Why Merchants Don't Want A One-Size-Fits-All Solution

Dealing with merchants daily, we at UpGate understand the main concerns of businesses seeking the best-performing payment strategy. As the fintech market evolves, we want to highlight its notable trends to follow and key concerns and pains we address in our discussions with clients and partners.

1. Shifting from single payment providers to unified payments

Stripe, Adyen, and PayPal have long been the dominant participants in the payments ecosystem that provides comprehensive solutions that cover transactions, fraud detection, and payouts. Besides, integrating and managing many services simultaneously can be challenging, especially when considering costs, fees, and optimising them for different markets.

However, a single payment provider cannot satisfy the needs of business serving global customers, and the big players has already got that: for example, Stripe has recently announced that it will be de-coupling payments from the rest of its financial services stack and open up their ‘walled garden’ for the sake of merchants that became much more educated about payment strategy diversification.

💎 At UpGate, we are building a unified payment infrastructure to accelerate our clients' growth. As an orchestration platform, UpGate offers various payment methods, service providers, and antifraud solutions that can be easily integrated, or ‘plugged’, into a merchant’s payment stack. Sometimes there is an urgency for payment integrations, and here we assist you with a single integration method enabling dozens of payment methods for your business.

2. Smart routing and cascading are the kings

Adopting smart routing and cascading solutions can significantly improve payment performance. According to market feedback, businesses using these systems have reported up to a 40% reduction in transaction costs and a notable increase in approval rates. In our experience, using the payment orchestration platform increases the payment approval rate by an average of 10-15% compared to cases where the merchant did not previously use payment orchestration services.

To grow payment conversion and acceptance rates, we at UpGate implemented a smart routing and cascading. This tool selects the appropriate gateways based on merchants' preferences, and conditions can include factors such as transaction value, payment method, the user's card issuance country or type of card.

3. Processing payments from American card holders by overseas companies

According to Security.org, 60% of the US credit card holders have been victimized by fraud, and 45% have experienced fraud multiple times. Only 7% of fraudulent charges involved stolen or lost credit cards; the rest accessed personal data and account information remotely.

Yes, it can be challenging and even risky to accept payments from the US market, and we often see European merchants worried about the high rate of fraud. At UpGate, we partner with several acquirers that are tolerant of US traffic while serving a European legal entity. We will definitely get you covered.

❓Are there any persistent pains or confusions that your current payment partner can't solve?

👉 Get in touch with Sergei Peshkov to fix them all and request a demo of UpGate.