What’s the measure of a well-performing payment gateway? Time. Or, rather a lack of time.
Gateways, which route online transactions to one of multiple payment processors, are judged on their speediness and reliability. That’s why The Strawhecker Group, an Omaha, Neb.-based payments consultancy, started its Gateway Enterprise Metrics platform. The service monitors the performance of participating gateways in real time.
In May, the average transaction time was 3.2 seconds for the seven gateways in the evaluation. The slowest transaction time was 3.6 seconds, and the quickest was 2.8 seconds.