Payment Gateway Vs. Payment Processor Vs. Payment Orchestration: What’s the Difference?
In the world of online payments, there are three essential players: payment gateways, payment processors, and payment orchestrators. Each serves a unique role in facilitating online transactions, and understanding their differences is crucial for businesses. Let’s explore what sets these components apart. Payment Gateway: The Secure Entry Point A payment gateway is a technology that […]
How Do Payment Orchestrators Solve Payment Settlement Issues for Merchants?
If you’re an online merchant who has integrated a payment gateway, you’re likely familiar with the settlement process, where it takes a few days for the money from a sale to appear in your account. While larger enterprises may tolerate this delay, it can pose a significant challenge for small and mid-sized businesses that rely […]
Top Payment Methods in the UK That Your Business Needs to Know
In 2023, an impressive 80% of the UK’s total population, comprising 50 million people, will engage in online shopping. Projections indicate that this figure will rise to 86% by 2027, encompassing 52 million individuals. With such a substantial number of consumers embracing online commerce, there lies a significant opportunity for digital business owners to tap […]
Top Payment Methods In Germany That Your Business Needs to Know
Germany, as a European nation, has traditionally favored cash transactions, with cash accounting for approximately 51% of financial transactions until 2020. Local vendors and merchants’ preference for cash sales played a significant role in this high cash dependency. However, despite this reliance on cash, Germany remains one of the top 10 most profitable e-commerce markets […]
Top Payment Methods In France That Your Business Needs to Know
The French economy, despite facing various challenges, is experiencing a surge in online spending and transactions, largely driven by the digital shift accelerated by the pandemic. This transformation has propelled France’s Payments Market to a projected growth rate of 14.7% CAGR. Notably, mobile transactions constitute 50% of all online sales in the European market. With […]
How Can Merchants Make Their Payments More Resilient?
In today’s rapidly evolving global business landscape, strengthening payment infrastructure is paramount to navigate unforeseen challenges successfully. This blog offers valuable insights on achieving this goal. Dive into the importance of payment resiliency, the hurdles faced by merchants in its pursuit, and discover effective solutions to overcome these obstacles. Continue reading for a comprehensive overview. […]
What Are the Different Challenges and Issues With Cross-Border Payment?
For online businesses, regardless of their domain, facilitating cross-border payments is crucial. This enables them to reach a wider audience and offer their products and services on a global scale. However, with the benefits of cross-border payments come several challenges that must be addressed. In this comprehensive guide, we will explore what cross-border payments entail, […]
5 Ways Payment Analytics Can Drive Business Growth
If you’re a digital business owner and not harnessing the power of payment data, you’re missing out on a wealth of benefits. Payment data, when analyzed effectively, can provide valuable insights for better decision-making and enhancing your offerings. In this blog, we’ll explore the top 5 ways payment analytics can empower your business and boost […]
Top Payment Methods In Nigeria That Your Business Needs to Know
Cash remains a dominant payment method in Nigeria, especially in rural areas where limited awareness of alternative options persists. However, the Central Bank of Nigeria (CBN) is actively working to raise awareness about various payment methods among the population. Another significant development is the introduction of basic and low-cost banking accounts, which aim to optimize […]
Understanding Payment Reconciliation: How It Works and Why Your Business Needs It
In the realm of business, regardless of its size, financial management is paramount. The absence of an efficient financial system can lead to gradual losses, which may become substantial by the time they are identified. This is where payment reconciliation steps in. Payment reconciliation empowers businesses to meticulously track every financial transaction, ensuring a precise […]