Payment Gateways are the different means by which sellers receive payment from their customers. They might be online or in person. People prefer to choose reliable and safe ways of doing transactions so that they may save themselves from being robbed.
Famous Payment Gateways in 2021
There are many famous payment gateways that are available to facilitate the customers. We have made a collection of 7 best payment gateways, suggested by Shopify pro, amongst the top ones so that it becomes easy for you to make a choice. So let us start:
Authorize.Net
It is said to be the best payment gateway and is very famous amongst people. It has been helping around 430,000 sellers to get payments from their customers. They serve such a large number of sellers because they have been in this field since 1996. It helps sellers to receive payments via credit cards, debit cards, cheques and what not!
It is very easy to use and operate. It costs $25 per month and deducts $0.10 per transaction. It has a very simple system of invoice making and it puts all its efforts to make sure that there is no risk of any frauds. It is to be noted that its checkout system is very easy and user friendly as well
Stripe
Stripe is one of the most popular payment gateways. Around 90 percent of the people who prefer to do online shopping use Stripe when it comes to payment collection. This payment gateway operated in 4 countries in the US and they have a fleet of about 4000 employees working under its umbrella.
Stripe offers a virtual point of sales so that the sellers can easily unite both their online and offline sales channels. It does have any monthly fee payment. It offers great service with email, chat and call support. It has its own iOS and Android applicatication for the seller to stay in touch with the buyer.
PayPal
How is it possible to overlook the widespread usage of PayPal while discussing the other payment gateways? PayPal has been used commonly by almost everyone as it is very easy to operate. People try to look for paypal options when doing checkout from an online store because of its user friendly interface.
PayPal has successfully integrated itself with some of the famous ecommerce platforms like Shopify, BigCommerce and WooCommerce. It also offers mobile friendly credit card payment options. Its monthly fee is $30 and it charges 2.9% of the total payment received by the seller along with an addition of $0.30 on every transaction done through it.
Braintree
It is owned by Paypal and it is free for the sellers around the globe. It has no account and monthly charges. However it takes 2.9% of the amount with an addition of $0.30 per transaction incurred by the seller.
It is very easy to set up and has a user-friendly interface that helps the seller to get his money in just a few easy steps. People specially who belong to the United States, Canada, Australia, Europe, Singapore, Hong Kong, Malaysia, and New Zealand prefer to use Braintree as a common means of getting payments from the buyers.
Amazon Pay
It is a free of cost payment gateway. It is not wholly bound to the Amazon website. It can be used as a payment receiving medium in case of shopping from websites other than Amazon as well. Here is one thing to note. If you wish to use Amazon pay, you will have to Amazon Seller as well. This is because most of its transactional activities are managed by Amazon Seller Dashboard.
You can collect donations, use credit cards for payments and collaborate with third party shopping websites. Amazon pay does not charge you for making an account and there is no monthly fee as well. Your payment at first will be held by amazon for a time period of 14 days and then for days before transferring your amount back to you.
WePay
It was established and became functional in 2008. It is used to receive payments from multiple channels for the ease of the merchant to ensure uninterrupted flow of money. It mostly accepts the payments through credit cards. It has many user friendly features that makes it the ultimate choice of merchants to perform their transactions. Its most prominent feature is the easy chkout system for online and physical transactions. It takes 2.9% plus $0.30 per transaction which is a nominal fee if we compare it to the others that we have stated above.
2Checkout
It was created in the year 2006 and it has been serving around 20000 merchants across the globe. It serves in 200 countries and deals with approximately 100 different currencies. It accepts payments via mastercard, credit card, visa card, American express, JCB and paypal. It allows merchants to make their own customized checkout process and generate the history or transactions to keep a record of all of them.
It offers good and memorable buying experiences by using the mobile phone. It also offers discount codes and coupons so that more and more customers use it and never leave their cart abandoned. It can manage more than 120 carts at a single time. 2Checkout helps to have a deep insight of the sales performed by a company. It also allows you to sell any type of product and helps to scale your company up for its international popularity. It uses 3.5 percent of the money received through it along with an addition of $0.35 per transaction.
Conclusion:
To conclude this informative discussion, it is to be stated that apart from the above stated payment gateways, there are hundreds of more existing but are not listed here due to their unreliable and expensive services. The above stated list is quite comprehensive and will help you to understand and choose the best gateway. After reading about them, a merchant can easily analyze and compare their features and make an appropriate choice for his business.
