How To Choose The Perfect Payment Gateway For Your eLearning Course
Taking the time to research payment gateways for your eLearning course can make a world of difference, as it will give you the opportunity to accept a variety of payment methods via your eLearning site. The trouble is that there are so many eLearning courses payment gateways these days that it's difficult to decide which one is just right for your needs. In this article, I'll highlight some tips that will help you find the ideal payment gateway, so that you can start selling your eLearning course and increase your income as soon as possible.
- Make sure it accepts all the major payment types.
A key consideration that you'll want to bear in mind when researching potential payment gateways is their acceptance policy. Will your customers be able to use all major credit cards to purchase your eLearning course or to pay for the eLearning course enrollment fee? Does the payment gateway provider gives you the opportunity to choose which credit cards you want to accept during the sign up process? For example, if it offers a package that includes Visa and MasterCard, while another features American Express and Discover card, are you able to pick-and-choose which packages are ideal for your online eLearning course sales? Ideally, you'll want to go with a payment gateway that accepts as many forms of payment as possible. Even if you don't sign up for them all at first, you can always add them at a later date if customers are requesting additional payment methods.
- Ask about its fee structure.
Every payment gateway has its own payment structure, which makes fees a key consideration when searching for the ideal solution. Some may require a set up fee that is a one-time charge you must pay when registering. Others also ask for a monthly maintenance fee of transaction fees, which means that a small percentage of your sales will be automatically withheld to cover processing costs. There may be a batch fee as well, which is a charge incurred for each “batch” of credit card transactions you've processed. Ask how and how often you will be charged, and make sure there aren't any hidden fees that may come as a surprise when you look at your bank statements.
- Verify that your customer data is going to be safe and sound.
Ultimately, you will want to go with a payment gateway provider who is PCI (Payment Card Industry) compliant, meaning that it has a security system in place that has been evaluated by a third party, and that it is up-to-date with industry regulations and standards. After all, it is going to be storing important customer data, so you'll want to ensure that it is going to be safe and sound once your customers provide their credit card numbers, addresses, phone numbers etc.
- Choose a gateway that has quick payment turnarounds.
How quickly will the payment gateway be issuing you payments for the credit card transactions you've processed? Ideally, you'll want one that has a rapid payment turnaround time, rather than one that holds your money for a lengthy period of time. You can find this out quickly by doing some research online and looking up reviews for previous or existing customers of the provider, which will give you a good indication of the payment turnaround time you can expect when you sign up.
- Never underestimate the importance of chargeback support.
There may, unfortunately, be times when a customer requests a chargeback, wherein they dispute the purchase they have made. While some payment gateways offer complete chargeback support and will serve as a mediator in this instances, others may handle things differently and will automatically credit back the customer without even investigating the issue. This is why it is important to learn as much as you can about their chargeback policies before signing up. Ask them directly and also look up reviews to see what other customers had to say about the chargeback policies that the provider has in place.
- Assess the level of customer support you really need.
Does the payment gateway offer 24/7 customer service, or some form of email support? Is there an FAQ that you can visit if you have a question that needs to be addressed? There may be instances when you need to get in touch with your provider as soon as possible, such as if there is an issue with a customer being overcharged or duplicate payments, and you need to know that they'll be there to help.
- Consider the time it will take to integrate the gateway.
Lastly, you will need to think about how easy it will be to integrate the gateway into your website, as the payment processing will actually be handled on the payment gateway provider’s server. If you already have shopping cart features or a storefront platform you are using, then you also need to make sure it can integrate with these solutions. Often, the best choice is a payment gateway that will redirect your customers to the provider site when it's time to enter their payment information, and then return them to your site when the transaction is finished.
Take the stress out of processing credit card sales for your eLearning course by finding the gateway that is ideally suited to your needs. Keep these eLearning course payment gateway tips on hand to ensure that you choose a solution that checks all the boxes on your list and offers the features (and pricing) you're looking for.
Want to learn about the best eLearning course payment gateways you may want to consider? The article The Top 6 eLearning Courses Payment Gateways highlights the top 6 gateways online today that are ideal for your eLearning course sales.
Want to choose an eCommerce platform that meets your needs and has the potential to boost your eLearning course sales? Read the article Boost Your eLearning Course Sales: 5 Tips To Choose An eCommerce Platform where I highlight the most important considerations that you'll want to keep in mind.