Top 10 Payment Gateways You Should Choose For Your E-Commerce Website
Ok, your eCommerce website has an attractive design, you have listed good products, even the performance of the website is also well, and your website has visitors in a good amount. But the problem that you would have often faced is a low conversion rate. Do you know why? This might be because of negligible payment methods. Your customers get the payment gateway, but the unavailability of their preferred provider listed can make them step back from your website.
Achieving success in eCommerce space majorly depends on what you are serving your customers. To provide an amazing shopping experience for your customers, you should consider all types of payment methods. Owing a complete payment gateway can be valuable for your eCommerce business.
As per some reports, payments using mobile wallets are projected to increase from 8 to 15 percent by 2020, and by 2022, almost 500 million people are going to pay digitally for their online purchases. Therefore, as a seller, you must keep in mind the importance of secure payment gateways and the effect they have on your business.
What is the Payment Gateway?
A payment gateway is a tool that creates a bridge between the sender and receiver as it authorizes you to make a secure transaction from your bank account to the merchant’s payment portal. The online transaction can be made through different payment modes such as net banking, credit card, debit card, UPI or the many online wallets that are available these days.
In the tech world, you can see various payment gateways available today but among them choosing the best payment gateway might be a daunting task for you. Here is the list of popular online payment gateways that you can choose according to your requirements.
Authorize.Net is one of the most popular payment gateways that was founded in 1996. More than 400,000 merchants worldwide are using this payment gateway. Authorize.Net is the best payment options for small and medium-sized businesses. It accepts online payment from users through credit cards and electronic cheques.
For the first time, you need to pay $49 as setup fees for payment gateway integration, while the monthly fee is $29. As per the experts, Authorize.Net is best for Magento eCommerce websites and shopping carts such as osCommerce.
PayPal is another most recognized and widely accepted payment gateway by the e-commerce business domain. It provides a secure, fast and easier way to pay. It is being used in over 200 markets and trusted by over 250 million customers. It works with all small, large shopping carts and e-commerce platforms.
It is much more than just a payment gateway such as many casual users have PayPal accounts to make casual payments. It also has versions of payment solutions, such as PayPal Payments Pro, PayPal Express Checkout, and PayPal Payments Standard.
It is free for users while merchants need to pay transition fees for payments. It is free for users and merchants as it does not require any setup charges, gateway fees, or monthly charges.
Amazon Pay has become famous since its launch. It is widely using all across the world as it comes in the form of an e-wallet and payment gateway for businesses. This payment gateway is best for large and small companies.
Amazon Pay provides secure, fast and easier payment services for a better experience. There is no setup cost and monthly charges as it is free and can easily integrate through Amazon Payment Gateway Integration API.
It is one of the best payment gateways for Shopify, payment gateways for WooCommerce, payment gateways for an eCommerce store.
For more than 15 years, 2Checkout stands high by serving above 40000 merchants. One of the most important things about 2Checkout is its 200 plus unique fraud prevention rules which makes it one of the most trusted payment gateway providers. 2Checkout has reached level 1 PCI compliance.
Pricing is 3.9% + 0.45 cent on every successful transaction. There are no monthly and setup fees to integrate this on your e-commerce website.
Stripe is exclusively developed for e-commerce to make payment easy to merchants. It is easy to set up which can be customized as per your necessities. The one-click checkout makes it popular among retailers and becomes it popular software for internet business. Every year, Stripe handles billions of dollars transactions all around the world. There is no need to pay for setup or monthly fees.
BluePay Processing LLC
BluePay is of the best payment gateway tools that simplify online payment every way customers pay. In a very short time, this tool has captured the whole digital payment market by providing secure, easy and fast payment services. BluePay accepts payments via credit card and electronic cheques. It charges $15 monthly service fees.
PaySimple is another best software for e-commerce websites that accepts all major credit cards and e-checks payments. It is the best platform for small and mid-size eCommerce stores. It also provides a facility to the mobile app as well as a mobile card reader for taking in-person payments on the go. The basic plan of PaySimple starts from $34.95/month.
Introduced in 2003 and serving more than 5200 shopping carts, FastCharge is a payment gateway that authorizes payments for small & mid-size online businesses, retailers, and mobile merchants. It is very secure and takes less time to setup. It doesn’t require any setup fee, the only thing you need to pay is Gateway Fee which is $10/month.
This is a one-stop solution for almost everything. It allows the merchant to accept payments through credit and debit cards. It takes a cut over every transaction. If you are running an online store or brick and mortar store, then Square is the best payment gateway for your store to streamline all your digital payment processes.
ChronoPay is also the best payment gateway which has managed to make its position among the top 10 payment gateways. This is the payment gateway for businesses of all sizes that accepts payments via all major banks such as VISA, American Express, etc. You can integrate ChronoPay for free, however, you require to pay a commission based on your monthly turnover.
Payment gateway integration in mobile application or Payment Gateway Integration into Website is essential to increase your customer base. To provide your customers amazing shopping experience you need to consider the above-discussed Payment Gateways API that is easy to integrate, secure and affordable.