Coronavirus has changed the way we used to shop in the year 2020. People started shopping online because of the lockdown. Every business affected and resulted in revenue loss. Learning from the lockdown, small businesses came up with eCommerce stores as a viable option. Many businesses are still starting their brand-new websites.
No doubt, if someone has an online store then they are going to receive payments through gateways. Online payment gateways are the best option to receive payments from users without much headache. Payment gateways are easy to set up and can be connected to your eCommerce store, whether it is on WordPress, Shopify, or custom.
In this post, we are going to look at the payment gateways that are most trusted by businesses and offer payment processing services such as well as gateways and merchant accounts.
Without further delay, let’s discuss…
Top 5 payment gateways of the World in 2021:
PayPal:
When you are looking to receive payments instantly from worldwide customers of your website, Paypal is the #1 option. PayPal is built on powerful technology that lets you accept credit and debit card payments all around the world.
PayPal offers to buy now pay later like advanced options to credit card holders, which makes it easy for your customers to buy things on the go. You can also receive payments from Facebook, Twitter, Instagram, etc. when displaying ads or if they have a limited customer base.
Some advantages of having PayPal:
- Ease of set up
- Brand name & recognition
- Pricing Policy
- Large customer base
- Ease of payment execution
- Multiple account options
- Accepts international payments & cards
- Highly secure
- Integrating payments with eBay
Stripe:
Stripe was launched in 2011, it supports receiving payments over in 135+ currencies and 35+ countries as of 2021. According to Forbes Stripe became a $22.5 billion worth company and will lead the Asian eCommerce market.
In addition to offering payment processing easy, fast, and secure payment acceptance. It also works with Google Pay, Apple Pay, and Masterpass to offer more payment options or checkout and cart pages.
Some advantages of Stripe are:
- Easy to setup & recurring payments
- Stripe can offer your customers discounts and coupon codes
- Excellent reminder system
- Enables you to set up subscription payments
- Seamless checkout experience means increased conversions
Amazon Pay:
Amazon Pay is the world's one of the biggest eCommerce stores, and they are already processing millions of payments daily. According to Amazon, merchants who use their payment gateway have experienced increased conversions, faster checkouts, and reduced cart abandonment.
Amazon Pay offers faster mobile checkouts. And also provides fraud-detection technology & also offers an A-TO-Z guarantee on qualified orders.
Some advantages of using Amazon Pay on your eCommerce website:
- Ease of use & Speed of transaction
- Security & Trust
Square:
Square is a major player in sending and receiving payments all around the world. Square was founded in 2009 and currently provides payment processing all around the world till 2021. With square API, any eCommerce website can easily integrate this payment gateway for payment processing.
Square is a cheaper option than other payment gateways, except PayPal.
It enables you to sell products online and in-person with two-way inventory synchronization and provides a robust suite of tools to grow your business. Square also provides hands-on management and improves customer engagement & online invoices.
Benefits of using Square as a payment gateway:
- Account creation and verification less time
- No hidden fees
- Payments are highly secure
- Prevention of fraud
- Easy management of payment disputes
BlueSnap:
BlueSnap is one of the best global platforms to accept payments from anywhere and on any device, offering payment processing and multi-currency support globally. It supports over 100+ currencies and shoppers can select from 16 different payout currencies. In just one account with BlueSnap, merchants can accept major credit card payments, as well as debit cards. You’ll also get world-class security and detailed reporting and analytics.
Some Benefits of BlueSnap:
- Expand the value of your eCommerce Platform
- Fully secure and convenient to integrate with any custom website
- Revenue Sharing model
- Easy to use and client-friendly
Finally, there are many eCommerce website development services company in India and they will help you from creating an account to set up the whole payment process system.
