Discover the top 10 payment gateway providers for 2023. Secure and streamline your online transactions.
In today’s digital age, having a reliable payment gateway is essential for any business that wants to process payments online securely and efficiently. As we step into 2023, the options for payment gateways have expanded, offering advanced features and enhanced security measures. In this article, we'll explore the ten best payment gateway providers for ecommerce businesses in 2023, helping you make an informed decision for your business needs.
PayPal is a highly sought-after payment processing provider available in 200 countries worldwide. It lets users send and receive money from bank cards in dozens of popular currencies. According to Similar Web, PayPal ranks 69th in the "Banking Credit and Lending" category and holds a 31.48% market share in payment systems.
PayPal distinguishes itself through its unmatched versatility and global recognition. A payment solution that caters to a variety of business requirements, PayPal ensures secure transactions for both online and in-person sales. It’s easy to implement, with compatibility on all major ecommerce platforms, simplifying the process of connecting an online store to a PayPal Business account. This ease extends to financial services too, with applications for business loans, credit cards and debit cards.
There’s no need to introduce PayPal to anyone. It's one of the most affordable payment service providers – perfect for low-volume transactions with pay-as-you-go terms and 24/7 email and phone support. According to their site, having PayPal as a payment option in your online store can lead to an increase in incremental sales on both desktop and mobile by 23% – that’s surely enough to convince most people about the service.
With its user-friendly interface and widespread recognition, PayPal simplifies the checkout process, minimizing cart abandonment rates. Businesses can integrate PayPal into their websites or mobile apps with ease, allowing for a swift and efficient payment experience.
Stripe is a popular online payment gateway designed to streamline and simplify payment processing for businesses of all sizes. With its developer-friendly infrastructure and user-friendly interface, Stripe has become a favored choice for ecommerce companies, startups, and established businesses looking to accept online payments securely and efficiently.
Stripe offers a global payment system that can accept more than 135 currencies with transparent pricing and discounts for high-volume merchants. Most merchants appreciate its ability to handle international payments seamlessly. Stripe is the go-to payment solution for businesses around the globe. It provides a comprehensive gateway so you can accept payments from virtually any source, plus an extensive range of features like invoicing, subscription setup, and international processing – all designed to make accepting money as easy as possible.
Authorize.net has been on the market since 1996 and is among the most comprehensive payment service providers available. It offers versatile payment solutions: from recurring payments to digital invoicing, Authorize.net provides a variety of tools designed to accommodate various business needs. Owned by Visa, it allows businesses to accept payments from anywhere in the world, making it a flexible option for many.
Authorize.net is best for more complex payment needs, offering a robust set of features that can handle a wide range of payment scenarios.
Square is renowned for its user-friendly solutions that cater to businesses of all sizes. Designed for both online and in-person transactions, this versatile payment gateway provides an array of features to simplify payment processing, making it an attractive choice for businesses both established and new.
With its user-friendly interface and integration capabilities, Square empowers merchants to efficiently manage their sales and revenue.
Shopify is a versatile payment gateway provider that integrates seamlessly with its e-commerce platform. It offers a comprehensive suite of tools to help businesses manage their online stores efficiently. From inventory management to secure business financing, Shopify covers all aspects of running an online business.
Shopify allows for easy scalability by offering additional products and services to amplify the capabilities of businesses on its platform.
Shopify grants access to its APIs and development tools, making it easy for businesses to shape their online store’s capabilities to their exact desires. This allows for an improved customer experience and extended functionalities.
2Checkout is a global monetization platform established in 2006. It simplifies the checkout process for buyers and increases sales by serving over 180 countries worldwide. 2Checkout helps businesses receive online payments from bank cards in 200 countries. In addition to payment processing, the service offers customers access to over 120 shopping cart integrations for convenient checkout. The comprehensive 2Monetize pricing plan includes additional features such as account management, assistance with tax compliance, conversion optimization tools, and over 45 payment methods.
