A payment gateway is provided by an e-commerce service provider that approves credit cards or direct payment processing for online businesses or online retailers. A payment gateway enables a payment transaction between a payment portal (could be a website or mobile phone) and a payment processor or receiving bank through the transfer of information. Payment is usually provided by a bank to its customers but can also be granted by a specialized financial service as a payment service provider. Below is a list of some of the best payment gateways you should try.

Best 8 Payment Gateways

  1. PayPal – Best payment gateway for everyone who pays online
  2. Stripe – Best payment gateway for online and in-person retailers, subscription businesses, and software platform
  3. 2Checkout.com – Best payment gateway that makes global online sales easier
  4. Braintree (PayPal service) – Best payment gateway for reaching more buyers and driving higher conversion
  5. Square – Best payment gateway, a solution for every business type and size
  6. Skrill – Best payment gateway that secures online payment for your business
  7. WorldPay – Best payment gateway that makes online payment simpler
  8. Payoneer – Best payment gateway for digital commerce

1. PayPal – Best payment gateway for everyone who pays online

PRICING: PayPal charges from 1.90% to 3.49% + a fixed fee on each transaction

PayPal is an electronic commerce payments platform built to help people and their businesses to send and receive payments without hassle and without having to provide their financial details. PayPal allows you to send or receive payments across the world via your email address only.

KEY FEATURES:

  • PCI compliant and tracking
  • Recurring billing
  • Buyer authentication
  • Fraud protection

REASONS TO USE:

  • Invoicing
  • Online and in-person payment
  • Security
  • Tax computations
  • Integration

REASONS TO AVOID:

  • Poor customer support
  • High chargeback fees

2. Stripe – Best payment gateway for online and in-person retailers, subscription businesses, and software platforms

PRICING: 2.9% + 30¢ per successful card charge

Stripe is a payment infrastructure for the internet. A stripe is a technology-first approach to payments and finance. With Stripe’s software and application programming interface, you can receive payments, send payouts and manage business online. Stripe is the backbone of internet business, it allows transferring money as easy, borderless, and programmable as the rest of the internet. Stripes help companies defeat fraud, send invoices, provides virtual and physical cards, receive financing and manage business spend.

KEY FEATURES:

  • Third-party integrations
  • Invoicing
  • In-person payments
  • Customer interface
  • Embeddable check out

REASONS TO USE:

  • Financial reporting
  • Handles dispute
  • Universality
  • Payment options

REASONS TO AVOID:

  • Geo limitations

3. 2Checkout – Best payment gateway that makes global online sales easier

PRICING: 2SELL – 3.5% + $0.35 per successful sale. 2SUBSCRIBE – 4.5% + $0.45 per successful sale. 2MONETIZE – 6.0% + $0.60 per successful sale

2Checkout is an all-in-one monetization platform that maximizes your revenues and makes global online sales easier. 2Checkout can help you sort the complexities of digital commerce globally whether you are tapping into international markets, looking to increase changeover rates, or operating a subscription-based business. With 2Checkout, you can go global, accelerate time to market and grow recurring revenues.

KEY FEATURES:

  • Several payment methods
  • E-commerce integration
  • Recurring billing
  • Multi-currency

REASONS TO USE:

  • Updates account
  • Customized subscription account
  • Secured transaction
  • Risk management and compliance

REASONS TO AVOID:

  • Bad customer support
  • Sudden account suspensions without reasons

>>More: Is Google Pay Safe? How Legit & Reliable Is The Payment Service | Is Alipay Safe? How Legit & Reliable Is The Payment Service? | Is Apple Pay Safe? Is The Payment Service Really Worth It? |

4. Braintree (PayPal service) – Best payment gateway for reaching more buyers and driving higher conversion

PRICING: 2.59% + $0.49 per transaction for c

Cards and Digital Wallets, 3.49% + $0.49 per transaction for Venmo and 0.75% per transaction for ACH Direct Debit

Braintree is a PayPal service and their inventive payments technology, scalable solutions, and legendary white-glove support are backed by one of the world’s largest and most trusted fintech. You can put Braintree’s extensive knowledge, deep relationships with issuers, financial institutions, and online payments experience to work for you. Braintree drives higher conversion and improves sales and loyalty with a modernized, optimized payments experience.

