In today’s fast-paced digital marketplace, choosing the right eCommerce payment gateway is crucial for the success of any online business. As E-commerce continues to grow, with US sales reaching $1.1 trillion in 2023, selecting a reliable and efficient payment gateway can significantly impact your business’s profitability and customer satisfaction.
The global eCommerce industry is experiencing a rapid shift towards digital payment gateway methods. By 2024, it is projected that 51.7% of all eCommerce transactions will be conducted through digital wallets, reflecting the increasing consumer preference for secure and convenient payment gateway options. Notably, PayPal, Apple Pay, and Venmo dominate the US digital wallet market, with PayPal alone being used by over 36% of digital wallet users.
Integrating a robust payment gateway can streamline transactions, reduce cart abandonment rates, and enhance the overall shopping experience. With innovations like AI-driven fraud detection and the growing adoption of contactless payment gateway methods, businesses can ensure secure and seamless transactions for their customers.
In this blog, we’ll explore the top 15 essential eCommerce payment gateway that can help propel your online business to new heights. From well-established giants like PayPal and Stripe to emerging platforms offering unique features, we’ll provide a comprehensive overview to help you make an informed decision. Stay tuned as we dive into the key features, benefits, and considerations for each payment gateway, ensuring you choose the best fit for your eCommerce needs.
PayPal
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.9% + $0.30 per transaction |
| International Fee | 4.4% + fixed fee based on currency |
Key Features:
- Global Reach: Operates in over 200 markets and supports 25 currencies.
- Security: Advanced fraud detection and buyer protection.
- Integration: Easy to integrate with various e-commerce platforms and shopping carts.
- Mobile Payments: Supports mobile payments through its app and in-app purchases.
- PayPal Here: Point-of-sale (POS) system for in-person payments.
- Recurring Billing: Supports subscription and recurring payments.
- PayPal Credit: Offers financing options for customers.
Source: Statista, PayPal Active Users
Stripe Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.9% + $0.30 per transaction |
| International Fee | 1% additional fee |
Key Features:
- Developer-Friendly: Comprehensive API for custom integrations.
- Global Support: Accepts payments in 135+ currencies and supports international cards.
- Advanced Security: PCI-DSS compliance, 3D Secure, and Radar fraud detection.
- Subscription Management: Robust tools for handling subscriptions and recurring billing.
- Stripe Atlas: Assists in setting up a business entity in the US.
- Stripe Connect: For marketplace and platform payments.
- Detailed Analytics: Real-time reporting and financial analytics.
Source: Stripe Official Website
Square Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.6% + $0.10 per transaction |
| International Fee | Not supported |
Key Features:
- POS System: Comprehensive POS system for retail and restaurants.
- Hardware: Offers a range of hardware like terminals, stands, and readers.
- Square Online: Build e-commerce websites with integrated payment processing.
- Invoicing: Send digital invoices and accept payments online.
- Appointment Booking: Integrated system for service-based businesses.
- Payroll: Complete payroll solutions for businesses.
- Square Capital: Business loans and financing options.
Source: Square Official Website
Reference: Square POS Integration
Authorize.Net
Pricing:
| Fee Type | Cost |
| Monthly Gateway Fee | $25 |
| Transaction Fee | 2.9% + $0.30 per transaction |
| Setup Fee | None |
Key Features:
- Security: Fraud detection suite and advanced security measures.
- Recurring Billing: Supports subscriptions and automatic payments.
- Invoicing: Online invoicing and eCheck processing.
- Customer Information Manager: Securely stores customer data for repeat transactions.
- POS Integration: Compatible with various POS systems.
- Developer Tools: APIs and SDKs for custom integrations.
- Multi-Currency Support: Accepts multiple currencies for international transactions.
Source: Authorize.Net Official Website
Amazon Pay
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.9% + $0.30 per transaction |
| International Fee | 3.9% + $0.30 per transaction |
Key Features:
- Familiarity: Uses Amazon’s customer data for quick and easy checkouts.
- Trust: Benefits from Amazon’s reputation and customer trust.
- Mobile Optimization: Seamless mobile payment experience.
- Voice Payments: Integration with Amazon Alexa for voice commerce.
- Recurring Payments: Supports subscription-based models.
- Fraud Protection: Advanced fraud detection and prevention.
- Buyer Dispute Management: Handles disputes and chargebacks effectively.
Source: Amazon Pay Official Website
Reference: Amazon Integration
Adyen Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | Varies by payment method |
| Monthly Fee | Based on usage |
Key Features:
- Global Reach: Supports payments in 150+ currencies and 250+ payment methods.
- Unified Commerce: Single platform for online, mobile, and in-store payments.
- Risk Management: Built-in risk management and fraud detection tools.
- Direct Acquiring: Direct connections to card networks for faster processing.
- Detailed Reporting: Comprehensive reporting and analytics tools.
- Subscription Billing: Supports recurring payments and subscriptions.
- POS Solutions: Integrated POS solutions for in-store payments.
Source: Adyen Official Website
2Checkout (now Verifone)
Pricing:
| Fee Type | Cost |
| Transaction Fee | 3.5% + $0.35 per transaction |
| International Fee | 1% additional fee |
Key Features:
- Global Payments: Supports 45+ payment methods and 87 currencies.
- Subscription Management: Advanced tools for recurring billing and subscriptions.
- Fraud Protection: AI-driven fraud detection and prevention.
