We recently conducted independent and anonymous market research to
understand our clients and how best we can serve ecommerce merchants who
are using our online payment methods
. Here are some of
the responses and insights we gained into what our competitors and
clients think of us and are looking for in a payment gateway.
feedback from the expert and customer interviews confirmed the fact
that there is currently very limited differentiation in the market
place in terms of value added services, and that this is an area where
PayGate could differentiate their offering.
A payment gateway
competitor interviewed explained the current market place in the
following way: “It’s horribly commoditised; we all offer pretty much
the same products. The difference is in the value added services:
that’s where PayGate is offering a lot of value added services, whereas
we don’t. I think this is going to be a core trend – the difference
being in added value services, not in the core services."
current merchant customer also identified this as one of PayGate’s
greatest potential strengths: “It is a grudge layer between us and the
bank, so if there’s any value add there that would be desirable –
don’t want transactions to fail, get an error message back that is
fairly ugly and not very useful, want to feel like a useful interface
between us and bank not just a messenger relaying messages and not
“I think customers...
when they come into the game, have no clue how it all works but ...as
they learn about how ecommerce works, they will come to appreciate
“PayGate has been in the game so long,
will protect them . . because this game – it’s about money, and when
it comes to money you want someone you can trust, and trust usually
comes with those who have been in the industry. Trust is something you
earn and PayGate has that. You can’t really try differentiate on
product offering – we’ve all got the same widget.”
a consistent observation regarding PayGate that came through in the
expert interviews is that one thing that really sets PayGate apart from
their competitors is the excellent service that they provide to
Their strength is "their quick
personal service.... You get the sense that reliability and service is
important... rather than fancy features and hard core sales. another
merchant said their strength is "fast and efficient customer service.
Their response times are very good and fast. When we’ve experienced a
few bugs, and have fired off emails for them to check their systems,
their response time was very fast..."
interviewees (across the board) also mention that they appreciate the
personal contact or interaction . . this underscores the perception of
PayGate being a “service company”.
make a business – so PayGate is up there with best when it comes to
service. The customer feedback I’ve had has always been good: PayGate
know what they’re talking about, they come from heart, deal with their
business with passion, and can handle things under pressure."
So to sum it up, PayGate payment gateway
has built their business on trust, reliability and service, which sets
them apart from other service providers in the industry. PayGate make
online payments which is a "necessity" the most pleasant possible
experience for merchants, giving them a competitive edge with
continuous availability and diverse online payment methods.