Best 6 Payment Gateways

Looking for payment gateways? A payment gateway is essential for every online store or shopping website. It is the best way to accept payments while doing business online.

Most payment gateways work in the same way. When a consumer makes a payment on a merchant’s website, the payment gateway takes the payment information and securely transmits it to the payment processor or acquiring bank.

After that, the payment processor authorizes the transaction and sends funds from the customer’s bank account to the merchant’s account.

 In addition, the payment gateway provides a user interface via which merchants can monitor and track their payments, analyze transaction statistics and analytics, and issue refunds and charge backs.

Payment gateways enable internet transactions while safeguarding private cardholder information. Customers can thus safely purchase goods from any online store without having to worry about identity theft.

In this article, some of the famous and best getaways will be elaborated and discussed.

PayPal

Paypal is an ecommerce platform designed for online payments. It doesn’t require any financial information. This top rated payment gateway allows doing payments worldwide.

With the help of PayPal, businesses and individuals can send and receive payments online safely and easily.

Since its founding in 1998, it has grown to rank among the most commonly used online payment platforms worldwide, doing more than 10 million transactions every day.

The top features of this gateway includes,

• Providing top-notch security features to protect the money and sensitive data. This is done by using encryption and SSL protocol. Buyers on the other hand, also have protection programs in case if the items are damaged or not received.
• Users are able to make payments from any part of the world. They can even do money transfers or donations through the online website or mobile application.
• Paypal comes with a mobile app that allows users to do everything similarly to their website. 
• Supports multiple payment options where users can choose whatever fits for them.
• Has a dispute resolution process that enables reaching resolutions for both buyers and sellers in case anything happens. 
• Refund policy to request refund in case the buyer is not happy with the purchase.
• Allows payments over 200 countries and regions. Also supports different currencies.

On any retailer’s website or app, it is incredibly simple to purchase or sell using PayPal on a mobile device. PayPal is active in 203 nations and accepts popular credit cards globally.

Stripe

It is a cloud payment gateway platform that is useful in controlling all the transactions from anywhere.

There are a lot of great features provided by stripe which makes the work more easy.

The movements of funds will run smoothly with stripe. The interface of the application is highly secured making sure that there will be no frauds.

The application also integrates with the business ecosystem by providing an API.

• Has a user friendly API that is easy to integrate with e-commerce platforms.
• Offers pre-built payment forms that can be integrated into websites. This makes accepting payments quickly .
• Supports a wide range of payment methods including Google pay and Apple pay. 
• Can do payments by using currencies from over 135 different countries. 
• Provides ability to customize the checkout pages according to the brand.
• Ability to set up recurring payments for customers who are on subscription basis.
• Has advanced fraud protection that uses machine learning to detect fraud transactions.
• Offers a payout feature that allows businesses to do payouts.
• Has a simple and a straightforward refund managing system that makes doing refunds easy.
• Team of 24/7 customer support to help with any payment related issues or to make inquiries.

It is one of the best ways to get and do all the payments. It also increases global sales as it supports more than different currencies. This getaway is a subscribed one but it offers you the best for the price.

Square

Square was founded in 2009 and initially, it was not a payment gateway. It was more like an end-to-end processor for payments.

Businesses can effortlessly and securely take payments thanks to Square.

When it was established, Square transformed the payments sector by giving small companies a convenient and affordable option to take credit card payments.

Its best features include,

• Square enables accepting multiple payment methods.
• Customizable checkout pages and 3D authentication to reduce fraud risks.
• Allows businesses to send customized invoices to customers.
• Direct link to do the payment through the invoice.
• Setup of recurring and subscription payments.
• Virtual terminal that allows businesses to accept over the phone or mail payments.
• Provides detailed transaction information where sellers can also track customer information and behavior.
• Integrates with a number of e-commerce platforms where the workflows can be automated and operations can be streamlined.
• It is a PCI compliant payment gateway and uses advanced encryption and fraud prevention techniques. This will protect the sensitive data.

Due to its simplicity of use, low cost, and wide range of services, Square is a well-liked option for small and medium-sized enterprises.

It keeps coming up with new ideas and broadening its selection of services to make sure that companies can securely accept payments and handle their money well.

If you have a low transaction volume or it keeps fluctuating every month, Square is the best option for you as it only deducts a processing fee only if you earn.

Authorize.net

This payment gateway is primarily designed for e-commerce businesses. It was founded in 1996 and is currently owned by Visa.

Authorized.net offers a wide range of features to its customers such as,

• Allowing businesses to accept payments through credit cards, debit cards, e-checks etc.
• It uses advanced security measures like SSL encryption, fraud detection and tokenization to protect sensitive data from cyber attacks. 
• It provides real-time reporting and analytics to businesses in order to analyze sales data and track transactions. 
• It integrates with several e-commerce platforms, POS systems and shopping carts.
• It offers recurring billing solutions that will automate payments for subscriptions and services.
• 24/7 customer service through calls and e-mails to resolve any issues that may encounter.

For companies of all sizes, Authorize.net provides a dependable and secure payment option.

It gives companies the resources they need to swiftly and effectively take payments while ensuring that all transactions are safe and secure against fraud.

2Checkout

2checkout was founded in 1999 and its initial name was Avagante. It enables businesses to accept payments globally.

This gateway offers around 45 payment options and it is available in more than 200 different countries.

Its platform is designed to be flexible and customizable including features like,

• Allows customers to do payments using a wide range of payment methods including credit and debit cards.
• Provides data security and fraud prevention to make sure the transactions are secure.
• Allows sellers to sell products all over the world by accepting multiple currencies.
• Ability to customize business checkout pages to match the branding.
• Fraud protection tools to help businesses detect fraud transactions.
• Manage customer subscriptions, view payment history and manage the refunds.
• Provide business with the insights of sales and revenue.
• Takes care of global tax and compliance.

Overall, 2checkout platform provides businesses with all the necessary payment processing solutions which will make the online payments simple and helps in increasing the revenue by expanding all the possible payment options.

Braintree

Braintree is a payment gateway that was founded in 2007 and then owned by Paypal from 2013. This is known for its solutions which are developer friendly and giving businesses ultimate flexibility in integrating payment processing in the webpages.

There are number of many other features for merchants to make it easy to accept payments online,

• Supports different payment methods and gives the customers a wide range of options to choose from.
• Follows highest standards to ensure secure transactions and offers advanced fraud protection features.
• Straightforward methods of creating accounts and making the businesses start accepting immediate payments.
• Customizable checkout tools to match the brand and the needs.
• Easy set up of recurring and subscriptions to avoid manual billing hassel.
• Transparent pricing with no hidden fees makes it easy to calculate costs and budget.
• Supports transactions in over 130 currencies and operates in over 44 countries where the businesses can expand globally.

Braintree is an excellent payment gateway for businesses which are looking to accept payments via online and mobile apps. The secure and streamlined payment process allows accepting payments globally.

In summary, a payment gateway is a crucial tool for companies who want to take payments online. Customers can use a variety of payment options to complete transactions in a secure and effective manner.

Additionally, payment gateways offer a range of services and functionalities, including fraud prevention, recurring invoicing, and reporting, that aid companies in efficiently managing their online transactions.

It is crucial to take into account a payment gateway’s costs, security, customer service, and compatibility with your website or platform before making your decision.

In the end, an effective payment gateway may aid in boosting revenues, enhancing client pleasure, and streamlining your online payment procedures.

Contact Tectera who provide web design in Toronto to implement Payment gateways.