Top Seven E-commerce Payment Gateways
Do you have plans to set up an online business? Then, you have some decisions to make ranging from; hosting, domains, content management systems and shopping carts. All these you have to think about thoroughly and put them in place.
Now the million-dollar question is how do you get paid for the services via your blog or website offers? For your business to run at the full piston, it needs money coming in safely and possibly without hitches. How do you do achieve that? Well, you’ll need to choose and install a reliable payment gateway. The first thought is always to offer your customers a large number of widespread payment channels. But this is where the difficulties begin: often APIs change, functions are not properly supported or cooperation with payment service providers requires corresponding contracts.
In principle while it makes sense to offer as many payment options as possible, it is not always practical. It also depends on the target group (younger vs. older, more or less technically affine) which payment methods are particularly in demand.
1. PayPal
This is one of the most popular and most used E-commerce Payment Gateway. It is a safe payment gateway used by a great number of people around the globe. This is purely because it is trusted and highly accepted as a safe means of payment by many users. PayPal actually protects the customers more than the vendors.
Setting up a PayPal Payments Standard account is quite an easy one to handle, you only need to add the PayPal button on your blog or website. Automatically, PayPal sets itself up and this includes authorization and security. Are you amazed to learn that there are no monthly fees?
Yes, there are no monthly fees.
Features:
- Easy self-set-up
- No termination fees
- Accepts over 20 currencies.
- All transaction are detailed
- Accept credit cards on your website
2. Stripe
Stripe is also one the most popular online payment gateways. Its features help to keep the buyer on your site and will encourage subsequent visits because of its easy and interactive mode of payment. You certainly will require web development skills to implement. If this seems to be a problem for you then you will have to get a professional web development agency to help you out with this.
The major idea behind Stripe is that it does virtually everything for you and this entails collection of payments from your clients and promptly sends the required information directly to your financial institution. It is just your transactions fees which are currently the same as PayPal. However, Stripe is only available to dealers in the US, Canada, Australia, UK, and many European countries.
3. CheckOut
If your desire is to make or receive instant payment, CheckOut is exactly what you need. Most of the top sites depend so much on CheckOut for a safe and instant payment procedure. Checkout is predominant in the US. It gives dealers the possibility to have agreed on terms before payment is made.
It is also user-friendly and designed to interact with users in different currencies and languages. So, this means language may be a barrier if you decide to use CheckOut as your means of e-commerce payment gateways.
4. Authorize.net
Authorize.net does charge an initial setup and an on-going monthly fee is quite unlike Stripe and PayPal. Now you might wonder is this payment procedure actually a good choice?
The difference, in this case, is that Authorize.net is designed to accept ALL major credit cards as well as other digital payment solutions like Apple Pay and PayPal.
Autorize.net pushes the limits a bit further by including in your fees an Advanced Fraud Detection Suite. This alone is a huge plus. This means fraudulent acts stands little or no chance here. The downside is that Authorize.net is available only to merchants in the United States, United Kingdom, Canada, Europe or Australia.
Some features include:
- All transactions are handled on-site
- Excellent security
- Accept payments from around the world
- Accepts major credit cards
- Money received is transferred to your bank directly
5. Orange pay
Orange pay is designed to assist you with difficult tasks, reduce risk and has the ability to dictate fake transactions. Sounds interesting already right? Orange pay has a very brilliant feature like SSL-encryption and 3D security.
The idea behind this feature is to secure your private information. Orange pay provides comfort for its users because it is convenient and provides a vast choice of payment channels. Like VISA, Bitcoin, MasterCard, Qiwi, PayPal and quite suitable for Forex marketing.
6. Amazon payment
Amazon is no doubt one of the most trusted e-commerce payment gateways on the web today. This platform gives you assess to all the benefits of Amazon while you interact with customers on your site. Just like PayPal, you definitely do not have to pay monthly fees.
Amazon Payments emphases more on giving its customers. They had it so easy to work with by provides standardized payment buttons that you can add convenience to your website.
7. Google wallet
To pay for purchases in online stores through Google Wallet, the buyer must first open a Google Account. The Google Account not only allows you to use the online payment system. a buyer can even make purchases in the Play Store on Google or on the social network Google +.
To open your Google Wallet account, you’ll also need to provide a credit card or debit card to use for your purchases. However, it can not be a virtual credit card. Soon it will also be possible to specify a bank account, via which the invoice amounts are collected by direct debit.
Once a purchase is made with an online merchant that accepts Google Wallet as a payment method, Google Wallet must be selected during the payment process. The amount invoiced will be charged to the account holder’s credit card or debit card or the balance on the Google Wallet account will be reduced accordingly.
Conclusion
Are you trying to make up your mind on which of the e-commerce payment gateway to settle for? The truth is that you really don’t have to restrict yourself to just particular service. You can actually spread your options. On the other hand, it gives you a wider chance to attend to a larger number of customers without being restricted by a customer’s preferable mode of payment.