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Which Payment Gateway Is Best Suitable For Your Business?

Payment Gateway

Article Overview

Reading Time: 14 minutes

Posted on: Saturday May 23, 2020

As everything gets online now, there’s no option left apart from finding a reliable source for dealing through a single window without any support of good old ways we learnt; seeing straight into someone’s eye for having confidence to trust them. See gaining trust cannot be done only by looking deep into the eyes of person in front, opinion from others coming your way also prove their worth.

About Payment Gateways

Every business need to define their payment mode and when it comes online, gets referred as payment gateway. And Pro Web can help you in adding this feature to your website within quick succession!

In easier terms, a payment gateway is an e-commerce app service authorizing secured credit card payments for an online retailer, e-business, etc. It is a dedicated portal to perform desired money transactions between websites and banks instantly.

Integrating Payment Gateway

Among millions of questions coming to your mind while setting up your business, thought of managing the charges for your service and receiving the payment for it. The answer is easy. You need integrating a secure payment portal for accepting online payments. But the integration needs to be done by experts to ensure that both merchant and customer can feel secure while processing the money transfers on website.

We can help you here! Pro Web offers complete payment gateway integration according to your specific requirements through finest web development team! Further we have listed a few options for suitable payment gateway options available to save your time and efforts in searching a suitable payment option for your online business.

What more could anyone ask for?

Payment Gateway Types:-

Hosted Payment Gateway

Whenever a user gets redirected to another page from ecommerce website it is referred as a Hosted Payment Gateway. Here customers need to leave the site for reaching a new page where payment gets completed and after the process gets completed, you would be redirected back to where you left off. Also this kind of gateway doesn’t require taking any confidential details on your website rather they take customer to their own payment gateway site handling the security risk.

Shared Payment Gateway

At time of making payments, user doesn’t get redirect to any another site’s payment page; it’s a Shared Payment Gateway. After clicking the payment link/button a post form appears and  after filling this form with asked details and submitting it, payment gets processed on the same page and  upon successful validation user gets redirected to a “thank you” page.

Considering Factors While Selecting Payment Gateway:-

This may be a confusing decision, but one can refer to expert advises for staying away from all the confusions. Its’ important to select a perfect payment gateway option by keeping these factors in mind: transaction fees, on-form payments, card types, and recurring billing.

  • Transaction Fees

It’s normal to stumble upon the charges any payment gateway will apply for using their app and processing payments. Either it’s a fixed fee per transaction made, or a specific amount percent from each purchase or even a mix of both. The cost of withdrawing funds to your bank account is also included in transaction costs.

  • On-Form Payments

Some payment gateways will collect the payment on your website by using a simple form, while others will redirect users to payment gate page for processing payments. It’s an important factor for those who prefer a pre-built form on website that’s integrated with a payment gateway.

  • Card Type

Many payment gateways directly receive the payments from customers who use credit / debit card. It helps in saving customers time from registration and creates account processes.  But it’s necessary to know what type of card is accepted by the gateway and which locations are supported.

  • Recurring Bills

The process to set up and manage subscription payment on monthly basis without facing the hassle of dealing with this action manually is facility offered by a few payment gateways; the recurring bill.

Popular Payment Gateways For Dubai, UAE Only

Is your business sales exclusive in UAE? If yes then follow the comprehensive guide containing details about the top 10 payment gateways in Dubai.

Payment Gateways for International Businesses:-

Below are some of the most popular payment gateways with all of their pros and cons you must be aware of before you choose any one of them for your payments.

1. PayPal

PayPal is renowned as a online platform connecting people and businesses for making goods purchase without any extra hassle or strict registration that’s time consuming. It’s been a preferred choice for making online transactions.

Paypal charges 2.4% – 3.4% along with a fixed transaction fee of $0.30 per transaction, but remember that withdrawal rates may vary for different banks and currencies.

2. Stripe

Stripe is offering its services in 18 countries only, but they have plans to expand their services worldwide. They charge transactional fees at 2.9% + $0.30, regardless the transactional location or the card type, respectively. A unique facility here is in-built facility of payment, unlike a redirected page in PayPal.

3. WePay

WePay works with an amazing strategy by offering absolute security from any kind of online fraud to ensure that clients provide all credential details in a well-protected environment. The primary concern here is providing customers with best solution and service without any hidden charges, with fast processing and reasonable rates.

4. Skrill

Previously named MoneyBookers, Skrill is one the top payment choices available for international payments. The monthly fee charged from merchants is €19.95 with a currency conversion rate of 2.99% to 4.99%. and 1% for the payouts your customers, suppliers or manufacturers.

5. Google Wallet

Google Wallet accepts MasterCard, Visa, Discover, and American Express. There is no set up fee at all and their rates for transactions range from 1.9% + $0.30 to 2.9% +$0.30 each. But a major drawback so far is that the payment done using this particular app that allows to pay via Gmail, is restricted only for use in the US.

6. Dwolla

This payment platform is more suitable for personal payments only in a single country like USA. Just like other gateways they do have an app dedicated for all Android, iOS and Windows devices.  This is a bit faster platform unlike others as it takes only one business day to process your request. They charge $0.25 per transaction, and there are no charges for a transaction less than $10, which is cheaper than other payment gateways.

7. Amazon Payments

Amazon Payment offers the service of purchasing their item(s) using their account and storing card and shipping details for hassle-free shopping every time. It has 2 options for the customer to pick.

  • Checkout by Amazon – It’s useful for ecommerce merchants looking to sell products/services. This excludes the process of redirecting to another site and keeps customer on their website only.
  • Amazon Simple Pay – It’s a highly recommended option for businesses selling digital products like E-books, Plugins, and WordPress themes, etc.

They offer their services in 28 countries respectively with zero set up charges and the transaction rate of 1.9% + $0.3 to 5% + $0.5 each.

8. Worldpay

WorldPay is both economical and highly-secured as they offer flexible transfer rates along with fraud screening to avoid unauthorized transactions or customers’ data access. Currently supporting 36 countries, their disadvantages include huge charges for initial setup and long waiting period. Their setup charges are £75, with a transaction fees starting from 1.9% + 10 pence, alongside a monthly fee of £15. It takes 4-6 weeks. So you cannot rely on them for urgent payments.

9. Authorize.net

Started in 1996, Authorize.net has been processing billions of transactions on the behalf of merchant customers across 190+ countries. It’s a subsidiary of Visa and their setup charges start from $99.00 with additional gateway charge of $20 per month and a Batch fee of $25 with a transaction fee of $0.10 each.

If you like what you read and feel it’s okay to ask for a little help when you need it, then feel free to contact us, Pro Web to make you an offer you simply cannot refuse!