Which payment gateway should i use

This gives you additional assurance that your payment gateway is safe — or at least capable of handling threats as they arise. Square is a credit card processor and payment gateway provider famous for physical credit card swipers that attach to your phone. They also charge a premium for transactions you enter manually:. Stripe is a popular payment gateway provider with a broad focus on mobile ecommerce, SaaS, non-profits, and platform-based payments.

As with PayPal, many other of the payment gateways on this list allow retailers to accept Apple Pay payments. Amazon Pay comes with a number of plugins, including some for use with BigCommerce. Amazon Pay currently charges 2. International fees escalate to 3. Adyen is built for both point-of-sale and online purchases, accepting a broad range of payments from major credit cards and providers like Apple Pay. Adyen has proven its ability to handle large volumes of transactions with partnerships with brands like Uber, LinkedIn, and Microsoft.

Subscribe to our bi-weekly newsletter to get the latest thought leadership content delivered right to your inbox — from blogs and resource articles, to podcast episodes, webinars and more. For example, PayPal has an annual payment volume of over half a trillion dollars. Consider that in China, Alipay is much more popular than payment options that might be familiar to customers in the US. Merchants looking to capture a broad international audience need to make sure their payment gateway can handle it.

Consider tools like Webinterpret that can plug into your ecommerce platform and provide a fully localized international checkout process enabling you to accept payment in 25 currencies. More than one third of consumers hesitate to place an order online due to security concerns.

You can reduce or even eliminate some of these weaknesses through stacking payment gateways. The process boils down to employing multiple gateways on your ecommerce platform to maximize how many options your customers have for purchase. This practice has multiple benefits:. But what about customers with alternative cards like American Express?

Payment gateways enable merchants to accept online and mobile payments directly from their ecommerce website. This is beneficial both to customers, who enjoy an easy checkout process, and merchants, who give their cash flow a boost. A payment gateway is used to accept and authorize card payments. It does this by validating card details, ensuring there are sufficient funds to complete the transaction, and completing the transaction.

To use a traditional payment gateway, you would first need your own merchant account used to receive credit card payments. Examples of traditional gateways include services like Authorize. These take slightly longer to set up and do require that you register for a merchant account. A modern gateway bypasses this step and deposits card details directly into your business bank account. Examples include gateways like Stripe and PayPal, which offer a quick setup and integration process. However, you can expect to pay slightly higher fees per transaction to cover the costs of this convenience.

Apart from whether to register for a merchant account, what else is involved with the question of how to choose a payment gateway? Here are some of the most important factors to keep in mind.

Hosted payment gateways redirect customers to a separate processing website, where they must enter their card details. With a non-hosted payment gateway, the customer enters their card details directly on your website. There are pros and cons to each option. While hosted gateways add an extra step to the payment process, they also take care of all the security and maintenance on your behalf.

Designed for small-to-medium-sized businesses, the payment service at Authorize. Consider it the Tesla of payment gateways. Meet the newest service provider and disruptor in payment gateway technology: money-mover tool Dwolla. As a bank transfer solution, merchants within Dwolla can accept bank payments simply — with additional e-business-minded features like shopping cart plugins and website integration.

It is already used by investment company Wunder and sneaker-selling app Goat. Tailored exclusively for e-commerce, Stripe provides extensive functionality regardless of what your business sells and has a resume loaded with high-level customers like Pinterest, Lyft, Slack, and OpenTable. Worldpay is a comprehensive, UK-based but global service that offers omnichannel payment solutions for businesses of all sizes. Plus, you can pay as you go or choose a monthly payment option.

Merchant e-Solutions is a unified platform that provides a no-fuss solution for online, mobile, or brick-and-mortar payment solutions. Simplify Commerce , a MasterCard entity, aims to make it easy for your business to receive payments. Want to see the gateways side-by-side or analyze other potential drawbacks? Adyen is used by companies such as Uber, Spotify, Microsoft and eBay to handle business and customer transactions.

The software lets you accept every payment made to your company from a single platform, as well as giving you tools to manage risk and track results. Processing fees vary by the method of payment, but the firm uses Interchange pricing, with an additional transaction fee.

However, you will need a merchant bank account to take advantage of interchange pricing. Adyen - The global gateway The Adyen payments platform supports all key payment methods globally. The main aim of these solutions is to streamline the payments process, and Authorize. Developed with firms of all sizes in mind and offering a choice of plans, the platform gives you the tools to sell items and take payments online, or in-person at a store.

With the solution, you can accept payments from websites and transfer funds into a merchant bank account quickly. As well as this, the platform is compatible with digital payment services such as Apple Pay, PayPal and Visa Checkout.

The best way to take advantage of Authorize. At the other end of the spectrum are enterprise solutions which offer tailored pricing for larger business needs. Choose a plan, complete the application and start processing. Pick from flexible options that include an All-in-One option with a per transaction rate of 2. While we've mentioned some of the best merchant gateways, there are a number of others worth considering. This is especially as many are available to integrate with existing ecommerce platforms using nothing more than an easy-to-install plugin.

Here, therefore, we'll list some additional merchant gateways that are well worth considering, according to the differing needs of online businesses. This makes it especially useful for online businesses selling digital services such as web hosting or web design companies.

It's also commonly available as a plugin for major ecommerce platforms, and can process a wide range of global currencies. Opayo , offers not just a merchant gateway, but the ability to directly record all sales and transactions directly into your Sage accounting software. This makes it especially invaluable for efficiency purposes, not least because it means you can see your costs and income in real-time.

However, while there are different plans available for Opayo, it's best to have a merchant account to get the most out of the software, not least for reducing transaction fees in the first place.