Enable Online Payment. Best Payment Gateway to Consider


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.

Image Source: Getty Images

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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!

  1. Payoneer
  2. Skrill
  3. Square
  4. 2Checkout
  5. PayPal

1. Payoneer

Best Payment Gateway: Payoneer
Image Source: Payoneer

Founded in 2005 in New York City, US, Payoneer is an unfamiliar name in the payment gateway industry. It is used by 5 million customers worldwide, both businesses and end-users alike, supported by their 24 global offices. Some of their most prominent customers include Airbnb, Amazon, and Google. In 2020, they were included in the Forbes Fintech 50: The Most Innovative Fintech Companies in 2020. So, will Payoneer’s innovation be what you need? Read on.

Key Features

  • Receive Payment via Bank Transfer in 9 Currencies
  • Multiple Partner Marketplaces
  • Integrates with Third-Parties via API
  • Pay VAT
  • App Version Available

Buy Factor

  • With Payoneer, businesses can receive nine types of currencies via bank transfer. These currencies are USD, EUR, GBP, CNH, JPY, AUD, CAD, SGD and MXN. Hence, if your customers wish to pay via transfer in any one of these currencies, it is perfectly ok. Convenient for them. No hassle for you!
  • Payoneer have a vast network of partner marketplaces. So, if you are conducting your businesses in one of them, you could receive funds directly to your Payoneer account. Some of their partner marketplaces include eBay, Amazon, Fiverr, Rakuten, Lazada, Shopee, Airbnb, and Google. You will be able to track all of them in one platform and decide how you wish to use these funds. Is it to withdraw them, pay another supplier, or pay for VAT? You decide.
  • Ready to use, Payoneer’s API can integrate with a host of software and tools. For instance, eCommerce, ERP, accounting, project management, banking, payment and others. What this means is more features packed in a unified platform. No more switching here and there and having so many instances of software opened.
  • A huge plus for those who need to keep to VAT compliance for Europe and UK. Payoneer allows paying VAT to the authorities directly. Thus, you save on bank withdrawal fees, transaction fees, and currency conversion fees. Think on your own! How much could you possibly save from this?
  • The Android and Apple version app allow users to check their transactions and even make them on-the-go. It is built to work like the web version with all features in. Technically, you get a minified version. So, no need to open a mobile browser for this case.

Things to Note

  • Only support 9 currencies which may cause inconveniences selling to certain countries.
  • Annual fees apply to the Payoneer Prepaid Card.
  • Unable to receive payment made directly except via another Payoneer account user. Receiving payment is supposedly via their API only.
  • Does not support Point-of-Sale (POS).


  • Receive Payment via Credit Card: 3% of transaction amount
  • Receive Payment via Direct Transfer: 0-1%/transaction (varies by country)
  • Accept Payment via a Marketplace: Varies by Marketplace rates
  • Accept Payment via Another Payoneer Customer: Free
  • Withdraw to Local Account of Different Currency: Up to 2%/transaction (varies by market exchange rates)
  • Pay via Transfer from Payoneer Account to Recipient’s Bank Account: Up to 2%/transaction (varies by market exchange rates)

2. Skrill

Best Payment Gateway: Skrill
Image Source: Skrill

A UK company with a firm foundation of two decades, Skrill is a highly popular payment gateway. Especially for cryptocurrency owners. With Skrill, end-users can buy and sell cryptocurrencies from the platform itself. Hence for those whose customers may likely be cryptocurrency lovers, take note of Skrill. Because, that’s where they will hang out and you want a payment gateway that are popular with them. Yet, Skrill offers so much for online payment. Will it suit you? Read and find out!

Key Features

  • Digital Wallet
  • Customer Pay Directly from Their Bank Account (Rapid Transfer)
  • Major Shopping Carts & eCommerce Partners
  • Multi-Currency Payment
  • App Version

Buy Factor

  • Digital Wallet is useful for both customers and users. Customers can pay quickly from the amount they have in their digital wallet via 1-tap. Likewise, users receive chargeback protection against fraudulent charges and disputes. Moreover, they can choose to manage their account in over 40+ multi-currencies. It’s a win-win.
  • Skrill partners with over 3,000 banks worldwide to add the feature of direct transfer payment for their users (the users’ customers to be exact), aka Rapid Transfer. It is convenient but secure by leveraging on the bank’s security measures. All users need is checkout by selecting Rapid Transfer. Then, select their banks from the list and key in their account number if required.
  • If you are using any shopping cart or eCommerce platforms for your site, check Skrill because they integrate with over 20 partners to make payment seamless on these platforms. By seamless, we mean smooth, easy and optimise for mobile version too! Some of these include Wix, Shopify, Woocommerce, and Magento among others. The setup is free and there are online manuals in Skrill’s website to help you do so. Nice!
  • As previously mentioned, Skill supports multi-currency. Best of all, they provide access to over 100 local payment methods. There is literally no excuse to skip the purchase due to no preferred payment method anymore! With Skrill, customers can choose the international recognised Visa and Mastercard, or Rapid Transfer and Skrill. If not, they can still choose from Klarna, Przelewy24, Alipay, Bancolombia, BBVA, Caixa, HSBC, Santander, and many others.
  • Skill app version is used by the customers and businesses. The features are complete and similar to the website. They also have a loyalty programme for the customers, so one more reason to use Skrill.

