Top 10 eCommerce payment gateways

payment method are third-party enablers that allow you to acknowledge your customers’ payments online. A payment gateway will usually have a selection of payment alternatives, including:

• cash cards
• Credit Cards/Debit Cards
• net banking

When the customer wants to pay from an online store, they can select the option that suits them best and pay you. In a way, the payment gateway works like a bridge that connects your bank and your store so that the buyer can make their purchases without problems. Instead of the service, the payment gateway charges you its fee through a transaction discount rate (TDR) on the transaction amount.

Online payment method they are essential, if your business depends on an e-commerce website and requires raising funds on the website rather than services or products available to process the payment made by your customers. This helps customers to pay without difficulty and later the seller/supplier/manufacturer can access the cash paid by the customer/buyer, request a check or withdraw it from their bank account.

Below are the top ten and common eCommerce payment processors in the world:

1.PayPal

This is a top-tier payment acquirer and the most popular worldwide. In 2011, PayPal was able to transact $4 billion in terms of payments.

2. Authorize.Net

It became popular in 1996 and has since transacted funds worth billions. To register an account, you must pay a one-time startup fee of $99, monthly charges of $20, and $0.10 for each transaction.

3. Brain Tree

There is no setup cost for the merchant account service and online payment processor. Transaction fee for each transaction includes 2.9% + $0.03 for qualified cardholders.

4. Smart payment

There are over 40,000 companies that use Sage Pay because it is believed to offer secure payment services. It is reported every month that this payment gateway can process up to millions of transaction payments.

5. Google Pay

The account is connected to a Google profile that allows Internet users to pay for services and purchase products online.

6. Amazon Pay

This payment processor was started in 2007. This is an Amazon.com product, which allows account owners to send money via ACH and receive funds using the Amazon API. The transaction fee is around 2.0% + $0.03 for transactions above $10, while for payments below $10, the transaction fee is 5.0% + $0.05.

7. We pay

This payment gateway is used to receive payments for products, donations, tickets for events, etc. There is no setup fee or monthly charges.

8.2Pay

2CO or 2CheckOut allows users to receive PayPal payments and credit card payments. It also provides facilities for recurring billing, shopping cart stores, and international payments.

9. Dwola

Transact and process payments of 1 million dollars a day. The transaction fee or charges are not less than $10.

10. Moneybookers (Skrill)

This is the simplest payment processor with over 120,000 merchants worldwide with 41 different currencies and 100 payment options.