You may also meet such related terms as payment processors, payment providers, or payment platforms. Although not all of these terms are technically synonymous, yet in common life, they’re broadly used to describe similar solutions. These gateways offer straightforward setup, competitive fees, and easy integration. As the value of transactions increases, it becomes cheaper to work with subscription-based payment gateways that bundle their monthly fees with low transaction fees. Each payment gateway charges a different fee for credit, debit, and overseas transactions. Be sure to read up on what credit card processing fees you’ll be charged, to avoid a nasty surprise on your next invoice.
Shopify is the easiest payment gateway to set up if you already have a Shopify store. You don’t need to find third-party software; just toggle the payment gateway on within your Shopify admin. Only with Shopify Payments can you track your orders and payments all in one place.
If you’re processing $50,000 through the payment gateway per year, for example, a 2.4% fee would total $1,200 in transaction fees. If you 6 best payment gateways for small businesses go to the upper end and commit to a 3.49% fee, that’s an extra $545 you’ll spend on payment processing over the entire year. WorldPay is a payment service provider that has its own gateway.
You’re fundamentally changing how you handle money and inviting a massive, growing market of tech-savvy customers to your door. Authorise provides a security-focused payment gateway for small businesses. It’s owned by Visa and offers merchant accounts from its network of partnership banks. Owned and maintained by Visa, Authorize.net is a payment gateway that handles online, e-check, mobile, recurring, in-person, and virtual POS payments. It’s not as widely available as the parent company, though – only businesses in the US, Australia, and Canada can operate merchant accounts. PayPal is suitable for businesses prioritising a seamless checkout process across multiple channels with minimal technical overhead.
This feature not only reduces conversion fees but also streamlines financial management, making it an ideal choice for those seeking the best online payment processing options. Moreover, with its robust payment gateway API, BlueSnap provides a seamless integration experience, ensuring that businesses can build a payment gateway that meets their specific needs. While PayPal, Stripe, Square, and BlueSnap offer reliable payment solutions, NOWPayments stands out as the superior choice for businesses embracing the future of payments. Its support for over 300 cryptocurrencies, non-custodial and highly secure transactions, and flexible, developer-friendly integration make it unmatched in versatility and user control.
- Stripe also includes features for invoicing, subscriptions, and international marketplaces.
- With Helcim, you get everything you need to accept credit card payments, plus high-quality support from real humans.
- Even with this, UPI is still one of the cheapest ways to get paid.
- PayPal is suitable for businesses prioritising a seamless checkout process across multiple channels with minimal technical overhead.
Stripe Payments
Crypto payment gateways enable businesses to easily accept cryptocurrency payments from customers worldwide, regardless of their location or currency. This expanded market access can significantly boost sales and revenue. Crypto payment gateways are platforms that allow businesses to accept payments in various cryptocurrencies, such as Bitcoin or stablecoins.
Choose the best payment gateway provider for your business
A payment gateway is the technology that securely captures and processes customer payment information. Think of it as the virtual version of a point-of-sale (POS) terminal, working behind the scenes to approve or decline transactions. If you’d like to learn more about how to save money for your business, check out our article profiling the cheapest credit card processing companies. Every Helcim account includes a free virtual terminal, free access to Helcim’s proprietary payment gateway, a free online store builder, and free in-person POS software. You may be able to save if your customers use the more inexpensive payment networks. At the end of the year, you can expect the average fee to stand at 2.49% + $0.25 per transaction.
- The crypto world is incredibly diverse, and limiting options can mean turning away customers who prefer to pay with different altcoins.
- Some payment solution providers charge extra for faster settlements (like same-day payouts instead of T+2).
- The best payment processing software for small businesses offers easy integration, transparent fees, and support for multiple payment methods.
- This is courtesy of the Square Virtual Terminal, a PC solution developed for businesses that only need POS capabilities occasionally.
- Your customer hits ”pay with crypto,” scans a QR code with their wallet, and confirms.
- In addition to processing transactions, they offer a number of additional services.
Others offer rock-solid integration into accounting systems, which is something I pay special attention to in my line of work. ECommerce websites tend to have customers from all over the world, and they all want to pay using the method most convenient to them. Be aware that you’ll have to pay an additional currency conversion fee for international transactions. Our guide to international merchant services offers more detailed information and several recommendations. Strong security features are the most important thing to look for in a payment gateway. At a minimum, your gateway should use end-to-end encryption and be fully PCI-compliant.
Shopify Payments is its native payment gateway, meaning you can build a website, then take payments through it, all under one roof. This section will dive deeper into the best payment providers for small businesses, detailing their features, pricing structures, and security features. It’s refreshing when a platform like Melio offers things such as free ACH, and card payments carry a clear fee.
I’ve tested a bunch of gateways to see which ones really make life easier for businesses. Here are my top picks, starting with the one I recommend the most. Over the past few years, I’ve noticed how fast cryptocurrency has grown in finance- not just as an investment, but also as a way to pay online. More and more people want to pay by Bitcoin and other coins.
The best payment gateway needs to be compatible with your existing platforms. Paytm is a top payment gateway and an established name in India’s digital payments ecosystem. Square’s commission for online transactions is 2.9% + $0.30; for offline transactions – 2.6% + $0.10. Monthly subscription fee is charged from $29 to $69 depending on the chosen tariff plan. This helps store card details as secure tokens for future use, as per RBI rules.
Around 70% of online shopping carts get abandoned, and one of the reasons people walk away before purchase is a lengthy, complex, eye-sore checkout. If you work in higher education, healthcare, retail, government, or utilities, you should give some thought to Bluefin. While the company isn’t new (it was established in 2007) and doesn’t publicly disclose its pricing, the contracts are tailored to each merchant to ensure the best experience. 2Checkout is a payment provider that lets you operate in countries where Stripe, for example, doesn’t work. But they are all the same in one regard – they allow you to get paid online.