Our tech-expert friend, Albert Krav, shared with us a breakdown of the top 10 payment gateways for ecommerce. This guide to the biggest names in processors is a great reference for any online merchant, from the budding retailer exploring online sales options to the seasoned ecommerce pro.
When it comes to selecting the ideal payment gateway for your ecommerce store, it’s important to make the right choice. Finding the right fit for your volume, customer base, and international versus local needs is essential to a successful system. To help you make the right choice, here’s a quick overview of the current top 10 payment gateways worth considering.
A gateway that continues to enjoy popularity worldwide, Paypal’s success is owed largely to the extent of its recognition factor. Paypal offers different options for individuals and businesses, and exacts fees based on the nature of the transaction. As with several payment gateways, funds can take a few days to transfer.
- Allied Wallet
One of the best things about Allied Wallet is its focus on global trade and ecommerce. While many platforms are geared specifically toward a particular region, Allied Wallet has a comprehensive roster of accepted cards and currencies, making it an excellent choice for both local and international ecommerce (a must for businesses that are hoping to expand and reach a larger client base). This gateway earns extra credit for some of the best transaction security in the industry.
- Google Checkout
For Google users, this gateway is a strong addition to the digital company’s suite of services. However, be advised that the fact that Google Checkout is available only in the U.S. may be limiting to some businesses.
- Amazon Payments
As an added service to the extensive Amazon commerce network, Amazon Payments earns points for security and stability. For merchants selling through Amazon, this gateway is a no-brainer as a reliable and trusted source for payment processing. However, this gateway goes hand-in-hand with the Amazon system, and independent merchants are likely to be best served by a less interdependent ecommerce platform.
A strong payment gateway with a good reputation in Europe, Worldpay is a particularly good choice for users located in Great Britain. Currently, this gateway services transactions in 36 countries worldwide, but be advised: this may be affected by economic shifts stemming from Brexit. As a note, sign up fees and monthly service fees apply for this service.
Shopkeep makes a good showing with round-the-clock customer support and no long-term contracts. This payment gateway is often best suited to local businesses, and its focus is primarily on point-of-sale transactions.
- We Pay
A popular online payment gateway, We Pay offers reliable transactions for a range of sales types, including events ticketing, donations, and more. Currently, the company charges 3.5% per transaction, which, depending on the type of business, is typically fielded either by the customer or by the merchant.
- Skrill Moneybookers
Similar to World Pay, Skrill Moneybookers enjoys a strong presence in Europe. Unlike World Pay, this service operates on the Euro and consequently has a larger reach. No monthly fees are a definite bonus, but be sure to confirm that your primary country of operation is on the list before signing up.
- 2 Checkout
This payment gateway is a popular choice for many ecommerce sites. While the absence of set-up fees is a definite plus, relatively high transaction rates (5.5% +) are a deterrent for many merchants, as is the company’s nominal monthly fee.
Enjoying a high BBB rating and good customer support, Cayan offers a variety of ecommerce solutions for merchants. This gateway offers experienced but limited service aspects, and may be a good choice for merchants with a focus on a U.S.-based clientele.
Finding the Perfect Payment Gateway
Ultimately, finding the right payment gateway to suit your business is a matter of preference, customer reach, expense, and a variety of other factors. The best approach is to make a thorough accounting of your needs (and wants) and to do your homework to secure the best services at the best price. Hopefully, the list above will give you a great start to discover the ideal choice for your ecommerce site.
ABOUT ALBERT: Albert Krav is a freelance technology and media writer with a diverse background in business and ecommerce solutions. When he’s not identifying the latest market trend or predicting the next global economic development, he enjoys sailing, well-written political thrillers, and a good scotch. He currently resides in Los Angeles, California.