Trying to find the Best Payment Gateways but don’t know which tools to be used for blogs and eCommerce? Of course, when you start a blog, or an eCommerce site and want to pay and receive money, you just need a payment facilitator to manage your online transactions all over the web. Most bloggers and eCommerce merchants add multiple payment gateways to their sites to let customers pay online in a way that is free from any inconvenience and simple to use yet integrated with tightened security measures.
- PayPal
- Stripe
- Payoneer
- Skrill
- 2Checkout
- Amazon Pay
- Authorize.net
- ECOMPAY
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What Is a Payment Gateway in Financial Transaction?
To put it in simple terms, a Payment Gateway is a third-party payment processor that collects the amount from the clients and transfers it into the merchant’s account online using its built-in tools and technologies. Probably, you used some of the best payment gateways while buying products and paying the merchants who supplied products and services to you. PayPal, Amazon Pay, Google Pay, Stripe, Skrill, etc. are some of the top payment gateways that most clients use to pay their merchants and service providers while purchasing products online.
Who Needs the Best Payment Gateways?
Only those merchants, e-commerce service providers, and companies need the payment gateways, who sell products and receive money online to their accounts from their clients. Haven’t you used Amazon to purchase goods? It has its own payment processor called Amazon Pay. Being an eCommerce giant, the company sells millions of products online all over the world and receives payments from its customers.
There are so many companies, merchants, and eCommerce service providers who sell products to their customers. These service providers need to use the best payment gateways so that the customers can pay them while buying goods and services from them.
So, Payment Gateways are needed for:
- Merchants
- Freelancers
- Bloggers
- Web hosting companies
- Digital marketing service providers, and
- Ecommerce service providers
If you want to build an eCommerce site, sell products online and receive payments, then you too need a payment gateway. Most web hosting companies and merchants, especially in eCommerce use the best payment gateways to let their customers pay online.
Features of the Best Payment Gateways
You’re ready to choose one of the top payment processors to take your business to the next level but you should learn what features they should have in their systems. I have taken into consideration some of the top specifications for the best services in all respect, which are as below.
- User-friendliness.
- Compatible with multiple user platforms including mobile, website, and more.
- Multiple layers of security to prevent fraud.
- Compliant with PCI standards.
- Flexibility to integrate with other third-party systems, and payment gateways.
These are some peculiar specifications for the best payment gateways, which accrue confidence to the customers and add to your revenues.
Which Are the Best Payment Gateways?
So far you have learned who needs the best payment processors to receive and pay sums of money online while buying and selling goods and services. I’m going to tell you the list of the top payment gateways but learn which services and facilities they should give you. There are many instances of pros and cons they provide but I think it must include easy payment, transparency in transactions, a reasonable amount of transaction fees, and above all, stronger security to protect buyer’s sensitive information.
Nowadays, the best payment gateways are PayPal, Stripe, Payoneer, Skrill, Amazon Pay, Google Pay, and Authorize. Net, etc.
PayPal
PayPal is one of the most used payment gateways in the world, and most merchants used it to pay and receive money both online and in person. The company operates in more than 200 countries or regions and supports about 25 currencies. Both individuals and merchants can open accounts in PayPal, and send and receive money through it. As for transaction and transparency, it comes in handy. You can set up your account with ease, and carry out transactions at your finger ends. There is not so much complicacy. The processing software comes with built-in fraud detection measures, tax implications, and multiple modes of payments to let you process payments in a way that is hassle-free.
Processing Fee: 2.99% plus 49 cents to 3.49% plus 49 cents, based on the modes and ways of payment.
Who Needs: PayPal is best for small to medium businesses.
As one of the best payment gateways, it supports integrations with websites, shopping carts, POS, and payment through links.
Stripe
Stripe is another popular payment processor having headquarters in California, the United States, and Dublin, Ireland. The company operates almost all over the world, with 8000 staff. It accepts more than 135 currencies and dozens of payment methods. Even you can use it with developers’ tools to integrate with your website and accept payments.
Fee: 2.99% to 3.99% plus 30 cents, based on the type of transaction.
Who Needs Stripe: Accepts International payments.
