7 Best Payment Gateways for Websites

Running a website and selling things online means you need a safe and easy way for people to pay you. Think of payment gateways as digital cashiers. They handle transactions securely so that customers can buy from your site without worries.

Now, let’s discuss seven excellent payment gateway options that make online shopping simple and safe. Let’s begin!

What Is A Payment Gateway?

A payment gateway is a technology used to process money transactions, providing one of the various methods for making online payments. It’s a go-to for both individuals and businesses, offering a convenient way to save time and effort.

Lots of payment options are out there for websites. And if you’re into trading different currencies like forex or crypto, you can find multi-currency payment gateways too. According to the Grand View Report, the global market for payment gateways was worth $22.09 billion in 2021.

And experts think it will keep getting bigger by about 22.1% each year from 2022 to 2030.

How Does A Payment Gateway Work?

1. Customers purchase products and services on a merchant’s website, such as Forex VPS.
2. The merchant’s website redirects customers to the payment gateway’s secure website.
3. The customer enters their payment information – credit card number, expiration date, and security code into the payment gateway’s website.
4. The payment gateway verifies the customer’s payment information and checks for fraud.
5. If the payment information is valid and no fraud is detected, the payment gateway sends a request to the customer’s bank to authorize the payment.
6. The customer’s bank responds to the payment gateway indicating whether the payment has been authorized.
7. If the payment is authorized, the payment gateway sends a notification to the merchant’s website indicating that the payment was successful.
8. The merchant’s website processes the order, and the customer receives confirmation of their purchase.

How To Implement A Payment Gateway To Your Website?

To implement a payment gateway to your website, you will need to follow these steps
(These are the general steps to implement a payment gateway to the website)

1. Pick a payment gateway provider like PayPal, Stripe, or Square and sign up.
2. Add the payment gateway’s code to your website’s checkout page to process payments.
3. Test to make sure everything works right.
4. Keep your website safe by following PCI compliance rules to protect credit card info.
5. Put the changes on your live website.
6. Start accepting payments through the gateway on your website.

Note:- 

• The steps may vary depending on the specific payment gateway provider you choose and the programming language or framework you use to build your website.

Top 7 Highly Rated Payment Gateways:

Numerous payment gateways are accessible for websites, and the ideal choice for your website or business will vary based on your requirements.

Below are lists of seven popular options for taking payments online.

1. PayPal

PayPal is a financial service company that enables people and businesses to make and receive payments online. It was founded in 1998 and is now one of the largest online payment gateways in the world; it is available in more than 200 countries and supports over 25 currencies.

With PayPal, users can send and receive payments and transfer money to other users. In addition, PayPal offers financial services such as credit and debit cards and mobile banking.

Pros of PayPal

• Easy to use with specific features.
• It provides high security and keeps your money safe.
• It keeps your bank information and other data safe.
• Let’s send money to family and friends without any charges.
• PayPal provides Digital wallets to its users.

Cons of PayPal

• There are charges on transactions if you use PayPal for business transactions.
• If you want instant access to money, you have to pay 1% of your transaction amount as fees; free bank transfers may take some days.
• PayPal can freeze your account. In addition, they can withhold your amount if you have done anything wrong.

Best for –

PayPal has the “e-commerce veteran” status; it is a widely accepted digital payment method for North Americans.

2. Stripe

Stripe is another payment processing platform that enables businesses to accept payments online and through mobile apps. In addition, it allows merchants to process credit card transactions and payments made using other payment methods such as ACH bank transfers, Apple Pay, Google Pay, and more.

Stripe is a popular choice for businesses of all sizes, as it offers a variety of features such as recurring billing, fraud protection, and the ability to accept multiple payment types. Additionally, Stripe deals with 135+ currencies.

Pros of Stripe

• Its features are easy to use and understand.
• Multiple support options and 24*7 service.
• Live chat support for complex issues.

Cons of Stripe

• Stripe is not as user-friendly as PayPal.
• Available in only a few countries.
• It takes too much time to access your money.

Best for –

Stripe is best for receiving payments with advanced features.

3. Square

Square is the payment gateway that is used widely for international monetary transfers. It offers easy integration and a variety of features, such as invoicing and inventory management. Even some small businesses use Square for payments.

