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It’s possible to escape the unwieldy, heavily patched legacy payment system that’s holding your company back and move up to a full-featured commercial open source software package that can meet your every need while allowing you to maintain total control. If your company is an enterprise payment service provider, payment facilitator or payment software company that is still using a mainframe-based software package created decades ago in a now-obsolete programming language -- or any other system that can see its best days in the rearview mirror -- you can move on. You can finally move forward.

Implementing a new payment gateway is a large project -- no matter how you look at it. But creating a payment gateway from scratch can be particularly daunting, especially since there are so many technical and legal issues that must be considered.
For many companies, it makes sense to license a commercial open source solution rather than reinventing the wheel. This option has its downsides, but in the eyes of many executives, the challenges are considerably fewer than starting from scratch. Which approach is right for you?

 

If you’re located in a part of the world where PayPal isn’t available or you do business in an industry toward which PayPal isn’t favorable, you may have considered building your own payment system with features similar to PayPal. But it is really possible to build your own PayPal alternative for ecommerce payments and money transfers? And can you do it effectively with UniPay?

Online commerce is powered and facilitated by payment gateways, and most companies rely on third-parties to provide their payment gateway software. But why not build your own? As it turns out, there are many reasons for choosing a white label payment gateway or similar turnkey gateway solution over reinventing the wheel.

Maybe your business should be looking into the advantages of PINless debit even though the cost saving and other advantages aren’t as big and impressive as they once promised to be. Adding this capability still makes sense for many companies, and it could be a smart course of action for you.

For some companies, recurring billing simply means making the same charges to the same few customers again and again, and there are many low-cost solutions that can handle something like that. But most dynamic, growing and responsive companies need greater flexibility. It’s possible to partner with a payment system that can truly meet your company’s wide array of specific and changing needs.

If your company is involved in the merchant services industry, you and your clients could probably benefit from the many advantages of an open source payment gateway. While open source products are common in many industries and benefit from collective development efforts, payment gateways have mostly been closed source products until recently.

Payment Facilitators' Role in Merchant Services

Wednesday, 15 October 2014 23:24

Companies that want to become payment facilitators face a number of challenges, but your company may be able to meet those challenges if you clearly understand what’s expected of you and take advantage of the right tools and products, including payment gateway software that does the hard work for you.

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