Payoneer
Payoneer makes its list of the best payment gateways to provide cross-border payments to its clients, and merchants. The company laid its foundation in the United Stas, New York in 2005. With 5M+ customers, 2000+ employees, 21 global offices, and services in 200 territories and currencies, Payoneer has stood to be one of the major payment processors in the world. It delivers a wide range of services including cross-border payments, working capital, tax solutions, and risk management, based on its robust technology, banking infrastructure, operation, and expert teams.
No matter, What you are— a freelancer, a digital marketer, a service provider, or an online seller. It comes with varieties of flexible plans to provide you with the best customer service integrated with a suite of technology-driven infrastructure.
Fee: 3% for credit card-based payments.
Who Should Use Payoneer? Best for small to medium-sized businesses with local and international payments.
Learn more about Payoneer.
Skrill
Skrill too makes its place in the list of the best payment gateways, by providing multi-currency payments in digital wallets. The company was founded on 27th July 2001, in London, United Kingdom. This digital wallet operates in 131 countries supporting payments in 40 currencies. You can send, accept, and store money using this wallet.
Skrill enables payments through several ways including, credit cards, bank accounts, digital wallets, and other methods. If needed, it lets you connect with API services to enable financial transactions in a way that is hassle-free.
Fees: 1.00% to 2.5%
Who needs Skrill? Small to medium businesses that receive and pay in local and international currencies.
2Checkout
Want to get one of the biggest and most secure online payment platforms to enable online payment? If it is what you want, then 2Checkout stands to be your correct choice. It takes care of global payment processing, sales tax management, invoicing, compliance, local entities, and more. Providing services to over 200 territories and regions with 45+ currencies, it becomes a good choice for merchants and business entities. As for language, it comes with 30+ options to choose from, based on your choice.
2Checkout is more than a payment processor as it is also a Software as Service(SaaS) platform for B2B and B2C businesses.
As one of the best payment gateways, it offers multiple plans with built-in security & fraud detection, reports and analytics, API integration, and quick customer support in the form of 24/7.
2Checkout comes with three plans with excellent features.
Fees: 3.5% to 6.0%, based on your plan.
Who Needs It? 2Checkout is best for small to large businesses willing to accept online payment.
Authorize.Net
Haven’t heard of Authorize.net? It is one of the most popular and best payment gateways, which was founded back in 1996. More than 455,000 merchants trust and use this payment gateway. Customers can pay online using many ways, such as mobile payments, online payments,eCheck, and virtual points of sale. The platform supports integration with API, native iOS, Android, and SDK.
Authorize.net provides two plans, All-in-One option, and Payment Gateway Only.
Fees: Per transaction 2.9% + 30¢ or10¢, and US$25/Month.
Amazon Pay
Among the best payment gateways, Amazon Pay too must be included as it serves as a leading payment processor. This service was launched back in 2007, but now it is available in more than 18 countries in the world including, the USA, Europe, and Asia. The company also supports UPI-based payment in India. It offers accounts both for shoppers and merchants. Customers can pay merchants online using a number of ways like credit cards, net banking, wallet, etc.
Amazon Pay, being one of the best payment gateways, comes with fraud detection, customer identification, site integration, automatic payment, and more advanced features.
ECOMPAY
ECOMPAY is a UK-based payment gateway providing and processing payments through multiple ways using its modern technology-based APIs, integration with CMS, and other multiple payment processors. The company was founded in 2012, in the United Kingdom with 10+ members in a group, but now it has grown to 700+ team members, 350+ it specialists, and 4+ offices worldwide. Pay your customers and accept payment from them using 100+ payment ways from within a single payment gateway.
ECOMPAY comes with:
- Global acquiring to pay from anywhere in the world, using cards.
- Alternative payment methods.
- Open banking to accept payment.
- Subscription payment
- Buy now pay later.
It can integrate with CMS-based websites, and development toolkits to provide services to websites & applications.
Fee: Based on negotiation.
Who Should Use Ecompay? Ecommerce service holders, small to medium businesses.
Besides, there are many small to big payment processors like Braintree, Adyen, Fondy, Tap2Pay, Helcim, Stax, Square, etc.