- Checkout Experience: Customizable checkout options to match brand aesthetics.
- Local Payment Methods: Supports local payment methods globally.
- Detailed Reporting: Comprehensive analytics and reporting dashboard.
- API Integration: Flexible APIs for seamless integration.
Source: 2Checkout Official Website
Braintree Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.9% + $0.30 per transaction |
| International Fee | 1% additional fee |
Key Features:
- Full-Stack Payments: Supports web, mobile, and in-person payments.
- Global Reach: Accepts payments in over 130 currencies.
- Advanced Fraud Tools: Integrated fraud detection and prevention.
- Vault: Secure storage of customer payment information for repeat transactions.
- PayPal Integration: Direct integration with PayPal.
- Subscription Billing: Tools for managing subscriptions and recurring payments.
- Customizable Checkout: Flexible APIs for customized payment experiences.
Source: Braintree Official Website
Skrill Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | 1.9% per transaction |
| International Fee | 3.99% per transaction |
Key Features:
- Global Payments: Supports payments in 40+ currencies and multiple payment methods.
- Prepaid Card: Offers a prepaid card linked to the Skrill account.
- Security: Advanced encryption and fraud prevention.
- Instant Transfers: Fast transfers to bank accounts and mobile wallets.
- Digital Wallet: Store and manage funds online.
- Cryptocurrency: Supports buying and selling of cryptocurrencies.
- Affiliate Program: Rewards for referring new customers.
Source: Skrill Official Website
Worldpay
Pricing:
| Fee Type | Cost |
| Transaction Fee | Varies by business model |
| Monthly Fee | Based on usage |
Key Features:
- Global Acceptance: Supports 120 currencies and 300+ payment methods.
- Omni-Channel: Unified platform for online, mobile, and in-store payments.
- Fraud Prevention: Comprehensive fraud detection and risk management tools.
- Recurring Billing: Supports subscriptions and recurring payments.
- POS Systems: Integrated solutions for retail and hospitality.
- Detailed Reporting: In-depth analytics and reporting tools.
- Developer Tools: APIs for customized payment solutions
Source: Worldpay Official Website
WePay
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.9% + $0.30 per transaction |
| International Fee | 1% additional fee |
Key Features:
- Integrated Payments: Seamless integration with platforms and marketplaces.
- Risk Management: Robust fraud detection and chargeback management.
- White-Label Solutions: Customizable payment solutions under your brand.
- Fast Onboarding: Quick setup and onboarding process for merchants.
- Detailed Reporting: Comprehensive reporting and analytics.
- Customer Support: Dedicated support for partners and merchants.
- POS Integration: Compatibility with various POS systems
Source: WePay Official Website
Payoneer Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | 3% per transaction |
| International Fee | 2% currency conversion fee |
Key Features:
- Global Payments: Supports payments in 200 countries and 150 currencies.
- Multi-Currency Account: Manage multiple currencies in one account.
- Mass Payouts: Efficiently handle large volumes of payments.
- Freelancer Solutions: Tailored solutions for freelancers and gig workers.
- Prepaid Card: Linked prepaid card for easy access to funds.
- E-commerce Integration: Compatible with major e-commerce platforms.
- Detailed Reporting: Comprehensive reporting and transaction history
Source: Payoneer Official Website
BlueSnap Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | 2.9% + $0.30 per transaction |
| International Fee | 1% additional fee |
Key Features:
- All-in-One Payment Platform: Unified platform for online, mobile, and POS payments.
- Global Reach: Supports 100+ currencies and 110 payment methods.
- Fraud Prevention: Advanced fraud detection and management tools.
- Subscription Billing: Tools for managing subscriptions and recurring payments.
- Detailed Analytics: Real-time reporting and analytics.
- Developer-Friendly: APIs for seamless integration.
- Hosted Payment Pages: Customizable hosted payment pages.
Source: BlueSnap Official Website
Klarna Payment Gateway
Pricing:
| Fee Type | Cost |
| Transaction Fee | Varies by country and transaction type |
| Monthly Fee | Based on usage |
Key Features:
- Flexible Payments: Pay now, pay later, and financing options.
- Global Reach: Operates in 17 countries with millions of users.
- Increased Conversion: Boosts conversion rates with flexible payment options.
- Merchant Support: Dedicated support and resources for merchants.
- Fraud Protection: Comprehensive fraud detection and prevention.
- Consumer Insights: Detailed insights into consumer behavior and preferences.
- Smooth Integration: Easy integration with various e-commerce platforms.
Source: Klarna Official Website
Alipay
Pricing:
| Fee Type | Cost |
| Transaction Fee | Varies by transaction type |
| Monthly Fee | None |
Key Features:
- Global Payments: Widely accepted in China and growing internationally.
- Super App: Integrated with various services like shopping, travel, and more.
- Security: Advanced encryption and fraud prevention measures.
- QR Code Payments: Popular QR code-based payment system.
- E-commerce Integration: Seamless integration with online stores.
- Detailed Reporting: Comprehensive transaction reporting and analytics.
- Consumer Financing: Offers financing options for consumers
Source: Alipay Official Website
Conclusion
Selecting the right payment gateway is essential for the success of your eCommerce business. Each of these 15 payment gateway offers unique features and benefits tailored to different business needs. Consider factors such as transaction fees, security features, and global support when making your decision. With the right payment gateway, you can enhance your customer experience, increase conversion rates, and expand your business globally.
