The problem with payment gateways



Despite having a wide variety of payment gateways (PG) around the world, major problems still exist for the merchants in the emerging markets. Having a wide audience with the income to purchase goods and sufficient access to the Internet is not enough. In fact, many more factors have held up the progress of e-commerce in many emerging markets – even Paypal has decided not to expand into selected markets, in this case, Lebanon.



PG integration can often take weeks, incur expensive setup costs, have a barely localized transaction support, can’t allow merchants and consumers to transact in local currency, charges an extra Foreign Exchange cost for each transaction, and have slow, costly and complex settlements. These are just scratching the surface of the issues plaguing e-commerce worldwide.




Your usual PG runs the following problems:

Legacy Payment Gateways
Consumer experience in only in English
Operates only in USD currency
Setup is inefficient, expensive, time-consuming
Lack of innovation – i.e. mobile payments
Basic payment services and no financing services
Only Cards payments and no solution for C.O.D.
High dependency on acquiring banks



What the world needs is a new innovation in this $9billion market that can do the following

Operate in the language of consumer
Use the currency of consumer
Setup quickly with no upfront costs
Enable mobile payments
Allow tokenization,  insurance and financing
Provide multiple funding sources and solution for C.O.D.


With the constant progress of technology and increasing demand for a better online/mobile payment solution, this industry is ripe for disruption. The e-vendors will look forward to conducting their business faster worldwide and consumers can anticipate being able to make transactions on-the-go. It will only be a matter of time before a major breakthrough can be seen to revolution the way e-commerce is conducted around the world.