Evaluation Criteria for Payment Platforms
Payment platforms offer merchants a one-stop source for processing their payments in a variety of methods both online and through a machine. Each of the service providers in the list of the best payment platforms are full-service payment processors which produce a full range of payment processing services and solutions to assist merchants in handling their payments, reducing fraud, and verifying information. Our evaluation process has been created with the most important aspects of payment platforms identified to highlight the best service providers.
There are five key areas identified by topcreditcardprocessors.com as significant for providers of payment platforms:
The overall reliability of the processing methods provided in the payment platform is based on each of the methods of payment processing and how well they are able to process payments over time. Various problems which the merchant may run into with the processing service are analyzed based on the platform’s process for handling the issue quickly and efficiently.
Variance focuses on the availability of various process services, solutions, and other services which assist merchants. Having a variety of solutions to meet a merchant’s every need for payment processing allows merchants to easily consolidate all of their payments through a single source without having to find different solutions for each aspect of their business.
Having an efficient system for all aspects of payment processing and data consolidation ensures that the merchant will be able to easily track their incoming payments through all payment methods while being able to understand the progress of each payment.
The processes available for customer support are evaluated based on the response times, personalization, and efficiency of communication provided by the service provider to their customers in relation to all types of issues. Their ability to quickly communicate and handle the volume of support requests they receive is important for a payment platform to be able to manage a larger number of merchants.
The ability to offer competitive rates to their customers in comparison to other payment platforms ensures the payment processor is providing an additional value to the customer by assisting them in maximizing their bottom line.