The Impact of Value-Added Services On The Payment Gateways

Mar 27, 2017

With e-commerce becoming more globalized, merchants are looking for opportunities to benefit from the process and partner with a payment gateway.

Value-added Services for Global Payment Gateways

Value-added services are important for global payment gateways. When it comes to merchants who extend their reach to other countries, they get support from payment service providers. Merchants are offered front-end processing and appropriate alternative payment methods through a single payment gateway, and are also offered local and international acquisition.

In the recent years, gateways have become widespread, as a result of which payment gateway services have become commoditized. Thanks to this and other factors, value-added services are serving as a game changer in the field.

Reputable payment processors like emerchantbroker.com provide exceptional payment processing opportunities to merchants of any type and size. With EMB, the #1 high risk processor in the US, you can get the right payment gateway for payment processing. EMB offers multiple payment gateways, including its own one.

Real-time fraud prevention backed by expert risk analysts, business intelligence, one-click and recurring payments, consolidated reporting and analysis, tokenization, loyalty and gift card programs, and mobile SDKs are all examples of value-added services that aim to make merchants’ business operations more simple and streamlined.

What Is Important for Payment Gateways?

On the one hand, PSPs and ISOs work with different payment and risk needs, the value-added services that are most suitable or fit best within their proposition will undergo considerable changes.

On the other hand, payment gateways are increasingly becoming integrated with eCommerce or shop plugins. SaaS-based or self-hosted plugin integration plays another important role in the sphere of payment gateways.

Strategic partnerships with specialist technology providers are becoming the most important factor in this regard since payment gateway providers can’t build all the services alone. Thanks to these partnerships, agility and flexibility demanded by merchants are becoming immediately accessible for payment gateways. This is influencing the nature of the payment gateway mode. The point is that these partners put forward a variety of value-added services that play a crucial role in enhancing PSP proposition and making merchants “stickier.”

 

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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