It is critical to find a global payments processor that accepts a wide range of localized payment methods. It is also critical to select one that accepts payments in multiple currencies. 

You can streamline the entire cross-border payment process, improve tax compliance, and payees will appreciate the simple registration process with an efficient payment solution.

Which is the best payment gateway for international transactions?

When a payment is made to a supplier, vendor, publisher, or other affiliates whose bank account is located outside of the country in which your business operates, the global payment process begins. 

Traditionally, global payments processing necessitates entering data into multiple bank portals, which come with steep fees and high overhead. If you don't work with a cost-effective global payments processor, you may incur high conversion fees when processing global payments to a supplier in a foreign currency.

Consider the countries that a payment gateway solution supports

Before selecting a payment gateway system, ensure that it supports the required locations. EmerchantPro, which is available in multiple countries and regions, should be considered if you want to build an e-marketplace platform that serves millions of customers globally.

Examine a payment gateway provider's transaction limits

You should consider transaction limits set by a solution provider when integrating a payment gateway that will meet your business's specific needs and budget.

Most vendors will be satisfied with a maximum value, with the exception of companies that trade real estate and luxury cars online. If you want to build an e-marketplace selling goods for less than $0.50, the minimum amount may not be sufficient.

If a user account is verified, there are no limits to the amount of money that a customer can send. However, depending on the currency, a user can transfer up to $60,000 or less in a single digital transaction.

The minimum limit for instant transfers is $1, and the maximum limit per transaction is $5,000.00.

Consider the prices of the best international payment gateway providers.

Payment gateway solutions perform a variety of functions, from transaction processing to verification of banking information, for a fee. Commissions are typically charged based on factors such as location and amount transferred.

It is critical to research the terms of use and pricing when selecting a payment gateway for a marketplace. Payment gateway providers may charge organizations for system installation, service utilization per period, merchant account setup, and transaction fees.

Our payment gateway, unlike many other services, does not charge monthly fees. Furthermore, you can contact our experts and request that pricing be adjusted to meet the specific needs of vendors.

Investigate payment options

When selecting a payment gateway system, ensure that it supports the payment methods preferred by the target audience. EmerchantPro, for example, allows customers to make purchases using the majority of credit and debit cards, including Visa, Mastercard, Discover, American Express, UnionPay, and Diner's Club.

Furthermore, you should consider changing customer needs. According to Statista, 82 percent of US consumers preferred to use credit and debit cards when shopping online in 2019, while 80 percent of European survey participants preferred payment services such as PayPal and Alipay.

According to FIS, electronic and mobile wallets was the most popular method in 2020. Accounting for 44.5 percent of global e-commerce sales. These expenditures are expected to reach 51.7 percent by 2024.

According to analysts, credit cards accounted for 22.8 percent of e-commerce transactions, while debit cards accounted for 12.3 percent. Payment card popularity is expected to remain nearly constant, falling to 20.8 percent and 12 percent, respectively. As a result, when developing a marketplace application, you should enable these payment methods.

Why choose the best payment gateway for international transactions from EmerchantPro?

EmerchantPro is a leading provider of online payment solutions for small and medium-sized businesses. It is providing significant enhancements to its domestic and international routing technology. 

Following a successful year of expansion for the financial technology firm, these enhancements will improve how businesses pay and get paid in the United States and around the world.

EmerchantPro expansion of its multi-method technology capabilities builds on the company's commitment to providing a payment experience that prioritizes cost, speed, and security. 

We can help you get the best international payments for your business. Get in touch with us to know more about international processing.