What is The Gateway Paradox?
Online payments are a necessity now for almost every business. Even service-focused businesses want to take online payments because customers expect it. Whether it’s portals, payment buttons or invoices, people are looking for that ease of payment.
Because of that, you have to have a service provider to facilitate online payments. Your payment gateway provider will give you a summarized total when they transfer funds to your account. But what you don’t get from that total is a list of specific transactions and details on fulfillment. So, you still have to walk through the whole process and enter that information manually.
That’s where the gateway paradox comes from. You have to have a payment gateway provider to enable purchases from customers, but reconciling every single transaction individually is a back-breaking process. It gets in the way of shipping orders, getting more customers and orders, and growing your business.
