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Enable Online Payment. Best Payment Gateway to Consider

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What is a Payment Gateway?

A payment gateway acts to facilitate payment information between a store and their customer. It is important because it uses methods to ensure the security of the facilitation (i.e. the transaction). Hence, reducing invalid card transactions, fraud risks, unnecessary inconveniences, and any related-costs consequently.

The contemporary payment gateway is powerful as it not only serves as the gatekeeper of transaction, but it can also provide the payment methods for different modes, as well as, currency conversion. Thus, making international selling and buying possible.

The world wide web is huge, and yet you had stumbled on my site looking for something. I hope you find it as we had taken huge efforts to create them. Best of all, its FREE! Hence, some of our content may include affiliate links (i.e. whenever you click on the links and purchase, I earn a small commission at no extra costs to you!). No worries! Some of these links may look like phishing, but I assure you they are not! Lastly, the affiliation does not affect my reviews towards them. Enjoy!

If you are an eCommerce, or looking to start selling online (does not matter if you have an online shop actually), you got to read our take on some of the best payment gateway available. You will learn more about what these best payment gateway offers to help you make the choice when you need. Here goes!

Best Payment Gateway

  1. 2Checkout
  2. PayKun
  3. Payoneer
  4. Razorpay
  5. SecurionPay
  6. Square

+Bonus

1. 2Checkout

Best Payment Gateway: 2Checkout

Year Founded: 2006

Country: USA

Essentials

  • Supported e-Commerce Platforms: 120+
  • Supported Currencies: 100+
  • Supported Countries: 200+
  • Local Payment Methods: 45+
  • Digital Wallet: No
  • Mobile App: No

Use Factor

  1. Merchant of Record Possible2Checkout offers both choices as a merchant of record and payment service provider. Most other payment gateways only offer the latter. Well, the difference being with 2Checkout as the merchant of record, they take care of your payment processing on top of tax management, invoicing, compliances and so forth. In other words, choose 2Checkout as your merchant of record if you want to do businesses with the headaches of doing it.
  2. Enhance-able with Add-Ons – Nearly everything you need for better e-commerce is available with separate add-ons! That is, if you want greater flexibility with subscription and billing, get the 2Bill add-on. Think you can benefit with faster and easier quote generation? Try the Verifone CPQ add-on. There’re definitely a few more others, so be sure to check them out Here and you may find one which may bring your selling to the next level!
  3. Tap on 50k Affiliates – Not just a payment gateway, but an affiliate network too! Users of 2Checkout can readily register their businesses to market globally over 50,000s affiliates! The process is a matter of clicks with setting your affiliate approval process and commission amount. But the potential is tremendous accounting for as much as 16% of e-commerce sales in US and Canada!

Fees & Charges

  • Receive Payment: fr Fixed 3.5% + US$ 0.35 Per Transaction
  • International Transfer: Free
  • Withdraw to Bank: 15 USD/EUR/GBP

2. PayKun

Best Payment Gateway: PayKun

Year Founded: 2018

Country: India

Essentials

  • Supported e-Commerce Platforms: 6
  • Supported Currencies: 29+
  • Supported Countries: Unknown
  • Local Payment Methods: 120+
  • Digital Wallet: No
  • Mobile App: No

Use Factor

  1. Buyer & Seller Protection – Most businesses operate as both a seller and buyer. If you’re using PayKun, you’re protected as both with proper procedures and protocols. So, sell and buy with greater confidence! Your customers and vendors would be too! All in all, reduce your risks so that you maximise profits with a credible business that goes the long term. Only with PayKun!
  2. Dispute Resolution – Not just established sets of rules in selling and buying with PayKun, but you also get an added hand in settling disputes too! Just open a file online and PayKun’s team will assist to understand the case by analysing the documentations submitted and delivering a final verdict. The third-party mediation offers the best possible fairness for all parties involved.
  3. Pay via URL – Yes, you don’t need any landing pages or invoices. With this payment gateway, all you need is key in the item and amount to generate an URL link that can be shared across email, social media and SMS for easy click-and-pay. Don’t forget that you can always turn URLs into QR codes too, if that make anything easier!

