High volume merchants or merchants in high risk industries find it important to minimize risk by establishing multiple merchant accounts and boost their business growth. The potential problem with this approach is that if each account has a separate payment gateway account management and reconciliation can turn into an administrative nightmare.

The smart way to handle multiple merchant accounts is to use a single payment processing gateway. Transaction processing load balancing for all accounts can be easily controlled from a payment gateway control panel. Merchants can manage multiple accounts from a single payment gateway control panel.

This gives merchants the freedom to dynamically configure payment gateway routing parameters as per their own requirements. There are certain types of transactions that can be automatically sent to one acquirer rather than another depending on merchant’s choice. If a merchant has processing limits at one acquirer, the payment gateway can be set to automatically send transactions above that amount to other acquirers. Load balancing of multiple accounts via a payment gateway is as easy as setting your automobile on cruise control.

Benefits of Load balancing on a payment gateway:
  • Eliminates repetitive administrative tasks and increases productivity
  • Simplifies reconciliation, streamlines operations and reduces costs
  • Consolidates
    reporting data that leads to fast and efficient decision making
  • Increases flexibility to respond quickly to changing market conditions
  • Helps control chargeback ratios for the merchants
What Else to Look for on a Payment Gateway

Since many companies have merchant accounts located all over the world, make it sure that you choose a payment gateway that accommodates international as well as domestic merchant accounts. Regardless of the jurisdiction of the merchant account, all transactions still flow through a single payment gateway.

Be sure that you have integrated Quickbooks or other business systems with the payment gateway. This helps in streamlining accounting functions and importing and exporting transaction data from the payment gateway to internal systems.

Businesses should also be sure that their payment gateway allows multiple levels of authentication and also provides permission access control. This helps to safeguard a business against insider fraud as merchants can decide what information each level can view.

Of course, be sure that your payment gateway includes rich reporting that will enable you to track all transactions. Full audit trails should also be a part of the payment gateway to ensure the integrity of processing.

Finally, be sure the payment gateway includes powerful weapons to fight fraud. For example, merchant controlled security parameters determine if a transaction is accepted or rejected and strategic management tools help high risk merchants save legitimate transactions.