Top 7+ Best Ecommerce Payment Gateways for Seamless Online Transactions

In the era of eCommerce, payment gateways have become indispensable things for online transactions. If you are launching an online store, you don’t need to be a payment gateway expert, but it’s worth understanding what is the right payment gateway for you. 

Join us as we unpack what a payment gateway is, how to choose which payment gateway service is well-suited for your business, and a list of top best ecommerce payment gateways you might love. 

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What is a payment gateway?

A payment gateway is a digital service that enables online payment for both customers and businesses after a purchase is made. It is a bridge that connects the customer’s card and your business bank account, facilitating secure and encrypted transactions, even when you are making purchases online or in-store.  

Top 7 Best eCommerce Payment Gateways

#1 PayPal

PayPal is the best payment gateway for ecommerce websites which is used by over 220 million people worldwide. It does not provide customers with an easy way to check out online but also offers additional customization features, allowing the merchant to make a few changes to the payment process.

Generally, small businesses would love PayPal because it is free software and easy to set up. More than credit cards, PayPal also allows customers to make payments via PayPal accounts, Venmo, and even cryptocurrencies. The best feature of this payment gateway – Instant Credit Options, gives the customers a convenient payment option: Buy Now, Pay Later for eligible purchases. As a result, customers can split their bill into different installments with zero interest. 

However, PayPal is not a perfect payment gateway. Many users complain that the conversion fee is too high when it comes to international transactions and that withdrawing funds takes time. Still, PayPal is one of the most popular ecommerce payment gateways in the world.

#2 Square

Designed in 2009, Square is a POS and a major payment processor in the US, the UK, Canada, Ireland, Australia, and Japan, and accepts multiple currencies. Square eases up the checkout process, making online transactions processed faster. 

Using Square, you have a comprehensive set of useful tools for a flexible payment process. Creating an account with Square takes minutes and includes no hidden charges, so customers don’t have to worry about surprise bills. Square is also known for its 24/7 robust security using live monitoring programs. Thus, the system will notify the users if they find anything suspicious, prevent fraud, and manage payment disputes.

#3 Shopify Payments

Shopify Payments is the default payment processor. If you already have a Shopify store, this is your best choice for payment as this payment processor automatically integrates with your store data and analytics.

While other portals charge varying fees for each transaction, zero transaction fee is one of the fantastic bonuses of Shopify Payment that convinces merchants and consumers to use it. On top of its benefits, Shopify Payments offers a built-in fraud analysis tool that monitors each transaction to prevent and spot fraud indicators promptly, such as the number of payment attempts and the accuracy of credit card information.

#4 Stripe

Shopify Payment Vs Stripe is the two best ecommerce payment processors  that are often compared due to their similar characteristics. Like Shopify Payment, Stripe serves mobile eCommerce, SaaS, and platform-based payments. One of the biggest strengths of Stripe is the ability to handle large volumes of transactions. Thus, this is an ideal option for online retailers, subscription businesses, and marketplaces. 

Stripe is also well-known for its high uptime and security, ensuring businesses can process payments without interruptions or security breaches. Specifically, it is equipped with Radar –  a machine-learning fraud system, that allows users to add multilayer security and adapts to your business’s needs. 

#5 Apple Pay

Apple Pay is a digital payment service that was created by the company. Unlike these above payment gateways, Apple Pay is only available for Apple devices, so if you do not use an Ipad or iPhone, this payment gateway is not for you.   

Security is the biggest benefit of Apple Pay. No credit card number, no bank account number, it uses a number that is directly linked to the device and generates a transaction code. Therefore, it ensures the privacy and protection of users’ financial information. Moreover, Apple Pay offers a more secure payment method than PINs or passwords which is using your unique fingerprint access and facial recognition. With this multi-layer security system, your information is now under the perfect protection.

Apple Pay has a robust security system, but do not forget that it is free. Users do not have to pay any transaction fees, regardless of the amount involved. Therefore, Apple Pay works as a cost-effective choice for both businesses and customers.

#6 is a Visa-owned payment solution that provides core features such as advanced fraud detection, customer information management, and recurring payment.   

Transaction security is given top priority by Therefore, it utilizes industry-standard encryption and tokenization technology to protect sensitive payment information from the hack or thieving, reducing the risk of fraud. Complying with the PCI DSS (Payment Card Industry Data Security Standard), these payment gateways commit to the safety of both merchants and customers. Plus, its API function provides users with the ability to customize transactions based on their habits and preferred payment methods for maximum convenience. 

#7 Amazon Pay

Locking the best ecommerce payment gateways list is Amazon Pay – which actually might be a one-stop payment solution. Amazon Pay allows businesses to pay flat-rate transaction fees with no start up or monthly fees. To customers, it commits to offering the maximum security and resolving all issues related to purchases through non-Amazon merchants with its A-to-Z Guarantee. 

Features of Amazon Pay are specially made for payments made by speech (via Alexa devices), smartphones, and the Internet. Other tools including analytics reporting, recurring payments, pre-orders, and fraud prevention are integrated to bring users the highest satisfaction and convenience.

What elements identify the best eCommerce Payment Gateways? 

There is no perfect payment gateway for ecommerce website, but it is possible to find the one that best fits your specific needs for the business. Here are some elements of an ideal payment gateway that you should look for:

  • Security: This is the priority when it comes to processing payments. Verify if your payment gateway complies with PCI standards. It means all businesses must follow the security standard and prevent leaking sensitive information. 
  • Integrations and Customizations: Your payment gateway should be able to integrate with any virtual software for business and shopping carts to automate the processing of payment and accounting. Customization options such as adding a logo or changing the color scheme of the payment page would be appreciated to enhance customer experience and create your uniqueness.
  • Payment methods: Another thing you should consider is what payment methods are supported. Credit cards are the most popular payment method but nothing can make sure that everyone prefers credit cards. PayPal, Venmo, ACH, e-check, or pay by invoice are some alternatives to credit cards that your customer may look for. 
  • International capabilities: When it comes to e-commerce business, there is no limitation to the market. E-commerce has now become more global, and you have a huge potential to grow bigger and sell to customers internationally. That means your payment gateway should be used widely by many countries and accept multiple currencies.  
  • On-site or Off-site Transactions: If you want to process transactions on your website, you’ll need to choose a gateway that offers an on-site payment solution. If you don’t mind redirecting customers to a separate page to enter their credit card information, both on-site and off-site gateway can be right for you. 

The Final Words

Regardless of the channel you use for your online business, choosing the best eCommerce payment gateways is crucial. Make sure that your payment gateway supports multiple payment methods, fast setup, low transaction fees, and scalability with your business. By choosing the right gateways, your store will grow faster and faster. 

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