We spend our time transacting online all the time, and we have made online payments become part of our lives. For this reason, paying online is a fundamental characteristic of electronic commerce platforms, which make everything easier for us by integrating with a payment gateway. Therefore, it is important that you know the best payment gateways for electronic commerce in Peru.
But before showing you these options, we will discover what exactly payment gateways are and how to choose the ideal one for your business.
What is a payment gateway?
The payment gateway is a service that is implemented in virtual stores to facilitate payment to customers. This serves to protect the details of a card by encrypting the sensitive information it contains, which ensures that private personal data is transmitted securely between the customer and the merchant.
How to choose a payment gateway?
Cost
The first thing you probably ask yourself is how much you will spend. It all depends on your e-commerce platform, its flexibility, and its adaptability.
We recommend you look at the following prices:
- Installation: Cost for integrating the gateway in your electronic commerce.
- Transaction: Cost for each transaction made through the payment gateway.
- Maintenance: Cost for keeping the payment gateway active.
Of course, there are other charges, but usually, the ones we have mentioned are the ones that vary the most.
Security
The next point of interest, without a doubt, is security. Avoiding fraud, unwanted information ending up in the hands of a stranger, and other vulnerabilities is important to protect both your customers' data and yours.
Among the best-known security requirements are the SSL (Secure Socket Layer) security certificates, which will allow knowing when a server is secure, there are also the Address Verification Systems (AVS), which ask the buyer for the fiscal address to which the card is linked to avoiding fraud. Finally, we find the security standards regulated by the Payment Card Industry (PCI), which provide confidence to consumers.
Support
If our payment gateway system goes down, technical support and customer service will be our salvation. Therefore, it is important to acquire a payment gateway with 24/7 technical support service.
You need a gateway that offers you very high availability guarantees, with which you can communicate by phone, email, and chat at any time of the day. Remember, your online store never closes.
Diversity of payment methods
The gateway you choose must respond to all the payment needs of your customers. This must accept the most popular card formats in your region, also allowing debit cards. Keep in mind that many people cancel their purchases if their preferred payment method is not available.
Stability and integration
The integration time of the payment gateway, the technical requirements of your hosting package and the technology used on your website are other points that you must take into account when purchasing one.
Also, once installed, you must ensure that the gateway maintains a stable connection during online transactions so that it provides a good experience to the consumers of your company or business.
internationality
If you have a virtual store, it is present all over the world. Therefore, you should choose a payment gateway that accepts a wide group of currencies. Not having a gateway that accepts international currencies integrated can affect your conversion rate.
On the other hand, if you have decided that your business is focused on a more specific market, it is best to consider a payment gateway that includes the currency preferences of your users.
data portability
When looking for a payment gateway that you want to integrate into your virtual store, you should check if it offers a data portability function. Why? Because if at any point you want to migrate to another gateway, you need to make sure you don't lose your existing customer information.
payment gateways
Niubiz
VisaNet is now Niubiz. This is a company focused on providing services related to operations through Visa and Mastercard cards.
Benefits:
- Increase your sales channels and accept payments with Visa and Mastercard.
- Integrate the payment gateway to the needs of your business in an easy and agile way. In addition, it is customizable.
- Follow your online sales in real-time with graphs and reports through the platform.
- Offer your foreign customers to pay in their own currency and earn an additional 1% of those sales.
- It features CyberSource, the world's largest anti-fraud radar.
- Protect your customers' data and provide security with PCI DSS Certification.
- It has Tokenization.
Commissions:
3.45% + IGV approx, applies to all debit and credit cards.
Transfer time or sales credit:
In 48 working hours, since the sales are settled. If you have an automatic settlement, every day at 9:30pm and 10:30pm. If you have VISA manual settlement, you have up to 8 days and if you are from another entity, it can be up to 5 days counting the transaction date.
PayU
PayU is another payment gateway provider, which has 18 markets around the world.
Benefits:
- Receive international credit cards.
- The money enters your account in local currency.
- You have absolute control of your transactions thanks to the PayU Module, where you can see the status of your sales and make partial and total reversals online.
