Top 11 Best Payment Gateways for Your Ecommerce Site
Ecommerce Payments websites are a necessity these days. No matter what you’re selling online, there’s a lot of competition, and it can be difficult to gain traction in this crowded market. You need to find a payment method that will help you stand out from the rest, one that will make people want to buy from your website instead of from their local stores – one with greater profit margins, not just price points.
The decision to add one of the many available payment options to your online store might seem like a complicated one. In reality, it’s not as difficult as you might think: Here are the best payment methods to use for your eCommerce payments website.
Mainly because credit cards and PayPal provide some very attractive benefits for sellers and buyers alike, these payment methods are typically the first choices when starting an online store. But there’s more to the story than just convenience and accessibility: Let’s look at the main reasons why various payment options work well for eCommerce payment gateway merchants.
What do Online Payment Gateways mean?
Online payment gateways are a way of processing payments over the internet without the need for a direct credit card.
A payment gateway typically takes in different types of input and sends them to an account processor for verification before authorizing the transaction and sending it back to the site that initiated it.
Available payment gateways include Authorize.net, Click2Sell, PayPal, and Worldpay. The costs associated with these are usually based on a commission structure as well as additional fees like setup or monthly fees. The most popular methods are PayPal and credit cards due to their relatively low processing costs, which is why they remain popular today.
Should businesses have multiple payment systems?
When it comes to shopping online, consumers enjoy a variety of payment methods available from which they can choose. However, not all shoppers are aware that some retailers offer the option for more than one payment method. If you, too, would like to make use of your company’s multiple payment options for your internet purchases, read on!
One way you can make buying easier is by offering customers the following:
1) Payment by voice over the phone or tablet;
2) Payment by email or text message;
3) Payment via PayPal;
4) Bitcoin (in certain countries);
5) Gift cards that can be redeemed either in-store or online to facilitate purchasing items right away.
Top 11 Online Merchant Payment systems
Google Pay, their online payment method, is now available. According to Google, hundreds of millions of their users already have card information saved to their Google accounts, so adding a Google Pay option provides added convenience for a large number of people. They, like the other options, promise an easy-to-use process (both on desktop and mobile) and top-tier security via encryption. Google Pay also allows retailers to create loyalty programs, digital gift cards, and deals for customers, allowing everyone to avoid using paper and plastic cards. Google Pay also integrates with PayPal and Visa Checkout for increased reach.
Paypal is one of the most popular and well-known online payment services. The site has over 254 million visitors per month. That’s a lot of people who would find it easier to purchase on your website if they could pay with Paypal. The service claims to be used by over 17 million businesses and that customers who use PayPal to check out convert at an 82% higher rate than those who use other payment methods.
Amazon is unquestionably one of the most popular websites on the internet, and almost all of your customers will already have accounts there. Adding Amazon Pay to your store allows Amazon customers to shop with you without having to enter their payment information at your checkout. You’ll lower the barriers to purchase for hundreds of millions of customers while also providing a payment option with proven fraud protection, according to the company.
Shopify has everything a person needs to get started selling goods and services online. It combines a payment processor, an online store builder, and an eCommerce marketing solution. We highly recommend Shopify for people starting new businesses because everything is included and works so well together. People who are currently using a different eCommerce platform may be persuaded to switch once they experience the convenience of Shopify.
Apple Pay works as a mobile wallet when Apple users are out, and a one-click payment option on websites accepts payments. For mobile users, customers can even check out with Apple Pay by using their touch identification—it doesn’t get much easier than that.
Stax is ideal for any small business. In addition to supporting all payment methods and working with the majority of terminals and point-of-sale (POS) systems, it also has a subscription-based pricing structure with a set monthly cost.
People who would be interested in an American Express checkout option are likely to be among the top visitors you want to attract. The company promises fraud protection, 24-hour customer service, and the ability to work with multiple payment processors and consider various add-on features. They also accept over 120 currencies, which is a big plus if you want to attract international customers.
Stripe offers a robust payment processing platform that makes it simple to accept payments from a variety of sources (credit cards, digital wallets, ACH transfers, and different currencies). They also offer several options for the checkout process. You can also use their custom UI toolkit to create a unique payment form.
Though Square is mostly known for its point-of-sale (POS) solutions for physical stores, it also provides eCommerce payment solutions. Many of the payment options listed here (Google Pay, Apple Pay, Masterclass), in addition to credit card payments, are supported using their online payment API.
All Visa cardholders can check out on your website without having to enter all of their payment information, thanks to Visa Checkout. Visa Checkout has more than 2 million users signed up, so you’d be facilitating checkout for a substantial percentage of your audience.
The American Express and Visa payment options are comparable to Mastercard’s Masterpass feature. Any Mastercard users can swiftly and easily check out from your website, thanks to this. Additionally, it offers the sophisticated payment security you’d anticipate from a credit card provider, including user authentication, tokenization, issuer authentication, and fraud monitoring.
As you’ll see, you have alternatives regarding how to be paid. However, choosing the best option is less important than deciding how many various online payment options you would want to offer to your clients. Each consumer has a distinct preferred method of payment. To meet everyone’s needs, make sure to have a gateway to support all payment software.