Key technology challenges for payment gateway development in 2020

Key technology challenges for payment gateway development in 2020

Payment gateway development is no easy task. As the payments industry continues to grow dynamically, companies need to think globally to reach the right consumers. Currently, there’s no clear global leader in the payment gateway market. However, big players such as Stripe, Alipay, and Apple Pay are vying for market share. Payment gateway development and necessary integrations with these services are essential challenges for CIOs in 2020. 

Payment gateway landscape and market expansion

Many payment gateways are capitalizing on a specific niche market or market segment by integrating with specific and popular fintech services

2020 has already begun with several high-profile mergers and acquisitions and these electronic payments trends will likely continue. Those may be related to providing new services into the offering, reaching new markets or simply filling in talent shortages. This is especially true when it comes to payment gateway programmers and engineers responsible for core system development.

Technology and product development as a key growth trigger

A key factor that can boost or block payment gateway companies’ growth is their ability to adapt and develop their system fast enough to meet growing client needs and follow planned geographical expansion. Taking a budget and getting the most out of it is a key consideration…

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