How Payment Channels Determine the Scalability of Your Online Business

Why does payment gateway companies have a huge list of payment channels?

As the competition between payment gateways rise, they may find ways to attract potential merchants to sign up for their service. One of which is the number of payment channels proposed by the payment gateway.

Payment channels refer to the links or connections made by the payment gateway to financial institutions, such as banks, payment aggregator, or any other third party payment service operator.

As a merchant, you would want to know how the number of payment channels affects your online business. The number of payment channels becomes a measure of how many different kinds of payment your online business can receive. Simply put, you enhance your customer’s convenience by allowing them to pay with more alternatives.

In addition to the conventional online payment channels, there seems to be a new development of paying through offline alternatives.

Offline payment channels offers payment through offline channels, such as cash based payment that would definitely improve the number of market segments of your online business.

Razer Merchant Services provides a huge selection of both online and offline payment channels, which will significantly improve your market segments. It provides over 20 online payment channels with more than 3,000 physical points across Malaysia.