Plug is an API to manage multiple payments providers. Through a single integration, businesses can connect to multiple providers and route transactions between them.
It’s hard to know who the right payments provider for your business is. In the early stage you may care most about a fast integration, later you're looking for lower fees and more payment methods, and finally for better acceptance rates and fail-over options. We built Plug so companies could focus on their core business. With our multiple connections, provider-agnostic vault, and routing engine, our users always work with the best provider, on a transaction-by-transaction basis. Working with multiple providers means you can optimize costs and acceptance rates through routing and retries, and that you will be able to avoid lock-ins.
Brazilian merchants in particular change their payment provider frequently. They do this to support multiple local payment methods, to try and improve the worst acceptance rate in Latin America (77% according to Visa), and to reduce their costs, which in some cases can be 10% or more of the transaction.
Alex was at Braintree, Marcel was at Gympass, and Thiago was at Medicinae. We got the idea from seeing our best clients, companies like Uber, AirBnb, and iFood, build their own payment abstraction layers to work with different providers. We've built software that allows any business to do the same: one integration for multiple connections, and the ability to always transact with the best provider without having to write extra code.
Rei do Pitaco has been using Plug to reduce their costs and support multiple payment methods through different providers. CartX has been using Plug to offer multiple providers to their client base without having to integrate each provider. Simplix uses our product to optimize costs by routing to the least expensive provider for each transaction. We're looking forward to hearing your comments!