Thinking about switching payment systems, or starting your first account? In this article, we’ll discuss a few of the most common payment methods you might want to consider for your next ecommerce development. Let’s jump right in!
Recommended Payment Solutions for Ecommerce Websites
PayPal is one of the world’s largest payment processors. In fact, they processed over $936 billion in payments during 2020! With 28 million merchants and 325 million active account holders on their platform, it’s no wonder PayPal has become a household name.
You want to make the buying process as simple as possible. With PayPal, it takes less than five minutes to register an account and make a payment, which makes it a great option for your online store.
PayPal is a simple and secure way to easily pay for transactions. At the time of writing, they charge you 30¢ and 2.9% commission for each transaction. This may seem a bit much, but we have to also consider that there is no setup or monthly fee!
Authorize.net is a payment gateway solution that has been around since 1996. It handles more than one billion transactions per year with its user base of 430,000 merchants.
The integration with Authorize.net is seamless and intuitive, making it an ideal choice for any e-commerce business owner looking to save time and resources on their backend services.
For a simple and all-inclusive solution to accepting payments, they offer merchant accounts with a payment gateway that’s 25 dollars per month. Plus, you’ll be charged 2.9% plus 30¢ for each transaction. If you only want the payment gateway access, then its $25 per month and 10¢ fee for every transaction.
Stripe is the second most popular Payment Service Provider (PSP) because it’s fast and easy to use. It integrates seamlessly with your website so that you can accept payments on any platform – even through email!
Businesses around the world can use Stripe – no matter where you’re located or what language you speak. You get access to 135 different currencies at once through this one application, which means there’ll never be any nasty surprises come check-out time. Furthermore, there isn’t any unexpected conversion charge on top of whatever price was originally displayed on the site.
Similar to PayPal, they charge 2.9% + $0.30 per transaction for the all-in-one solution. However, they also do a payment gateway option, which only charges $0.10 for each transaction.
Braintree is an innovative new payment processing service that puts both your merchant account and payment gateway all in one place. With their roots in the tech world, Braintree has been a trusted partner of online payment software for many start-ups, such as Airbnb and StubHub.
After the PayPal acquisition in 2013, Braintree is now part of their ecosystem. In contrast to other payment providers like Stripe and Square, Braintree caters only towards companies with high sales volumes that need customization capabilities as well.
You can use your card for free! In fact, there is no set-up or monthly fees. All you have to do is pay a small fee per transaction (2.9% and $0.30).
5.) Amazon Pay
Amazon Pay makes paying for things much easier. With this new service, shoppers will not have to take out their wallets and go through the lengthy process of entering all of their payment information every time they buy something online or by voice with Amazon Alexa.
Merchants can add a quick button on checkout processes that allows customers to make purchases using any saved credit card in their account without interruption from security questions each time!
Don’t forget to try different marketing strategies so more people can use your favorite online payment system!
Final Thoughts on Finding the Best Ecommerce Payment System
The best payment system for your online business will depend on a number of factors – from what type of buyer you’re looking to attract, the fees and costs involved, and integration with other services or software in use by your company.
Now that you have the perfect online payment system, it’s time for you to start automating your marketing strategy so you can start getting some purchases!