For Collecting Donations for A Nonprofit Organization, You Need a Payment Gateway That Works in Your Country, Read The Details!
As a middleman between you and your customer/donor, a payment gateway securely performs various complicated operations in the background. Here are the top 20 (10+10) reasons why do I need a payment gateway.
To understand why you need an online payment processor, just imagine you are
running a nonprofit website or an eCommerce business. You’ll have to perform the following jobs to get paid:
1. Accept card-not-present transactions
2. Check integration at 0.75% per transaction
3. Perform fraud checks
4. Protects data through encryption
5. Simultaneously maintain communication with many key players
6. Pass on encrypted data to the acquiring bank
7. Get a transaction authorized by the issuing bank
8. Ask the acquiring bank to collect funds and deposit into your account
9. Develop a system for recurring payments
10. Message your customer about approved/declined payments
Sounds complicated? Indeed, it is. But the world’s top payment gateways do all this and more to keep the ecosystem of online payments rolling smoothly. When a payment gateway does its magic, a cross-border online payment processing appears to be the matter of a few clicks to get guaranteed payments. Here are more reasons why do I need a payment gateway.
10 More Reasons Why Do I Need a Payment Gateway for Online Payments
1. A Common Method Worldwide for Online Payment Processing
Using a payment gateway is a common method among eCommerce businesses and charitable organizations.
2. Fast, Prompt Payments from Your Customers/Donors
Securely transferring sensitive information to and from various entities and financial institutions not only puts a lot of responsibility on your shoulders, but it could also involve extended delays. On the other hand, if you use any of the world’s trusted payment gateways, you’ll get fast, prompt payments from your clients or contributors.
3. Guaranteed Funds Transfer
While it may take several hours or days for the funds to reach your account (in the acquirer bank), how will you reach (recontact) your customer if the payment is finally declined? Mostly, the online funds processing platforms validate customer’s financial data and perform fraud checks to guarantee payments.
4. Multilayer Fraud Checks – Increased Security
Through multilayer fraud checks, a payment gateway not only prevents any illegitimate transactions but also maximizes the security of your and your customer’s sensitive financial data.
5. Preferred Payment Options for Each Client
Customers want to pay via a payment method they are already using. That’s why a good payment gateway always offers locally available payment options to the clients across the area it serves. In this way, each buyer gets their preferred payment option/s to transfer funds.
6. Customizable Reporting
Usually, an efficient payment processing system involves a sophisticated mechanism to develop a two-way reporting with you and your customer. And, as a merchant, you often get the ability to customize reporting.
7. Payments in Local Currency
Just like their demand for a favorite payment method, the customers prefer paying in their local currency. If their local currency is not supported on the payment gateway integrated into your site, the buyers would switch to another platform the next time they shop. So, depending on your target audience, always choose a payment gateway that offers multiple currencies along with an option of the currency switcher/selector.
8. Protection from Expired Cards & Closed Accounts
As a customer feeds their payment details into your online platform, the integrated payment gateway is alerted to verify and validate customer’s data. In this way, the funds’ processor can detect expired cards, closed accounts, or insufficient funds available in the account.
9. Keeps All the Complicated Procedures in the Background
A payment processor squeezes the complicated online payments procedure to just a few clicks for the customers. All the complex operations are kept in the background, including:
Capturing and encrypting the client’s financial information
Performing multilayer fraud checks
Relaying data to the acquirer (merchant’s bank)
Sending data to card schemes (Mastercard & Visa)
Conveying information to the issuer (customer’s bank)
Authorizing transaction
Funds settlement
Collecting approval/decline message
Transmitting the message to the merchant
Displaying payment confirmation for the customer
10. Shopping Cart Integration
Sometimes, the payment gateway platforms also offer shopping cart integration into
your website. In this way, you can offer fast and convenient cart management and checkout facilities to your customers.
As a middleman between you and your customer/donor, a payment gateway securely performs various complicated operations in the background. Here are the top 20 (10+10) reasons why do I need a payment gateway.
15+ Best Payment Gateway Extensions to Choose From
Depending on your business or nonprofit’s requirements and the target audience, you can choose and integrate any of the 15+ best payment gateway extensions into your website using a compatible theme like Lifeline2 nonprofit WordPress theme, Deeds church WordPress theme, Actavista political WordPress theme, Deeds2 church elementor WordPress theme, Lifeline charity WordPress theme.
1. Paypal Pro
– Serves 200+ countries/territories and 25+ currencies2. 2Checkout
– Present in 230+ countries/territories with 45+ payment methods.3. Braintree
– Works in 45+ countries/ regions with access to 260+ million PayPal users4. Authorized.net
– For charities based in the US, the UK, Europe, Canada, Australia, etc.5. Stripe
– Available for charities in 39+ countries. Supports 135+ currencies6. Amazon Pay
– Accept voice-based donations from Amazon customers worldwide7. Bluepay
– Especially for Canada and the US to collect funds from home and abroad8. Stripe with iDeal
– 34+ countries and 60+ financial institutions supported9. Yandex
– For Russia and CIS countries to collect donations from across the world10. Paymaster24
– Collect funds from 240 countries/territories11. Paystack
– Africa’s economical payment gateway for worldwide donation collection12. Conekta
– Mexico’s favorite payment gateway13. PayU
– India’s fast and simple gateway with 250+ donation processing options14 . Quickpay
– Europeans’ preferred payment method with 20+ payment options15. Cardcom
– Israel’s popular gateway to receive funds from anywhere in the world
Conclusion:
Call it an interface between your website and the acquiring bank or a middleman between you and your client, a payment gateway has become something indispensable for any business or charity that needs to process only transactions.