Safe Payment Gateways: What to Look for and Why it Matters
When it comes to running a business, every transaction counts, and so does your customer's trust. Whether you’re running a salon, plumbing business, dog grooming studio, or dental clinic, your customers expect to pay quickly, easily, and most importantly, safely.
With 43% of cyberattacks targeted towards small businesses, being able to offer secure payment gateways has never been more important. Familiar and secure gateways not only keep your customers safe, but also make it easy to pay you, meaning less time spent chasing payments. Not sure what to look for in a payment gateway? Or why it matters? We've got you covered!
What is a Payment Gateway?
A payment gateway is the technology that processes your customer's payments - whether online, in store or over the phone - and securely moves money from your customer's bank account. It acts like a secure bridge between your customer and your business. A good payment gateway will:
Collect payment details like credit or debit card info or digital wallet credentials
Encrypt data so it can’t be intercepted
Send it to the right financial institution for approval
Communicate back to let you and your customer know if the payment went through
Some gateways do all this quietly and efficiently. Others create a clunky experience—or worse, leave the door open to hackers if they’re not properly secured.
Common Payment Methods
Digital Wallets: Options like Apple Pay, Google Pay, and PayPal offer quick, secure checkouts—great for mobile-friendly payments.
Credit & Debit Cards: Still the most popular choice. In 2023, more than half of kiwis (51.8%) preferred to use debit or eftpos card to pay for everyday things, while 24.1% of kiwis preferred to use a credit card.
Bank Transfers (like POLi): Popular with kiwis who prefer not to use credit cards, it's instant, secure and direct from a customer's bank account to yours.
Why a good payment gateway matters?
A clunky checkout process is one of the fastest ways to lose a sale. If a customer can’t use their preferred method or finds the process confusing, they're more likely to abandon the transaction or delay payment. When you've got a stacked day of jobs, the last thing you want is to be slowed down when it comes to accepting payment - or spend precious time chasing after payment. Not to mention:
A good system builds confidence: By using trusted logos like Visa, Mastercard and PayPal, you signal legitimacy and security, these names are well known and recognised across the nation, helping build trust.
More payment options = more sales: The more payment options you have, the easier it is for your customers to pay - especially if your customers use a broad range payment methods. By making it easier for your customer to pay, you increase the chances of getting paid on time — and reduce time spent chasing invoices.
What makes a good payment gateway?
When it comes to securing your business, you don't need to be a tech expert! A good payment gateway should do all the heavy lifting for you, leaving you to focus on your business. Not sure what to look for? Here's a few things you want from your payment gateway:
PCI DSS Compliance
If you accept credit or debit cards, PCI DSS compliance isn’t optional - it’s essential. So, what is it? PCI DSS stands for Payment Card Industry Data Security Standard and are the minimum standards required of anyone who stores, processes or transfers payment card data. The easiest way to ensure you're compliant is to choose a trusted payment provider that encrypts transactions and keeps sensitive data off your servers.
Why it matters: Non-compliance can result in hefty fines, reputational damage, and even losing the ability to accept card payments. For more information on how PCI DSS works, ASB have put together a handy guide around this.
Privacy and Data Protection
Make sure your provider uses security measures like tokenisation and encryption. If you store customer data yourself, ensure it's encrypted, tightly controlled, and admin accounts are protected with two-factor authentication.
Accepting payments over the phone? Use a secure virtual terminal and never write down credit card details.
Transparent Surcharging
Be sure surcharges are clearly disclosed, this isn't just best practice, but required.
Choosing the Right Payment Gateway for Your Business
1. Evaluate Your Needs
What kind of payments are most common in your business? Do you need to take payments in person, online, or both? How do your customers prefer to pay? Are you busy with market stalls or seasonal events that require fast mobile processing? Or maybe you don't need to be slowed down by slow processing times as you dash between jobs. (Choose a CMS that easily incorporates a payment gateway into your ecosystem - like Thryv)
2. Look at Features & Fees
Every gateway has a different fee structure, supported payment types, and levels of customer support. Pick one that works with how your customers like to pay—and avoid paying extra for features you won’t use. In the event that you might need support, it's worth ensuring that your future (or current!) payment gateway has a time zone appropriate help desk, so you can get help when you need it.
3. Read Reviews & Ask Questions
If you're anything like us, you know a good review, as part of your vetting process had a look at what other kiwi businesses have to say online or ask around for any recommendations.
4. Go for a test drive
Many providers these days offer a free trial or consultation, so why not give it a whirl. A free consultation gives you the chance to ask any of your burning questions and see how a payment gateway can be integrated into your business and meet your specific requirements.
5. Plan for the Future
When it comes to choosing a solution, you want one that will last, making it important to choose one that can flex and grow with your business. Your payment gateway should be able to handle increased volume, recurring payments and meet not just your present requirements but any future requirements.
Ready to Upgrade Your Payment Gateway?
If your payment gateway doesn't quite fit the bill, or you're looking for a solution that better fits the needs of your business, we'd like to introduce you to ThryvPay. Designed specifically with service-based businesses like your, ThryvPay is here to make getting paid easier.
Why ThryvPay?
Low Payment Processing Rates: No hidden fees and low transactions fees.
Automated Payment Reminders: Spend less time chasing customers and more time running your business.
Recurring Payments Made Easy: Set up daily, weekly, or monthly payments with custom plans that work for your clients.
Custom Instalment Options: Let customers pay over time with flexible, easy-to-manage instalments.
All-in-one solution: ThryvPay easily integrates with Thryv's customer management system, ensuring visibility of transactions, ease of use and more secure protections and keeps all your customer information at your fingertips.
Multilayered Security: Thryv's security approach prioritises data protections and privacy for it's users, following industry best practice, including robust encryptions, network firewalls and ongoing patch management.
Want to see if ThryvPay is the right fit for you? Click here to learn more.