opinion

The Perks of Multiple Payment Gateways

The Perks of Multiple Payment Gateways

When it comes to payment gateways and processors, many businesses make the mistake of only utilizing one, even though offering multiple options could lead to faster revenue growth.

After all, a merchant looking to innovate must constantly evolve their infrastructure and develop a keen understanding of how to effectively market to target audiences. Utilizing a broad array of payment gateways to expand their reach into new demographics, geographies and more is thus a smart move.

Your ability to reroute transactions through alternative gateways without disruption to your business can have a major positive impact on revenue.

There are constraints, however, with merchants needing to find the best payment solutions for their e-commerce needs, without the limitations or delays other businesses may face. So, how can a merchant pivot to new payment options without losing their current momentum?

Elevate the Customer’s Experience

Customers are much more likely to come back and give repeat business if they are provided with an excellent customer experience. This includes offering an easy-to-use website, increasing the number of accepted transactions you have, approving transactions more quickly and being able to accept many different types of payments conveniently.

A company that cannot accept payments the way their customers prefer may lose out to competitors that can better suit their needs. To ward against this, make sure to reduce false declines, cut latency and give customers the ability to pay how they prefer; these three things are essential to providing a great customer experience.

Stay Ahead of the Curve

One of the most significant benefits of utilizing multiple payment gateways is the ability to stay ahead of the curve, especially as digital payments continue growing at a fast rate amidst the current e-commerce boom. With more competitors entering the online marketplace than ever before, disruptive business models are following suit.

Plus, you can hedge your bets against fraud and chargebacks, by being able to divert transactions to another partner if one gateway proves less than ideal based on contract requirements, fees and other issues. This can allow you to keep better relationships with your payment companies and customers alike.

Harness Cross-Border Opportunities

Having multiple payment gateways allows you to change swiftly, while increasing your geographic reach. This is especially true given that cross-border sales are increasing, while the costs for shipping and selling across borders is decreasing. Consider the fact that half of the payment gateways transact in only one or two currencies, and it becomes clear why connecting to multiple gateways is optimal for taking more currencies overall.

Easily Handle Sales Spikes

Your ability to reroute transactions through alternative gateways without disruption to your business can have a major positive impact on revenue, especially since not all gateways can handle the volume of sudden spikes in sales increases. Also, you can support merchant accounts with more flexibility using multiple gateways with the distinct pros and cons of different providers, like combined gateway and merchant accounts, as well as gateway-only providers.

Mitigate the Potential Downtime

The ultimate takeaway from having multiple payment gateways is the importance of having a backup plan in place. As with any technology, payment gateways are not perfect. Very rarely does the proverbial hamster fall off the wheel, but when it does (and it’s out of the merchant’s control), a backup should be in place to switch over seamlessly. Most gateways tout a 99.9999% uptime, but what about that 0.0001%? It’s considered a best practice by any payments professional worth their salt to have a secondary gateway in place to cover any potential downtime.

Jonathan Corona has 15 years of experience in the electronic payments industry. As MobiusPay’s EVP, Corona is primarily responsible for day-to-day operations as well as reviewing and advising merchants on a multitude of compliance standards set forth by the card associations. MobiusPay specializes in merchant accounts in the U.S., EU and Asia. Follow them @MobiusPay on Twitter, Facebook and IG.

Related:  

Copyright © 2025 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More Articles

profile

WIA Profile: Paulita Pappel

Raised in Spain, surrounded by a predominantly Catholic community, Paulita Pappel grew up being told porn was bad. When she became a feminist, she was told her fascination with porn was not in line with her desire to empower women. This inner conflict made her feel like there was something wrong with her.

Women In Adult ·
opinion

Complying With New Age Assurance and Content Moderation Standards

For adult companies operating in today’s increasingly regulated digital landscape, maintaining compliance with card brand requirements is essential — not only to safeguard your operations but also to ensure a safe and transparent environment for users.

Gavin Worrall ·
opinion

Understanding the FTC's New 'Click to Cancel' Rule

The Federal Trade Commission’s new “Click to Cancel” rule has been a hot topic in consumer protection and business regulation. Part of a broader effort to streamline cancellation processes for subscription services, the rule has sparked significant debate and legal challenges.

Corey D. Silverstein ·
opinion

Key Factors for Choosing a Merchant Services Partner

Running a successful adult business requires more than just delivering alluring and cutting-edge products and services. Securing the right payment processing partner is essential to maintaining a steady revenue stream.

Jonathan Corona ·
opinion

Identifying and Preventing Transaction Laundering

Recently, a few merchants approached me after receiving compliance notifications from their acquirer about transaction laundering. They were unsure what it meant, and unsure how to identify and fix the problem.

Cathy Beardsley ·
profile

WIA: Alexis Fawx Levels Up as Multifaceted Entrepreneur

As more performers look to diversify, expanding their range of revenue streams and promotional vehicles, some are spreading their entrepreneurial wings to create new businesses — including Alexis Fawx.

Women In Adult ·
opinion

Navigating Age-Related Regulations in Europe

Age verification measures are rapidly gaining momentum across Europe, with regulators stepping up efforts to protect children online. Recently, the U.K.’s communications regulator, Ofcom, updated its timeline for implementing the Online Safety Act, while France’s ARCOM has released technical guidance detailing age verification standards.

Gavin Worrall ·
opinion

Why Cyber Insurance Is Crucial for Adult Businesses

From streaming services and interactive platforms to ecommerce and virtual reality experiences, the adult industry has long stood at the forefront of online innovation. However, the same technology-forward approach that has enabled adult businesses to deliver unique and personalized content to consumers worldwide also exposes them to myriad risks.

Corey D. Silverstein ·
opinion

Best Practices for Payment Gateway Security

Securing digital payment transactions is critical for all businesses, but especially those in high-risk industries. Payment gateways are a core component of the digital payment ecosystem, and therefore must follow best practices to keep customer data safe.

Jonathan Corona ·
opinion

Ready for New Visa Acquirer Changes?

Next spring, Visa will roll out the U.S. version of its new Visa Acquirer Monitoring Program (VAMP), which goes into effect April 1, 2025. This follows Visa Europe, which rolled out VAMP back in June. VAMP charts a new path for acquirers to manage fraud and chargeback ratios.

Cathy Beardsley ·
Show More