The Strawhecker Group (TSG) is pleased to recognize a selection of payments companies for their exceptional start-up, small and medium-sized (SMB) eCommerce merchant experience.
Powered by TSG’s Gateway Enterprise Metrics (GEM) platform*, GEM completes an anonymous process of opening new merchant accounts to obtain the ability to accept cards online. This process is used to measure and rate the varying degrees of difficulty that startup, SMBs face.
“TSG takes on the persona of a real startup eCommerce merchant in order to test and log this process from ‘cradle to grave’,” says Mike Strawhecker, Partner at TSG. “This helps our clients understand pain points that their prospective merchants may be facing, as well as how they fare against other leading providers.”
See below for the winners, as well as runners-ups in each category. Overall, this assessment is completed annually for more than a dozen industry providers and rated across several different categories from website building to application and underwriting.
The eCommerce Merchant Experience Awards
Ease to Launch - Square The Ease to Launch award reflects the easiest overall gateway to utilize for a start-up eCommerce SMB, from building its website to accepting online payments.
Square is receiving this award due to its complete performance across building a website with a shopping cart, completing a merchant application with underwriting, and estimated annual cost.
Best Sales Process – Shopify The Best Sales Process award encompasses the time, effort, and complexity of the merchant application and underwriting process.
Shopify is receiving this award due to their streamlined online application process and quick underwriting.
Runner-Ups: Square / WePay
Lowest Cost – WePay The Lowest Cost award estimates a merchants’ annual costs of building/maintaining a website, gateway fees, cost to process transactions, and anything else incurred during setup.
WePay is receiving this award for their lack of merchant costs related to managing a website or gateway access, as well as competitive processing rates.
Runner-Ups: BluePay / Square
*GEM is the only tool in the market that benchmarks from the merchant, developer and gateway performance perspective. Current subscribers account for an estimated 66% of all payment gateway volume in the U.S. Learn more about GEM.
Companies and/or products considered for any TSG awards may or may not include clients of TSG and does not necessarily represent all companies or products in the market. This analysis is based upon information we consider reliable, but its accuracy and completeness cannot be guaranteed. Information provided is not all inclusive. All information listed is as available from 8/15/19 – 9/15/19. The Strawhecker Group (TSG) is not and/or may not be endorsed, sponsored by, or in any other way affiliated with the any companies or their logos illustrated in this presentation. The trademarks shown are registered and their own. This document has not been prepared by any entity displayed.
About TSG The Strawhecker Group (TSG) is a fast-growing analytics and consulting firm focused on the electronic payments industry. The company serves the entire payments ecosystem, from fintech startups to Fortune 500 companies. The firm provides its clients with advisory services, research and analytics to help them plan and execute their strategic initiatives. Based in Omaha, a recognized payments industry hub, TSG is an established leader in this high-growth, ever-evolving space. For more information please visit www.TheStrawGroup.com .
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Source: Company press release.