Things to Note

  • Skrill Prepaid Mastercard need to be applied at a fee, and there are also annual fees.
  • No option to support offline payment.
  • Not sure about their buyer/seller protection policies.


  • Receive Payment via Credit Card: Up to 2%/transaction (varies by Country)
  • Receive Payment via Direct Transfer: Free
  • Accept Payment via Another Skrill Customer: Free
  • Withdraw to Local Account: Fixed USD 5.50/transaction
  • Pay via Transfer from Skrill Account to Recipient’s Bank Account: Up to 4.99%/transaction (varies by market exchange rates)

3. Square

Best Payment Gateway: Square
Image Source: Square

Launched in 2010 in US, Square continues to disrupt the eCommerce industry with their no-code/low-code platform. It allows freelancers and entrepreneurs to build their website and market their services at totally low costs! Besides, it has its own payment method, Square Payments, that is fully capable of supporting online and offline payment. In 2015, Square went public with a listing on NYSE at USD 11.20 per share. Fast-forward to current date, Square now trade at around twenty times! Will Square excite you as much as it excites the many others? We say, start exploring Square!

Key Features

  • Offline Payment
  • Fraud & Dispute Management
  • Square Card
  • Host of eCommerce Features
  • Huge Third-Party App Library

Buy Factor

  • Square make payment fast, painless and secure. Unlike the others in this list, Square support offline payment! A huge plus especially for the retail stores with an eCommerce presence. As long as payment, whether online or offline) is made to your account, you can see it within one platform. No need to switch and have your accounts check in multiple places. Square users can pay over the counter, point-of-sale style, or even with just a link that can be sent to them via texts. Besides, if the customer wish to pay via phone, they can! Just get the required credit card details and key in accordingly into Square.
  • Built-in AI monitoring, powered by machine learning and strengthened with human expertise, Square fights fraud backend for a smooth and worry-free use. Additionally, in instances of dispute, they fight with banks for you! All you need is support them with the required documentations. Save a lot of time and troubles!
  • Square Card is a business debit card that users can use as a corporate payment card. It is accepted anywhere Mastercard is accepted! So, very handy indeed! Best thing is, no fees. Not annual or anything at all!
  • Not just a payment solution provider, Square is an eCommerce platform. So, if you do not have an eCommerce platform yet, consider Square. Their eCommerce tools are handy, from creating websites without codes, to taking online orders and setting deliveries, subscription-based selling, email marketing, loyalty programme etc., the list goes on. Alternatively, check out our LIST for some other superb web-builders!
  • Square integrates readily with a host of third-parties to enhance its features, making long-term use truly feasible. Just check their App Marketplace! Integrate with apps in accounting, delivery, invoicing, inventory, marketing, team management and many others! Of course, costs vary separately.

Things to Note

  • Does not support multi-currency account. Payment can be accepted from worldwide but can only be charged in the currency of the user’s country.
  • Square POS App supports POS and offline payment, but it does not function exactly like other payment solutions app which can make payment to suppliers or convert between currencies etc
  • Any payment out of Square account is possible with the Square Card only.


  • Receive Payment via Any Card Methods using Square Online or Square Invoices: 2.9% +USD 0.30/transaction (cheaper rate at 2.6% + USD 0.30 available if taking the Square Premium Plan)
  • Receive via Any Card Methods using Square Virtual Terminal, Card-not-present, or Card on file: 3.5% +USD 0.15/transaction
  • Accept Funds via Direct Transfer: N.A
  • Withdraw to Linked Local Account: Free
  • Pay from Square Account to Recipient’s Bank Account: N.A (except via Square Card. For recurring payment such as payroll, try Contractor or Employee Payroll add-ons).

4. 2Checkout

Best Payment Gateway: 2Checkout
Image Source: 2Checkout

2Checkout launched in 2006 as Avangate eCommerce Solutions, a company that helps businesses strive in online channels. It was recently acquired by Verifone, a global payment solutions MNC, in 2015. With a strong backing in payment, 2Checkout continues to refine themselves as a monetization platform. That said, 2Checkout is a focused platform for the selling of digital goods. If your business is operating on any of the SaaS, PaaS, or IaaS model, 2Checkout could be the perfect fit for you.

