When do you know it is the right time to change your payment gateway solution?

Most of the companies would suddenly decide to change their payment gateways owing to a variety of factors. Although the procedure to switch payment gateway is tedious and needs a lot of effort, it would seem to be the right thing to do when you have multiple payment service providers, payment facilitators, merchant service providers etc. Under situations where your existing payment processor is unable to handle all your requests, you should consider it to be about time to explore the new offerings in merchant services industry.

The decision to switch your payment gateway can be based on a variety of factors that include the processing fees for transactions, delayed funding and their capability to accept different currencies and be able to support all your e-commerce transactions from all over the world. For payment facilitators, you will have to make sure that the payment gateway you use provides you with an API that runs smoothly for merchant onboarding and gives your users a seamless experience. Try negotiating with your existing payment gateway provider for the best prices and if you do not think it is competitive, you might have to switch your payment gateway provider.

If you have any questions, please, feel free to contact us.