Discover the top 10 payment gateway providers for your business, including Shopify Payments, Stripe, and PayPal.
Choosing the right payment gateway provider is crucial for any business that wants to accept payments online or in-person. The right provider can help streamline your operations, enhance the customer experience, and even save you money on transaction fees. In this article, we will explore the top payment gateway providers you should consider for your business.
Shopify Payments is the default payment processor for Shopify stores, offering a range of subscription options for businesses of various sizes. Take control of your cash flow with Shopify Payments by tracking your orders and payments all in one place. This integration provides a complete view of your finances, allowing you to accept local currencies and various payment types for a smooth checkout experience.
Shopify's payment processing fees differ depending on your plan. This varies between 2.9% and 2.4%, plus a 30¢ fee per transaction.
Discover Shopify Payments and streamline your ecommerce operations with a unified payment solution.
Stripe is one of the most popular payment gateways because it’s not tied to a specific ecommerce platform. It allows merchants to accept credit card payments and mobile payments, and is easy to integrate with most websites and mobile apps.
Stripe offers a wide variety of features, including the ability to create invoices, set up subscriptions, and process international payments. It also offers a huge selection of APIs that allow you to customize your payment gateway to best suit your needs.
Stripe's extensive features include subscription management, fraud prevention, customizable checkout, and seamless integration options, making it a popular choice for many businesses.
Stripe is a good choice for businesses with their own apps or existing websites wanting to integrate payment processing. Stripe features developer-friendly payment solutions that plug into many different marketplaces and online payment solutions using application program interfaces (APIs).
PayPal distinguishes itself through its unmatched versatility and global recognition. A payment solution that caters to a variety of business requirements, PayPal ensures secure transactions for both online and in-person sales. It’s easy to implement, with compatibility on all major ecommerce platforms, simplifying the process of connecting an online store to a PayPal Business account. This ease extends to financial services too, with applications for business loans, credit cards and debit cards.
PayPal provides payment processing services for e-commerce vendors, auction sites and other commercial entities globally, and allows you to accept credit cards including Amex and Visa. It also offers easy cart integration, plentiful customization options, online invoicing, and facilitates credit card payments over the phone.
PayPal’s payment gateway has no setup fees. The biggest downside is the fact that it’s more expensive than other payment gateways, especially if you’re processing payments at scale.
There’s not much PayPal doesn’t do. It offers in-house payment processing and payment gateway-only options that integrate with third-party shopping carts and payment processors. It’s a leader in developing and accepting payments in innovative ways, including through subsidiary Venmo, QR codes, payment links and buy-now-pay-later financing. It’s tough to find another company that does this much under one roof.
Adyen is best suited for large online businesses, offering a scalable payment gateway that supports omnichannel selling. Adyen is a global payment gateway that allows merchants to process payments in various currencies and countries. It's a good option to consider if subscriptions and international payments are important to you.
Adyen offers advanced fraud detection tools, providing peace of mind for merchants. The platform includes gateway, risk management, and front-end processing services, making it a comprehensive solution for e-commerce companies.
Adyen gives us a platform service where we can gather both credit and PayPal payments. Adyen is a good choice for us as it is a global platform.
Authorize.net is a comprehensive payment gateway solution, ideal for businesses with more complex payment needs. Owned by Visa, it offers a wide range of services including point-of-sale, e-commerce, mobile, and phone payment options. Additionally, it supports billing, e-checks, and credit card readers.
If you need a payment gateway that is compatible with your Visa merchant account, Authorize.net could be an option. The software is owned and operated by Visa, making it easy to sync your payment gateway with your Visa merchant account.
WorldPay is a UK-based payment service provider known for its extensive range of payment services for both online and in-store channels. WorldPay helps online merchants process international payments by connecting with a variety of global banks and partners. This capability makes it an excellent choice for merchants that process international payments, although it is reflected in its transaction fees.
WorldPay has undergone significant changes over the past few years, having been acquired by US rival Vantiv in 2018 and later by US financial services company FIS in 2019.
Square is most widely known for allowing merchants to more easily process card payments. Priding itself on enabling sellers of all kinds to grow their business, Square has expanded its offerings to include online payment services and business lending.
What sets Square apart from most competitors is its extra features. Users can take advantage of customer relationship tools to build customer loyalty and employee management tools that help to track hours worked. It also offers inventory management solutions and advanced reporting to help you best manage your business.
Square is best for businesses that want to take advantage of customer loyalty tools, which help create repeat business.
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GoCardless is a payment gateway designed to make getting paid quick and easy, whether it's for one-off payments, invoices, recurring payments, or subscriptions. It is particularly beneficial for businesses that handle subscription payments and need a reliable way to collect invoice payments automatically.
GoCardless has a strong customer-first approach, with numerous case studies showcasing their customers' successes. Customers love the ease with which they can collect payments, whether these payments are one-off, recurring, domestic, or international.
GoCardless makes it easy for businesses to collect payments. Whether these payments are one-off, recurring, domestic, or international; GoCardless makes it easy.
For larger enterprises, GoCardless offers solutions to reduce churn, lower international barriers, and cut operational costs. Their robust API and partner integrations allow for seamless integration with existing systems, making it a versatile choice for businesses of all sizes.
TrustCommerce is a robust payment gateway that connects merchants to multiple payment processors, including Chase Paymentech, Elavon, and Vantiv. This versatility makes it a strong contender for businesses looking to diversify their payment processing options.
2Checkout is another payment provider that is commonly used by online merchants, not least because as well as one-off purchases, it's easy to set up subscriptions. This makes it especially useful for online businesses selling digital services such as web hosting or web design companies. It's also commonly available as a plugin for major ecommerce platforms, and can process a wide range of global currencies.
2Checkout is known for its responsive customer support. Replied to 98% of negative reviews and typically replies to negative reviews in less than 2 days.
2Checkout is particularly beneficial for:
2Checkout's profile and reviews have been merged, making it easier for customers to find consolidated feedback.
Choosing the right payment gateway provider is a crucial decision for any business, as it directly impacts customer experience and profit margins. By considering factors such as cost, features, and supported payment methods, you can find a solution that best fits your business needs. The providers we've discussed, including Shopify Payments, Stripe, PayPal, Adyen, Authorize.net, and WorldPay, each offer unique advantages tailored to different types of businesses. We hope this guide has provided you with valuable insights to make an informed choice. Remember, the best payment gateway for your business is one that aligns with your specific requirements and budget.
To choose the best payment gateway for your business needs, it’s important to consider cost, features, and supported payment methods. Compare different providers based on these factors to make an informed decision.
The best payment gateways for card-based payments include Shopify Payments, Stripe, PayPal, Adyen, Authorize.net, WorldPay, Square, GoCardless, TrustCommerce, and 2Checkout.
Shopify Payments is best for Shopify merchants as it allows them to process online and in-person payments through a single platform. It also complies with Payment Card Industry Data Security Standard (PCI DSS) to protect customer data.
Payment processing fees can quickly eat into your profit margins. It’s crucial to compare these fees among different payment gateways to choose the most cost-effective option for your business.
Choosing the right payment gateway is critical as it affects your customer experience and your business's profitability. The right gateway will offer a balance of cost, features, and security.
When comparing payment gateways, consider ease of setup, ease of use, global processing capabilities, pricing plans, mobile payment options, security features, supported currencies, and the types of businesses they are best suited for.
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