, ready to serve you.

Reach out to us today– we’d love to help!