Efficient payment processing and access to a reliable payment gateway are essential to running a successful ecommerce site. In short, you can't start making sales and building your revenue until you have the right ecommerce payment gateway in place.
It’s that simple. But is choosing one option from the many available online also a simple task?
If you know your customers, the correct best payment gateway will be much easier to find. Let’s break this down in more detail and show you how it works.
What is a Payment Gateway?
In short, a payment gateway serves as the core component in the payment processing process, whether you manage a purchase online or in-store.
The front-end mechanism of a transaction is the part responsible for gathering and sending customer data to the merchant's bank for authorisation and processing in real-time. Still, there are various types of these gateways, which we will touch upon now.
It’s that simple. But is choosing one option from the many available online also a simple task?
If you know your customers, the correct best payment gateway will be much easier to find. Let’s break this down in more detail and show you how it works.
What is a Payment Gateway?
In short, a payment gateway serves as the core component in the payment processing process, whether you manage a purchase online or in-store.
The front-end mechanism of a transaction is the part responsible for gathering and sending customer data to the merchant's bank for authorisation and processing in real-time. Still, there are various types of these gateways, which we will touch upon now.
The Importance of Payment Gateway Research
There are three types of payment gateway options. Each one comes with its own key features and limitations, all explained below:- Onsite Payments – more control over the user experience, but more responsibility to manage customer data and the whole process.
- Offsite Payments – a more simplified option with added security, but you lose out on managing the whole user experience.
- Redirects – the easiest option for smaller e-commerce sites, but it comes with added steps for the user to complete the transaction.
The Best Payment Gateway Options in 2023
It's essential to find a well-known and trustworthy brand. With the proliferation of hacking, identity theft, fraud, and phishing attacks, it is more important than ever to equip your digital storefront with a secure ecommerce payment gateway.
We have compiled a list of the best payment gateways for smaller and larger online businesses. Here are the options you should consider when seeking to grow your revenue:
Security, integration, currency support, fees, and specialised features for ecommerce are all aspects you must consider. Take the guesswork out of the search and let our ZeroGrey experts put you on the path to success with the right payment gateway for your business.
Tailored ecommerce solutions are what we do best, so get in touch today.
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We have compiled a list of the best payment gateways for smaller and larger online businesses. Here are the options you should consider when seeking to grow your revenue:
PayPal
You've probably heard of PayPal. It is ubiquitous and hard to avoid for any internet user. Founded and originally made available in 2002, PayPal is an international payment gateway. Since then, it has continued to develop and expand and is now accessible in over 203 nations. Many businesses use PayPal since it is one of the most trustworthy methods out there right now.Stripe
Stripe is a more recent competitor to PayPal that has gained popularity due to its support for virtual currencies like Bitcoin. Due to Stripe's free trial period for all new users, it is possible to get a feel for the gateway first. With its dynamic API, Stripe can always uphold its security and encryption requirements whenever it is used by customers and clients alike.Square
Square is a payment option to consider if you sell your items both online and in person. By providing a physical payment terminal, it also allows businesses to accept payments without resorting to internet transactions or a traditional point-of-sale system. Square is easy to use and works with several e-commerce platforms, including WooCommerce and OpenCart.Skrill
Skrill is a mobile-based international payment gateway service that is supported in over 40 countries. It is one of the cheapest options available, making it ideal for drop-shipping and smaller enterprises. Skrill also facilitates money transfers to “high-risk” zones, which may be of interest to companies offering services in those areas.SecurePay
SecurePay is a viable option if you're searching for a reputable and trustworthy payment brand. It meets the needs of individuals searching for a reliable small- and medium-sized business payment management and acceptance solution. For those looking to get started, SecurePay provides simple registration choices, shopping cart connectivity, and a free trial.What is the secret to choosing the best payment gateway for your e-commerce?
Choose wisely because utilising a payment gateway is the future of every online store. When your customers have trouble making a payment, they are more likely to abandon their carts, which can hurt your sales significantly.Security, integration, currency support, fees, and specialised features for ecommerce are all aspects you must consider. Take the guesswork out of the search and let our ZeroGrey experts put you on the path to success with the right payment gateway for your business.
Tailored ecommerce solutions are what we do best, so get in touch today.
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