Giving your credit card information over online shopping has become so ingrained in our daily lives. Many of us do not hesitate to do it because we trust those globally trusted payment gateways. This trust did not establish easily. The demand for online utilities has been advertised progressively fast, culminating with a request for free delivery to your home. This is the dynamics of online business. Getting good ROI is important to your entire business.
Isn’t that why you started selling online in the first place? All you need to implement the most trusted payment gateway to earn more money and customers’ trust.
However, there are many methods for receiving money online. Whether you have an existing eCommerce platform or start from scratch, your payment gateway should be a top focus.
What is Payment Gateway?
A payment gateway is a merchant service that receives credit/debit card payments for eCommerce, online subscriptions, and even physical stores. Stripe, PayPal, and Square are amongst the most user-friendly payment gateways.
All you have to do is enter your credit card information on the payment gateway or checkout page and make the purchase. After deducting some fees, the payment gateway will deduct the total from your credit card and send it to the drop shipper’s bank account.
To assist you, we’ve collected a list of the top three payment gateways from which you may select the one that best meets your e-commerce demands.
Square
Square is an all-time favorite for many users; it’s a top-of-the-line payment gateway for WooCommerce stores. For stores with physical locations, delivery, and other selling alternatives, it is also recommended.
Square payment is easily accessible in the United States, Canada, United Kingdom, Ireland, France, Australia, and Japan. The transaction charge differs as per country rules, but it has a fixed transaction fee.
WPEasyPay Square plugin is the best choice to sync your website’s products with your
square account. You can also increase products to your square portfolio and upload them to your WooCommerce store.
Stripe
Stripe started operations in 2010 to provide an easy solution for new businesses to receive online payments with just a few lines of programming. Since then, it has created a number of tools that make it easier for start-ups and small businesses to facilitate online transactions. It is now utilized by small local companies and some of the world’s most well-known brands, including Amazon, booking.com, Google, and much more. Stripe provides many scalable financial solutions for online and in-person payments when you design a custom solution for your small business or interface with an e-commerce platform.
PayPal
Despite the fact that PayPal was actually founded in 1998, it was developed and officially released in 1999. It is one of the most favorite global payment gateways, accepting all types of credit and debit card payments. Shoppers can use it for free. Though, when accepting credit card payments through PayPal, business owners must pay basic transaction charges of 3.4 percent + $0.30 USD.”
When the default payment option is unreachable, PayPal will recommend the preferred payment choice based on the regularity of use. Because of the pricing tariff it employs when dealing with foreign payments, PayPal’s pricing policy can be difficult to understand when you use it for the first time. However, it is less expensive to set up for e-commerce but more expensive to develop on your personal website.
Summary
Simply put, if your e-commerce website cannot receive payments or provide safe and secure payment processes for your clients, your entire eCommerce business is rendered ineffective. You must check each payment gateway’s credibility and performance before aligning them with your business concept. Integrating a secure, reliable, and smooth payment gateway on your website builds confidence with your clients and boosts the chances of converting visitors into customers.