Choosing the right payment gateway is crucial for an organisation. Not only does it reduce chargebacks and declines, but it also impacts the customer experience, operational efficiency and overall business success. To alleviate some of the pressure on making the right choice, the fintech project CONCRYT has published a new guide for merchants on selecting the perfect partner.
The CONCRYT guide, Payments Gateways: Combatting False Declines and Improving Authorisations explores how financial transactions are becoming increasingly borderless as digital landscapes evolve and consumers’ demands grow. Payment gateways have become more than just transaction processors – they are now complex and multifaceted platforms that underpin global commerce.
According to a recent study, 11 per cent of transactions processed by the average e-commerce firm failed in the past year. However, few merchants have a clear understanding of the underlying causes. More than 80 per cent cite difficulty in pinpointing the causes of failed payments as a major challenge. Furthermore, nearly 64 per cent rank it as their top challenge.
Payments fail for a variety of reasons, ranging from incorrect card information to suspicion of fraud. These declines can be helpful in filtering out fraudulent transactions. On the flip side though, they can also have several significant impacts on a merchant’s business, both in the short and long term.
Aside from the immediate loss of revenue, card declines can lead to a poor experience, especially if the issue is frequent. Customers may feel embarrassed in-person or lose trust in an online system, resulting in them abandoning the merchant for a competitor. By addressing card declines, merchants can reduce revenue loss, enhance customer satisfaction, and maintain a competitive edge in the market.
Empowering businesses


Commenting on the launch of the whitepaper, Ryta Zasiekina, founder of CONCRYT said: “The aim of the whitepaper is to provide a comprehensive overview of payment gateways, highlighting their critical role in modern business operations, the technological advancements shaping the future of payments, and the key considerations for businesses choosing a gateway provider.
“It is my hope that it empowers businesses with the insights they need to make informed decisions about their payment infrastructure, and help ensure they remain agile and competitive in this fast-paced digital economy.
“Of course, in an ideal world, all merchants would enjoy a perfect approval ratio. Unfortunately, the dream of zero declines is an almost impossible one, especially if you process a substantial number of payments. But by deploying the strategies outlined in our white paper, merchants can improve approval ratio, and be more aware of spikes in network declines that may require action.”