How would you rate your payment gateway?
Payment gateways play a unique role at the intersection of B2B payments, where merchants, banks, acquirers and processing networks meet. Over the years, gateways have evolved from electronic transaction traffic cops to sophisticated commerce enablers. Today’s next-gen gateways, like VyaPay, provide multipoint security and a single-access view of commercial payment flows across an enterprise. Their advanced capabilities drive transparency, security and trust.
Four key benefits
In addition to dynamically routing and consolidating transactions, payment gateways manage multiple communications protocols, POS systems and processing networks. They provide consolidated reporting and remove sensitive data from merchants’ scope, making it easier for merchants to manage PCI audits and historic and real-time transaction data.
Following are four key benefits of gateways:
Transparency:
Gateways provide a consolidated, single-access view of payment transactions, simplifying batch processing and reporting, improving inquiry response times and removing redundant, manual reconciliation processes.
Security:
Gateways mitigate risk by tokenizing payment transaction data, replacing actual cardholder account numbers with unique single-use tokens. By enforcing the highest standards of payment card industry security and PA-DSS, gateways prevent credit card numbers from entering the payment stream and limit the scope of PCI audits.
Connectivity:
Gateways enhance connectivity across multiple POS systems, driving seamless card acceptance, network redundancy and end-to-end communications to processors and banks.
Neutrality:
Gateways are customizable to fit unique requirements. They are easy to update, which gives end-users more control of their payment card processing. System rules, communication methods and processing endpoints can be changed on the fly. The ability to tokenize and redirect transactions at the gateway level simplifies overall operations and eliminates the need for recertifications and massive portfolio migrations.
Four-point scorecard
It’s easy to overlook the critical role that gateways play in providing vendors, channel partners and end-users with a seamless customer experience. Like other aspects of payments, they operate invisibly in the background, efficiently routing and managing day-to-day transaction flows.
Considering all the ways in which gateways facilitate seamless B2B commerce, how would you rate your gateway according to the following key performance indicators?
Agility:
Fast response times are critical to success in today’s commercial environment. How fast are your gateway’s average transaction speeds? What percentage of declines are you seeing, compared to your percentage of approved transactions?
Authorization Rate:
Gateways are required to pass/fail transactions at scale. The data derived from failed authorizations can give you insights into your gateway’s real-time decisioning. Ideally, authorization failures that have nothing to do with network outages or processor, issuer or cardholder issues, should be minimal.
Gateway Uptime:
Continuity and fail-over are basic requirements for gateways. Even minute outages can impact your entire value chain. Gateways need network redundancy and back-up communications to function optimally and mitigate service interruptions.
Flexibility:
Network operators and business owners need to react quickly in the fast-moving processing environment. Advanced technologies enable gateways to automate repetitive tasks and detect anomalies. Their customer portals and reporting tools require minimal training and are secure, flexible and easy to use.
In the fast paced world of B2B commerce, giving business owners more control of their payments can help them deliver an exceptional customer experience. As they grow and scale, merchants need to manage old and new systems while maintaining compliant, up-to-date processing technology. Gateways, like VyaPay, help them move ahead while meeting these requirements.
Discover VyaPay
VyaPay’s PCI Level 1 certified payment gateway gives business owners the agility, connectivity and flexibility needed to grow and scale. As a leading payment facilitator and payment technology provider, we help businesses get the most out of payment card processing. Our experienced team works across numerous industries and sectors. We guide partners through the nuances of electronic payments by evaluating their specific needs and business models.
At VyaPay, we recognize that no two businesses are alike. We deliver tailored solutions that maximize efficiency, security, and cost savings. Our processing solutions comprise a unique, comprehensive blend of bankcard expertise, operational service and support, and technology that accelerates each customer’s journey to an improved bottom line.
VyaPay’s advanced technology suite includes VyaShield, a chargeback automation system that helps merchants recover more revenue by reducing or eliminating chargebacks. Graphical reporting tools and real-time analysis save VyaPay partners time and money.
VyaPay processes a range of in-store and Card Not Present electronic payments, including major card brands, ACH, eChecks, 3D Secure, 3DSv2 and cross-border payment schemes. The company partners with merchant acquirers, ISOs, ISVs and VARs to help merchants of all sizes and industries transform the B2B experience. For more details, visit www.vyapaypayments.com or contact us directly at 833-4-VYAPAY.
