Choosing the right payment gateway UAE can have a big impact on your business. One of the most important aspects of this choice is the fees.
Payment gateway fees can affect your profits, so it’s important to know how to negotiate them.
We’ll discuss some simple steps you can take to negotiate better fees for your payment gateway UAE. We’ll also talk about payment gateway API integration and how it can influence your choice.
Understanding Payment Gateway Fees
Before you start negotiating, it’s essential to understand the types of fees that come with using a payment gateway UAE. These fees typically include:
- Setup Fee: A one-time fee to get your payment gateway UAE up and running.
- Transaction Fee: A small percentage of each transaction that you’ll pay to the payment gateway provider.
- Monthly Fee: A fixed amount you pay each month to use the payment gateway.
- Cross-Border Fee: An extra fee if you accept payments from customers in other countries.
- Refund Fee: A fee you pay when you refund a customer.
Knowing these fees will help you understand where you can negotiate.
Research Different Payment Gateways
The first step in negotiating fees is to research different payment gateway UAE. Each provider has its fee structure, and some may be more flexible than others. Look for a payment gateway that fits your business needs and is open to negotiation.
Some popular payment gateways in the UAE include:
- Telr
- PayTabs
- Checkout.com
- Network International
Compare their fees, features, and customer reviews to find the best option for your business.
Prepare Your Business Case
Before you approach a payment gateway provider, it’s important to prepare a strong business case. A business case is a document that explains why the provider should lower their fees for you. Your business case should include:
- Your Transaction Volume: If you expect a high number of transactions, this can be a good reason for the provider to lower the transaction fee.
- Your Business Growth Potential: Show how your business is expected to grow. If you’re a small business now but expect to grow quickly, the provider may be willing to lower fees to keep you as a customer.
- Competitor Offers: If other payment gateways are offering lower fees, mention this in your negotiation. Providers may match or beat competitors’ offers to win your business.
Start the Negotiation Process
Once you have your business case ready, reach out to the payment gateway provider. Be polite but confident in your request for lower fees. Here are some tips for successful negotiation:
- Ask for Lower Transaction Fees: Start by asking if the provider can reduce the transaction fee. Even a small reduction can save you a lot of money over time.
- Negotiate Monthly Fees: If your business doesn’t have many transactions, you can ask for a lower monthly fee.
- Request Waived Setup Fees: Some providers might be willing to waive the setup fee, especially if you commit to using their services for a long period.
- Seek Discounts for Bulk Transactions: If you expect to process many transactions, ask for a bulk discount. Providers may offer lower fees if you hit certain transaction numbers.
Consider Payment Gateway API Integration
Another important factor to consider when choosing a payment gateway UAE is payment gateway API integration. API integration allows your website or app to connect directly with the payment gateway, making it easier to process payments.
When you negotiate fees, ask the provider about their API integration options. Some providers may charge extra for API integration, while others include it in their standard package. If API integration is important to your business, make sure to discuss this during your negotiation.
Review the Contract Carefully
After negotiating the fees, the payment gateway provider will give you a contract to sign. It’s important to review this contract carefully.
Look for any hidden fees or terms that were not discussed during your negotiation. If you see anything that concerns you, ask the provider for clarification or further negotiation.
Build a Long-Term Relationship
Negotiating fees is just the beginning. To get the best out of your payment gateway UAE, try to build a long-term relationship with your provider. Keep in touch regularly, and don’t hesitate to ask for better terms if your business grows or if you find better offers elsewhere.
Conclusion
Negotiating fees with a payment gateway UAE can save your business a lot of money. By understanding the different types of fees, preparing a strong business case, and considering payment gateway API integration, you can successfully negotiate better terms for your business.
Always remember to review the contract carefully and maintain a good relationship with your provider for the best results.
PayTabs is a payments infrastructure company providing exceptional solutions that are simple, secure, and scalable to drive local commerce and power financial inclusion across the MENA region.
