Who Needs Open Source Payment Gateways?

Written by

James Davis

Written by James Davis

Senior Technical Writer at United Thinkers

Author of the Paylosophy blog, a veteran writer, and a stock analyst with extensive knowledge and experience in the financial services industry that allows me to cover the latest payment industry news, developments, and insights. Read more

Reviewed by

Katherine Pensatori

Reviewed by Katherine Pensatori

Product Specialist at United Thinkers

Product specialist with more than 10 years of experience in the Payment Processing Industry. I help payment facilitators and PSPs solve their various payment processing issues. Read more

The concept of open source software development is rapidly gaining popularity, especially in such industries as restaurant business, fitness center, POS etc. In recent years more and more companies started considering the option of switching from their existing payment processing platforms to open source payment gateways. Traditionally, payment gateway software was a technical commodity, and the source code was something carefully protected by a company which developed the software and operated the payment gateway. Presently, we can see that some companies develop open source payment gateway software not to operate it themselves, but to license it to other businesses. The open source nature of a payment gateway software product of a new type allows all its users to add new plug-ins, serving their specific business needs. Under this arrangement, any open source payment gateway licensee gets the advantage of using all the new plug-ins, developed and added by other users.

Payment service providers, software companies, and legacy system users

The three types of companies, which are in position to benefit most significantly from open source payment platform usage are: payment service providers (or payment facilitators), software companies which need to support many payment gateways, and legacy system users. Switching from an existing payment processing solution to and open source payment gateway brings particular benefits to each company type. If your company belongs to one of the three listed types, an open source payment gateway might be the best solution for you.

Read more about open source payment gateways in the respective article on Paylosophy.com.