Digital Transactions Authoritative, insightful and timely information for payments professionals
The Strawhecker Group’s most recent analysis of 100 payment gateways found that half of them charge a monthly fee, down from 74% in 2019. That is potentially because of the impact of the Covid-19 pandemic, the report says.
Other findings show that 52% of all gateways focus on retail, followed by health care, 22%, restaurant, 19%, and education, 14%. Gateways could select more than one.
Integrated payments provide an opportunity for gateways, and many of them—57%—have open developer-center pages with full access to their application programming interface code with no need for credentials. Among the uses of APIs is enabling disparate software applications to share and communicate with one another.
Other gateway data in Strawhecker Group’s Payment Gateway Directory sponsored by NMI include other fees, geographic focus, corporate structure, integration models, payment types accepted, and reporting tools.
“As the times have changed in the market since Covid-19 has impacted the payments industry, e-commerce has become a critical component for those brick-and-mortars that have had to shift their business model to an e-commerce-accepting business,” Al Novacek, Strawhecker Gateway Enterprise Metrics director, says in an email to Digital Transactions News.
“So the documentation of a gateway is critical to the developers and merchants utilizing a gateway’s platform, and in terms of performance of a gateway, it is critical to the satisfaction and retention of merchants and customers.”
