Payment Gateway Network & Networked Payment Gateway: The Power Of Having Both In Your Payment System

While the two terms may sound similar, “Payment Gateway Network” and “Networked Payment Gateway” are indeed different in the purpose of use and scope of application. Besides, both of the payment gateways do contain similarities that when combined, bring more comprehensive benefits to a business.

Now, before getting into the differences, let's first understand what the payment gateway network and networked payment gateway are.

Get To Know Payment Gateway Network & Networked Payment Gateway

What Is A Payment Gateway Network?

This term suggests a network consisting of payment gateways. It implies a network infrastructure or system where multiple payment gateways are connected or organized somehow. Here, the focus is particularly on the network aspect, indicating connectivity and possibly collaboration between different payment gateways.

The payment gateway network enhances flexibility and efficiency in payment processing helps minimize risks and enhances security for customers' payment information.

The payment gateway network helps minimize risks and enhances security for customers' payment information.

This type of network is designed to connect and manage various payment gateways, such as PayPal, Strips, Square, PayCEC, etc. in the process of online payment processing. It establishes a network infrastructure for different payment gateways to work together efficiently. This may include providing standard protocols for communication between payment gateways, as well as additional services such as risk management, transaction authentication, and data security.

This network allows merchants to accept payments from various sources, including credit cards, debit cards, and digital wallets, while managing all transactions through a centralized dashboard.

What Is A Networked Payment Gateway?

Different from a "Payment gateway network", "Networked payment gateway" specifically emphasizes a payment gateway being connected. It implies a payment gateway connected to a network, possibly involving integration with other systems or platforms. In this case, the emphasis is on the payment gateway being part of a larger network environment.

A networked payment gateway is a specific payment gateway integrated into a larger network or system. This may involve integrating the payment gateway into e-commerce platforms, electronic payment systems, or customer relationship management (CRM) systems. It benefits both businesses and customers by providing a smooth and secure online payment experience while optimizing data management and business processes.

By connecting the payment gateway to a network, businesses can leverage the extended features and services of that network, including managing customer information, analyzing data, and optimizing business processes.

The differences between the two terms lie not only in their emphasis and arrangement of words but also in the purpose of use and the areas they perform within. While a "Payment gateway network" focuses on the network comprising payment gateways, a "Networked payment gateway" prefers a payment gateway that is connected to a broader network system.

To this point, those who are interested in these two types of payment gateway may have their curiosity about which particular types of businesses would need one of them the most. Particularly, readers may wonder whether their businesses can take advantage of them for their operation and financial strategies. Therefore, the below information is given to clarify those questions.

"Networked payment gateway" specifically emphasizes a payment gateway being connected.

Payment Gateway Network & Networked Payment Gateway: Which One Is More Ideal For Your Business?

Here are some points to clarify the target audience that these types of payment gateway networks can cater to, as well as the differences between them:

Payment Gateway Network

Businesses operating in e-commerce, online retail, online services, and other industries where multiple payment gateways need to be integrated to accept payments from various methods (e.g., credit cards, debit cards, bank transfers, e-wallets, etc.).

1. E-commerce Businesses: Online retailers and businesses operating in the e-commerce sector often require Payment Gateway Networks to facilitate secure and efficient online payments from customers worldwide.

2. Payment Service Providers (PSPs): PSPs and payment aggregators utilize Payment Gateway Networks to offer comprehensive payment processing solutions to merchants, integrating multiple payment gateways into their platforms.

3. Financial Institutions: Banks, financial institutions, and payment processors leverage Payment Gateway Networks to expand their payment offerings, enhance connectivity with merchants, and provide value-added services to customers.

4. Large Enterprises and Platforms: Enterprises with complex payment ecosystems, as well as platform-based businesses (such as marketplaces, booking platforms, and subscription services), utilize Payment Gateway Networks to manage diverse payment methods and streamline payment operations.

