Today’s modern supply chain depends on quick, fast, accurate and secure financial transactions. Customers are accustomed to quick fulfillment and delivery these days and they simply will not settle for slow fulfillment of their favorite products.
And that entire process starts the very moment they place their order.
So, it stands to reason that the first step in the process should be intuitive, painless, and every bit as streamlined as the rest of the fulfillment process. All it takes is for your payment gateway to fail or otherwise become incapable of processing payments for just a few minutes for you to lose a number of potential customers.
While this is the worst-case scenario, most payment gateways are still not exactly equipped for the type of high-volume processing that drives a large supply chain.
But with so many on the market today, how do you choose the right one?
Logistics-Focused Payment Gateways - What to Look For
When it comes to credit card processing, merchants have many options beyond standard terminals that offer enhanced security and payment flexibility. Some key modernized features to look for when comparing credit card processing companies are:
NFC payments (payments that can be made by holding a phone up to the reader)
EMV chips (the global standard for debit and credit cards - based on chip technology for improved security)
R code payments (payments can be made via a QR scanner)
SMS mobile marketing
Point-of-sale marketing offers
Full payment method coverage (the credit card processor should accept all - or at least most - forms of payment to avoid disappointing customers)
Any POS that comes with advanced functions such as security against fraud and mobile payments will most likely also include these important features.
Top 5 Logistics-Focused Payment Gateways
Merchant One provides not only credit card processing but also several other merchant services for a range of businesses, from small eCommerce stores to brick and mortar stores such as restaurants. Merchant One’s service includes state-of-the-art payment terminals and POS systems that can be set up and ready to accept credit cards for payment within 24 hours of purchase.
Also, with a 98% approval rating, it is very likely that your application will be approved even if your credit isn’t the best.
Flagship Merchant Services
From restaurant owners to internet merchants to phone order merchants, Flagship makes it super easy for any kind of business to accept various types of payments and promises to save your business money along the way.
Flagship even offers a $50 AmEx gift card to any potential buyer that can find a better rate elsewhere. This makes Flagship one of the most popular choices for our visitors.
Another powerful payment platform is Stripe. Stripe is designed for internet businesses specifically and claims to handle billions of dollars in transactions every year. A major difference between Stripe and other services is that Stripe offers a custom solution rather than an out-of-the-box solution. By providing you with multiple different flexible tools, Stripe allows you to customize your payment process to work specifically for your type of business.
For the large-scale application, Stripe offers a plethora of different APIs that you can use to create your own on-demand marketplaces, subscription services, or crowdfunding platforms. These APIs support many of the biggest development languages, including PHP, Ruby, Python, and Java.
Payline is a payment gateway platform with web solutions designed to link up with over 175 digital shopping carts. Payline also offers mobile solutions for accepting payments through mobile apps. Lastly, Payline can integrate with QuickBooks to give you easy control over business financials and payroll management.
Pricing starts at $10 (£8) per month with a $0.10 and 0.2% fee per transaction for brick and mortar stores. For online stores, Payline costs $20 per month with fees of $0.20 and 0.3% per transaction.
Global Electronic Technology
Global Electronic Technology Inc., or GET for short, is a payment gateway that can accept both credit cards and virtual payments, giving your customers the convenience and flexibility they want. No matter what type of business you have or the size of your business, GET offers several different flexible payment solutions with great rates to help complement your business goals. GET believes that by offering the best value to vendors like you, you will be able to provide your customers with the best value as well.
There are several exceptional payment gateways on the market, many of which can be customized for logistics and supply chain operations. If you’re thinking about investing in a payment gateway for your supply chain business, contact the experts at Redwood Logistics.