Payworks is the provider of next generation Point of Sale payment gateway technology. Developers of POS solutions for merchants can quickly and cost-efficiently integrate card payment functionality into their applications, and securely process EMV, contac
1. What is a payment gateway
A payment gateway facilitates the payment processing for a business, allowing credit and debit card payment to be accepted. The gateway provides the infrastructure and security needed for the transmission of transactions data, eliminating the need for merchants to integrate a full payment processing platform. Historically payment gateways have only been associated with e-commerce, but as trends continue to move to more omni-channel solutions, we’re seeing more integrated Point of Sale solutions backed by modern payment gateways. Also, as we move to more modern payment gateways, it’s good to point out that some gateways are domestic only, connecting to just Us-based processing platforms and acquirers. Others will be more global in nature, connecting to multiple processing platforms and acquirers throughout multiple geographic regions.
2. Why Use a Payment Gateway?
A payment gateway should ultimately save you time and resources so focus can be placed on core business needs. The right payment gateway will do most of the heavy lifting by reducing payment complexity into understandable processes. Through one provider, ISOS can ensure that their merchants receive secure and reliable transactions processing, settlement, reporting and the ability to integrate with other channels. By choosing the right gateway partner, ISOS warrant their merchants the ability to start selling immediately, rather than waiting months for certifications, which is a great competitive advantage. 3. What should a company look for in choosing a Payment Gateway?
As an ISO, selecting a payment gateway provider to partner with is an important task. Consider factors such as ease of integration and use. The goal of the payment gateway is to make payment acceptance easier, so finding the gateway which can be integrated with ease and speed also one which is compatible with most systems, should be at the top of your list. Selecting a payment gateway which his feature rich is also important. Merchants shouldn’t be limited because the gateway doesn’t support needed functionalities. It’s also important to take into consideration where your clients want to be, domestic or international. Not all payment gateways will support global processing. Choose the payment gateway that offers the tools required for today and tomorrow.
4. Does a Payment Gateway work for card present payments?
There’s an increasing number of merchants working with cloud-based and omni-channel solutions. This means we’re seeing more integrated platforms on the market which includes both a modern payment gateway and traditional card present solution. Today’s payment gateways can accept transactions from multiple entry points which allows merchants to use one platform for all their sales channels regardless if card-not-present or card-present. ISOS should seek out these gateways for their merchants, as these sophisticated systems will support most, if not all, merchant needs and have the capacity to grow alongside the expanding needs of the merchant.