The one factor that is ruling the IT business lately are the e-commerce websites. From shopping for a pen to purchasing electronic applications, one has to simply click a button on the web site, make the payment and the product is yours. But, how to make the payment to the merchant is where the payment gateway comes into the scenario. Payment gateway is a self-operating server (third party) that makes the transactions occur between the end user and the merchant’s server. In simpler words we can say payment gateway is bridge connecting buyer and seller for transactions. You can find a range of eminent payment gateways within the market like PayPal, Sage pay, Authorize.net, PayU India, Stripe, 2Checkout, PaySimple, Skrill, Braintree, SecurePay, etc.
PayPal is widely used everywhere in the world. Not solely because of its easy use, secure and reliable characteristics but, it’s more common for its quick (express) and heckle free checkout. An additional advantage of using PayPal is that, it is free of cost. PayPal does not charge any fee for setting up the account. PayPal supports currencies of huge number of countries. And for this reason, exchange of currency is easy, quick and flawless. Therefore, if you are having a startup or a small business and do not want to invest a lot of your money into setting up an account then, you can assuredly go for PayPal.
Authorize.net is fondly used in Canada and USA. The wholly-owned subsidiary of Visa, incorporates a nominal charge as compared to others like PayPal. It additionally provides the ability of using multiple credit cards for making the payment. If there isn’t ample cash in your single credit card you don’t need to worry. Authorize.net automatically fetches amount from your different credit cards provided by you. Maximum credit cards provided are five for a single order.
Stripe, alike PayPal is stable and secured payment gateway. It is an Open-source & customizable software. Moreover, it takes security very seriously and also provides free advanced protection against fraud. It also accepts the Bitcoin currency which has been in existence since a few years from now and is continuously growing its eminence.
Similar to PayPal, Sage Pay also provides free account establishment. However, one factor that differs Sage Pay from PayPal is the setup duration. For PayPal it takes quarter-hour whereas Sage Pay will take concerning 4-5 weeks (testing time included) for setting up the account. Additionally, the costs of per transaction are very low as compared to other payment gateways. Sage Pay in contrast to others charges fees quarterly and not monthly. Sage Pay and PayPal both have a powerful hold in United Kingdom.
PayU India is very popular and widely used in India. It gives a flawless customer support service and is completely trustworthy, reliable and can be utilized by those who do not wish to go for expensive services. It has been in the league for a quiet few years now and has marked its name in the Indian market.
2Checkout has a large global reach for about 87 currencies and 15 languages. It provides flexible integration. You have to choose from 3 customizable options for checkout. It allows integration with 100+ shopping carts without even the use of coding. Moreover, it provided advanced fraud protection in which more than 300 fraud rules have been applied to each and every transaction giving you the assurance of your sensitive data.
SecurePay is the most flexible and simplest gateway for e-commerce. It is helpful when you already have a merchant account and just want to integrate a payment gateway in your website. It even extends it functionality to mobile payments.
PaySimple is compatible with woocommerce and wordpress plug-ins. It’s very easy to install and configure plus there aren’t any extra plug-ins or scripts required to process the transaction. Presently it’s hold is decreasing as there is a bit account stability issue. Moreover, it’s not advisable to use for international merchants and high volume data.
Skrill being very expensive and less popular in India, is mostly used by International companies trading outside of India. Moreover, it doesn’t accept MarsterCards unless they are registered in UK.
Braintree supports over 100 different currencies across the globe. On the other hand, it comes with a limitation of accepting the payments only through cards- PayPal and Apple Pay. Braintree doesn’t charge any monthly or annual fee. Moreover, it’s very easy to convert from Braintree to any other payment gateway if you wish. Export of your data is very quick and easy to carry out.
So, these are the 10 best payment gateways enlightened. There are more out there in the market. Which one to settle for entirely depends upon your project type, it’s scope, budget, security, confidentiality of customer’s identity and card details, etc.
If you’re on the brink of selecting one among them but aren’t sure or are confused you can reach out to us on F5Buddy.com for any assistance or service for your project(s).
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