Mon, 28 Nov 2022

Being an eCommerce business owner, you know the significance of offering good UI and features in your website/app, but what if the payment experience is awful?

Ultimately, customers stop trusting, and user engagement and sales will decrease. The payment gateways play a significant role in the customers' purchasing experience. A decent payment gateway should be flawless, rapid, safe, and reliable.

Good payment gateways ensure confidentiality, security, and trustworthiness on the eCommerce app/website. Payment gateway should enable brokers to accept different transactions with more safety on the website and app.

The payment gateway in an eCommerce store needs to be established properly. If it does not work well, your business can suffer from cart abandonment which results in customers and sales loss.

Integration of good payment gateways with different payment options and high security is the key to the long-term success of your e-commerce store.

Here we have mentioned some of the top payment gateways that you can leverage. So, let's start exploring.

Top Payment Gateways for Ecommerce Store

|1. PayPal

From big names to small boutiques, users can shop securely at different online stores with PayPal. Users can link all their credit and debit cards and select any option at checkout for an easy and quick shopping experience.

The platform lets the users stay highly secure with round-the-clock fraud tracking, buyer protection, and refund return shipping costs. It will make the money movement and management as simple, safe, and budget-friendly as possible.

Notable Features:

  • PCI compliance
  • Virtual terminal
  • Inventory tracking
  • Credit card and Mobile card reader
  • Express checkout
  • Barcode scanning
  • Online invoicing
  • Shopping cart
  • Bill me later

|2. Amazon Pay

It is an easy, fast, and secure payment solution platform designed for Amazon shoppers and merchants. It offers two packages:

  • Login and pay for shoppers
  • Pay with Amazon for merchants

It offers a smooth shopping experience for online retailers and sellers with great features and tools. It appeals to users and encourages more shopping, streamlining their shopping process and enhancing customer engagement & loyalty through saved payment information for rapid checkout.

Notable Features:

  • Automatic payments
  • Inline checkout
  • Merchant website integration
  • Fraud protection
  • Customer identity

|3. Stripe

Organisations of all sizes globally use the Strips platform to accept payments, send payouts, and control their online business. It facilitates online payments for online and face-to-face retailers, subscription businesses, software platforms and marketplaces, and all in between.

Companies can be safe from fraudulent activities, allocate virtual/physical cards, send invoices, mitigate check-out conflicts, acquire financing, control business spending, etc. For ambitious businesses, Stripe makes moving money as easy, borderless, and programmable as the rest of the internet.

Notable Features:

  • Multi-currency payouts
  • Collaboration notes
  • Mobile customer interface
  • Clean canvas
  • Authorization
  • Payment options
  • Embeddable check-out
  • Consolidated reports
  • Accounting integrations
  • Open-source plugin
  • Custom UI toolkit
  • Unified payout
  • Financial reporting
  • Dispute handling
  • Roles and permissions

|4. Authorize.net

Authorize.net helps simply accept digital and credit card payments physically, online or through the smartphone. You can leverage solutions developed for your business and aid you focus on what suits your business the most.

It is a leading payment gateway and is trusted by 430,000+ merchants, managing one billion+ transaction and $149 billion+ in payments each year. It makes payment processing effortless so that you can improve your cash flow.

Notable Features:

  • Retail payment
  • E-check processing
  • Recurring billing
  • New-age fraud detection Suite
  • Virtual terminal and batch upload
  • Mail or phone payment
  • Sync for Quickbooks
  • Customer information manager

|5. Skrill

With the Skrill platform, online fund transactions are easy, safe, quick, and affordable. Skrill encourages users to use online payment methods to send money to a friend/relative and trade cryptocurrencies.

It is possible to transfer funds to India, Thailand, Kenya, and more than 180 nations globally. Users can select from an extensive range of 40+ currencies supported by the platform and earn points based on their executed transactions with the Knect loyalty program.

Notable Features:

  • Email transactions
  • Supports 40 currencies
  • One place data
  • Quick access
  • Free account
  • Credit card transactions
  • Loyalty rewards
  • Sports Corner
  • Currency exchange

|6. Verifone (2checkout)

2checkout is a Verifone now that is a comprehensive monetization platform.

Whether an organisation is getting into global markets, wants to increase conversion rates or runs a subscription-based company, Verifone helps to deal with digital commerce complications, boosts revenue and makes global online sales easier.

Verifone is omnipresent in omnichannel. Irrespective of where a business is in the world, and where a business is with the customer journey, Verifone modernises commerce. Companies can improve recurring revenue streams through channels by streamlining back-end complications that advanced digital commerce generates.

Notable Features:

  • Global Payments
  • Subscription Billing
  • Digital Commerce
  • Worldwide Tax & Financial Services
  • Risk Management & Compliance
  • Partner Sales
  • Level 1 PCI data security standard
  • Multiple payment options
  • Custom checkout options
  • Account updater
  • Integration with more than 100 online carts and systems
  • Tailor-made subscription plans
  • Support - 87 currencies and 15 languages

In a Nutshell

Cart abandonments and lost revenue for your eCommerce business can be avoided by providing different payment methods your audience usually prefers. Today, with modern technologies, several online payment modes are available that shoppers can easily use.

Different payment systems have different payment rates and methods that affect various customer groups. You merchandise to combined groups in several regions and reach more audiences that will ultimately aid to boost brand awareness and reliability.

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