Fees & Charges

  • Receive Payment: fr 1.75% – 3%
  • International Transfer: N.A
  • Withdraw to Bank: N.A

3. Payoneer

Best Payment Gateway: Payoneer

Year Founded: 2005

Country: USA

Essentials

  • Supported e-Commerce Platforms: 100+
  • Supported Currencies: 150+
  • Supported Countries: 200+
  • Local Payment Methods: No
  • Digital Wallet: No
  • Mobile App: Yes

Use Factor

  1. 0% Payoneer-Payoneer Transaction Fees – Would you have lots of customers or vendors who are Payoneer users? Then, using Payoneer for payment becomes all the sweeter! At totally no fee between Payoneer transactions, you can easily save anywhere from 1 to 3% per transaction which can adds up in your business expenses. So, start implementing Payoneer as one of your payment options to find this out!
  2. Store Manager – The built-in Store Manager features a complete dashboard for tracking your store performances and managing any payments. Good if you’re integrating Payoneer with more than one e-commerce platform such as Amazon, Walmart, Upwork and even Airbnb! No need to head over to each platform when you can do and see everything in this Store Manager.
  3. Mass Payouts – Have employees overseas including freelancers? Hybrid working is the new way of working afterall! Use Payoneer to easily make mass payouts to your employees and vendors on a specific basis. Don’t forget, that if they’re users of Payoneer, you get to save on transaction fees! So, start cutting on expenses as much as earning!

Fees & Charges

  • Receive Payment: 1-3% (Free if via another Payoneer User)
  • International Transfer: 1.5 USD/EUR/GBP or Up to 2% (Free to another Payoneer User)
  • Withdraw to Bank: 1.5 USD/EUR/GBP or Up to 2%

4. Razorpay

Best Payment Gateway: Razorpay

Year Founded: 2013

Country: India

Essentials

  • Supported e-Commerce Platforms: 11
  • Supported Currencies: 90+
  • Supported Countries: 100+ (But Only Indian Companies Can Use Razorpay)
  • Local Payment Methods: 100+
  • Digital Wallet: No
  • Mobile App: Yes

Use Factor

  1. Built for Indian Commerce – With over 100s of India’s most accepted payment methods, Razorpay is the ‘no-brainer’ choice if your business is incorporated in India. From Airtel Money, FreeCharge, JioMoney, Mobikwik, Ola Money and PayZapp, to international methods like Diners and Amex, you can go global with Razorpay too! Above all, conversions readily supported in over 90 currencies to INR that just make safeguarding easy and risk-free!
  2. Get Paid via QR Code & URL – Like PayKun, generating URLs for payment is possible with Razorpay except that Razorpay offers generation directly in QR code too. Such methods are modern and will make businesses seen as forward-looking. A ‘must use’ feature if you have not implemented in your businesses yet!
  3. Collect Recurring Payments – Selling Software as a Service or even membership? Now you can collect any recurring payments with this payment gateway. All you need is set the payment schedule, billing cycle and see the respective payments made via notifications. Moreover, its convenient for your customers too albeit careful consideration for payment reminders to prevent annoyance.

Fees & Charges

  • Receive Payment: 2% Per Transaction
  • International Transfer: N.A
  • Withdraw to Bank: N.A

5. SecurionPay

Best Payment Gateway: SecurionPay

Year Founded: 2014

Country: Switzerland

Essentials

  • Supported e-Commerce Platforms: via API only
  • Supported Currencies: 160
  • Supported Countries: 39
  • Local Payment Methods: Limited
  • Digital Wallet: No
  • Mobile App: Yes

Use Factor

  1. Multi-Billing Models – Subscription, one-time, pay-per-use or mix, this payment gateway can handle it! SecurionPay’s your flexible payment provider!
  2. Anti-Fraud Tools – There’s too many anti-fraud measures in SecurionPay so we’ll only share a few. There’s fraud scoring to identify possible malicious transactions. Additionally, any scoring is computed and ‘learnt’ by machine learning capabilities to further strengthen fraud detection and prevention. There’s also built-in 3D Secure which are added layers of security for card payments. Of course, you can also blacklist certain transactions based on rules like IP, region and email addresses etc.
  3. Support for High-Risk Merchants – If your business is in online gaming, travel booking, to dating, forex and financials, you would likely qualify as a high-risk merchant by any payment gateway. With SecurionPay, you’re offered support to see through your usage with them with a special merchant account that will see you having high chargeback protection and global coverage.

Fees & Charges

  • Receive Payment: fr 2.95% + 0.25 EUR Per Transaction
  • International Transfer: N.A
  • Withdraw to Bank: N.A

6. Square

Best Payment Gateway: Square

Year Founded: 2009

Country: USA

Essentials

  • Supported e-Commerce Platforms: 40
  • Supported Currencies: AUD, CAD, EUR, FKP, GBP, JPY & USD
  • Supported Countries: 8
  • Local Payment Methods: Limited
  • Digital Wallet: No
  • Mobile App: Yes

Use Factor

  1. POS Available – Square is so good especially if you haven’t yet had your own site. You can start building one all without writing a single line of code with Square and then using their payment gateway with it. Moreover, its hardware and mobile app have point-of-sale capabilities to support its various available payment modes. Nonetheless, both hardware and app aren’t supported in all countries. For the list of supported countries, refer to this Link. As well, if you do indeed need your own website, we’d recommend these no-code builders Here.
  2. Buy Now, Pay Later Possible – Would the option of having your customer pay in instalments while you receive the payment in full right-away gets you more sales? Yes, good for big item purchases. Square works with Afterpay, an Austalian fintech company, to enable BNPL for their users. Nevertheless, there’re some BNPL transaction fees involved but nothing not worth paying if it doesn’t land you more sales!
  3. Dispute Management – Like PayKun, Square fight disputes for your transactions! Above all, Square also handles you and your customers’ bank which can be complicated and heavy, saving everyone the time and energy they could use to contribute work in areas that matters!

