With different types of payment processing methods emerging, collaborative payment processing has been catching on and every business is looking for different online payment processing solutions as their requirements grow.
Among startups, making use of third-party payment gateway is common as the transaction volume is low. However, as they scale up, a single payment gateway will not be able to offer them with all the required functionalities. Under such circumstances, they make use of multiple payment gateways. This way, they can cope along for a while but will still end up reaching a bottleneck.
The best solution is to make use of a collaborative payment gateway, where companies mutually benefit from their resources. Companies make use of the existing integrations of other companies and as a result, form a payment gateway cloud, which can be leveraged by all companies and it addresses all types of complex requirements.
The diagram below illustrates the benefits of collaborative payment processing and payment gateway cloud. If you are interested in more deatailed information, feel free to contact us.