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In the growing world of cashless transactions, it’s very important to have a payment gateway for your business that is reliable and secure. There are numerous payment gateways for ecommerce out there and finding the right one can be a task. That’s why we have prepared this article to help your business get the best payment gateway for seamless transactions.
PayPal | Top in Payment Gateways for Ecommerce
PayPal tops our list with its famed reputation for trustworthiness and reliability. This payment gateway is an ideal one for e-commerce with its ubiquitous presence and acceptability. It started out in 1998 and soon grew to be one of the most crucial financial tools for businesses. With its integration, it becomes highly efficient in making and receiving online payments for ecommerce merchants. This versatile payment gateway supports credit and debit cards, bank transfers, and PayPal account balances.
Key Features:
- Extensive global reach.
- Supports a wide range of currencies.
- Easy integration with e-commerce platforms.
- Offers buyer and seller protection.
Specifications:
- Currencies: Supports over 25 currencies.
- Payment Methods: Credit/debit cards, bank transfers, PayPal balance.
- Security: Fraud protection, encryption, and secure storage of payment information.
Platform Fee/Commission:
- Transaction fee: 2.9% + $0.30 per transaction (may vary by country).
Stripe
If you’re looking for developer-centric payment gateways for ecommerce, Stripe may be the answer to your prayers. Stripe began in 2010 and has since made remarkable progress in serving ecommerce merchants with its developer-friendly gateway. With its potent API option, this leading payments gateway offers many customizable options to tweak it as per your business’s transaction needs. Moreover, the fact that it supports every payment method, including credit and debit cards, ACH transfers, and many other digital wallets makes it such an appealing option. Furthermore, if you’re someone who wants to manage their finances more effectively, make the most of Stripe’s advanced analytics and reporting capabilities.
Key Features:
- Easy API integration.
- Supports recurring billing and subscriptions.
- Multi-currency support.
- Advanced reporting and analytics.
Specifications:
- Currencies: Supports over 135 currencies.
- Payment Methods: Credit/debit cards, ACH transfers, digital wallets.
- Security: PCI DSS compliance, encryption, fraud prevention tools.
Platform Fee/Commission:
- Transaction fee: 2.9% + $0.30 per transaction (may vary by country).
Square | Payment Gateways for Ecommerce
Square being founded in 2009 is a fencing solution for payment processing as a payment gateway together with POS. Many businesses, especially small and medium-sized, use it because of its simplicity and clear pricing policy. Realizing customers’ needs for both physical and non-physical terminals, Square is both the terminal hardware and the software, which could be suitable for both physical and online stores. Apart from payment acceptance, Square offers a collection of business services that include invoicing, stock tracking, and wage processing. That way, it is fitting for different sorts of business models, which makes it conceivable to make both face-to-face and online transactions.
Key Features:
- Easy setup and integration.
- Transparent pricing with no hidden fees.
- Supports in-person and online payments.
- Provides business management tools like invoicing and inventory management.
Specifications:
- Currencies: Supports multiple currencies, primarily USD.
- Payment Methods: Credit/debit cards, digital wallets.
- Security: PCI compliance, fraud detection, encryption.
Platform Fee/Commission:
- Transaction fee: 2.6% + $0.10 per transaction for in-person payments, 2.9% + $0.30 for online payments.
Authorize.Net
Authorize.Net is one of the oldest and, in fact, one of the most trusted payment gateways for ecommerce currently in existence having been formed in 1996. It’s famous for its stability and a wide range of functions which is why it could be considered essential for small and middle-sized companies. It accepts various methods of payments and it has embraced credit and debit card payments, e-checks, and other electronic wallets. It also has an extensive fraud detection suite which makes it highly secure for the completion of transactions and it is PCI compliant. Additionally, Authorize.Net provides auto-recurring payment solutions and also has report and analytical services that assist companies in their payment transactions and customers’ information.
Key Features:
- Wide range of payment options.
- Advanced fraud detection tools.
- Recurring billing support.
- Detailed reporting and analytics.
Specifications:
- Currencies: Supports multiple currencies.
- Payment Methods: Credit/debit cards, e-checks, digital wallets.
