What Payment gateway services to use and why?
An online Payment gateway service is something which accepts your customer’s credit card or other payment information through the website and processes it securely, before sending the secured information to the bank which in turn sends the requested payment to the payment gateway or payment processor service. The acquired payment is then sent to your bank account that you attached to the payment gateway service. The service manages all these transaction on your part, giving you a peace of mind.
If you’ve run or trying to get your e-commerce store up and running you might know, that it’s a pain setting up a payment gateway service and watching it go up and running. I’ve personally set up a few payment gateway services for my stores and also some for my friends ( for more good karma!) . For your convenience, I’ve listed a few payment gateway services which i spent considerably lesser time setting up among the other 100 ones.
1. Payza :
Payza started out in the early 2012, mainly for Bangladesh when it started out. But now, Payza has the option of sending and receiving payments in 190+ countries in 20+ currencies. Just like Paypal, any Individual customer can open a personal account with Payza through registering their email address and personal data on the company’s website. Completing an optional identity verification process allows the sending/receiving of higher-value payments, though it is obligatory for all transactions in some parts of the world. Accounts are identified by email address(es) associated with them; payments made from a Payza account are like “sending” money to an email address.
For businesses, Payza provides several business management tools such as checkout buttons, shopping carts, support for invoicing and payouts, and tools for developers to integrate Payza with their websites. These options make it a lot easier for people to integrate the payment on your website.
2. Dwolla: Dwolla is a US based and us only payment gateway.
Dwolla became popular because it was an early adopter of bitcoins. Dwolla was the first payment gateway service to introduce Fisync service which processes the payment faster almost instantaneously than the Automated clearing house which usually would take 3 to 4 days of time. Dwolla was said to overtake PayPal and other payment processors.
Payoneer let’s you use rechargeable debit cards. It is also seen as an alternative to paypal as it supports wire transfers to a wide range of banks. It has MasterCard supported debit cards which can be used at the ATMs and Point of sale (POS) terminals. Payoneer has various tools for business as well, let’s you accept payments from U.S based companies and lets you send payments to around 200 countries.
Credit card accepting gateway is one of the popular ones in the U S. Authroize.net is easy to integrate and set up. Also, if you are extending it and developing a module it’s got a clear cut and easy to use API which the service provides, making it developer friendly too. Since, they’ve been in the business for a long time they have great Fraud prevention tools that’ll avert any fraud attempts detected by their systems.
5. Pin payments:
Pin payments are predominantly used in Australia, but you can use it in the US as well. And their payment gateway . They have multi- currency payment options. Pin payments gateway requests are through HTTP calls so it’s possible to integrate with any technology.
Sagepay is a U.K based payment gateway, it accepts multi- currency payment option. They don’t deduct money from the transaction. Instead they charge you from your card on file. Sagepay direct pay has various plugins that will help you integrate into different platforms too.
Stripe is a widely popular gateway that accepts credit card payments in the U.S, UK and it’s colonies. Stripe has been widely used by popular services like Lyft, dribble etc. It’s got a clean API, if you’d like to extend it with more sophisticated system.
8. Skrill :
Skrill was previously known as money booker or moneybookers.com , Skrill is a payment processing gateway which works in full order to accept credit card, debit cards, local payment options in various countries. Skrill offers different implementations for different requirements, so that the integration becomes easier.
It’s been around for sometime and they are quite fast in their payment schedule sending you payments within 2 working days. They power companies like UBER, fab etc. The exciting thing about Brain tree is that for the first $50K there is no transaction fee and is absolutely free. Making it startup friendly.
World pay payment gateway service carries out high volume transaction everyday around 12 million transactions in all sizes. Their payment structure is slightly expensive but a reliable solution. Worldpay also has options to do face to face transactions and accepting payments from terminals (offline payment) .
Using these payment gateway services you can largely benefit from them. Of late there is also a new service called OrderDragon.com combines all the gateway under a multiple payment gateway service which accepts these payments for you and forwards it to your bank account. You can attach unlimited domains so that you can accept payments across different stores you have. Unlimited invoices, lets you generate invoices for any number of sales you have. There is no cap on the transactions and products. So it lets you do business 365 days without any worries about the nitty gritties of using multiple payment gateway service. One of the advantages of using OrderDragon is that all you need to do is paste a line of code in your eCommerce site and it starts works then on. Also, it is possible to generate a buy now button for each product that you can paste on your product page. To sum it up, it simplifies the tedious work for you.