The 15 Most Popular Online Payment Gateways for Your eCommerce
Is one of the most widely accepted digital payment methods for North American retailers.
Makes it simple to pay for products and services using the information already stored in their Amazon accounts.
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The all-in-one monetization platform that maximizes your revenues and makes global digital sales easier.
For small-to-medium-sized businesses, can help you grow your business with a host of flexible payment options.
Have a Consider it the Tesla of payment gateways. Meet the newest disruptor in payment gateway technology.
If you want a mid-range mobile POS option, this getaway good for you. We cut out the middlemen.
Hello, future! WePay offers modern payment options, like Apple Pay and Android Pay.
Worldpay is a UK-based (but global) omnichannel payment solutions for businesses of all sizes.
Accept every payment quickly, easily, and securely. On any diplay, Via invoice, On your website.
OpenEdge develops products and services for more than 60 industries..
Operations span 18 markets. Asia, Central and Eastern Europe, Latin America, Middle East and Africa.
Sending money, shopping online, making in-game purchases or speculating on currency markets.
Are you looking for a Paypal or Stripe alternative? Need a merchant services provider who understands your needs?
Most common eCommerce platforms:
What exactly is a payment gateway? How does it work? How should you go about choosing one that’s best for your site? What options are out there?
Ninety-six percent of Americans shop online (with a staggering 224 million digital shoppers in the U.S. predicted by 2019), so like you, they’re familiar with the basic steps of the e-commerce shopping experience.
It is second-nature, like signing your name or tying your shoes: browse, pick a product, add to cart, hit the checkout.
But what happens between your customers entering their credit card numbers and you getting paid?
These gateways act as in-between services, processing inputted information provided during checkout and facilitating the authorization or fulfillment of payments made for e-businesses and online retailers. They’re used in brick-and-mortar establishments, too.
So why use a payment gateway?
Well, for starters, they take charge of purchasing’s tricky tasks: encrypting (i.e. securing) sensitive info — like credit card numbers — and helping you meet certain standards for data security online, ensuring safe transactions between you and your customer.
Plus, gateways save you time and work, removing the need for you to manually input info received on your end. They also offer flexibility in the types of payments customers can use. And flexibility is good — it increases the likelihood of sales by widening accessibility for customers with a variety of different payment types.
True fact: customers are likely to abandon their carts due to lack of payment options.
Selecting a Payment Gateway
Now to your big decision: choosing a payment gateway for your small biz. It’s a little scary: 46 percent of cart abandonments occur at the payment stage of checkout; if yours isn’t outfitted with a smart payment gateway, you could be looking at lost sales.
What to Consider When Choosing a Payment Gateway
With the right payment gateway, it’s a win, win, win.
But how do you know if you’ve found “the one?”
Well, when third-party tools are involved, you want to evaluate the individual features of each and make a choice based on the needs and capabilities of your site. Here are five important factors you should consider:
It’s a no-brainer, but people are not going to just fork over sensitive financial information to sites that look shady. You want a payment gateway that’s reputable and provides safe checkout experiences for your customers.
Above all, only use a payment gateway that handles your customers’ delicate data with care. If you do, they’re more likely to stick around.
Like with almost any service, there are fees associated using third-party tools like payment gateways. For transactions processed on behalf of your business, you’ll have to pay fees — so pay attention to your gateway’s costs and do your research before integrating it into your site so you’re not slammed with surprise fees.
These fees charged can include transaction, statement, chargeback, merchant account fees, and likely more — such as fees to customers for using a certain payment method. And not surprisingly, customers do NOT like hidden costs so read the fine print.
Accepted Payment Methods
The reality is, the easier you make it for customers to make purchases, the more they’re likely to make. By outfitting your site with a payment gateway that incorporates a wide variety of payment methods, your widening your sales net — 50 percent of regular online shoppers say they’d jump ship on a purchase if they couldn’t use their preferred payment method.
Using your site’s analytics, observe what countries have shoppers visiting your site — preferred payment methods may differ by country.
Plus, it’s also a matter of security: 40 percent of study participants said they would feel more comfortable shopping from a business that offers multiple payment methods. Chew on that.
Of course, an important consideration is how well your gateway will integrate with your current platform — both from a technical and design standpoint. If it takes an over-abundance of messy tricks to incorporate smoothly into your existing structure, you might want to rethink your choice.
Nobody got time for that.
And while many gateways (like Stripe, for example) can be customized to match your site’s feel, you want to make sure your gateway tool is compatible with your brand. Don’t make your customers’ purchasing experiences jarring with mismatched elements.
Some payment gateways allow customers to complete a transaction within the checkout processes of the website, while others lead users to another site to finish their purchases. Some gateways provide an API that incorporates directly into your site, others reroute visitors to third-party sites. Whatever you choose, consider what will provide the best user experience for your shoppers — if customers trust your site, they might not mind the extra diversion.
Disclaimer: We strive to provide accurate, up-to-date content. We recommend that you consult always with a professional for relevant business decisions. Our main focus is the eCommerce ecosystem, however, some areas are not our competence and we make recommendations for the comments of other professionals or consumers who leave their comments on various websites. Product or company names, logos, and trademarks referred to on this site belong to their respective owners.