Gateway Services act as a bridge between merchants, acquirers and banks. The right gateway is also the hidden gem of cashflow. Rob Crutchington, CEO of Encoded, outlines the questions to ask your gateway service provider.
Merchant Banks offer comprehensive and seductive packages, which include payment gateway services to accept and process transactions. As part of the ‘back engine’ of transaction processing the costs associated with gateway services can be out of sight as part of a blended tariff.
Reduce costs and increase security with an independent gateway service provider
1. How easy is it to connect with multiple acquirers?
The benefit of choosing an independent gateway solution, like Encoded, is that it is not aligned to a particular bank, it can connect to multiple acquirers and therefore provide flexibility to select the most favourable rate; sometimes called least cost acquiring.
2. Can you support multiple Alternative Payment Methods (APMs)?
3. What about network tokens for recurring payments?
Reliability and choice for a better customer experience
The Wine Society has benefited from implementing Encoded’s Gateway solution to support its contact centre. With cash flow a top priority, ensuring that payments are processed efficiently and ideally first time around is vital for The Society. The Encoded Gateway links directly to The Society’s acquirer to process over tens of thousands of transactions every month, and can be easily scaled up to accommodate increased demand in the future.
Encoded’s Gateway Services provide a cohesive experience for agents, and The Wine Society members by integrating with other Encoded solutions, including ecommerce payments. This gives members a choice of ways to purchase and pay with all transaction information shared securely between different sales channels.
Contact us for more information on how Encoded’s Gateway services could benefit your business or read our Wine Society case study.
Rob Crutchington is CEO of Encoded.
