If you’re here, what you’re looking for is a safe and easy way for your customers to make online payment. Since all payment processors are not created equal, it’s a good idea to know the ins and outs of the most popular online payment solutions from start to end. This way, you can avoid pitfalls and make the most effective choice to protect your money and grow your business.
So, here’s our list of the top 10 online payment gateways that you can rely on for a safe transaction.
Even though this list is not based on any rankings, PayPal makes the top of the list. This is because it’s huge. PayPal has over 305 million users around the globe. In the 3rd and 4rth quarter of 2019, PayPal gained around 9.3 million users.
The popularity of PayPal makes it a trustworthy platform for online payment. However, if that’s not enough, there’s more.
- Available in over 200 counties
- Transactions can be made in 56 currencies
- PayPal is a no-cost online payment solution.
- You can connect your PayPal account to multiple credit and debit cards.
- Even if your PayPal account balance is nil, you can make online payment by connecting your user ID with your bank account.
- It is safe as you make purchases without divulging personal information.
Stripe is not very different from PayPal in terms of usability. Features like no membership, cost-free and safety are the same as PayPal. But there’s an additional catch in Stripe which marketers dig. Stripe allows you to have a customized online payment system. There are Stripe-special tools that enable your company to have a personalized payment platform.
Some of these features are:
- An SQL based business intelligence
- Creating physical and virtual cards for employee expenses
- Stripe Radar- an advanced tool used for fraud-management
If your company is big with heavy transactions, custom-built online payment solutions might be best for you.
If you use Amazon Pay, chances are that you’ll be able to effectively reach out to Amazon users who can easily make such online payment by simply logging into their Amazon accounts. There are other takeaways in case you use Amazon Pay such as:
- You can set it up very easily with your site.
- Amazon Pay is mobile-friendly and has voice optimization for online payment options.
- Users will be able to access numerous websites with one Amazon account.
- You will be able to charge your customers a recurring transaction fee like a membership amount or so.
- Amazon Pay makes it easier for marketers to make refunds.
If you’re involved with heavy transactions, your top priority should be privacy and security of your customers. If this is the case, you can choose X-Payments to solve your online payment issues. X-Payments is kind of the highest safety standard you can reach in terms of online payment as it’s PCI DSS (Payment Card Industry Data Security Standard) certified.
Other advantages of using X-Payments are:
- It’s the safest facility to store your credit card details.
- Customers can remain in your online store and complete their transaction during checkout. So, the process is a lot simpler.
- It can process over 40 credit cards.
To avail X-Payments, you need to pay a monthly sum of $42.46 for 10,000 transactions processed annually.
This is majorly for mobile-users. It’s a subsection of PayPal therefore it’s beneficial as it can access the millions of customers who rely on PayPal as their online payment pal.
Now, moving on to the pros:
- Big shot digital companies like Uber and Airbnb trust Braintree for online payments.
- It includes special features to detect fraud accounts.
- Customers can integrate it with GPay, Venmo, Apple Pay and major debit and credit cards.
You must be wondering that if PayPal owns Braintree then which one to go with. For this, we’ve listed out a few points of distinction that’ll help you choose the right one depending on your kind of business.
- PayPal is easy to set up but it’s easy to get deactivated or flagged as well. Braintree takes longer to put up but once you have an account in place, you can rely on it for a long time.
- Braintree makes it easier to make large foreign transactions.
- Both cater to different businesses. Go through their service products separately to make a decision.
Due is a single destination which has the solution to all your online payment arenas.
- It can deal with all your invoices.
- You can keep a track of all your payment-related information in one place
- You can benefit from lower rates than your credit cards.
With this online payment solution, you can make recurring payments really easy for your customers. If your business deals with a lot of recurring payments, GoCardless is a suitable option for you. You can track the payment status of your customers using this and automatically collect recurring dues.
In case of GoCardless, you can choose to keep a free standard subscription or have a paid one with a more personalised experience.
If you’re involved with business in Australia, you can go for this online payment solution. SecurePay has the support of major Australian Banks and it offers:
- Smooth integration with other shopping carts
- Seamless online payment
- And a detailed report on each payment.
Much like PayPal, Adyen is also available in around 200 different countries and is trusted by tech giants like Microsoft and Spotify. With Adyen you can also avail the additional facility of over 250 local payment methods.
Adyen has also won awards for its anti-fraud and security solutions like the Nora Solution Partner Excellence Awards, 2019.
This online payment solution is a popular option among businesses because of its efficient risk-management facilities. CyberSource includes over 300 fraud-detectors to ensure the safety of your customers’ financial information. Used in over 190 countries, this online payment platform is a preferred option for over 450,000 businesses around the world.
These are the top online payment solutions you can opt to have a seamless experience. While making a choice for yourself, remember to sketch out your needs and your business style. This is crucial in going for the correct online payment solution suitable to your brand.