You can make payments by completing these steps.

Pros of Square

• No monthly or annual fees
• Account creation and verification are not time-consuming
• No hidden fees.
• Easy to manage payment disputes.
• Your payments are secure.
• Easy to use and user-friendly interface.
• Free swipe card reader
• No contract to use Square service for your business.

Cons of Square

• Customer support is not good.
• Expensive add-on service.
• Predictable fixed-rate 2.6% + $0.10 per swipe, which can be increased for more significant business.

Best for –

Square is best for new and occasional sellers.

4. PayU

PayU is a payment gateway by a fin-tech company in the Netherlands that offers online payment services. It works in 17 countries allowing over 100 currencies, and has more than 100 payment methods, including net banking, EMI, UPI, and Buy Now, Pay Later.

PayU has an easy and beautiful user interface. It also allows merchants to integrate their website and mobile app.

Pros of PayU

• It tracks your earnings on the dashboard.
• You get more than 100 payment method options.
• 24*7 customer support service.
• The success rate of PayU is higher, and transaction speed is faster.
• PayU offers you a customized checkout page.
• You don’t have to pay any setup costs since it’s free. However, you have to pay 2% + GST on your transactions.

Cons of PayU

• Sometimes, verifying your account and making the transaction confirmation takes too much time.
• Customer service is inefficient and takes too much time to solve your problem.
• PayU also fails about 40% of the time.
• Netflix, Airbnb, and Dream11 have been leveraging the PayU payment gateway.

Best for –

PayU is best for big and small businesses.

5. Authorize.net

Authorize.net is the best global payment gateway for your website if your business has complex payment needs. It’s an electronic check payment system that accepts payments from other bank accounts through the website or the Authorize.net virtual terminal.

Authorize.net is owned by Visa and gives businesses flexibility while providing vital infrastructure and security. In addition, your translation of payment is speedy and secure with Authorize.net.

Authorize.net has over 370,000 merchants.

Pros of Authorize.net

• Transparent and fixed-rate pricing.
• Provides 24*7 customer support.
• No charges for early termination.
• Easy to use.

Cons of Authorize.net

• You have to pay a $25 monthly fee, even if you don’t use it.
• It doesn’t have a robust point-of-sale system for in-person transactions.
• Outdated user interface.
• They offer their service in just 3 locations – the UK, Australia, USA.

Best for –

Authorize.net is best for small-to-medium-sized businesses.

6. Skrill

Skrill is another well-known payment gateway that offers multiple online payments and money transfer services. It was launched in 2001 and now many top companies are Skrill’s customers.

Skrill is one of the most successful payment gateways in the UK; it supports more than 30 currencies all over the world.

Pros of Skrill

• Users can transfer money by using an email address or phone number.
• Skrill is straightforward and fast to use.
• It is one digital wallet payment gateway awarded by many well-known companies.
• You can create an account in Skrill without any charges.

Cons of Skrill

• Skrill’s verification process takes a little long time.
• It provides limited customer service.

Best for –

Skrill is best for global money transfers.

7. BlueSnap

BlueSnap is a global payment gateway designed to help businesses with online payments. It provides all-in-one payment platforms. BlueSnap serves 180 countries, accepts 100 currencies, and is available in 29 different languages. BlueSnap is a highly secure payment gateway with a fraud prevention system. In addition, BlueSnap connects with 30+ global acquiring banks, making international transfers faster.

Pros of BlueSnap

• Faster payment procedure.
• BlueSnap can manage bill payments, subscriptions, multi-currency translation, etc.
• Impressive documentation.
• BlueSnap offers risk service management.
• BlueSnap offers an embedded checkout feature.

Cons of BlueSnap

• BlueSnap has a complex dashboard.
• Sometimes BlueSnap takes time to solve customers’ complaints.
• The automatic report generation option is unavailable; you must create a report manually.
• BlueSnap does not provide 24*7 customer support.

Best for –

BlueSnap is best for accepting all kinds of payments such as e-commerce transactions, subscription billing models, and other online payments for different business needs.

Conclusion

The best payment gateway for your website depends on your specific needs and circumstances. Therefore, it is essential to carefully consider your options and choose a payment gateway that meets your business and customers’ needs.