At the beginning of 2022, we decided to explore the opportunity to consolidate our payment gateway providers down to one platform to for a few reasons:
1) One gateway we could fully support in house
2) Ensure all customers are using a leading technology provider in the payment gateway space
3) A more reliable platform than some of the alternatives customers were using.
After evaluating a range of suppliers, we ultimately decided on Stripe for the reasons above, as well as others such as the fact Stripe is a complete end-to-end offering (the gateway, processor & acquirer) – making it incredibly reliable. Additionally, independent research from the IDC backed our decision, with their research showing figures such as a 6.7 higher revenue on average for customers as well as 81% fewer unplanned outages on average versus competitors.