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  • Writer's pictureVivek Singh

Why are many companies coming out with their own gateways?

Updated: Mar 2, 2023



Because technology is developing at a rapid pace and at the same time offering the best customer experience, this question is crucial for new businesses, especially for those entrepreneurs who want to build their own company, or you could say their own payment gateway company, along with the most up-to-date technology solution platform.


There are a lot of large businesses that have already established themselves in the market and are offering payment gateway solutions, but if you look at how their customers feel about them on Facebook or another social media platform, you will see that they are not happy. This is because they lack a good way to interact with the customer or to directly address their problems; instead, they must wait for a reply to a letter they have already sent. You can immediately contact their unresponsive customer or your former company.


Hence, in these situations, the company that is developing a mobile application and a website steps forward to address the problems that they are having with their current service providers. Due to the fact that start-ups have become more common in recent years, perhaps there are better product solutions and better rates available for acquiring clients. Improved IT skills also translate into more effective use of emerging technologies for client acquisition and retention.

If you look back in time, new businesses began their journey to transform the payment landscape and market about five or six years ago. Currently, numerous businesses are disrupting these markets with innovative new products and enhanced checkout experiences I/O and UX.


The majority of businesses are addressing issues related to demographics, such as online payment collection, in the government and education sectors. The majority of NBFC firms and small-town business owners have introduced their own wallet systems to compete with the large firms offering similar services, but small firms and business owners are more successful because they have close relationships with their clients and are better able to address their complaints.


I hope this was helpful. Please don't hesitate to contact me because you are assisting small and medium-sized business owners in launching their own payment gateway and wallet white label solutions, such as closed or semi-closed wallets.


Cheers,

Business@advayPay.com // Vivek@advayPay.com

8700277457

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