Crowdfunding is the latest fad in town and is highly used for raising funds by startups and product designers to fund their requirements. Moreover, it’s also emerged as a lifesaver for many people who cannot afford expensive treatments or are faced with life-threatening conditions, where crowdfunding can help them raise donations to fund their treatment. All in all, crowdfunding is a step in the right direction for many.
If you are thinking of creating a crowdfunding website and thinking of partnering with an online payment gateway in India, there are a few things you need to know so that you can make the best decision and come up with a website that’s able to raise funds without glitches.
Depending on the scope and requirement of your crowdfunding website; whether it’s for a personal cause, or you want to build a big website where people can post requirements for crowdfunding. Whatever the case, you are going to have to choose between hosted, self-hosted, and API-based payment gateway.
- Hosted: This is best for personal endeavors like personal projects where branding isn’t required and you want to keep costs at a minimum. Whenever someone wants to donate, they will be redirected to the payment gateway provider’s website where their payment information would be collected and processed without you requiring you to do anything.
- Self-Hosted: This will give you some level of control over the user journey and the checkout and processing will take place on your website. Choose this one, if you are planning to build something that requires a degree of control of the user journey.
- API Based: API-based is the best for people looking to create a full-fledged crowdfunding website. You will be solely responsible for maintaining the platform and would need to hire your professionals to help troubleshoot any looming issues that may result in downtimes. Also, all compliance requirements like PCI DSS needs to be met by you as well.
Once you have chosen the type of payment gateway you want for your crowdfunding website. You need to check up on the charges and the features being offered by various service providers.
Here are a few things you should check while looking at feature sets!
- Ability to accept various types of digital payments
- Being able to accept multiple currencies
- Being able to raise funds across borders without hiccups
- Prompt technical support
- Cost-effective and should meet all compliance requirements
Choosing the aptest online payment processor for your crowdfunding website is an important step that you must think over properly. Always choose a reliable service provider with the exact feature sets that you think you need for your business case.
If you do it right, your crowdfunding website would be able to take off in no time, and you would be able to raise funds for that new product, idea, or for a cause that matters to you!