Fees & Charges

  • Receive Payment: fr 2.6% + US$ 0.10 Per Transaction (POS)
  • International Transfer: Free
  • Withdraw to Bank: Free

+BONUS

The below options are not payment gateways but integrable payment solutions. They enable online payment processing while adding a host of commerce tools that just make selling easier for you and better for your customers. That is, they do require integration with a payment gateway to enable online payments. Read what they do and you may find them a good supplementary add-on to any of the selected payment gateway above.

7. Tap2Pay

Best Payment Gateway: Tap2Pay

Year Founded: 2017

Country: Poland

Essentials

  • Supported e-Commerce Platforms: 3
  • Supported Currencies: Depends on Chosen Gateway
  • Supported Countries: Depends on Chosen Gateway
  • Local Payment Methods: N.A
  • Digital Wallet: No
  • Mobile App: No

Use Factor

  1. Get Paid on Social Media – How does selling on social media sound for you? Well, if you’re an influencer already, you could readily tap on your existing follower base! Tap2Pay enables selling on Facebook, Instagram, Telegram, Viber, WeChat and WhatsApp, all without any codes! Furthermore, you can tap on the ready tools in these channels such as chat and notifications to power your selling effectively!
  2. Enable Recurring Payments – Yes, customers’ details are saved in Tap2Pay too like in a CRM. So, requesting for recurring payments are a matter of sending your customers a scheduled message through the chat in social media. Whatever it is, you do get the analytics in Tap2Pay to enable continual development and improvement in your selling!
  3. Auto Email Invoices & Tickets – As mentioned before, in-app notifications play a huge role in selling with Tap2Pay. Additionally, you can also setup auto emailing of invoices and entry tickets for a full-fledged registration, not just payment!

Fees & Charges

  • Receive Payment: 2% Per Transaction + Gateway Fees
  • International Transfer: Depends on Gateway
  • Withdraw to Bank: Depends on Gateway

8. Zoho Checkout

Best Payment Gateway: Zoho Checkout

Year Founded: 2016

Country: India

Essentials

  • Supported e-Commerce Platforms: N.A (Payment via Created Pages Shared to Website, email etc.)
  • Supported Currencies: Depends on Chosen Gateway
  • Supported Countries: Depends on Chosen Gateway
  • Local Payment Methods: N.A
  • Digital Wallet: No
  • Mobile App: No

Use Factor

  1. Integrates with Zoho SuitesZoho Checkout is your natural choice if you’re using any of Zoho’s software suite or if you’re haven’t yet got your tech stack! Try Zoho Checkout with Zoho Books for payment to be handled with taxes and accounting. On the other hand, Zoho Campaigns would add nicely to add and segment your customer details to a mailing list. Also, consider Zoho Sign for digital signing of contracts within a secure and reliable space that are recognised legally upon payment. Whichever case suits, start considering a tech stack with Zoho for a tech-enabled business. If need be, just go for Zoho One, all-in-one subscription, for best value deal!
  2. Choices in Gateway – As mentioned, Zoho Checkout isn’t a payment gateway but it is capable of natively integrating with 12 of them including Razorpay and 2Checkout. The thing is; you can integrate with a few if it meets your needs to provide for more local payment methods, currencies or supported countries.
  3. Auto-Payment Retry – This last reason is a big one to reduce cart abandonments and hence, preventing revenue loss. Zoho Checkout is scripted to retry for payment in instances of card failure for whatever reason. Like seriously, this feature alone makes payment solutions worth going for!

Fees & Charges

  • Receive Payment: fr Gateway Fees Only for 50 Transactions/mo to US$ 9/mo +Gateway Fees for 500 Transactions
  • International Transfer: Depends on Gateway
  • Withdraw to Bank: Depends on Gateway

Final Comments

The above are some of the best payment gateway in the market. As you can see, each of them can be quite different and are built to cater to different users. Nonetheless, banking and payment technologies are constantly advancing to keep up to evolving fraud and other risks challenges. Always think long term, but try out small time before committing. Afterall, you truly really know only if you went through it. Our question to you is: “Are you ready to have a go with one of these for your business?”

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Payment is all about money and money is a big thing. So, what are your criteria to choosing a Payment Gateway? COMMENT below.

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May we suggest these Tags for your next reading please?: e-Commerce, Sales, Accounting

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