Technology

Top 10 Most Popular Payment Gateway Around The World

Payment Gateway
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In today’s digital era online payment gateway have become a trend and business are searching for ways to deliver e-commerce customer experience through online payments. So in this, I will provide you the list of best payment gateway. 

Before we start with the list it is necessary to know all about payment gateway

What Is a Payment Gateway?

If you are the owner of the e-commerce store then you must be knowing the importance of providing the user a good interface and functionality in website and application. But what if the payment method is not good? Customers will not trust in the future hence there will be a drop in business. Therefore payment method plays an important role in the customer buying experience. 

The best payment method ensures the security and confidentiality of the customer leaving a good impression. This will build the trust of customers on websites and apps. A functional way of payment allows the merchant to accept multiple transaction facility (debit card, credit card, etc). 

Working Of Payment Gateway

Following are the steps followed during the payment process:-

  1. Firstly, customers add the product or services that they want to buy in a card and then proceed to the payment page.
  2. Fill the details of the debit card, credit card. Details are as follows:-
  • 16 digit card number
  • Card Holder Name
  • Expiration date
  • CVV number
Payment Gateway
  1. Once you submit. It will take you to the payment gateway.
  2. After that card details are encrypted and go through the security check before sending the card information to acquiring the bank.
  3. Then the bank sends that information securely to the card schemes.
  4. The card schemes make another layer of security. After that, it sends information to the issuing bank.
  5. Now, the bank performs security and fraud checks. After that bank authorizes the transaction and sends back the approval and decline message to the card scheme and then to the acquirer.
  6. Then the bank sends the decline or approval message to the payment gateway who sends further to the merchant.
  7. If the payment is successful then the acquirer collects the payment amount from the bank and transfer to the merchant’s account.

Features Required In Payment Gateway

Following is the consideration that one should check before using any payment method:-

  • Security
  • Payout Time
  • Ease of website integration
  • Multi-currency

Below is the list of best payment method

1. PayPal

PayPal Payment Gateway

Payment Gateway PayPal is one of the e-commerce payment platforms that help people and companies to send-receive payments without providing financial statements. It is operated in 203 countries.

Features:-

  • PCI Compliance
  • Express Checkout
  • Inventory tracking 
  • Mobile Card Reader
  • Shopping Cart
  • Barcode Scanning
  • Virtual Terminal
  • Online invoicing
  • Credit card reader
  • Bill me later

2. Amazon Pay

Amazon Payment Gateway

Amazon Payment Gateway is a specially designed for Amazon merchants and shoppers. This online payment method is used in 8 countries. It consists of 2 packages:-

  • Log in and pay for shoppers
  • Pay with Amazon for merchants

Features:-

  • Automatic Payment
  • Customer Identity
  • Merchant website integration
  • Fraud protection
  • Inline checkout

3. Skrill

Skrill Payment Gateway

Skrill Payment Gateway is an online payment method designed in 2001. It is well recognized and awarded by top companies like Deloitte technology fast 50 awards, etc. This payment method is the UK based that supports 30 different currencies.

Features:-

  • Email transaction
  • Free account
  • Quick access
  • Credit card transaction

4. Stripe

Stripe Payment Gateway

Stripe is a payment method based on the cloud and manages online transactions all over the world.  It is a robust payment way that enables you to prevent fraud with great security.

Features:-

  • Mobile customer interface
  • Dispute handling
  • Multi-currency payout
  • Payment option
  • Custom UI toolkit
  • Authorization

5. 2Checkout

2checkout Payment Gateway

2Checkout is the most popular payment method that allows the business to accept online payment from buyers. This payment method is the US-based, It consists of 8 different payment methods, 15 languages, and 87 different currencies.

Features:-

  • Multiple payment options
  • Account updater
  • Recurring billing
  • Customized Checkout option
  • Level 1 PCI data security standard

6. Authorize.Net

Authorize Payment Gateway

Authorize.Net is the best payment gateway that provides strong infrastructure and security to ensure smooth data transfer. This payment method is a fully integrated electronic check payment.

Features:-

  • E-check processing
  • Retail payment
  • Virtual terminal and batch upload
  • phone/mail payment
  • Sync for Quickbooks
  • Advanced fraud detection suit

7. Payoneer

payoneer Payment Gateway

Payoneer is a leading online payment company that offers services and facilities to businesses and individuals for electronic payment all around the world. This payment method is available in 199 countries and supports 35 languages.

Features:-

  • Single and Mass payout
  • Receive payments
  • Funds Withdrawal
  • Integrated payments
  • Partner Network
  • Escrow Payments

8. Securion Pay

securionpay Payment Gateway

Securian Pay is a secure online payment method that supports multiple operating systems such as Mac, Windows, Linux, Android, and ios and It’s a standalone payment solution. This payment method has a flexible API.

Features:-

  • 1-click payment
  • Retry logic
  • Subscription plan manager
  • Trials and discounts
  • Custom form
  • Blacklisting

9. BlueSnap

BlueSnap MyCommerce

Bluesnap is one of the global payment methods. It enables businesses to accept payment from local as well as international customers. This method is available in 180 countries and supports 110 payment types, 29 languages, and 100 currencies.

Features:-

  • Virtual terminal
  • Payment API
  • Subscription
  • Invoice payment
  • Market payment
  • Cross channel payment

10. MyCommerce

MyCommerce Payment Gateway

MyCommerce is an eCommerce solution at a low cost. It is based on robust Saas technology infrastructure.

Features:-

  • Data Security
  • Subscription and Monetization
  • Fraud detection
  • Global tax and compliance

Conclusion

The online payment method is the future B2B e-commerce business. They build a secure link between the website and the payment processor by encrypting the debit/credit card details. Above are some of the best payment gateways that offer an easy, seamless, quick, and secure transactions.

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