5 REASONS WHY EVERY DIGITAL GOODS COMPANY SHOULD BE USING MORE THAN ONE PAYMENT PROCESSOR Upclick Blog Priscilla Aug 26 2015 When it comes to payment processing, you can be in bed with more than just one. Monogamy is not required, and not recommended in this case.Spread your risk, diversify your portfolioYou’ve heard the expression before, putting all your eggs in the same basket is a huge risk. If your platform shuts down for whatever reason, you will lose a lot of sales that you won’t be able to recuperate. Sometimes the worse can happen and a day without payment processing can have serious consequences for your business. This kind of damage would also affect your credibility as a merchant. However, if you are using multiple payment processors, the chances that all servers stop working at the same time are ridiculously low, less than 0.1%. In that way, you are always sure to process sales at all times. In other words, having more than one payment processor gives you the peace of mind and ultimately let you focus on your business strategies.Make tests and performance reviews How could you know if you are maximizing your profits or losing sales if you don’t try and compare different payment processors? The only way to find out what works best is to try as many as possible. Otherwise, if you decide to switch to another payment processor without knowing how it performs, you might end up disappointed. And if you don’t try multiple ones, you lose the gains that you could be making with the most profitable payment processor. By trying out a few ones, not only are you able to see how they compare overall, you also get to see which of your products get consistent good sales and vice-versa on all platforms.Besides, it is a good way to keep them competitive.Each payment processor has different strengths and weaknesses Depending on the size of your company, you might discover that some products generate more sales while using one payment processor. Indeed, just like in any other business sector, each payment processor has its own strengths and weaknesses, and you can benefit by using more than just one processor for your different products. Even though most platforms offer similar services, you might find variations that make a difference for you as a merchant. It could be an easier user interface, a better support service, more payment methods accepted or whatever other attributes that matters for your sales. You can only find out by trying multiple payment processors. At Upclick for example, our level of customization is very advanced in comparison to what our competitors are able to offer. We have a WYSWYG editor and we are able to assist with special demands to make our merchant’s checkout pages unique and more profitable.You can learn about new techniques in the e-commerce industryBy using more than one payment processor, you become more aware and knowledgeable about the latest e-commerce trends and ways of processing. For example, Paypal is very big, popular and efficient, but it really lacks originality and it cannot cater personally to all of its merchants.Instead, Upclick's e-commerce platform allows you to customize your cart and the way you sell your products with cross-sells, up-sells, post-sells, etc...Our platform is always improving and optimizing the features to our merchants' requests. We want to offer as many useful features as possible.By being more aware of what is out there and by gaining real hands-on experience, you could find new ways to make money and use the new tendencies to your advantage.There is no downside in using multiple payment processorsUnlike getting married, using a payment processor is not a commitment, and neither will you get in trouble for having more than one partner. You can try as many different ones as you like, you risk nothing, and it won’t cost you more money either.All the big online digital goods are using more than one processor. We tried coming up with a disadvantage, but there really aren't any. You can always tell us if you find one.