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Software companies are a preferred client for payment gateways, with 74% of gateways targeting them in their sales efforts, according to the latest edition of the Payment Gateway Directory from TSG, formerly The Strawhecker Group.
TSG says in addition to software companies as favored clients, 83% of gateways target merchant clients.
The most common industry across gateways is retail, a focus for 84% of the 125 gateways surveyed for the directory. Other popular verticals are eating and drinking places, 54%, followed by healthcare, 50%, entertainment, 49%, and hospitality, 49%.
Gateways are evolving their payment methods, too, with 22% offering native support for buy now, pay later transactions, up from 19% in 2022. Their cryptocurrency support, at 14% this year, is up from 13% in 2022 and from 9% in 2021.
Given their online nature, the availability of application programming interface coding for gateways is critical. The directory found that 66%—the same fraction as in 2022—made their APIs and developer centers fully public, compared to 18% that were inaccessible. TSG says the other 16% have developer centers and APIs that are accessible but require additional approval for access.
Omaha, Neb.-based TSG says the directory captures more than 6,000 data points.
