So, you have finally designed your website, and it’s running in tip top shape. The last and the final thing that you need to do is add a payment gateway. You have plenty of options to choose from as well, but which one would you like to choose?
In our previous article, we had already discussed what factors to consider when selecting a payment gateway for your e-commerce store. But knowing the factors is not enough. Sometimes, users tend to care a lot about the brand. In this article, we will, therefore, talk about the different payment gateways that are available in the market and what you need to know about each of them.
Before that, a recap –
What is a Payment Gateway?
A payment gateway is a powerful tool of the transaction process through which the merchant of a website accepts and receives payment from his/her customers. So, when it comes to integration, you need to ensure that the payment options have been set up in the right manner.
There are different kinds of payment gateways available in the market. And each one of these differs in their features and functionalities. Your choice of selection of a payment gateway depends on your needs. Here are a few things that you can consider when choosing a payment gateway –
- You will be charged a transaction fee whenever a customer proceeds to make a payment using a debit/credit card. What you need to be aware of is how much is charged. While choosing a payment gateway, just make sure that it falls within the budget.
- Does your payment gateway offer multiple currency support? It’s going to be a significant factor if you have plans to expand your business on a global scale.
- Check out whether the payment gateway accepts debit card, credit card and another type of card payment.
- Try to avoid payment gateways that require users to go through a sign-up process.
Okay, so now you know what you want. Here is a list of the best payment gateways for WordPress that you can look up before buying –
Best Payment Gateways Made for WordPress
PayPal comes as a default payment gateway, but it is one of the top choices for any online business. There are many reasons why. In fact, according to Nielson’s Online Buyer Insight, PayPal is one of the driving forces behind a website’s conversion rate. So, what makes PayPal a different payment gateway?
It offers a five payment gateway plan that fits any online selling need. And with every scheme, merchants can accept any PayPal payment.
PayPal can provide customers with the benefit of all three kinds of payment options. These include –
- Payments Standards
- Payments Advanced
- Payments Pro
And each of these payment types rolls both payment card processing and payment gateway into one complete whole. And the transaction charges for every card process is as moderate as 2.9%+ 30 ¢. In these way, PayPal can offer tailored payment services to different companies.
Apart from the all-in-one payment plans, PayPal also offers traditional payment gateways. These include –
- PayFlow Link
- PayFlow Pro
The PayFlow Plans provide merchants with payment gateway services but lets you use a third-party merchant service providing credit card processing. So, if a retailer sells anything that exceeds beyond $5 a month, then he/she can opt for a third party merchant service offering lower processing rates compared to PayPal’s all-in-one plan.
The best thing about PayPal is that it offers merchants with two-fold accounts. So, if you have a website, then you can integrate your shopping cart with both PayPal and other payment gateways such as Authorize.Net, Stripe, etc.
To learn more about PayPal, visit this page.
Stripe offers you a worry-free checkout security that you will not expect from either PayPal or Authorize.Net. And to ensure this, Stripe hosts the checkout process as well. In this way, the payment gateway ensures that all payment information get directed to the gateway’s secure server.
Other than this, Stripe is also best known for its multiple currency support (over 100 currencies to be exact). However, despite all this, Stripe offers the simplest pricing structure for every currency support service.
Merchants are charged a flat rate for every transaction carried, which includes – 2.9% + 30¢ for every transaction. And this excludes any additional fees or add-ons. Even if there is any extra cost, then it is for refund fee, which is a very minimal amount. However, you will get a reimbursement of this sum in case if the decision is in your favor.
Its secure API lets you connect your website with any shopping cart solution. There are 51 shopping carts to choose from and all of which could be easily customized using a programmer. But most important of all, it’s one-click connection ensures that the payment processing need is fulfilled hassle-free.
Learn more about Stripe.
Authorize.Net is another top choice among many big companies like Wells Fargo, Flagship, Chase and others.
There’s a lot of similarities when it comes to the functionality of Authorize.Net and PayPal. However, the significant difference that Authorize.Net has over PayPal is the ease of getting started. That’s because Authorize.Net is a payment gateway that can integrate with any payment processor quickly.
In addition to this, Authorize.Net has also joined the all-in-one bandwagon and can now offer you flat-rate solutions just like PayPal and Stripe. However, unlike Stripe, the payment gateway will charge you a separate fee for its service and setup and does not provide an end-to-end security support just like Stripe and PayPal.
For more information about Authorize.Net, click here.
- Amazon Payments
Amazon Payment solution has been designed to give both merchants and customers a fast and reliable e-commerce experience when it comes to the final part of the business transaction.
The app presents two kinds of features to choose from – Pay with Amazon and Log In and Pay.
Pay with Amazon is a merchant centric solution that simplifies the way retailers have to accept payment online and on mobile. Users can easily access customer information directly from the dealer’s site. This way, retailers do not have to ask customers to fill in all essential data to complete their transaction process once again.
Amazon Payment also boasts of its glaring security system that features a vaunted security setup capable of fraud detection and merchant account protection.
Pay with Amazon has a streamlined check out process that helps to reduce cart abandonment and increases conversion rate. The app also has other features that help to reduce cart abandonment. Like –
It simplifies the shopping experience for customers, whether online or offline. The tool simplifies the entire browsing process, allowing customers to pick up what they want, add them to the shopping cart and then continue to proceed hassle-free.
In addition to this, the other perk of integrating Amazon Payments is that it ensures that your website receives Amazon’s full protection plan.
For more information on Amazon Payments, click here.
PayU is one of the leading payment service solution providing a fast and straightforward process for merchants and buyers. The payment gateway focusses on providing local expertise, innovative products, and unique integration, all the while trying to match up to customer shopping and payment behavior.
Currently, the Pay U app is used by merchants from various countries across the globe namely Latin America, Central and Eastern Europe, Asia, Africa and the Middle East. PayU offers multiple numbers of benefits, which include –
It provides a single integration solution through which retailers can start receiving payments from across all 16 markets, thus reaching a potential number of 2.2 billion customers. Besides that, the payment gateway solution is also said to feature approximately 250+ local payment methods and currency options. So even if a customer does not use a credit card, there are other payment options open for him or her.
The client approves rates are high with PayU. That’s because PayU directly connects you to local acquirers.
The system includes a hosted checkout process that lets users integrate it to their website and start receiving payments quickly.
It is a one-click payment solution that comes with API, payment encryption and Software Development Kit as per user needs.
For more information of PayU, click here.
So, there you are – a list of the relevant payment gateway solutions that merchants are using for their e-commerce business.
You can also decide to configure and implement a combination of payment methods to make it easier for customers to pay using any payment mode. However, when it comes to choosing a payment gateway, the brand names can overwhelm you. Hopefully, this list will give you a good idea as to which one would be more suitable for your e-commerce store.
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