Online shoppers finish their purchase process by making a payment for the good or service. A payment gateway offers a safe and practical way to accept payments when it is integrated with an online company website. A customer’s decision to buy will be influenced by a smooth payment process completed in a secure environment, increasing sales for the eCommerce business. Payment gateways are a crucial component of the development of an eCommerce website due to increased sales.
Over the past few years, payment gateways have developed to provide greater security and functionality. Making a decision among the several payment gateway service providers on the market might be challenging for a business. Read all about payment gateways in this article to learn how to sort through the top payment gateways for your online store.
Payment Gateways: What Are They?
Simply put, payment gateways are gateways that enable online payments from customers. From a page on the eCommerce website they are using, the clients can finish the payment process.
In order to execute the transaction, a service links the website to the bank. Although the service can be utilized by any website that needs to conduct an online transaction, eCommerce websites rely heavily on it.
One of the most crucial eCommerce growth strategies is the use of payment gateways. They have greatly benefited the eCommerce sector by enabling digital transactions in a safe setting. This has aided eCommerce websites in gaining the confidence of their users.
Top e-commerce payment gateways for online businesses in 2021:
1. Square
Square, INCpayment .’s gateway is called Square. It is renowned for its user-friendly payment processing and low cost. The payment gateway prioritizes simplicity, making it the perfect option for a company. With Square, the majority of functionality are accessible directly from the dashboard.
Chargeback defense, fraud detection, account takeover defense, and other services are all provided by Square. Additionally, it provides a virtual terminal so that a company can receive payments from any device.
2. Payoneer
Businesses can send and receive payments with Payoneer, an American internet payment service company. By utilizing its presence in more than 200 countries and 150 local currencies worldwide, it simplifies international payments.
The payment gateway enables retailers to receive payments in the local currency of the customer and translates it into the desired currency. Faster payments are made possible through Payoneer; payments can be received in as little as two hours.
The end user can handle their payments via a Payoneer account, which is provided by Payoneer. Additionally, Payoneer provides a mechanism that enables debit card direct withdrawals of monies. Among the services offered by the payment gateway are cross-border payments, working capital, risk management, and tax planning.
You can connect with partner ecosystems through Payoneer, creating a number of options to connect and grow your business. Payoneer has lower fees than PayPal, thus all sizes of businesses, especially those operating overseas, use it for online transactions.
3. PayCafe
All-inclusive payment solution provider PayCafe serves companies of all sizes. For one-time payments, subscriptions, or invoicing, they provide services.
Payments can be accepted once the marketplace has undergone its initial setup. The PayCafe payment gateway can be used independently of any other vendor or system.
Currency conversion, payment risk monitoring, and customized emails are just a few of the services provided by PayCafe. PayCafe also provides telephone customer service around-the-clock. A fraud prevention system and analytics tools are included with the payment gateway.
4. Helcim
Helcim is a payments service that provides businesses in the US and Canada with quicker, more intelligent, and more cheap payments. All Helcim accounts come with access to the Helcim Merchant Platform, which provides companies with tools to make it simpler for customers to pay them. These facilities include a virtual terminal, an online store, invoicing, payment pages, and more.
Businesses using Helcim can request bank payments from clients or accept all common credit and debit cards. Businesses can integrate payments and offer flexible, scalable solutions for various business needs thanks to the Helcim API.
The Helcim API is a typical payment gateway API that business owners can use on their websites to process online payments or to communicate with their current Helcim account.
More importantly, developers may quickly carry out more than 80 different API activities with Helcim. For instance, your developer might immediately link your application, website, shopping cart, billing system, etc. with our payment platform.
Helcim enables you to perform a variety of online transactions, including sales, recurring payments, pre-authorizations, voids, refunds, card-tokens, captures, and more.
5. Stripe
Stripe started doing business in 2011. It is a single platform that gives users access to a full range of payment products for sending and receiving money. The features of Stripe can be changed. Businesses can make advantage of the configurable development options if they have access to an internal coding team or if they want to outsource this work. With the help of Stripe’s numerous APIs, subscription services, on-demand marketplace integration, and crowdfunding platform integration may all be done. These services enable companies to accept payments through any of the aforementioned channels.
Ruby, Python, PHP, and Java are just a few of the many programming languages that Stripe supports, offering developers plenty of freedom and enabling integration with a wide range of websites and programs. The ability to accept payments in 135+ currencies and 35+ local acquiring markets gives the company the freedom to expand abroad. Additionally, it provides services that let you process payments entirely on your website.
6. Pay Pal (Standard Plan)
Since its founding in 1998, PayPal has built a reputation for reliability across the globe. Payments can be sent and received in cash or even cryptocurrencies (restricted to a few states within the US). More than 200 countries and 100 different currencies are supported by PayPal. Although it operates in roughly the same number of nations as Payoneer, fewer currencies are supported. It gives retailers access to a POS, a merchant account, invoicing features, and payment processing in one convenient location.
The purchasers benefit from a better customer experience thanks to our online payment channel. In order to enable direct payments, it is connected to the buyers’ bank accounts. PayPal’s cheaper transaction fees also enable retailers to cut back on recurrent expenses.
Source: ecommerce payment solution , ecommerce payment gateway
