How a Payment Gateway Can Lead to Business Growth

Build one solution that meets all of your customers’ needs – including accepting digital payments.

Customer success is key to your business growth. In the highly competitive banking and software spaces, however, delivering the ROI your customers are looking for can be a challenge. Fortunately, there’s a strategy that will help you move the needle on meeting customer expectations and grow your business in an increasingly digital world: Partner with a payment gateway. 

A payment gateway allows merchants to accept digital payments from their customers, from credit, debit or mobile wallet payments in a store to online e-commerce and m-commerce payments. By partnering with a payment gateway, you can provide those capabilities – and greater agility — to your customers. 

Add New Dimensions to Your Offerings

The world changed quickly in 2020 when the pandemic struck. Stores, banks and other physical facilities closed their doors in an attempt to control the spread of coronavirus – and digital channels were the only way they could continue to engage with customers and keep revenues coming in. A payment gateway integrated with your services gives your customers the ability to adapt to change when a crisis strikes. 

However, the value you can add to your solutions and services exceeds giving your customers greater flexibility and business continuity. Integrating your solutions and services with omnichannel payment capabilities allows merchants to: 

  • Add e-commerce and m-commerce channels: Merchants who do business online aren’t limited by geography, so a brick-and-mortar company that adds omnichannel capabilities can grow its reach and revenues.
  • Enhance payment convenience: B2B billers can give their customers the option of paying online using a link or QR code, rather than requiring customers to pay by check. 
  • Establish recurring payments: Your customers who provide regular services or subscriptions can use payment gateway services to establish automatic, recurring payments. With this capability, merchants can invest less time and labor into invoicing and collections and build more predictable cash flow. 
  • Accepting call center payments: When you work with a payment gateway, you can connect your customers with additional services, such as virtual terminal. This technology enables merchants to accept payment cards by entering account information into a “terminal” on a web browser, making credit or debit card payments — even those by phone — quicker and easier. 

Virtual terminal doesn’t require integration with your solutions. However, you can enable your customers to access it from your system’s dashboard, giving them the convenience of all the tools they need in one place so that they can provide efficient service. 

Benefits of a Top Payment Gateway

Staying relevant in your market will depend on your ability to deliver the payment functionality merchants need to meet their customers’ demands and expectations. However, don’t enter into a partnership with a payment gateway without doing your due diligence to ensure it provides:

  • Robust security: One of the benefits of using a payment gateway is the state-of-the-art security it provides. Leading gateways are certified for compliance with the Payment Card Industry Data Security Standard (PCI DSS) and also meet data privacy and security standards, such as the EU’s General Data Protection Regulation (GDPR). Your customers will also benefit from features such as tokenization, which allows them to store a randomly generated token rather than card data for the convenience of returning customers, and solutions that authenticate purchases and decrease fraud. 
  • Simple onboarding: Leading payment gateways have developed processes that simplify merchant onboarding, eliminating complex implementation and certification processes. Your customers who choose the payment gateway’s services can begin accepting payments almost immediately.
  • Integrations: Leading payment gateways give your customers the advantage of integrations with B2B software integrations and consumer-facing features, such as accounting software and e-commerce shopping carts. Forward-thinking payment gateways have covered all the bases so that the solution you provide meets all of your customers’ needs. 
  • White labeling: The right payment gateway will offer white labeling, allowing you to provide payment services under your brand. You may even have the option to innovate and provide unique services tailored to your market, testing them in the gateway’s cloud environment risk-free before introducing them to your customers. 

Grow Your Business

As your customers adapt their businesses to an increasingly digital world, they will require omnichannel payment functionality. Meeting this need along with providing the services and solutions you have created for your market will help differentiate your business – and build sustaining relationships with satisfied customers. 

When you help your clients’ businesses grow by enabling them to expand their reach, adapt to meet changing consumer demands, and operate efficiently and profitably, you’ll grow your customer base and grow your business. 

Leveraging a partnership with a payment gateway is an important step in reaching those goals.