The 6 Best Payment Gateways For Merchants 2024

Your monthly sales volume—in terms of the total number of transactions and dollar value—is another major factor that any business should consider when selecting a payment gateway. Supporting businesses of any size or type makes Shopify ideal for ecommerce ventures, whether it’s startups or established brands. Its scalability and complete set of ecommerce tools and features make it an appealing option for startups.

Payment Gateway Comparison: Top Providers Analyzed For 2025

Yes, API-hosted payment gateways allow merchants to customize payment forms and embed them directly into their websites for a seamless customer experience. Customers get to stay on the merchant website during checkout rather than being redirected to an external site. Customising and integrating a payment gateway into the merchant website helps create a sense of familiarity and security during the checkout process. This increases customer trust in the brand and can help lead to more sales. The ease and speed at which customers make online payments with digital wallets don’t only improve the customer experience but can lead to more sales as well. Payment methodsNot all payment gateways accept every type of credit card.

How To Choose A Payment Gateway To Accomplish Security And Efficiency?

• Sign up for the MONEI PLUS plan to route payments to the best-performing processor with MONEI’s payments orchestration feature.
• Two-factor authentication adds an extra layer of protection for transactions.
• At the same time, the complexity of your bookkeeping increases proportionally.
• 2Checkout accounts come with a large set of services, but it also has higher pricing to match all the extras you’ll get.

Within a transaction, it is the front-end mechanism that collects, transfers and authorizes customer information in real-time to a merchant’s bank, where the transaction itself is then processed. In 2022, it is estimated that more than 5th Digital Corp 80% of U.S. purchases will be accomplished using a method other than cash. Additionally, from 2020 through 2025, online payment transaction values are likely to grow more than 15%. Customers will be interacting with your payment gateway every day.

Boost Customer Satisfaction And Sales By Accepting More Payment Methods

A seamless and intuitive checkout experience can increase customer satisfaction and reduce cart abandonment rates. Look for a payment gateway provider with dependable and responsive customer service. Payment issues can arise at any time, so having 24/7 customer service ensures that you can quickly resolve any issues and provide your customers with a positive experience. End-to-end encryption is essential for protecting sensitive data from breaches.

We analyzed more than 25 of the leading payment gateways and narrowed it down to the top 10, which were analyzed across 41 metrics to rank the best payment gateways for small businesses. Our ratings consider factors such as transparent pricing, employee self-sufficiency, compatibility with third-party integrations, access to customer support and ratings. Statista research found that mobile wallets accounted for approximately half of global eCommerce payment transactions in 2023 alone. Accepting global payments unlocks the potential of your online store to tap into an international market.

If you’re starting small in Australia, but dream big and want more control over your multicurrency payments, give Pin Payments a try. This payment gateway lets you offer localized pricing for your customers worldwide and makes payments simple. Checkout.com is one more rapidly developing online payment gateway conquering the ecommerce arena. This payment gateway will be the best choice for businesses that want to test something new and focus on crypto. Square works with Apple Pay, Google Pay, and all major credit cards, and allows its users to accept payments not only by website, but also by invoice, or over the phone.

Consider a payment gateway provider with quick settlement times, which will ensure that funds are deposited into your account quickly and will allow you to manage your finances more efficiently. Read reviews and testimonials from other businesses to learn about the reputation of potential payment gateway providers. Look for providers with a history of dependability, security, and excellent service. For starters, it can significantly improve operational efficiency. Imagine manually processing and tracking each transaction for your business.

However, you can expect to have to pay them if you integrate a third-party gateway into your account instead of using the one offered by your merchant services provider. We believe that 2Checkout offers very strong international processing capabilities, as it can process payments from 234 countries and territories worldwide. 2Checkout accounts come with a large set of services, but it also has higher pricing to match all the extras you’ll get. If your business does not take many in-person transactions and you don’t need a dedicated merchant account, Stripe, a very popular payment services provider, might be the right option for you.

The company opens opportunities for facilitating payments between both personal consumers and businesses online. We’ll explore and compare the best payment gateway solutions available for small businesses. PayPal Link negates the need for any setup, and you can also waive the monthly fees, which is awesome. PayPal is compatible with many shopping carts, processors, and merchant account services. For all the services they offer, how do payment gateways make any profit?

Shopify Payments, for example, protects your customer’s account and payment details. It offers chargeback protection on eligible transactions, helping you protect your business against friendly fraud—an issue that costs retailers a collective $48 billion per year. The ecommerce payment gateway is available in over 200 countries/regions and supports 25 currencies. Beyond accepting credit cards, PayPal also allows payments through PayPal accounts, Venmo, and even cryptocurrencies. PayPal is one of the more recognized payment gateways in ecommerce, so your customers will feel safe purchasing from you.

While most merchant account providers no longer charge a setup fee to use one of their payment gateways, monthly gateway fees are still somewhat common. When comparing different payment processing companies and applications to one another, we consider numerous data points. Each provider is judged on its own merits and how well it stacks up to industry standards; then it is weighed against the other providers on the list. A payment gateway for your small business is a necessary service if you want to accept online payments securely. To find the most cost-effective choice for your business, both the volume and value of your transactions need to be considered. Most payment gateways have a competitive transaction fee rate of 2.9% + 30ç.