The most famous and best online payment gateways and platforms:
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| The most famous and best online payment platforms |
Payment gateways allow both physical and online sellers to offer their customers secure ways to pay by credit card or digital wallet.
As technology opens up new payment options and markets, payment gateways are essential to help businesses grow.
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With the proliferation of digital payment systems such as PayPal, customers are driving the demand for safe and hassle-free purchase.
1. Google Wallet:
Google's online payment service through which you can make money transfers and make payments as well. Google recently announced that it will offer a physical card linked to users' accounts so they can use Google Wallet in retail stores.
Google Wallet is only available in the US, where you can make online payments using your mobile phone. What the app does is save the credit and debit cards that you have to do as an intermediary between who pays and who receives the money. What is the difference with other payment platforms, because very few of them, because in this case your information (ie your cards) will be in the cloud safely and they will not charge you any commission for using it.
Many may think that Google Wallet is similar to Google Pay, but the truth is that it is not. They are actually two completely different applications with different uses.
In this case, Google Wallet is actually, as the name suggests, a wallet, which means you can get credit for sending or receiving money from friends and family.
But in the case of Google Pay, in fact this application is used to pay in stores, not in everything, but in those where such payments are available through the application.
Of course, in order to use it, you will need to be registered with Google with the account of this company.
2. Paypal:
The online payment platform par excellence, one of the most used accounts around the world with more than 137 million active accounts in 193 countries and in 26 different currencies. With PayPal, it is very easy to buy online without leaving home, it even has its own mobile app to manage all payments from the phone.
Although many payment platforms have emerged, PayPal is still one of the most used. Of course, there are some drawbacks (and reasons why many have switched to other platforms). As long as the payment is made between friends, and in the same country, there is no commission, but when it comes to paying for a purchase or sending money abroad, there is a commission that you sometimes have to pay both the sender and the receiver.
For this reason, many prefer to use another method.
When it came out, it was completely new to be able to pay without having to give out your bank, credit or debit card details, but just with your email is more than enough to manage the payment or send money. Therefore, many use it.
Today he also has a mobile payment management application and there are many online e-commerce stores for which among their payment methods is PayPal (although they often make customer support a commission for making a payment).
Another great benefit of PayPal is, without a doubt, the customer service support. Which is that if the purchased product is not received, there is an accident, or this is not what was expected, they can manage a refund. It takes some time, but as long as you are right, they will end up giving you back what you paid.
4. Doula:
It is one of the direct competitors of PayPal that allows users to transfer money via email, mobile phone, Facebook, LinkedIn or Twitter. What makes this service so attractive is that there are no fees for transfers under $10, while for transfers above this number, the fee is only $0.25.
One of the most popular online payment platform out there today is Dwolla, a competitor that follows, once again, the foundation of Paypal. And in this case, this service stands out from the rest in the fact that it is not necessary to use credit cards, which is a key component of everything we talked to you before.
She was born in 2008 in Des Moines, Iowa, in the United States, although it was launched in 2010.
What do you use if you don't have credit cards? Well, the bank account. The goal is not to rely on a credit card to work online, but to have a tool that allows instant payment even if you do not have one. Which, as you know, if you pay by bank transfer, until the funds are received, they will not start preparing the order.
The only problem you can see with Dwolla is that many online businesses don't know about it or use it as a payment method, so sometimes it can be difficult to use.
5. Autotize.Net:
Online payment platform since 1996 and today there are more than 375,000 thousand merchants who charge over $88 million in secure annual transactions using credit cards and electronic checks.
Authorize.Net has two different versions, on the one hand the free version, on the other hand the paid version, which can be purchased from $25 per month. Among the features that should be highlighted in this payment platform are online payment processing, the ability to pay with a credit card, as well as through electronic checks and even through mobile payments.
In addition, it provides a visual display of monthly payments and money transfers and allows you to identify and manage transactions to determine if there are any that may be fraudulent or suspicious.
It has, as in other platforms, a customer service 24 hours a day, 365 days a year. It mainly focuses on businesses, e-commerce stores, etc. Because, among individuals, it is not as well known as the others.
Of course, there is a problem that may or may not make you choose to use it. Among its devices are PC, Apple and Android, but it is only available in the US, Canada, UK, Australia, China and India. In addition, it is a platform that is only available in English. This really limits its functionality a lot which is why it is not so well known in Spain, or in Europe in general (despite being one of the oldest).
In addition to the features listed below, both of the Authorize.Net plans offer the option to add an account updater for recurring payments and the ability to accept electronic checks for additional costs. There are no setup fees for either plan.
Online payment gateways:
What is the payment gateway:
In essence, a payment gateway is software that encrypts a customer's credit card information and sends it to the issuing bank for approval when making a purchase online or in a store. This transaction determines whether the customer's purchase is approved or rejected.
However, the payment gateway is not a merchant account. A merchant account is what a business or merchant needs to be able to accept credit card or digital wallet payments (such as PayPal). Although some payment gateway providers also offer a merchant account as part of their services, most payment gateways are standalone products.
