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Gaining access to consumers all over the world has never been easier thanks to the growth of global e-commerce and increased online activity. But, although reaching international audiences is now possible, you still need to have the right fundamentals, ensuring the online payment process is smooth, to truly gain global growth.
That’s where a global payment gateway comes in.
Without it, you may see a decrease in authorisation rates, which won’t do your reputation, your customer’s experience or your bottom line any good.
So, if you’re planning to scale internationally and explore new markets, choosing the right international payment gateway provider is key to handling cross-border transactions smoothly.
In this blog, we’ll explore the basics of the payment gateway for global processing, its benefits and what to look for when selecting the best payment gateway for your website.
What’s in this article?
Just like a generic payment gateway, a global payment gateway is the bridge between your online store and the financial institution that processes your international customers' payments. It securely authorises credit card transactions and ensures that funds are transferred from your customer's account to yours.
What sets a payment gateway for international payments apart is its ability to:
Choosing a global payment gateway with a strong network of international acquirers improves authorisation rates, reduces fees and removes friction from the customer journey to help you break through any international barriers and accept cross-border payments.
Let’s break down the steps involved in processing international transactions through a payment gateway:
If you’re looking to future-proof your business, upgrading your payment gateway to accept global payments may be the right choice. Let’s take you through the benefits to see how an international payment gateway can help:
With an international payment gateway, you can accept payments from customers worldwide, regardless of currency or location. This opens up a whole host of opportunities to tap into new markets and diversify your consumer base that may not have been accessible otherwise. By eliminating barriers related to payment processing overseas, businesses can attract customers from anywhere in the world.
Accessing global markets means accessing more potential customers. The ability to accept international payments in multiple currencies and from various regions enables businesses to capitalise on international sales opportunities. This can result in increased revenue streams and overall business growth.
In today's interconnected world, businesses need to compete, not just locally, but globally. An online payment gateway for international customers gives businesses a competitive edge, enabling them to offer seamless payment experiences worldwide. This can set them apart from competitors who may not have the same level of international payment capabilities.
Global payment gateways are designed to handle high volumes of transactions, making them scalable solutions for businesses looking to grow internationally. Whether a business is processing a handful of cross-border orders or thousands per day, an international payment gateway can accommodate the scalability needs of businesses as they expand into new markets.
Global payment gateways often come hand-in-hand with advanced security features to protect your customers' payment information, reducing the risk of fraud. For example, here at Nomupay, our gateway comes with a fraud suite consisting of 120 fraud tools, including chargeback alerts, 3DS2 authentication, AVS checks and smart detection tools.
Most global payment gateways also come with user-friendly dashboards that allow you to track transactions, manage disputes and generate reports easily. Our Unified Platform dashboard does just that and more, allowing you to analyse real-time insights and create custom reporting to spot behavioural trends to help you make smarter business decisions.
Now that you understand how they work, you might wonder which one is the best global payment gateway provider for your business. Here are a few factors to consider:
For a full list, check out our blog on things to consider when choosing a payment gateway.
A global payment gateway is essential for businesses looking to expand internationally and accept payments from customers around the world. By understanding how it works and choosing the right provider, you can streamline your payment process, increase sales and provide a better experience for your customers.
If you’re ready to scale your business and open up to new markets, now might be the perfect time to take a look at the payment gateway you use. To learn more about how we can help you expand, get in touch with one of our specialists.
To recap, here’s an overview of the top FAQs about global payment gateways
Which is the best payment gateway for international transactions?
The best international payment gateway depends on your business needs. Look for providers that offer multi-currency support, access to local acquirers, low transaction fees and excellent fraud prevention tools.
What is an international card payment gateway?
It’s a payment solution that lets businesses accept global card payments, supporting various card networks like Visa, Mastercard and local payment options.
How do I choose the best international payment gateway for my website?
Look for seamless integrations, currency compatibility, strong security features and transparent pricing.
