Gate2Play Releases New APIs for E-Commerce Sites
This week, Gate2Play has rolled out new support
for various e-commerce platforms, to help online merchants connect
to its list of regional payment gateways.
Specifically, the Jordan-based e-commerce service company has
released APIs for platforms built on Magento, Wordpress, WP
e-Commerce, Drupal, Joomla, OpenCart, and sites built in
programming languages PHP, JSP, .NET, ASP, Python.
Previously, Gate2Play had supported PHP, JSP, and .NET, while
offering to create custom solutions for clients. Now, any website
can freely connect directly to its comprehensive list of payment
gateways that includes prepaid options Cashi, Cashna, CashU,
Dixipay, Filspay, OneCard, and Ukash (sense a branding theme?) as
well as PayPal, Mastercard and Visa.
Gate2Play’s focus on APIs can’t help but be inspired by the success
of U.S.-based company Stripe, says CEO Muhannad Ebwini.
Stripe, most recently valued at around $500 million in the $20
million series B round it raised in July, enables “payments for
developers.” Like PayPal and Google Checkout, it handles aspects
like merchant accounts, integration with banks and payment
gateways, and credit card storage, making it simple for stores to
just embed their services and start selling.
It didn’t take long for the Samwer Brothers to know a good idea
when they saw one; Rocket Internet cloned Stripe last August and
just raised 10 million euros ($ 13 million) from Holtzbrinck
Ventures and Sunstone Capital last month.
Gate2Play is now focusing on building a similar platform for the
Middle East, where the payment gateway market is fragmented, with
each service covering a different set of countries.
Commission fees are typically much higher than Stripe’s 2.9% plus
$0.30 per transaction; our
list of payment gateways reveals commissions ranging from 2% to
10%.
In the final
segment of our Online Payment panel at CoE E-Commerce last
year, attendees took the payment gateways to task, asking if
gateways need to be as expensive as they are, generating heated
debate.
Right now, Gate2Play charges, on average, a 3-4% commission on
credit cards transactions for e-commerce companies, and a 4-5%
commission for companies selling virtual goods. Non credit card
transactions can be charged up to 8%. Ebwini hopes to eventually
lower commission costs across the board, however. One method would
be to guarantee gateways and banks a certain level of transaction
volume, which will become more and more feasible as the market
continues to grow.
“With the launch of new websites like Sallaty, Wysada, Desado, and
others, I see e-commerce continuing to boom,” says Ebwini.
Gate2Play, which has integrated with several young startups and
Oasis500 graduates, as well as Turkish powerhouse Peak Games and
“some of the world's biggest gaming platforms and social networks,”
has seen a 50% increase in the number of transactions completed on
its platform over the past two months.
By building its support for various e-commerce platforms, it's
hoping to continue the trend.