03 JUN

Gateway payment solutions enhance merchant efficiency

  • Life Style
  • Aviva
  • Jun 08,2022
  • 24

Gateway payment solutions enhance merchant efficiency

The traditional online banking payment method is cumbersome, usually the merchant supports one bank, and then connects to the data interface provided by this bank to complete the transaction. However, with the continuous development of the online payment industry, customers are using more diversified payment methods, and merchants cannot be satisfied with only one or two banks, but need to interface with more banks, and also need to deal with the resulting reconciliation and clearing problems. At this time, third-party payment institutions have developed gateway payment solutions to replace the merchant's function of interfacing with banks.

What are the functions of the gateway payment solution?

The functions of the gateway payment solutions are not unique. In addition to the interface between the merchant's business system and the bank's system, the gateway payment solution also includes all the functions required by the merchant, including order management, pipeline management, routing configuration, accounting management, clearing management, user management and so on. These functions provide comprehensive support for merchants and can be adapted to inject different payment methods such as e-check, e-advance and e-payment, building a complete payment processing solution for merchants and having risk control functions to ensure the security of transactions.

The role of gateway payment solution

When merchants adopt this gateway payment solutions, they can first ensure the security of data during the transaction between users and merchants and realize seamless transmission. Merchants only need to set up to meet specific transaction processing requirements, and no longer need to consider how to interface with multiple banks, but rather focus on order, pipeline, risk control and account management. Through the gateway payment solution, merchants' transaction efficiency is greatly enhanced, creating greater profit margins and reducing costs as appropriate.

Gateway payment solutions to achieve transformation

For traditional enterprises or merchants, choosing a gateway payment solution can achieve digital transformation and even expand their business to overseas markets, because the solution can meet the needs of overseas payments, and overseas customers can also pay successfully through this solution.