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Does your business accept digital payments? If so, you are probably familiar with payment gateways and payment processors. In case you’re new to these terms, this article will define what a payment gateway and processor is, which gateways and processors TokenEx supports, and how these entities help you process card-not-present transactions and thus earn sustainable profits.
What Is a Payment Gateway?
A payment gateway is a type of software designed to facilitate the exchange of credit and debit card data. These companies are the connections or gateways that enable merchants, service providers, acquiring banks, issuing banks, and customers to interact via ecommerce channels. Specifically, gateways are responsible for exchanging data via card-not-present channels. Indeed, a gateway is necessary for merchants to connect to the parties and services needed to process card-not-present transactions, such as payments made via phone, mail, or online. Examples of payment gateways include:
- Authorize.net
- Braintree
- PayPal
- Stripe
- Worldpay
What Is a Payment Processor?
A payment processor is a connection between merchants and financial institutions. These processors enable merchants to interact with banks and other financial organizations to exchange payment details necessary to accept payment methods, such as credit and debit card transactions. Processors also connect credit card machines at the point of sale to banks and merchants. Examples of payment processors include:
- BitPay
- Flagship
- MerchantOne
- Payment Depot
- Square
Which Gateways and Processors Does TokenEx Support?
At TokenEx, our clients enjoy the flexibility, cost savings, and freedom to choose which third-party partners to work with based on their unique, evolving business needs. Indeed, these advantages set us apart from other tokenization or payment providers that limit clients regarding who they can integrate with. Unfortunately, the payment services industry benefits from restricting merchants. Payment service providers (PSPs) can earn more profits by creating restrictions that make it cumbersome for merchants to add new processors and gateways or leave their current integrations. Known as processor lock-in, these restrictive practices include layered services, complex conversions and integrations, and other operations that limit a merchant’s ability to work with multiple providers.
On the other hand, tokenization providers like TokenEx enable clients to integrate with multiple payment gateways and processors. How does this work? Two things must happen. First, an API call can reach a payment gateway or processor. Secondly, the client doesn’t mind using our Transparent Gateway API 2.0 to complete the integration process. If these two requirements are met, TokenEx can connect to the gateway or processor.
Since TokenEx can support any third-party gateway and processor, this article would have an exhaustive list with hundreds of integrations. Instead, it’s easier to emphasize that our robust cloud tokenization platform allows clients to connect to any combination of payment gateways and processors as needed.
Payment Services
To make processing with multiple third parties even simpler, TokenEx Payment Services 2.0 can be used to seamlessly connect to multiple third-party APIs via a single, maintenance-free integration point. With the connection, clients can easily transact with their desired combination of payment gateways and processors. In turn, the Payment Services 2.0 API can help merchants achieve rapid speed-to-market, global expansion, higher conversion rates, and much more. Additionally, TokenEx clients can save time, money, and energy on the typical complex PSP integration process of building, maintaining, and certifying integrations.
Our current integrations include:
- Adyen
- Authorize.Net
- BluePay
- Braintree
- ChaseNetConnect
- CyberSource
- Elavon
- Nuvei
- Stripe
- Payeezy
- EBANX
Enjoy a Flexible Payment Integration Process
Whether you are a small, medium, or enterprise business, you need a reputable partner that can help meet your payment processing needs, boost your revenue streams, and scale your business. By partnering with a robust tokenization provider like TokenEx, your organization can seamlessly connect with any payment processor or gateway. Just remember that the integration must be able to connect via an API call and use our TGAPI 2.0. Say goodbye to payment providers restricting you from integrating with the third-party partners you need and charging you ridiculous fees for accessing your tokens, connecting to new providers, or removing old integrations. You deserve a security solution that grows with your company and requires minimal effort to integrate with PSPs. Indeed, the right provider can help you maintain critical business operations, drive profits, and improve the customer checkout experience.