Stax is a low-cost, scalable payment gateway from Fattmerchant. Merchants pay a monthly fee and a per-transaction cost, but there are no markups on interchange fees. Per-transaction fees are $0.15 per keyed transaction and $0.08 per swipe transaction. Stax offers invoicing and integrates with QuickBooks Online to make accounting easier.
BEST FOR HIGH-VALUE TRANSACTIONS
Stax has a starting price of $99 per month with no transaction fees. This makes it an attractive option for businesses with high sales volumes (over $5,000 per month) and growth-oriented enterprises.
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Stax is a great solution for businesses with high sales volumes and growth-oriented enterprises. Small merchants can begin with low, predictable prices and add more features as their business grows.
Payline Data offers personalized payment processing solutions, including a feature streamlining the checkout process to improve customer experience. With a focus on reliability and security, Payline Data offers features such as fraud protection, mobile payment capabilities, and integrated payment gateways.
Subscription-based businesses seeking an adaptable and secure payment gateway with strong recurring billing and invoicing capabilities.
Payline Data’s platform offers an advanced API and Developer Docs feature, allowing businesses to build custom integrations with native or third-party software. This flexibility can be beneficial for subscription-based businesses which may require specialized software integrations to optimize their operations.
Helcim is best known for its low-cost payment gateway. It offers a wide variety of features, including the ability to create invoices, set up subscriptions, and process international payments. Helcim focuses on delivering a better payment service by making it easier to sign up, providing smarter payment tools, and making it more affordable to get paid.
Helcim's payment gateway API can integrate with a shopping cart, billing system, or compatible third-party software. Businesses with limited monthly volume benefit from Helcim’s no-minimum, interchange-plus pricing, while larger businesses can take advantage of the pricing tiers Helcim offers, which get cheaper the more you process.
Helcim is best for businesses that process a lot of transactions. It offers volume discounts to help reduce the cost of processing payments and has a wide variety of features that can be customized to best suit your needs.
Helcim offers volume discounts automatically the more you process, without needing to call their sales team.
Elavon is an international payment processor with services offered in more than 30 countries. It is an affiliate of U.S. Bank and is considered a top-five payment gateway provider. Elavon is not just another name in the sea of payment gateways; it’s a solution engineered for businesses that wish to incorporate their existing POS systems into a multifaceted payment system. It accommodates many types of transaction environments—be it a physical store, an online website, or a mobile app, allowing businesses to reach customers wherever they are.
Whether a company has been in the e-commerce field for years or is venturing into it for the first time, Elavon provides the tools necessary for a smooth transition or expansion. It protects both the business and its customers through its security measures. By employing advanced security measures, the platform ensures Payment Card Industry Data Security Standard (PCI DSS) compliance and protects payment data.
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Elavon is suitable for businesses aiming for a seamless transition between different payment environments and looking for a solution to effectively integrate with their existing POS systems.
Selecting the right payment gateway is a pivotal decision that can significantly influence the success of your ecommerce business. In 2023, the landscape of payment gateways is more diverse and advanced than ever, offering a wide range of features and security measures to cater to various business needs and customer preferences. Whether you are a small business owner just starting out or a large enterprise looking to upgrade your payment processing, it is crucial to thoroughly research and compare different providers to find the best fit for your specific requirements. By making an informed decision, you can ensure seamless and secure transactions, ultimately enhancing your customer experience and driving your business growth.
A payment gateway is a secure connection between your customers and their financial institutions, allowing you to accept credit card payments safely and securely online.
A payment gateway ensures secure and seamless transactions between your online store and your customers' payment methods, which is crucial for the success of your ecommerce business.
To choose the best payment gateway, consider your business needs, compare different providers, and evaluate their features, security measures, and pricing structures.
Yes, most payment gateways use advanced security measures, such as encryption and fraud detection, to ensure that transactions are secure.
Yes, you can use multiple payment gateways to offer your customers more payment options and to ensure redundancy in case one gateway experiences issues.
Many payment gateways support international transactions, but it's important to check with the provider to ensure they can handle payments from the countries you do business with.
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