E-CommerceJuly 29, 2015

Top 5 Payment Gateways To Use In Your E-Commerce Store

Top 5 Payment Gateways To Use In Your E-Commerce Store

Paying a ton load for an expensive domain and hiring the top brass programmers and web designers to build your majesty of an ecommerce website but no sales from it, is same as crafting a lavish trophy shelf with no trophies to put in. Getting an infant ecommerce store started requires a lot of milk and honey to feed, but above all its essentials the need for a reliable payment gateway supersedes everything.

Quick Note: Best Payment Gateways For Magento 2 (Features & Comparison)

Payment gateways and online merchants

For becoming a successful merchant you have to make sure your merchandise does not remain shelved conjugating with dust and cobwebs, but gets sold the moment it is set on its display. When an ecommerce store with top of the line programming and state of the art web designs gets viewed by the customer it instantly sparks an appeal. But what if the customer is a potential buyer and finally decides to take one of your fine merchandises home? Well he can’t! Because the moment he attempts to purchase it online the overly complicated steps and perplexed procedure makes him do otherwise.

Choosing the suitable gateway for the customer

No matter how high and fetching your ecommerce store may appear, getting something reaped out from your online selling rests on how successfully you manage to present product and then send the products.

A successful sale to a new customer is the bonding stage of the relationship and an 80% chance dictates that the shopper will return. Through a thorough payment gateway your website will get the maximum amount of customers to trust the system while automatically raising its ranks among the competitors.

A payment gateway is the electronic vessel through which cash flows from the customer to the merchant through credit cards and other means of trade. Now the only way a potential buyer can meet its mark is by getting the online transaction done fast and neat. The question is how well can you facilitate him in getting the deed done? The answer to that is rather an easy one; get the best payment method installed on your ecommerce store. Here are the top 5 payment methods customers love to use.

1. Authorize.Net

With more than 400,000 online business owners and counting, Authorize.Net has become the most desired payment gateway for ecommerce websites. It all started with a humble beginning in 1996 and caught the eye of master programmer who set it afloat on an online platform. That moment onward, the software has dominated the internet with the most busy traffic and positive feedback. Authorize.Net not only incorporated credit cards but also uses electronic checks to help consumers purchase their goods. All you need to to in order to have it by your side is get $49 for the setup charges and another $29 for its monthly service, and hurrah! You are now a part of the most elite online transaction system.

2. PayPal

PayPal is considered the most ideal payment gateway up to date for majority online businesses. After the final launch of PayPal in 1998, it became the center of attention for many online merchants, held beneath the burden of overly expensive payment gateways with perplexed transaction procedures. PayPal Payment Gateway was the messiah to these problems and helped save millions of online businesses while encouraging others to erect online stores.

Payments through credit cards and debits card are both accepted, but the best part about this gateway is that is free for the customers. Most buyers already have cold feet when shopping online and when they are half through the purchasing process, they learn there is a fee for the service that totals their motives of buying the product. The store owners however, have to a pay a small amount “3.4% + $0.30 USD” for the service, but after the sale has been made. PayPal users are nearly as much as Authorize.Net it, but it gets held back to the second place due the user feedback gateways receive.

If you have a Magento based website and are interested in creating and managing paralle chained payments, pre-approvals and refunds etc, then I would like to recommend PayPal Adaptive Payments – Magento Extension by FME.

3. SecurePay.com

SecurePay.com is among the best payment solutions for ecommerce websites. The two elements, internet and merchant account are essential for customer payment gateway to function. It was introduced in a year earlier before it began operating in 1997 and includes shopping cart, electronic check services and mobile payments. Online business owners first need an account and after the sale has been made “.25%-1%” plus “$0.25” will be deducted.

SecurePay.com enhances the ability of the customer in making an online transaction. It is simple hassle free application steps done online without you physically moving to the bank with the easiest integration process. The majority card types are compatible with SecurePay including MasterCard and Visa and can also integrate with PayPal.

4. 2Checkout.com, Inc

Accepted in over 196 countries, 2Checkout.com has a mighty reputation for being fast and safe. Since it came into business in 1999, a large percentage of websites have opted for it and have been its part for almost 15 years. With reasonably low fee charges and a reliable payment service, this gateway takes “2.9% + 30¢” after a sale has been made. There are no hidden charges with this service or the traditional setup or monthly fees. It is simply a low cost easy to handle payment solution for your ecommerce website about to make its debut.

5. First Data Corporation

If you want the best quality service for your ecommerce website then First Data Corporation could be the soundest option. It happens to be the veteran of payment gateways having a history of more than 30 years since its birth in 1969. It officially started providing its transaction services in 1998 to the global markets and allows a far greater spectrum of payment option from credit card, debit card, gift card and several other options. The only thing you need to consider is its shinny fee structure that could possibly leave holes in your pockets.

Although the services are impeccable with around 6 million businesses using First Data Corporation, it is a very careful choice and some homework is required or else you’re just wrecking your business and burning the capital. Getting high quality services cost a lot here so make sure you consider all the factors into the equation before activating this service.