Top 10 online payment gateways 2023: The COVID-19 pandemic has caused a significant change in the trend in the payment market. It is interesting to know that the world is now a global market. Thus, both the service providers and the clients now utilize e-commerce and retail payment sites as preferred payment methods. There are a number of online payment platforms presently and more are expected to emerge in the nearest future. In this article, you’ll learn about the top 6 most popular online payment gateways in 2023.
Payment gateways have attained a prominent role in facilitating international e-commerce transactions. Most online retailers incorporate payment gateways into their e-commerce stores due to the ease of use and speed these services provide.
Payment and cash exchanges are a priority for any business. With the available technology in the financial sector, physical cash as a method of payment is gradually becoming history. Although there are numerous payment platforms available, different organizations have the preferred platforms they utilize for transactions.
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As technology opens up new payment options and marketplaces, payment gateways are essential in helping businesses grow. These gateways facilitate transactions over the internet.
Internet transactions are a common target of fraudsters who try to hijack customer payment details. This constitutes one of the major fears in utilizing many gateways for online transactions.
Consequently, it’s essential to carefully select your online store payment systems and those who provide payment services to your store.
If you are a business owner and are wondering which online payment platform to utilize for your business, this article is for you. We’ll tell you the top 6 most popular online payment gateways in 2023.
What are Payment Gateways?
Simply put, payment gateways are gateways that mediate successful and secured transactions between a merchant and a client. Gateways are efficient and time-saving methods of payment. They securely transmit transaction information to banks.
The best payment gateways ensure the security and confidentiality of the customer. They are smooth, fast, secure, and trustworthy.
There are plenty of options to choose from when it comes to online payment systems. However, in this article, you’ll learn the top 6 most popular online payment gateways.
Top 10 Most Popular Payment Gateways in 2022
Here is the list of the top 10 most popular payment gateways you can choose from for your business. Please note that the numbers do not show any magnitude. In other words, the list is not following any particular order.
- Amazon Payments
- WePay
- PayPal Payments Standard
- Authorize.net
- 2Checkout
- Stripe
Amazone
Amazon Pay was launched in 2007 to help Amazon merchants and shoppers make an easy and fast smooth shopping experience. It incorporates a variety of products for buyers and merchants to process online payments. It incorporates a variety of products for buyers and merchants to process online payments.
With Amazon Pay provides the option to purchase goods and services from websites and mobile apps using the addresses and payment methods stored in the Amazon account, such as credit cards or a direct debit bank account, or the Unified Payments Interface (UPI) in India.
Amazon pay is loaded with great features and tools that attract customers and encourage them to shop more, make their shopping process streamlined, and improve customer engagement and loyalty via saved payment details for faster checkouts
The payment gateway increases shopper engagement, brand visibility, and security for business, letting hundreds of millions of Amazon customers pay their way every day.
It is an easy, fast, and secure payment solution and is available and used in over 13 countries currently. The service is available in Austria, Belgium, the United Kingdom, United States, Portugal, Spain, Luxemburg, Japan, and Sweden, among others.
2. PayPal
PayPal is designed to help people and companies send and receive payments without providing financial information. With PayPal, users can send or receive payments across the globe with just an email address instantly.
Paypal operates in over 203 countries and it supports widely used credit cards like Visa, Mastercard, Citibank, American Express, etc.
PayPal is one of the world’s most widely used payment gateways over 30 million merchants and 400 million active customers. The payment gateway was first launched in 1999 and has grown to become one of the most versatile and recognized online payment gateways in the world.
3. Authorize.net
Authorize.net is a payment gateway suitable for small-to-medium-sized businesses. With a host of flexible and trusted payment options, authorize.net helps businesses to grow.
Authorize.net was first launched in 1996 and since then, has handled billions of transactions every year, with more than 550, 000 active merchants. It is one of the oldest payment gateway providers around.
Authorize.net is easy to set up and use, works with nearly any merchant account and accepts transactions from customers all over the world. In addition, Authorize.net offers an all-in-one package that includes both a merchant account and a payment gateway
It’s a fully integrated electronic check payment system that accepts and processes payments from other bank accounts through the user’s website or the virtual terminal.
4. WePay
WePay is an online payment solutions company that provides payment infrastructure through software platforms. Over 1,000 platforms including Constant Contact, GoFundMe, utilize the WePay gateway for safe and risk-free same-day transactions.
WePay was first launched in 2008 as a peer-to-peer group payment platform and has grown to become one of the best multiple channel gateways.
WePay has several features that make it outstanding. It accepts payments from all major credit cards, Chase Pay, and ACH payments. In addition, it can handle complex payment requests, including multiple payers and crowdfunding campaigns. With just an email address, users can set it up and start accepting payments immediately
5. 2Checkout
Founded in 2006, 2Checkout is a payment gateway that serves over 200 countries. In addition, this payment gateway facilitates payment in over 100 currencies of the world and has easy integration facilities.
In terms of cost, 2Checkout is comparatively more expensive than its competitors and the conversion rate for international payments is 2-5% higher than average bank rates.
2Checkout accepts all major credit cards and payments, including MasterCard, Visa, American Express, JCB, and PayPal. It also supports payments in nearly 30 languages and has over 50, 000 active merchants, making it one of the most popular payment gateways.
6. Stripe
Stipe is an online payment gateway that accepts and manages online transactions across different locations in the world. It provides a safe and secured payment platform for your business.
Stripe is exclusively designed to suit your business with modern-day e-commerce features that enable it to support payment in over 135 currencies. It was designed for e-commerce.
Stripe does not have a monthly gateway fee. It also offers 24/7 email, phone, and chat support as well as access to an extensive online support center.