KEY FEATURES:

  • In-store payments
  • Global scale
  • Third-party integrations
  • Reporting

REASONS TO USE:

  • Payment method
  • Data security
  • Payouts
  • White-glove support

REASONS TO AVOID:

  • Prolonged setup time for accounts
  • Reports of seized funds and closed accounts

5. Square – Best payment gateway, a solution for every business type and size

PRICING: 2.6% + 10¢ for Terminal API and reader SDK transactions, 1% on orders processed by external entities, 2.9% + 30¢ for In-app Payments SDK Transactions, and 2.9% + 30¢ for Online Payments APIs transactions

Square payment gateway is a flexible business solution that works for you. It is a tool that connects every side of your business. Square helps you access and manage your money as you make it with business banking accounts and services from Square. It organizes your team with scheduling, time cards, and full-service payroll all in one place.

KEY FEATURES:

  • Dispute management
  • Fraud prevention
  • System integrations
  • APIs payment
  • Inventory management

REASONS TO USE:

  • Advanced reporting
  • Tax reporting
  • Team management
  • Customer directory
  • App marketplace

REASONS TO AVOID:

  • Increased payments for large businesses
  • Account stability issues

6. Skrill – Best payment gateway that secures online payment for your business.l

PRICING: Skrill does not provide pricing information for its product or service. However, you can contact Skrill to obtain the recent pricing

Skrill offers fast, instant, and secure optimized payment solutions suitable for all businesses. You can enable several local payment methods including cards, digital wallets, instant bank transfers, and other alternative payment methods with a simple, single integration. Skrill’s digital wallet allows customers to pay quickly with an email address and password.

KEY FEATURES:

  • Quick integration
  • Improved conversion rates
  • Several payment options
  • Chargeback protection

REASONS TO USE:

  • One-touch payments
  • High security and fraud management
  • Supports multi-currency
  • Connection with other skrill wallet holders

REASONS TO AVOID:

  • Limited customer support

7. WorldPay – Best payment gateway that makes online payment simpler

PRICING: £19 per month for Gateway Standard and £45 per month for Gateway Advanced

KEY FEATURES:

  • PCI compliance
  • Fast payouts
  • Recurring billing
  • Global reach

REASONS TO USE:

  • Integration
  • Real-time data
  • Simple order management
  • Fraud prevention

REASONS TO AVOID:

  • High fee on the commission
  • The payment process is tedious

8. Payoneer – Best payment gateway for digital commerce

PRICING: You can contact Payoneer to obtain the recent pricing

A Payoneer account is your solution to unlock a universe of opportunities. Whether making global payments, accepting funds, controlling your digital business, or accessing capital. Payoneer opens your business up to the world. Payoneer also provides multiple ways for freelancers and businesses to get paid and pay their sub-contractors.

KEY FEATURES:

  • Recurring billing
  • Manual payment entry
  • Dispute management
  • Fraud protection tools

REASONS TO USE:

  • Two-factor authentication
  • Productivity and reliability
  • Instant payment
  • Integrations

REASONS TO AVOID:

  • Poor customer support
  • Receiving payments internationally takes a while

The payment gateway has amazing features and benefits. However, choosing the perfect one for your business and personal use might be a hassle. To save you the stress, we have compiled a list to choose from. The above-mentioned is a list of the best payment gateways to choose from. Their user interface and customization options can help you manage your payments better.

REFERENCES AND LINKS

  • https://en.m.wikipedia.org/wiki/Payment_gateway
  • https://devathon.com/top-10-payment-gateways/
  • https://www.thebalancesmb.com/best-payment-gateways-5079334
  • https://www.paypal.com/ng/home
  • https://stripe.com/
  • https://www.2checkout.com/
  • https://www.braintreepayments.com/
  • https://squareup.com/us/en
  • https://www.skrill.com/en/business/
  • https://online.worldpay.com/
  • https://www.payoneer.com/

Read More