5 Guidelines to a Profitable Payment System

Mar 20, 2015

The future of payment systems is bright. This year, the world has seen the integration of payment systems into the lives of consumers, and the evolution of payment technologies in general. This is because of software-development technology that makes it easier to code, the ability for apps to do functions that used to require special hardware, regulators who encourage innovation, and a sophisticated and receptive audience. Research from SRI International and the Massachusetts Institute of Technology’s Media Lab, has created a 5 step methodology to find the most profound and potentially influential payment systems.

Degree of Novelty

A new technology is marketable if it is more than just an old technology in new clothes, but not so far advanced that it intimidates consumers.

Conversion to a Known Medium

99% of transactions are made in specie. New payment concepts almost always fail. If non-specie ideas don’t provide simple convertibility at stable rated, they have a high risk of failing as consumers will not want to deal in a currency that may not last.

Merchants Don’t Have to Purchase New Hardware

It is much harder to get a new payment system accepted if merchants believe it will require too much money to buy new hardware. Ideas that integrate into existing platforms that don’t require merchants to buy additional equipment are more readily utilized and promoted by merchants.


Consumers and merchants should know how the payment process happens. Knowing how clearing and settlement works puts consumers and merchants at ease and establishes trust.

Easily Understood

While dealing with payment processing technologies, it is extremely important to create methods and interfaces that the average adult can understand. Focus groups are a great way for payment processing companies to determine what technologies are simple enough for consumers to work with.

The proper usage of these 5 guides will help payment processors create functional, usable, and profitable systems. If you are a payment processor, your business is considered high risk. The high risk merchant account managers at eMerchantBroker.com specialize in creating and maintaining merchant accounts that most payment processors often deny.


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