Your customers are online, so you need a plan to accept payments as part of your e-commerce application. Of course payments are how you make money — but they’re also a critical part of the buyer’s experience. That’s why we’re seeing more and more merchants choosing to add more flexibility to their payments stack. And that flexibility starts by leveraging a “gateway of gateways” approach.
What is a Gateway of Gateways?
A gateway of gateways is an aggregation of multiple payment gateways via a single API. It allows your company to connect once to a single endpoint and then transact via any gateway you want. This approach is the new default because it allows merchants to:
- Mix and match their payment services. Merchants often find they have different success rates in different regions with each payment gateway. If you had the flexibility to switch between gateways, you’d have more power to boost your success rates.
- Expand internationally. You might be pleased with your current gateway provider, but find that they don’t support a country or region that you want to expand to. A gateway of gateways approach lets you select the right gateway or gateways for the regions you focus on and want to grow in.
- Enhance redundancy. Your e-commerce service must be always active and ready to process payments. By connecting into multiple gateways, you can readily switch between services as needed if latency or downtime become a concern.
- Vault independence. The credit cards, debit cards, and other payment methods that you store in your vault are a critical asset for your business. By taking a gateway aggregation approach, you control your payments vault and can transact against whichever gateways your business prefers.
Spreedly’s agnostic approach to gateways means we aggregate access to over 120 payment gateways — delivering on the concept of a gateway of gateways. Want to learn more about this approach? We’ve pulled together a few resources that look at the concept and benefits of a gateway of gateways in more detail.
A Data-Driven eBook Looks at Advantages of Using a Gateway of Gateways Approach
In this paper, Spreedly’s data science team analyzes millions of transactions to see how success rates and latency times vary by gateway across regions. The paper highlights the value of selecting the right provider for different regions to optimize success rates.
A Synopsis of the Value of Spreedly’s Gateway Agnostic Approach
This section of the Spreedly website explores the key values of connecting to multiple payment gateways.
A Video Exploration of Gateway of Gateways
In this interview with Shoresh Shafei we explore in more detail the data analysis from the eBook mentioned above. We learn in more detail how success rates and latency times can vary significantly across currencies, and how you can address that.
The 5 Rs of Aggregating Gateways
In this post, Spreedly looks deep into the business advantages of integrating into a gateway of gateways. Helpfully structured as “5 Rs”, you’ll see how ROI, redundancy, regulation, and more can be enhanced with this approach.