Today's online payment platforms aim to provide convenient and secure payment methods. Each organization or individual has its own reasons to consider using these services.
Today, let's learn about the top 10 most effective online payment gateways for your e-commerce website with PlutusPay.
Paypal
Paypal is one of the top choices for online payments. This platform has attracted more than 254 million users worldwide. If you allow customers to pay via Paypal, it will be easier for many people to shop on your site. Paypal boasts of being used by over 17 million businesses, with 82% higher conversion rates than other payment methods.
This is a compelling reason to use Paypal. Luckily, integrating the Paypal button into your checkout process is simple (however, if you're not using an off-the-shelf ecommerce solution, you may need to work with a developer). You will be charged 30 cents plus 2.9% for each transaction processed via Paypal.
Amazon Pay
Despite Paypal's popularity, there's no denying that Amazon is one of the most popular online payment sites, and most of your customers will have accounts on it. By integrating Amazon Pay into your store, Amazon customers can easily shop with you without having to enter their payment information.
This reduces barriers to purchase for millions of customers and also provides a payment method recognized for its fraud protection. Amazon Pay also works well on mobile devices, providing a convenient experience where it matters most.
Installing an Amazon Pay button on your website using their quick integration option takes just a few minutes. Or you can also use their API to customize the experience to suit your site, although this takes more time. Similar to Paypal, using Amazon Pay costs 30 cents plus 2.9% per purchase.
Google Pay
If anyone has the ability to compete with Paypal and Amazon in the online payment industry, it is Google. This technology company has launched its own online payment method, called Google Pay. Google confidently says that hundreds of millions of users have card information saved to their Google accounts, which means that offering a Google Pay option will bring more convenience to a large number of users.
Like other methods, Google Pay promises an intuitive payment process on both desktop and mobile, ensuring top security through the use of encryption.
In addition, Google Pay also allows retailers to set up loyalty programs, use digital gift cards and make transactions for customers, thereby eliminating the need for people to use them. paper card or plastic card. Notably, Google Pay also integrates with Paypal and Visa Checkout to bring more options to users.
It is worth noting that, when using this service, neither you nor your customers have to pay any fees. It's completely free for both parties.
American Express
Although American Express doesn't have as large a market share as the other three online payment options, what it's worth is consumer trust. While not as popular as its competitors in the credit card industry, American Express is rated highest in e-commerce satisfaction and generally targets higher-income consumers than the major companies. other credit cards.
So, if you offer American Express payment option, your chances of attracting top customers are very high.
American Express is committed to preventing fraud, providing 24/7 customer support, and is flexible in partnering with various payment providers and considering additional features. They also accept over 120 currencies, helping you attract international customers if you want.
Notably, this option costs more than your other options. Fees for using the American Express portal start at $20 per month for up to 100 transactions, but can increase for additional transactions. They also charge a setup fee on the number, starting at $99.
If you believe you have a sufficient number of high-value customers who would benefit from using the American Express payment gateway, although the cost may be higher, it is a worthy choice.
Apple Pay
For Apple device users, which accounts for more than 64% users in the United States, Apple Pay is a mobile payment method and fast payment option on websites that accept it. For smartphone users, customers can use the fingerprint sensor to pay via Apple Pay.
Apple Pay uses tokens to secure credit card information. When a user provides card information, the device generates a random number to represent that card. This information is encrypted and inaccessible to hackers, ensuring the safety of users' financial data during the speedy payment process.
You can integrate Apple Pay into your website using their API, provided you're already using one of the compatible payment providers or platforms. Like Google, the Apple Pay payment gateway is completely free for both merchants and customers.
Stripe
Stripe provides a multi-functional online payment processing platform that makes it easy for you to accept payments from a variety of sources (credit cards, e-wallets, ACH transfers and multiple currencies ). They also offer many flexible options for the payment process. If you have no coding knowledge, you can easily integrate Stripe's embedded payments into your website with a simple Javascript script. Or if you want to create a more unique payment experience, you can use Stripe's custom UI toolkit.
While some of the previously mentioned payment options are often used as additional options, Stripe provides a solid base for integrating other online payment methods.
Like the other options, Stripe charges 30 cents plus 2.9% for processing domestic credit card payments and 8% for ACH payments.
Square
While Square is primarily known for processing payments directly at the point of sale (POS), the company also offers eCommerce solutions. They offer an online payment API that allows accepting multiple payment methods such as Google Pay, Apple Pay and Mastercard, as well as credit card payments.
In addition to payment processing, Square offers a convenient payment solution that allows customers to create a profile and provide payment information at the same time. Similar to many other solutions, Square charges 2.9% plus $0.30 per payment transaction.
Visa Checkout
Similar to the payment gateway from American Express, Visa Checkout makes it easy for Visa cardholders to check out on your website without having to enter full payment information. With over 2 million registered users of Visa Checkout, using this platform will make the payment process more convenient for a significant number of users.
This convenience really makes a difference, because according to data from Visa, using Visa Checkout can increase conversion rates by up to 42%. This payment option offers enhanced security features and easy installation.
Masterpass
The online payment option from Mastercard is called Masterpass and is similar to payment options from American Express and Visa. This makes it easy and quick for Mastercard holders to pay on your website. Masterpass provides advanced security measures during the payment process, including user verification, tokenization, issuer authentication, and anti-fraud monitoring.
There are no fees that Mastercard charges you or your customers. They also have a team of developers ready to assist you with installation.
2Checkout
2Checkout is a global payment processing solution that accepts payments from around the world and in multiple currencies. They offer a custom payment solution that you can customize and integrate into your website, while also providing extensive anti-fraud support and responsive design to ensure customers can easily pay on different devices.
By offering an API, 2Checkout makes it simple to integrate a payment processing solution into your website, while providing the flexibility to customize to your needs. The company charges 2.9% plus 30 cents per transaction, as well as there are additional fees for international customers.
summary
When it comes to receiving payments, you certainly have many options. However, it's important not only to find the right method, but also to decide which different online payment methods you want to offer your customers.
If adding more payment options to your checkout process makes it quicker and more convenient for customers to buy products from you, you could see an increase in sales – so why limit your options? Right?
You can see more in this article about these types of payment gateways here: International payment gateway: Concepts and classifications
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