The best payment gateways make online processing simple, fast, and easy to manage. A top-notch payment gateway holds the success of your e-commerce site. Since cash on delivery is not the most attractive payment option especially if you are selling all your goods online, it’s best to have payment gateway in place.
To increase revenues, integrating payment gateways with your e-commerce site is a must. Here are top 12 payment platforms that are known for reliable, speedy, and efficient transactions for e-commerce business owners.
PayPal needs no introduction as it reigns to be one of the most popular payment gateways online. Its popularity stems from its excellent reliability and security features. Major ecommerce sites use PayPal due to its high accessibility and availability across the planet. Despite its expensive processing fees, sign up is free. There are no monthly fees since PayPal charges a transaction fee per single transaction. One of the major strengths of PayPal is its solid antifraud feature and technical support.
This payment platform is popular due to its developer-friendly API and the flexibility feature that delivers a customized and comfortable user experience. It is known as an extremely secure platform and its advanced fraud detection system that effectively prevents fraudulent transactions and chargebacks for online purchases. Unlike other payment gateways that limit dollar amount transactions, Authorize.Net provides unlimited freedom, speedy online transactions, and prompt funds transfer. Other add-on features that e-commerce owners and shoppers appreciate are its simple checkout system and fraud prevention program.
Stripe is fast becoming a solid competitor of major payment platforms such as PayPal. The company only started in 2010 and has grown exponentially with valuation of $20B as of 2020. Stripe offers trial period with delayed payments. Setup of Stripe account is easy and convenient to integrate and maintain into any ecommerce site. It allows customers to stay onsite while processing a payment without any redirection to the main Stripe website. This feature offers convenience and seamless processing that customers appreciate. Stripe is compatible with all payment methods, including major cryptocurrencies like Bitcoin.
SecurePay was founded in 1997 with the main goal of providing secured and simple online shopping for customers. Merchants who implement SecurePay on their site have the capability of processing transactions from anywhere on the globe. It accepts EMV and Apple Pay mobile transactions, too. It has partnered with a long list of online shopping cart providers, welcoming effective integration of the latest and most popular online shopping carts. It also allows customers to store customer details through its SSL which are kept securely in SecurePay’s PCI certified data security account.
5. Amazon Payments
This is a must-have for Amazon merchants. It offers fast, easy, and reliable processing of online purchases. Users can choose from two different payment plans, namely the Pay with Amazon for merchants and Login and Pay for shoppers. Using this payment gateway will significantly increase revenues as payment processing is fast and easy.
This payment platform was developed to deliver an efficient method to process payments via websites, mobile applications, and other devices that are connected to the Internet. It provides cloud-based solutions for merchants and institutions including ISPS, processing centers, banks and other internet acquiring services. Fondy features a support infrastructure for Maestro, MasterCard, Visa, and Visa Electron bank cards, as well as other payment gateways like PayPal, Swift, SEPA, partial payments, and direct debit payments.
7. Visa Checkout
Visa Checkout simplifies the checkout process for all Visa cardholders, as it eliminates the need to fill in all pertinent information. A large majority of online shoppers have enrolled Visa cards, which means it’s a smart move to include on your e-commerce site as well. Remember that fast checkouts result in increased conversions. With its advanced security features and easy setup options, there’s no reason why you shouldn’t take advantage of Visa Checkout.
Masterpass is similar to Visa’s Visa Checkout. It makes checkout easier for Mastercard holders and delivers advanced security features at the same time. Some of its security capabilities include user verification, issuer authentication, and fraud monitoring. One of the good things about Masterpass is that you don’t need to pay a premium to set it up for your e-commerce site.
9. Alipay Global
AliPay is one of the major payment gateway systems for merchants and shoppers in China. It prides itself for its intuitive, safe, and secures when processing payments online It can support all major currencies like USD, JPY, GBP, AUD, CAD, SGD, SEK, HKD, NOK, and CHF.
This is a Shopify-specific payment gateway system that enables merchants to accept credit card payments from local and internal customers. If you are a Shopify merchant, it’s a smart move to integrate this into your online shop. It is being used in more than 87 countries and supports major credit card payments, including Visa, Diners Club, American Express, and Mastercard to name a few.
Skrill is inarguably the biggest and most popular payment systems in Europe. It is available in over 40 European countries and known for its safe and secure processing of online transactions. One of the major selling points of Skrill is its 1.9% checkout transfer fee- processing fee that is considered low, especially when you compare it to PayPal.
12. Apple Pay
Apple Pay is the digital wallet for iOS users. If you have an m-commerce site, you need to add Apple Pay as one of your major payment options. The ease and convenience in checkout are unprecedented, since iPhone, iPad, or Mac users can complete a transaction in just one lick. There is less chance of cart abandonment with Apple Pay, since all pertinent information and card details are automatically filled in upon checkout. Apple Pay is not only available for online purchases, as merchants may use it to accept payments at their brick-and-mortar shops, too. And the best part- Apple doesn’t charge additional fees to merchants who decide to integrate Apple Pay into their eCommerce site’s payment gateway options. Now that you are familiar with all the top 12 payment gateway platforms online, you can now enjoy more conversions and reduce cart abandonment rates in the long run. By offering them a faster and simpler way to conduct online purchases, you are most likely to get business from new and repeating customers alike.