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Many payment service providers believe that to get a flexible payment system adapted to your business needs, you must develop it yourself. However, it is quite costly and time-consuming.
When it comes to explaining what is a payment aggregator, let's first say that it is a company that enables merchants to accept payments from their customers.
In the wake of the COVID-19 pandemic, the way we purchase goods and services has drastically changed, with online shopping becoming the norm for many consumers. As a result, merchants have had to adapt and provide a seamless virtual shopping experience to their customers.
While financial technologies are driving modern trends in online payments, it is vital to embrace them to stay competitive. Cascading payments are one of the modern payment systems' essential features.
This article will explore intelligent payment routing in detail, dive deep into its fundamentals, and analyze the opportunities it presents to payment service providers and merchants worldwide.
For the last couple of decades, FinTech startups have led the way in adopting the latest technologies in the payments industry. Indeed, we are working hard to optimize, speed up and automate every transaction processing step.
The FinTech industry has been moving by leaps and bounds. With the general digitalization of the world and the COVID-19 pandemic, the online payment industry has changed dramatically only in the last few years, let alone the changes it endured in a decade or two.
The online payment industry is booming and will remain at its peak for a long time to come. That is why now is the right time to start and develop your own payment gateway business.
As an online business owner, you know first-hand how much time and effort are put into identifying the reasons for a low payment conversion rate - and finding the right tools to fix it. It's not surprising since your business does not receive a significant part of the income precisely for this reason.
If you're in the payment processing industry, chances are you've heard the term white-label payment gateway before. It wouldn't be surprising since the product is highly demanded in electronic payment processing.