In an e-commerce business, the decision of choosing the payment gateway is very important and the cost of the service is one of the important parameters. Some common fees that may be included in payment gateway costs are; the actual cost of the transactions, the cost of setting up the payment gateway, and regular monthly charges cost. Since transactions involve moving of funds from one account to the other, every transaction is charged a certain fee depending on the provider. The setup costs are those charges that users are likely to incur when accessing the payment processing system while the monthly costs are those recurrent costs of maintaining access to the system.
The fees from a transaction are normally between 1. 5% to 3. A commission of 5% of each sale is generated together with a fixed fee for each transaction. Such expenses may seem small and almost insignificant but if aggregated significantly will eventually cause you to make losses. Further, the setup costs could be from $100 to $3000 or more depending on the service providers’ range and type of integration. Monthly fees might also differ with the fact that some of the gateways have fixed fees while others have tiered fees depending on the number of transactions or the extent of services offered.
In this regard, ZoviPay provides the best possible solution by charging lower fees. ZoviPay does offer some of the most competitive transaction rates that are lower than those of many traditional payment gateways, thus cutting on the costs of the payment process. Also, there are no setup charges in ZoviPay and neither monthly charges making it easier in the management of expenses.
Through embracing ZoviPay, the business is able to increase the revenue and control expenses as the payment service offered by the company will prove to be efficient and affordable greatly enhancing profitability. Therefore, there should be a thorough assessment of the charges made by payment gateways such as ZoviPay to make the right decision towards achieving the objectives of e-commerce.
Website : ZoviPay
Contact : +420776660910
Email : sales-fs@zovi.ai
Skype : Zovi Sales