Differences

The payment gateway network focuses on connecting and managing different payment gateways within a network system. It helps enhance flexibility and efficiency in payment processing while minimizing risks and enhancing payment information security.

Networked Payment Gateway

Businesses operating in industries with extensive networks or network platforms, such as customer relationship management (CRM) systems, e-commerce platforms, and electronic payment systems.

1. Businesses Using Integrated Systems: Businesses using customer relationship management (CRM) systems, electronic payment systems, or e-commerce platforms may need to integrate a payment gateway into their systems.

2. Businesses Wanting to Utilize Extended Services: Businesses want to leverage the extended features and services of a network, including managing customer data, analyzing data, and optimizing business processes.

3. Subscription Services and Membership Platforms: Subscription-based businesses, membership platforms, and recurring billing services can utilize Networked Payment Gateways to manage subscription payments, automate recurring billing cycles, and handle customer billing preferences.

Differences

The networked payment gateway is a specific payment gateway integrated into a larger network or system. It helps optimize data management and business processes by connecting to other platforms and systems.

In general, although both types of payment gateways provide online payment processing services, they have different objectives and scopes of application. The payment gateway network focuses on connecting and managing payment gateways, while the networked payment gateway aims to integrate into larger systems to optimize data management and business processes.

Based on what is mentioned above, payment gateway networks and networked payment gateway have different target audiences, purpose of use, and scope of application. However, they can be utilized simultaneously by businesses if collaborating the two of them in their strategy can bring in better financial performance.

Enhance Your Payment Gateway System and Customer Services By Combining Them Both

The two terms, "Payment Gateway Network" and "Networked Payment Gateway," cater to different user groups and have different scopes of application, but they can be used simultaneously by businesses according to their specific needs.

In terms of the scope of application, while a payment gateway network focuses on a smaller scale within a payment system by processing online payments, transaction management, payment security, risk management, etc, a networked payment gateway is mainly about integrating payment gateways into a network system to manage customer information, analyze transaction data, and provide payment services to network partners or members.

The two terms can be utilized simultaneously to bring in better financial performance and enhance customer satisfaction.

Mentioning increasing customer experience, integrating a multicurrency payment gateway is another important thing since business owners nowadays tend to set up their online store as a multicurrency merchant. The reason is simple, different from brick-and-mortar stores, online stores have much lower set-up costs. And business owners tend to use that budget to go for whatever they want for their e-commerce stores. and one of the first things would be being cross-border merchants with multicurrency payment gateways.

Additionally, although these two types of payment gateways have different objectives and scopes of application, they can be used simultaneously by businesses to meet complex payment and customer management needs.

For example, an e-commerce business may use a payment gateway network to process payment transactions from customers while integrating their payment gateway into a CRM system to manage customer information and analyze data. This helps optimize business processes and provide a better payment experience for customers.

Besides "Payment Gateway Network" and "Networked Payment Gateway" which are classified based on the underlying structure and functionality within the broader payment processing system, there are also 4 types of payment gateway classified based on their integration methods and the location where payment data is entered and processed. Business owners can also take those 4 types as a reference to choose for their business the most suitable payment system.

Conclusion

"Payment Gateway Network" and "Networked Payment Gateway", both have distinct purposes and different applications. Recognizing the similarities between these two terms presents an opportunity for businesses to enhance their payment infrastructure, and deliver a seamless payment experience to customers. Moreover, with this understanding, businesses can also unlock a more comprehensive set of benefits, including improving efficiency, enhancing connectivity, and having greater flexibility in managing payment transactions.

With all of the above conveniences, joining the payment gateway network is considered an ideal choice for business owners who wish to bring their customer services to a whole new level. And for those who want to join the payment gateway network of the pioneering international payment service provider - PayCEC, you can go to the following link of PayCEC payment gateway login to experience for yourself.

About PayCEC

PayCEC was established in response to the growing need of businesses to accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.

PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their business accounts in various currencies.

We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.

PayCEC Team

• [email protected]
• +44 2032 864370
• www.paycec.com