{"id":4595,"date":"2019-06-05T18:04:07","date_gmt":"2019-06-05T18:04:07","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4595"},"modified":"2021-06-15T21:31:52","modified_gmt":"2021-06-15T21:31:52","slug":"pf-relationship-101-marry-your-processor-or-date-your-gateway","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/pf-relationship-101-marry-your-processor-or-date-your-gateway\/","title":{"rendered":"PF Relationship 101: Marry Your Processor or Date Your Gateway?"},"content":{"rendered":"\n<p>Relationships, by nature, are complicated. And the payments world is no different. We have codependency issues, monogamy issues and even a fluctuating divorce rate. So when it comes to the payment facilitator model, is it better to commit yourself to one processor? Or is it better to play the field with a more agnostic gateway?<\/p>\n\n\n\n<p>PF WORLD 2019 examined this issue with a panel of \u201crelationship experts,\u201d so to speak, from companies including Very Good Solutions (VGS), BridgePay, Poynt and ScanSource. Moderated by Infinicept CEO and Founder Todd Ablowitz, panelists discussed the PF journey in terms of when to date and when to marry \u2013 what is the best option for you and your business?<\/p>\n\n\n\n<p>The speakers pointed out pros and cons of both approaches. For many startup PFs, the idea of having one single point of contact to manage everything from reporting, chargeback management, tokenization and the like can be a very tempting proposal. Ultimately, it\u2019s easier. On the flipside, the dating option that gateways provide offers a more flexible approach, but it\u2019s also more complex.&nbsp;<\/p>\n\n\n\n<p>VGS Co-Founder and CEO Mahmoud Abdelkader tends to favor the dating approach: \u201cI think the dating versus marriage problem is if you\u2019re dating, you can always plug in your version of whatever it is that you\u2019re purchasing, rather than being married and then having to divorce, which is a very costly solution,\u201d he said.<\/p>\n\n\n\n<p>And what about from the perspective of your customers? BridgePay Chief Revenue Officer Carlee Hudachko scores another point for the dating approach here: \u201cYou also look at scalability and the number of merchants that you have as being a PF. You\u2019re dealing with hundreds, thousands of merchants and not everyone is going to want to deal with that same processor, so you need to definitely have that flexibility,\u201d she said.\u00a0<\/p>\n\n\n\n<iframe loading=\"lazy\" width=\"560\" height=\"315\" src=\"https:\/\/www.youtube.com\/embed\/Os58mCpl4p0\" frameborder=\"0\" allow=\"accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen><\/iframe>\n\n\n\n<p>Having the ability to utilize various different products and not being locked into just one provider for all your services can clearly be a big win for PFs. But what about building versus buying when it comes to establishing your platform? How doable is it to own your payments future, and where do you draw the line between letting someone do everything for you and trying to do everything yourself?<\/p>\n\n\n\n<p>When it comes to owning your future in the world of payments, a recurring concern seems to be upkeep. \u201cOne of the main things people forget about is hardware acquisition, software upkeep, keys upkeep and all those things,\u201d explained Brandon Audisio, senior product engineer for ScanSource.&nbsp;<\/p>\n\n\n\n<p>\u201cThe main thing you\u2019re looking to do is differentiate your product, your software solution, to the field. And one of the things I\u2019ve seen myself over the years in this industry is [PFs] don\u2019t pay enough attention to things like troubleshooting, how do I get my software updated, how do I maintain compliance, things of that nature.\u201d<\/p>\n\n\n\n<p>And finally, when discussing building out your own infrastructure versus allowing someone else to do everything for you, Poynt General Manager Vinny Breault seemed optimistic about using solutions from multiple providers:&nbsp;<\/p>\n\n\n\n<p>\u201cI think as technology increases and as we connect our partnerships more and more, that\u2019s essentially your own risk solution in-house, so you don\u2019t have to build your own risk team (a big and costly part of the equation). As long as you have the right partners that are able to scale and are flexible in their infrastructure, I think it\u2019s possible and I think you can do it fairly quick,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relationships, by nature, are complicated. And the payments world is no different. We have codependency issues, monogamy issues and even a fluctuating divorce rate. So when it comes to the payment facilitator model, is it better to commit yourself to one processor? Or is it better to play the field with a more agnostic gateway?<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[121,385,688,709,781,876,877,946],"class_list":["post-4595","post","type-post","status-publish","format-standard","hentry","category-archive","tag-bridgepay","tag-how-to-become-a-payment-facilitator","tag-pfworld2019","tag-poynt","tag-scansource","tag-the-payment-facilitator-landscape","tag-the-payment-facilitator-model","tag-very-good-security"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4595","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4595"}],"version-history":[{"count":1,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4595\/revisions"}],"predecessor-version":[{"id":7200,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4595\/revisions\/7200"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4595"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4595"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4595"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}