Research shows that about 50% people will not go through with the purchase if the mode of payment which they preferred was not available. Despite the flawless functioning or attractive outlook of the website or exciting offers that you are offering on products a payment gateway is the ultimate decision maker of whether or not you are going to make a sale or not. A reliable payment gateway helps in bringing back your customers to your store.
A payment gateway is a service which automates the payment transaction between the trader and the shopper. It is a third-party service which is a system of computer processes which process, authenticate and accept/decline transactions made through credit cards for the trader through protected internet connection. It is basically a set-up that lets you accept all types of electronic payment.
Here is a list of payment gateways for you to consider for your eCommerce website:
- Authorize.Net:
This payment gateway has been processing payments since 1996. The payment gateway service offers a complex infrastructure and security to make sure that the transaction data is transmitted safely in no time. They also help traders to manage their business and keep safe from all types of fraud. The Net Verified Merchant Seal which they offer can be added to the retailer’s website to win the confidence of the customers. The retailers can manage their transactions by logging on to a secure website known as Merchant Interface where they can generate reports, configure settings, view statements etc. Some of the platforms that support Authorize.Net are Shopify, WordPress, BigCommerce etc.
Pricing Plans:
- Set fee is $49
- Transaction fee is 2.9% + $0.30
- Monthly gateway fee is $25
- Stripe:
There are 25 countries in which Stripe has its business. Stripe lets both businesses and individuals benefit from its internet payment services. Web developers can easily integrate this payment gateway into their websites without registering or having a merchant account. They take a seven day waiting period before one can actually start using their business. During this seven days they cross check the business in order to prevent any sort of fraud from happening. The best thing about stripe is that it doesn’t charge any monthly or set up fee. Transaction fee is only what they take and rest there are no hidden costs. Stripe can easily work on platforms like Spree Commerce, BigCommerce, WooCommerce, Magento, Shopify and more.
Pricing Plans:
- No Set up fee
- Transaction fee is 2.9% + $0.30
- No monthly fee
- PayPal:
PayPal operates worldwide online payments system which deals in online money transfers while also aiding as an alternate to traditional paper methods such as money order or cheque. The company is working in 202 markets and there are more than 197 million active accounts registered with them. They hold, send and receive in 25 different currencies across the world. Financial transactions are made by electronic transfer of funds between businesses and individuals. This is one of the best options for those who are not comfortable in sharing their credit card details. There is no platform integration required as one is redirected to PayPal’s site. PayPal Express skips this redirect and the required information is given by Express API. If you are making a sale of more than US/$3,000 then you are applicable for a discounted merchant rate for the transaction fee.
Pricing Plans:
- No set up fee or cancellation charges
- Web Payments and Invoices – Transaction fee changes with the volume of sales made
- eBay Payments – Transaction fee changes with the volume of sales made
- No monthly fee
- Worldpay:
While being headquartered in UK they are working in markets all over the world. They are also a member of the FTSE 100 index in London Stock Exchange. They have a line of products such as card machines, online payments, mail and telephone payments etc. Worldpay can be integrated with platforms of Shopify, BigCommerce, WooCommerce, Shopify, Spree Commerce and Magento. They have a contract system and on cancelling you may have to pay a fine.
Pricing Plans: They have a range of products and they offer flexible pricing plans for a detailed look at what they offer you can visit their website.
- Amazon Pay:
The Amazon Pay online payment processing is owned by Amazon.com Inc. For now they are working in eight countries which include Germany, Italy, France and Unite States. The company gives you option to buy services and goods from both mobile apps and websites which use the addresses and payment methods which are saved in Amazon account like debit accounts and credit cards. There is an option of Amazon Pay Express which also has been built on Amazon Pay but one doesn’t require eCommerce integration. It is supported by Magento, PrestShop, Opencart, Shopify and BigCommerce.
Pricing Plans:
- No set up fee
- Transaction fee is 2.9% + $0.30
- No Monthly fee
- Braintree:
It was founded in 2007 and the founder Bryan Johnson dreamed of making Dreamtree better than any other payment gateway. The company like the others specializes in online payments for all eCommerce businesses. It is actually a subsidiary of PayPal and besides accepting the traditional methods of online payments they also accept Android Pay, PayPal, Venmo, Bitcoin and Apple Pay. The company has always been transparent about the charges and fees they take which has been the main factor of its growth in this industry. They have two plans – standard and enterprise. The charges for enterprise are tailored on the basis of the business. They offer special added features for the enterprise customers such as advanced fraud tools, data migration assistance, interchange plus options, dedicated account support, integration support, third-party integrations and much more. Enterprise model is best suited for those who already have an established business. Supported platforms of Braintree include BigCommerce, WooCommerce, Yodle and 3dCart.
Pricing Plans:/c
- No set up fee
- Transaction fee is 2.9% + $0.30 for standard.
- No Monthly fee
The above payment gateways offer best services besides being reliable and secure payment options.