- Security: PCI compliance, fraud detection suite.
Platform Fee/Commission:
- Monthly fee: $25.
- Transaction fee: 2.9% + $0.30 per transaction.
2Checkout (now Verifone)
2Checkout is an international payment service provider that became a part of Verifone in 2017, the main goal of which is to facilitate sales. It provides an extension that allows for payment processing, subscription billing, and detailed reports. 2Checkout assists with a broad list of payment options. The global option is popularly embraced globally ensuring an organized method for companies that are targeting an international market. Its OpenCart platform is quite flexible to integrate with existing e-commerce solutions, while its high level of security prevents fraud reliably. The gateway also provides localized payment methods for the convenience of the client no matter the area they are in.
Key Features:
- Supports multiple languages and currencies.
- Recurring billing and subscription management.
- Detailed analytics and reporting.
- Advanced fraud protection.
Specifications:
- Currencies: Supports over 87 currencies.
- Payment Methods: Credit/debit cards, PayPal, local payment methods.
- Security: PCI compliance, fraud prevention tools.
Platform Fee/Commission:
- Transaction fee: 3.5% + $0.35 per transaction.
Amazon Pay
Amazon Pay on the other hand is an established payment gateway that has the trust aspect being an added advantage since it is derived from Amazon. It enhances the payment process that both the merchants accept and the customers make without compromising on the security aspect. Amazon Pay is an online payment method that lets customers pay with their Amazon account information on other websites that offer this kind of service.
It is aimed at improving the checkout process and thus the conversion rates on other websites. Thus, this gateway is most suitable for business players who wish to deliver a seamless and secure payment process to their consumers. Also, Amazon Pay uses mobile payments and has increased levels of security against fraud due to its associations with the larger Amazon company.
Key Features:
- Seamless checkout experience.
- Supports mobile payments.
- Easy integration with e-commerce platforms.
- Leverages Amazon’s fraud protection and security.
Specifications:
- Currencies: Supports multiple currencies.
- Payment Methods: Credit/debit cards, Amazon account balance.
- Security: Amazon’s advanced fraud protection, encryption.
Platform Fee/Commission:
- Transaction fee: 2.9% + $0.30 per transaction (may vary by country).
Braintree | Payment Gateways for Ecommerce
Braintree is a PayPal division and it provides a powerful and customizable payment gateway solution for any type of company. Thus, utilizing Braintree is possible to accept credit and debit cards, PayPal, Venmo, digital wallets, and many others, which indicates its high flexibility. It has a friendly API is can be integrated into both web-based and mobile-based applications.
It also has a feature known as recurring billing that is appropriate for subscription-primarily based businesses. As it operates with the help of advanced fraud detection and PCI compliance, clients can be sure that their payment transactions are safe and seamless with the help of Braintree. This flexibility of handling more than 130 currencies makes it appropriate for global companies.
Key Features:
- Supports various payment methods, including Venmo.
- Easy integration with mobile and web applications.
- Recurring billing support.
- Advanced fraud detection tools.
Specifications:
- Currencies: Supports over 130 currencies.
- Payment Methods: Credit/debit cards, PayPal, Venmo, digital wallets.
- Security: PCI compliance, fraud prevention, encryption.
Platform Fee/Commission:
- Transaction fee: 2.9% + $0.30 per transaction (may vary by country).
The Bottom Line: Verdict
From the sea of payment gateways for ecommerce out there, selecting the ideal one is essential for every successful business that operates in the e-commerce industry. PayPal, Stripe, Square, Authorise. Networking, 2Checkout now Verifone, Amazon Pay, and Braintree all have their features and advantages depending on the business kind. PayPal and Stripe are the most suitable for international use and adaptability to developers’ customization, respectively.
Square is suitable for companies that require POS solutions that are interrelated, while Authorize.Net provides good security and reliability. 2Checkout is suitable for international sales, Amazon Pay benefits from the recognition of the brand, and Braintree has convenient payment solutions. When selecting any particular gateway it is important to compare and contrast the different features of the gateway, fees for implementation and integration of the gateway in the business model of the enterprise.
