Report: Merchant Services Providers Should Own Gateways
Feb. 19, 2013
Boston-based payments consultancy Aite Group released a report urging merchant services providers to expand their offerings to meet the needs of merchants, which increasingly are geared toward an omni-channel environment. It’s no longer enough to sell payment terminals, the report said. Merchant acquirers should consider owning payment gateways to serve these merchants and take advantage of increasing demand for global payment acceptance solutions.
“Providers that continue to distribute stand-alone payment terminals as a primary method of merchant acquisition face a rapidly diminishing target market as integrated POS solutions provide an ever-increasing set of cloud-based services at ever-decreasing prices,” said Rick Oglesby, senior analyst with Aite Group and author of the report. “Those successful i n marketing omni-channel payment gateway solutions will enjoy a solid opportunity—one that will coincide with EMV mandates.”