Benchmarking payment gateways from a merchant, developer, partner, and consumer perspective is now more important than ever as we live in a data-driven world. Gateways representing over 50% of all payment volume in the U.S. are utilizing TSG’s Gateway Enterprise Metrics (GEM) platform to achieve this. How do you stack up?
Week 2 of ‘Payments Analytics Month’ illustrates a selection of vital data-points from GEM. See below for details and follow TSG on Twitter throughout the month for more GEM stats.
Gateway Account Boarding
TSG acted as a merchant to measure the boarding process to provide an average score for the U.S. market (via its GEM-boarded gateways). On average, most gateways scored excellent in terms ease of integration and setting up a test merchant account. See more scores.
SMB eCommerce Growth Rates
The SMB eCommerce market is currently experiencing high growth and profitability. This is evidenced by the metrics shown comparing eCommerce only and non-eCommerce growth rates for U.S. card accepting merchants.
TSG went through an anonymous process of opening new merchant accounts to obtain the ability to accept cards online. See the average ‘ratings’ of 15 payment companies that were ‘mystery shopped’ across several categories.
Real Transaction Metrics
Transaction speed and success are important performance indicators for payment gateways. Using the success rates, the U.S. market had over $5.5 billion in credit/debit transactions fail in the past 12 months due to reasons not related to the card holder account (i.e. they were improperly declined).
TSG’s GEM platform monitors and pings gateways every minute from five different U.S. cities. Interestingly, Atlanta was home to the quickest and the slowest times.
GEM is the only tool in the market that benchmarks gateways from the merchant, developer, partner, and consumer perspective. GEM measures account boarding, API set and developer tools, mystery shopping, and real transaction metrics.