Solution Portfolio - Page 93

The world of digital commerce does not sleep. Someone is browsing or shopping
somewhere and needs to make a payment. The inability to process payments,
especially at peak time sales events (Black Friday, Flash sales, etc.), will translate to
signicant lost revenues and recurring issues may contribute to customer defection.
For online businesses, payment processing is a mission critical capability which
must operate in a 24/7 error-free environment. Companies processing payments
for online businesses must offer multiple routes to ensure full redundancy. The
companies that we have interviewed say they are willing to work with several payment partners to guarantee this.
Having a single payments provider who can offer a choice of acquirers is often the
best option for the retailer as it provides contingency coverage and at the same
time, obviates the need to manage multiple partners.
Recently, when international card scheme systems suffered outages in Europe,
many consumers were unable to use their cards to make payments. However,
online businesses whose payment provider offered multiple processing routes,
continued to operate with very little impact on sales.
Beyond the reliability of payment partners, there can always be card network
downtimes or other external factors impacting processes. It is a fair concern from
merchants to refuse to be locked into an exclusive payment partner relationship.
One of the online business interviewed indicated that
they: “…would move away from the current state (two
acquirers - one primary and the other secondary) to a
future state with a payment gateway once
international sales grow and once there is a need for
local acquiring to improve authorisation rates."
The 7 Habits Of Successful “New” Payments Leaders
Best practices and insights by industry front runner


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