CSG Forte Honored as Top Platform for Payment Gateway Stability in TSG 2024 Real Transaction Metrics Awards
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Insights
CSG Forte's recognition by TSG for having the 'Lowest Minute Outage' in North America is a significant indicator of the company's reliability and efficiency in payment processing. This accolade can enhance CSG Forte's brand reputation, potentially increasing its market share in the digital payments sector. Payment gateways are a critical component of e-commerce and with the increasing volume of online transactions, a gateway's stability becomes a major factor for merchants when selecting a provider.
From a market perspective, this award could signal to potential and current clients that CSG Forte is a trustworthy partner, which may lead to increased customer retention and acquisition. Furthermore, as the digital payments industry is highly competitive, such recognition could provide a competitive edge over others in the market. It is essential to monitor if this award will translate into tangible business growth in subsequent financial quarters.
The award for 'Lowest Minute Outage' could be a precursor to financial growth for CSG Forte. As a key performance indicator, platform stability is directly correlated to user experience and can influence merchant and consumer confidence. This confidence, in turn, affects transaction volumes and revenue streams. Investors should look for any positive changes in CSG's financial metrics in the aftermath of this award, such as an increase in the number of merchants using their platform or an uptick in processed transaction volumes.
It's also noteworthy that operational excellence in payment gateways can lead to cost efficiencies. Fewer outages mean less downtime and potentially lower operational costs related to customer service and technical support. This operational leverage could improve profit margins and, ultimately, shareholder value.
While the award focuses on the operational aspect of CSG Forte's gateway, it's crucial to consider the cybersecurity implications. A stable and reliable payment gateway is less likely to suffer from breaches or downtime due to cyber-attacks, which can be costly in terms of both finances and customer trust. A platform that can demonstrate robust security measures alongside its operational stability is well-positioned to gain market confidence.
CSG Forte's commitment to reducing risk and fraud, as highlighted in their cloud-based payments platform, is a vital component of their offering. Investors should be aware that cybersecurity is a key differentiator in the payments industry and companies that can provide secure and stable platforms could see a long-term return on investment as digital transactions continue to grow.
Leads “Lowest Gateway Minute Outage” category based on credit card transaction performance
“When you serve as the payments infrastructure backbone for more than 114,000 merchants, platform stability and performance are mission critical,” said Sukanya Madhavan, chief product and technology officer, payments, CSG. “That’s why earning TSG’s award, which is based on real-world data and experiences, means so much. We are grateful to TSG for this award, which would not be possible without the dedication, creativity and rigor of the entire CSG payments team to deliver on and exceed our customers’ expectations.”
“In a competitive landscape where successful authorizations and fast transaction speeds are considered table stakes, maintaining high performance is critical,” said Mike Strawhecker, president, TSG. “We are excited to honor CSG Forte for its outstanding performance in 2023 and continued stability year after year.”
CSG delivers a single, end-to-end cloud-based payments platform that helps companies succeed with simple, seamless onboarding, best-in-class payment processing and industry-leading solutions that help optimize revenue by reducing risk and fraud. Learn more:
- Explore our eBook to learn how to offer a smooth and secure payment process that drives revenue.
- Read our blog on how to optimize the payment journey to enhance customer experiences and reduce late payments.
- Discover CSG Forte Engage, our multi-channel, low-to-no code payment solution that puts the power into the hands of the customer to pay when they want, how they want.
About CSG Forte
CSG Forte delivers digital payments solutions that help organizations scale faster and smarter. With CSG Forte, organizations process omnichannel payments across a best of breed, PCI-compliant digital platform that allows customers to make any payments, via any channel, at any time. Our award-winning technology empowers organizations to modernize how customers pay bills, increasing on-time payments and customer satisfaction while using a single low-code, unified digital platform. CSG Forte processes 168 million customer payments annually, totaling over
CSG empowers companies to build unforgettable experiences, making it easier for people and businesses to connect with, use and pay for the services they value most. Our customer experience, billing and payments solutions help companies of any size make money and make a difference. With our SaaS solutions, company leaders can take control of their future and tap into guidance along the way from our fiercely committed and forward-thinking CSGers around the world.
To learn more, visit www.csgi.com and www.forte.net and connect with us on LinkedIn and Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240221032594/en/
Julia Dakhlia
Public Relations
+1 (402) 431-7376
julia.dakhlia@csgi.com
John Rea
Investor Relations
+1 (210) 687-4409
john.rea@csgi.com
Source: CSG
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