Key Features

  • Integrate with Over 120 Carts
  • Sell Worldwide
  • Huge List of Payment Methods
  • Ease of Tax Compliance Via Payment Models
  • Add-Ons Available

Buy Factor

  • No matter where you sell your stuffs, it is likely 2Checkout can integrate with it. Nonetheless, we wish to point out some of the most popular ones to save the hassle for you. These are namely Bigcommerce, Ecwid, Magento, Shopify, Wix, WooCommerce and even Zoho.
  • 2Checkout is a global payment gateway and can support your eCommerce presence internationally. Hence, use it to sell to 200+ countries. Customers have the choice to pay in the supported methods in their country and in their currency. See next point.
  • No worries. Most popular methods such as Visa, Amex and Mastercard will be supported. All in all, 2Checkout supports more than 45 different payment methods. The choice is on your customer. They will be happy they can choose, and you will be too!
  • Choose the payment model you need to help 2Checkout help you keep to tax and billing-related compliance. Only 2 selections; Merchant of Record Model and Payment Service Provider Model. So, select with a few clicks and the settings take effect automatically. Lots of time and headaches saved with this useful feature!
  • Not just concerned with payment, but 2Checkout could also help your business with increasing conversions, manage recurring subscription, renewal recovery, and they even lend their dedicated service support if you let it. Choose from their add-ons at additional charges and see how 2Checkout value-add to your business.

Things to Note

  • No App Version. Not able to check accounts, or make an emergency payment on-the-go easily.
  • Small List of Third-Party Integrations with Salesforce, Adobe Analytics, Ve Interactive, Sheer ID, and Marketo only.
  • Rather high fees to receive payment online starting at 3.5%.

Fees (2Sell Plan)

  • Receive Payment via Any Methods Online: 3.5% + USD 0.30/transaction
  • Receive Payment via Another 2Checkout Customer: N.A
  • Withdraw to Local Account via Transfer: Fixed USD/EUR/GBP 15
  • Withdraw to PayPal Account: Free (may incur fees from PayPal)
  • Pay from 2Checkout Account to Recipient’s Bank Account: N.A (except via 2Checkout MasterCard powered by Payoneer. Fees from Payoneer may apply).

5. PayPal

Best Payment Gateway: PayPal
Image Source: PayPal

Its weird to talk about payment gateway but miss out PayPal. We keep PayPal to the last because it’s a household name. It’s a top global brand, and comes with its price. Despite that, PayPal is a US company founded in 1998. It went public in 2002 and in the same year, were acquired by eBay, a global online Marketplace. Presently, PayPal is used by over 300 million users. Regardless, would you use PayPal as the benchmark for your review? Only way to find out below!

Key Features

  • In-Person Payment
  • Seller Protection Policy
  • Buy Now, Pay Later Option
  • 100+ Third-Party Integrations
  • 3 App Versions

Buy Factor

  • PayPal, the giant of the payment gateway, does not only support online payment. In fact, its in-person payment is fantastic and certainly competitive to other POS methods. All users need is the PayPal Here card reader and app which will be able to process credit and debit cards. Users can also generate a PayPal QR code from their account for customers to scan and pay with their PayPal app. It’s simple, and flexible.
  • In any transaction, there is always a potential for dispute. PayPal’s Seller Protection Policy protects you in these two disputes; Unauthorised transaction and ‘Item not received’. You can rest assured that funds are put on-hold while they attempt to look for certain requirements. Hence, read the fine print on this policy carefully. It will certainly come in handy. Nevertheless, having the Seller Protection Policy is a huge plus to using PayPal.
  • The Buy Now and Pay Later Option can be made available to customers where they can choose pay in ‘instalment-style’ at interest-free. However, users still get paid upfront. Again, this creates flexibility and make the customer shopping experience fulfilling and satisfying.
  • PayPal is the household name in payment gateway and they certainly showed it with their huge list of 100+ third-party partners to enhance their features. Whether is it a shopping cart, marketplace, POS payments, online forms, accounting and invoicing software etc., they have a nice mixture of it.
  • The PayPal app have 3 versions; One for personal use, one for business use and one for POS use (PayPal Here). It might not be convenient to have them all separated especially between the Business version and PayPal Here. But the backend is synced, i.e. any transactions, settings, etc. So, having 3 app versions is not really a problem. What’s important is that PayPal is powerful. Period.

Things to Note

  • Currency conversion fees always applies in PayPal regardless of receiving or making payment.
  • Fees to receive payment online can add up reasonably compared to the rest in this list.

Fees (PayPal Business)

  • Receive International Payment via Credit Card: 2.9% + fixed fee + 1.5% (varies by currency)
  • Receive International Payment via Direct Transfer: 2.9% + fixed fee + 1.5% (varies by currency)
  • Withdraw to Local Account: Free if no currency conversion. Otherwise, up to 4% conversion charges will apply).
  • Pay via Transfer from PayPal Account to Recipient’s Bank Account: Fixed USD 10 + any currency conversion fees

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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