Vladimir Kuiantsev
CEO of Akurateco
Cashier technology is gaining momentum right now. It helps merchants across numerous business industries strengthen brand reputation and expand their global presence. With cross-border sales and globalization of businesses, having just one payment method is no longer an option.
Rising customers’ expectations call for payment diversification. And that’s when Cashier comes in handy: it gives merchants access to multiple connectors to banks and payment methods from a single easy-to-use payment platform.
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And today, we’ll analyze the biggest Cashier technology providers. We’ll look into their benefits, a number of connectors, and disadvantages.
Cashier technology: the big, the strong, and the best of the industry. Source: shutterstock.com
Most popular Cashier technology providers
Praxis Cashier
A leader of the Cashier service providers industry, Praxis Cashier is here to link various merchants to international payment providers.
They identify their main goal as simplifying the process of managing multiple sites in numerous currencies, increasing the transaction approval ratio as well as preventing and fighting any fraudulent activities. It takes only one system to achieve all of these goals!
What it offers:
- 300 integrations with payment service providers;
- Smart routing;
- Customizable deposit limits and methods per country, currency, etc;
- Simplified deposit order option;
- Native design of the payment platform that won’t steal the focus of your product;
- A single virtual terminal that unifies all your credit card processors.
The system has been on the market long enough to become an (almost) absolute leader with dozens of giant corporations trusting their payment flow to them.
However, in this case, size matters. And often giants like Praxis Cashier are not as flexible as smaller vendors would hope. Besides, servicing big corporations for years shaped the internal processes and the product to the needs of bigger players often leaving the needs of smaller merchants not met.
Akurateco Cashier
Akurateco Cashier is a new player on the market. While Akurateco has been in the payment industry for 16+ years, Cashier is its brand-new product that doesn’t fail to impress. The system contains all the best practices of the niche giants and more.
Thus, Akurateco Cashier is the first provider to offer smart invoicing.
What it offers:
- 70+ connectors to banks and payment methods;
- +20% of transaction approval ratio thanks to cascading;
- Up to 30% increase in conversion ratio with smart routing;
- Cutting-edge decline reason management;
- Immediate switch between Live and Test modes;
- Real-time check of each payment by more than 100 fraud parameters
- A variety of integration types;
- SMS and DMS payment schemes support.
The system supports 150+ currencies and operates in more than 100 countries. It fits the needs of a wide range of businesses, both low and high-risk. Finally, it has a significant price advantage over the competitors with integration and other fees being lower than the market average.
But note that Akurateco Cashier is a new player. And even though it took into account the mistakes of the leaders and is way more flexible in terms of fees and tailored solutions, it’s a growing business. Thus, be ready that not all of the required payment connectors will already be there in place. And their integration might take some time.
Most popular Cashier technology providers. Source: shutterstock.com
BridgerPay
BridgerPay is another major player in the Cashier technology providers game. The system developed by the company allows its customers to customize their payment experience by selecting the preferred payment methods. All to meet the needs of international merchants across numerous locations.
Basically, the company offers five different services:
- Bridger Cashier to tailor the payment solution to the needs of any customer, even the most demanding one;
- Bridger Admin to manage the whole payment cycle from a single easy-to-use admin panel;
- Bridger Routing to distribute the transaction between different payment channels to increase transaction approval ratio;
- Bridger Button to transform any payment page into a simple deposit machine;
- Settlement Calendar to arrange and keep track of all your settlements from multiple sources in a consolidated system.
Beware that, as with all well-established Cashier platforms, this one has more solutions for bigger companies than for smaller or newly-started ventures. Moreover, don’t forget that more experience and deeper expertise in the field comes with higher rates.
Payneteasy
Another leading payment provider on the list, Payneteasy helps merchants from all over the world control all the payment activities in a single unified payment platform. They pride themselves on an increased transaction acceptance ratio, flexible payment strategy, and fast integration of new payment providers.
What it offers:
- 350 integrations with international and local payment service providers;
- E-commerce, mobile commerce, and a variety of alternative payment methods support;
- Opportunity to accept and process crypto transactions;
- Fast integration to new CRMs;
- Full compatibility with PCI DSS security standards;
- Wide range of currencies and recurring billing.
Again, the benefits are too many to count. Yet, they come with certain disadvantages. Just as its bigger rival mentioned above are not easy to maneuver, Payneteasy is tuned to the expectations of specific industries. Therefore, it can be difficult for the machine to change gear and adjust to the needs of a smaller merchant. And, once again, the rates are higher.
Conclusion
This is a list of the main Cashier service providers on the markets. There are more but these are the key ones. To make an informed decision of a suitable payment service provider, analyze what each one of these companies offers, and see how that aligns with your business strategy and current needs.
Smaller vendors have smaller fees and more flexibility while bigger ones have more experience and solutions but can cost an arm and a leg. Therefore, look around, compare, get a free Demo of the system before you get your feet wet.
Vladimir Kuiantsev is the CEO of Akurateco, a cutting-edge SaaS platform with 70+ connectors catering to international businesses. With 10+ years of experience in the payment industry, he’s successfully founded and grown two major payment startups before becoming an executive at Akurateco.
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