- Through PayU Click, only in Web Checkout, you can increase the conversion at the time of payment by up to 10%.
- You can reserve the value of the purchase order and confirm it by checking the availability of your product or service to avoid reversals or complaints from your customers.
- Thanks to its PCI-DSS certification, all your operations have bank-level protection.
Commissions:
Starter (if you are just starting your business): 4.59% + S/ 1.50 per successful transaction.
Enterprise (If you expect to process values higher than S/ 100,000.00 per month): Varies according to your income.
Transfer time or sales credit:
For bank accounts in Peru, 3 business days (with three free spins per month). For bank accounts abroad, 7 business days.
culqi
Culqui is another of the payment gateways that has positioned itself as an excellent alternative in Peru
Benefits:
- Accept all national and international cards.
- Agile returns. You can cancel any sale within the same day of purchase and generate returns up to 6 months after it.
- It has the option to customize your payment website (logo, background color, etc).
- Automate processes. You can connect with any mailing system, accounting system, CRM, and more.
- You can monitor your business through its control panel.
- Reduces fraud thanks to its security protocols based on AI and ML
Commissions:
4.20% + $0.30 (plus VAT)
Transfer time or sales credit:
You will have your money 4 business days after the sale is made.
Payment Market
Mercado Pago is a tool developed by Mercado Libre, which makes it easy for you to offer different forms of payment.
Benefits:
- Absolute privacy. Mercado Pago has a high online security standard, no one will ever be able to see your financial data.
- Optimum conversion of money.
- You can have your website with integrated payments, this will encourage your customers to have a personalized payment website.
- It connects you with the most popular payment methods for your buyers, effortlessly. Your client will be able to choose the method they prefer and the money will be credited to your Mercado Pago account.
- Monitor payments 24 hours a day to confirm that everything is okay.
Commissions:
Mercado Pago charges you a commission according to the term you choose to release your money.
At the time:
2.99% if you pay by debit card, cash, and money.
3.99% if you pay by credit card.
In 30 days:
3.69% if you pay by credit card.
Transfer time or sales credit:
You will have the money available according to the rates and terms that you configured.
pay me
Pay-me is a cross-platform solution for e-commerce that accepts credit cards, debit cards and bank transfers with a single application.
Benefits:
- Local support via phone and email. They claim to have 24/7 technical support.
- They have anti-fraud tools.
- They offer simple and friendly integration with your website through their APIs, plugins and available libraries.
- You can get a better commission according to your sales volume.
- Services of monthly reports of sales and transactions carried out.
- Accept various types of payments: credit cards, debit cards and other means.
Commissions:
4.15%+ S/ 1.00 per successful transaction.
Transfer time or sales credit:
They deposit you every 4 days.
PaymentCash
It is a means of payment to buy online and pay in cash. It is not necessary to have a credit card to make an online payment, this is done through a CIP code, a unique payment code that is generated when choosing PagoEfectivo as a means of payment for online purchases.
Benefits:
- Provides different online payment options. It also allows you to pay in cash through agencies or agents.
- Greater reach to potential customers since it is not necessary for them to have a card to carry out the transaction.
- Nationwide coverage. PagoEfectivo has more than 40,000 cash payment points for your customers nationwide.
- Payment Identification Code (CIP) and SSL certificate.
Commissions:
5.00% + VAT
Transfer time or sales credit:
They deposit you once a week.
SafetyPay
It is a company that enables alternative payment methods that allow cash payments, bank transfers, and transactions globally.
Benefits:
- Build trust in a wide sector of your customers as they can pay in cash.
- It has real-time payment confirmation that complements the experience of the buyer who wants to guarantee that the payment has been received.
- It is multicurrency.
- It facilitates cross-border transactions, allowing merchants and consumers to accept and make payments in their own currency.
- They have a technological platform that they claim guarantees scalability, reliability, efficiency, and security.
- Once the transaction is confirmed by the bank, the funds are guaranteed and safely settled.
- It processes 2 million monthly transactions with a response time of 300 milliseconds.
Commissions:
It is variable and is subject to a prior evaluation of your business
Transfer time or sales credit:
Not specified.
