If you are deciding on a new eCommerce development for you business, a very important step is to choose the right payment gateway provider that will fit your goals.
There are several eCommerce payment gateway providers that you can use, however, not all will fit your requirements.
In this post we discuss how online payments work and what payment gateway options are available to you.
What is a Payment Gateway?
Basically, a payment gateway is a payment solution that processes payments for a business trading on the internet. As a business looking to receive payments you will need a payment gateway on your website connected to a merchant account. This will allow you to take card payments on your website through a payment gateway and a merchant account to receive the funds.
Some payment providers offer both a payment gateway and a merchant account solution, like PayPal and Stripe, while others require that you have separate payment gateways and merchant accounts.
For an example of how a payment gateway works, visit ProTiling Supplies to see how a payment can be made.
Top Payment Gateway Providers To Consider
Stripe is one of the most popular online payment gateways and probably one of the most user friendly from both a business and a developer point of view.
There are many benefits to using Stripe as your payment gateway including:
- Buyers are not directed away from your website to make a payment
- You are only charged a fee based on your transactions
- No monthly subscription fees
- Safe and secure payments
- Quick set up for businesses
- API is easy to work with
- Customers pay with any credit card
- Money is easily transferred to your bank account
Realex is another leading payment gateway provider and is used in a large number of eCommerce websites worldwide.
Benefits of using Realex:
- Excellent fraud prevention solutions
- PCI compliance validation
- Lots of integration solutions
PayPal is one of the most adopted payment solutions used worldwide. It is one of the most widely accepted payment gateways on the internet, however API integrations can cause problems with purchase completions.
Benefits of PayPal:
- Widely trusted by customers worldwide
- Accepts credit card and debit card payments
- Only pay after making a sale, no set up fees
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WorldPay is a familiar name in the payment gateway industry and is used by over 300,000 online businesses in the UK. The WorldPay Total solution offers end to end payment processing and integrating payment.
Benefits of WorldPay:
- No fee for joining
- Fraud protection for payments
- Good customer support
Sage is one of the most trusted brands offering a range of software solutions for businesses from CRMs to payroll software to payment solutions; SagePay. SagePay which was originally named Protx was founded in 2001, is now one of the oldest payment providers in the world.
Benefits of SagePay:
- Customers and businesses trust the brand
- Bespoke pricing models based on your requirements
- Fraud screening tools
- Lots of integration options
If you require a consultation on the best payment solutions for your business, book a consultation today.