The payments landscape is constantly shifting, and acquirers in particular face challenges from non-traditional players, as the traditional ‘roles’ of payment providers are increasingly blurred. However, acquirers who extend their payment services via a acquirer merchant gateway, and can board merchants directly, are uncovering new revenue streams and establishing a competitive edge.
This is the subject of my interview published on ThePaypers, which looks in detail at the issues facing acquirers and how they can respond.
As well as consolidation within the market, we are seeing the continued globalization of eCommerce putting pressure on credit card acquirers, as the importance of alternative payment methods continues to rise. Consequently, acquirers are looking at how they can rethink their business models, and add value to their merchant proposition. In the US in particular, where the domestic market is seen as saturated, cross-border eCommerce presents a new revenue opportunity.
Merchants desire – above all else – simplicity and security. Simplicity in integration processes, and security in their transaction processing. Acquirers who can offer a “one stop shop” payment solution can reduce attrition from merchants who are looking to both streamline their eCommerce operations, or extend into new markets.
It is for this reason that PAY.ON delivers a Global Merchant Gateway for Acquirers. Our core gateway is optimized with advanced modules that give acquirers the ability to extend their value chain by offering merchants fraud prevention tools, extended global coverage, or a wide range of business services. In short, a fully modular “toolkit” that is scalable, flexible, and secure. Access to PAY.ON’s global payment network is hugely beneficial to acquirers who want to offer merchants cross-border capabilities and grow their business internationally.
A while label offering, such as PAY.ON’s, allows acquirers to become a comprehensive online payments solution provider. Because acquirers brand our merchant gateway as their own, they gain the ability to extend their payment services and board merchants quickly and easily, without incurring substantial technical development costs.
Read the full interview with ThePaypers