Starting a payment gateway
Payment gateways have captured the imaginations of e-commerce entrepreneurs and customers alike. This has mainly been due to the increased importance of e-commerce. E-commerce is now in every part of our lives. This is true in developed countries. A majority of the population in the United States have once purchased something online. This makes Payment gateway a very lucrative business venture. Payment gateways perform a lot of tasks in e-commerce. They process payments to online merchants, prevent e-commerce fraud and provide escrow technology. There are numerous payment gateways operating around the world and all of them provide similar services.
A look at some payment gateway companies
Let us take a look at some of the most popular payment gateway companies. These are payment processing companies that are regularly used by e-commerce merchants.
PayPal: Paypal entered the online payment sector earlier than most companies on this list. What most people probably don’t know is that PayPal was a merger between two rivals. It was later purchased by eBay. PayPal is the largest payment processing company on the internet. It is well known for its diverse services. PayPal offers many services to its customers such as PayPal credit which offers customers online financing for purchasing products online. PayPal has credit card processing technology for companies and online merchants.
Stripe: Although stripe is relatively new to the online processing scene it is one of the fastest growing companies. The main reason why Stripe has captured the imagination of most entrepreneurs is the fact that the company is only 6 years and it is already worth more than 9 billion dollars. In addition to other payment gateway services, it offers Fraud preventing services for online merchants.
What you should focus on
When creating a payment gateway company you should focus on the competition and what you can do better than the above competitors.