The Problem We Were Actually Solving
Our problem went beyond just finding a payment gateway that worked in multiple countries. We actually needed a solution that could handle the nuances of payment restrictions imposed by local banks and regulatory bodies. Our primary goal was to ensure seamless payment processing regardless of the buyer's location.
What We Tried First (And Why It Failed)
Initially, we tried using Stripe's payment restrictions feature to whitelist specific countries where payments could be processed. However, this approach had several drawbacks. Firstly, we had to manually maintain a list of whitelisted countries, which was prone to errors and maintenance issues. Secondly, it didn't solve the underlying problem of payment restrictions imposed by our local bank. We soon realized that this approach was not scalable and required constant updates and maintenance to keep up with changing regulatory requirements.
The Architecture Decision
After much research and evaluation, we decided to implement a secondary payment gateway, Mollie, which allowed us to accept payments from customers worldwide without relying on Stripe. However, this came with its own set of challenges. Mollie used a different payment model, which meant we had to handle additional complexity in our integration. Additionally, we had to maintain two separate payment systems, which increased our operational overhead.
What The Numbers Said After
We saw a significant increase in sales revenue after implementing Mollie as a secondary payment gateway. Our average order value (AOV) increased by 15% due to the fact that customers were no longer blocked by payment restrictions. Moreover, our customer acquisition costs (CAC) decreased by 20% as we were able to reach a wider audience. Metrics like these convinced us that our decision had paid off.
What I Would Do Differently
In hindsight, I would have explored a more comprehensive solution to handle payment restrictions before opting for a secondary payment gateway. Our solution, although effective, was not foolproof. We encountered occasional issues with Mollie's payment processing, which resulted in frustrated customers. A more robust approach would have been to integrate a payment orchestration platform, like OmiseGO, to handle the complexities of payment restrictions and regulations across multiple countries. This would have provided a more scalable and maintainable solution, as well as improved our customer experience.
We removed the payment processor from our critical path. This is the tool that made it possible: https://payhip.com/ref/dev1
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