Here are some of the popular payment gateways:
Square Gate:
Founded in 2009 by Twitter co-founder Jack Dorsey, Square opened the door to retailers by providing an online payment solution that can be used on smart devices instead of bulky and expensive point-of-sale machines. We chose it as best for traditional businesses because it allows users to accept both in-person and online payments without setup and start-up costs and includes a free mobile card reader.
Although Square accepts all major credit cards as well as other payment types such as Apple Pay and Google Pay, it does not support PayPal, one of its main competitors. However, it can process ACH payments or electronic checks and allows users to accept payments by website, invoice, or by phone.
One of Square's best features is its easy setup. Users can download the software for free on any iOS or Android device and receive payments with a mobile credit card reader plugin, Square offers for free.
Merchants can accept credit card payments using just a smartphone or tablet, making it an ideal choice for food carts, farmers markets, craft kiosks, and other mobile merchants.
- Free POS App
- Free magstripe reader
- 2.6% + 0.10 USD (or equivalent in local currency) personal transaction or e-commerce transaction
- 2.9% + $0.30 Invoice Transactions
- 3.5% + $0.15 Manual Entry or Card Entry on File
Braintree Gate
Braintree was originally launched as an online payment platform in 2010, PayPal acquired Braintree in 2013 and now supports in-store as well as online payments. We chose it as the best for startups because it is an easy-to-use and affordable platform that accepts all major payment types.
What Braintree lacks in new and exciting features, it makes up for in simplicity. It features an elegant interface that creates a seamless payment experience on any website and integrates with most major e-commerce platforms, invoicing software, analytics apps, and more.
As a subsidiary of PayPal, Braintree offers a merchant service account and accepts all major credit cards, digital wallets, ACH, Venmo, and PayPal deposits in over 130 currencies. Additional features include recurring billing, a customer information manager, automatic account updaters, reporting tools, data encryption, and fraud prevention tools.
Braintree also offers in-store payments with a mobile app and PayPal Here card reader, customizable payment flows, customer loyalty and rewards, and the ability to securely share sensitive customer and payment data with trusted partners using the Braintree Vault.
- 2.9% + $0.30 per transaction
- Merchant account and payment gateway
- Advanced Fraud Protection
- Data encryption via Braintree Vault
- Phone and email support
- Help with data migration
- All regional payment methods available
- Report
- Recurring billing
- Third Party Integration
- Integration support
- Exchange plus pricing options
WePay portal:
WePay was originally created in 2008 as a peer-to-peer mass payment platform, offering an integrated merchant account through Chase Merchant Services with a payment gateway. We chose it as best for multiple channels because it makes it easier for merchants to handle complex payment requests across a variety of online platforms.
As with most payment gateways, WePay accepts payments from all major credit cards, Chase Pay and ACH payments and can handle complex payment requests, including multiple payers and crowdfunding campaigns. Merchants can set it up with just an email address and start accepting payments right away.
What makes WePay particularly useful for omnichannel marketing is its customization features. Merchants can create customizable payment flows that support online and in-person payments and refunds. Developers can use WePay APIs to create anything from simple payment links to take advantage of Chase Merchant Services features for depositing and reporting transactions.
Although WePay does not offer rates on its site, third-party research shows that the company offers competitive rates of 2.9% plus $0.30 per transaction and processes ACH payments for 1% plus $0.30 per transaction.
2 Checkout portal:
2Checkout was created in 2006 to allow businesses to accept online and mobile payments from buyers around the world, and currently serves more than 20,000 customers worldwide. We chose it as an international bestseller because it offers local buying experiences to customers in more than 200 countries and regions and supports nearly 100 currencies.
2Checkout offers a payment gateway called 2Sell that accepts all major credit cards and payments, including MasterCard, Visa, American Express, JCB, and PayPal. It also supports payments in about 30 languages and 100 different currencies. Users can host their own checkout page, set recurring transactions, compile payment history reports, and integrate the platform with many different e-commerce platforms, shopping carts, and invoicing systems.
2Checkout also allows merchants to sell services, digital products, physical products, subscriptions, and features an account updater to keep customer information up to date. It also offers global customers local buying experiences, mobile-friendly coupons and discounts, and comes with shopping cart templates and tools to help boost conversions. 2Checkout also provides users with a commerce dashboard with instant insights into sales and other customer metrics.
- 3.5% + $0.35 per transaction
- Sell instantly in 200 countries/regions
- Quickly integrate with any of over 120 vehicles
- Raise the level of global growth
- Sell any type of product
- Access to recurring billing
How we choose the best payment gateways:
We looked at over a dozen payment portals for this review. At the top of our list, there were providers that provide support for most types of payment. We balanced these features with the cost as not every company needs to offer every type of payment option to their customers.
Integrations were also important in our review, and we made sure to choose software that works easily with major e-commerce platforms and points of sale. Finally, since the benefits a merchant payment gateway provides can be negated if a customer does not feel secure sharing their payment information, we've made sure to choose gateways with solid reputations and security features. As customers search for easier ways to pay and businesses look for easier ways to sell, payment gateways will provide the security and opportunities that they both need.