What is the Payment Gateway?

The payment gateway is a third-party application that gives an easy-to-use tool for processing payments from sales. Well, when third-party tools are included, you want to assess the distinctive features of each and make a choice based on the requirements and capabilities of your site. Here are five essential factors you should consider while looking for a payment gateway.

  1. Security
  2. Cost
  3. Compatibility
  4. Location

Popular Payment Gateway’s

1. Stripe

  • Stripe is most famous and leading online payment platform that was built by industry specialists who have established connections with the broader payments industry: from demanded partners—local banks, major card networks, the PCI Council-to the unexpected—the W3C, internet browsers, and industry associations.
  • It is profoundly developer-centric, enables you to rapidly build production-ready integrations with modern tools, from React components to real-time webhooks. Using Stripe’s developer platform means lighter support for legacy systems and more focus on core customer and product experiences.
  • Likewise, it concocts charges and shows prices in a customer’s chosen currency to improve sales and help customers bypass conversion costs. Signing up for the payment gateway is hassle-free, secure and fast.

 

2. Paypal Payments Pro

  • Payments Pro is PayPal’s successful endeavor to add a payment processing service for eCommerce users that doesn’t require a PayPal account. The list of our Payment Gateway Providers is fully applied to streamlining business transactions, and backed by today’s strongest and best-reputed payment gateway. Thus, Payments Pro is absolutely the right choice when choosing whom to trust your money transfers.
  • Paypal supports a complete end to end payments from credit cards ( Master, Discover, Visa, American Express, and PayPal credit payments, and reckon with an open API infrastructure to link effortlessly to any shopping cart/marketplace solution. It also provides phone-based credit card payments and provides users a handy invoicing kit to accredit customers right away. At the same time, it is flexible enough to be used by small businesses and market leaders and has over 190 million customer accounts.
  • As expected, Payments Pro is also a great model of secure checkout, be it that you’re transmitting money from your local or mobile device. It gives a variety of options for users to simplify PCI compliance and adheres to all leading encryption standards to keep payment credentials secured. As of now, It is the most popular international payment gateway accepting 26 leading currencies, and readily available to use on over 200 markets.

 

3. Amazon Pay

Amazon Pay

  • Amazon also offers a protected and streamlined payment service for its clients, with a reputation similar to the PayPal Payments Pro. The service is available for both merchants and shoppers to help their online purchases, as it works with the information you’ve already inserted in your Amazon account to complete check-ins and check-outs.
  • The customers are identified with a single login and enabled to make a transaction, a possibility that is also accessible on mobile devices. Amazon’s A-to-z Guarantee makes these transactions 100% secure and there are no hidden charges. It only charges their customers or clients a fixed percentage of the amount they are transferring.
  • Within Amazon Payments package, merchants can find a complete e-commerce suite to promote, sell, manage products and orders. In such a way, Amazon Payments advances its marketplace operations and transforms them into solid vendors with a high reputation. To support customers from across the world, Amazon Payments functions in multiple languages and supports all leading currencies.

 

4. We Pay

We Pay

  • WePay is a unified payment gateway created to promote the distinct omnichannel, POS and web-based requirements of software platforms. Acquired by JP Morgan Chase in 2017. Designed to provide quick, seamless, and secure processing, we pay provides the complete flexibility to optimize and customize payment solutions as per business requirement. For example, it provides personalization services to their online platform using the business brand and pricing structure to allow native processing and promote products and services
  • WePay’s immediate referral functionality gives the ability for your clients to get paid without any struggle through Chase merchant accounts. Likewise, it provides complete authority in aiding payment for their users with great support for multiple payment schemes that include ACH, debit, and credit payments, and also provides choice to choose either weekly, monthly or daily payouts.

 

5. Authorize.net

Authorize.net

  • Authorize.Net is most demanded payment gateway solution in retail and service environments with the flexibility that works like their order management methods. It was developed to assist merchants to sell more in local and online stores. Being one of the Visa Subsidiary since 2010 Authorize.Net gained the assurance of small and medium businesses by providing an affordable and secure payment solution that includes a free mobile point of sale (POS) app for Android/iOS. 24/7 is the most appreciable thing about this platform, the knowledgeable professionals will assist you when you’re building custom connections.
  • Apart from major credit cards, it also allows its users to make payments using PayPal, Apple Pay, and Visa Checkout, and it can integrate with Quickbooks. For developers, it provides an application programming interface (API) and software development kits(SDK) for Android and iOS. Its Virtual Terminal and Invoice components can process standard payments. It also provides the plugin for the integration and recurring billing with Authorize.Net, and technical support is for merchants.

 

Conclusion

There are multiple other factors that influence the payment gateway selection for business, but the business has to look into the key factors that are fulfilled by any payment gateway.

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