payment method They are third-party facilitators that allow you to recognize payments from your online customers. A payment gateway will typically have a selection of payment alternatives, including:
- cash cards
- Credit Cards/Debit Cards
- net banking
When the customer wants to pay from an online store, they can select the option that best suits them and they pay you. In a way, the payment gateway works as a bridge that connects your bank and your store so that the buyer can make their purchases without problems. Instead of the service, the payment gateway charges you its fee through a Transaction Discount Rate (TDR) on the transaction amount.
Online payment method They are essential, if your business depends on an e-commerce website and requires collecting funds on the website instead of services or products available to process the payment made by your customers. This helps customers to pay without difficulty and later the seller/supplier/manufacturer can access the cash paid by the customer/buyer, request a check or withdraw it from their bank account.
Below are the top ten common ecommerce payment processors in the world:
1.PayPal
This is a top-tier payment acquirer and the most popular worldwide. In 2011, PayPal was able to transact $4 billion in terms of payments.
2. Authorize.Net
It became popular in 1996 and has since transacted billions worth of funds. To register an account, you must pay a one-time setup fee of $99, monthly charges of $20, and $0.10 for each transaction.
3. Brain Tree
There is no setup cost for the merchant account service and online payment processor. The transaction fee for each transaction includes 2.9% + $0.03 for qualified cardholders.
4. Smart payment
There are more than 40,000 businesses that use Sage Pay because it is believed to offer secure payment services. It is reported every month that this payment gateway can process up to millions of transaction payments.
5. Google Pay
The account is connected to a Google profile that allows Internet users to pay for services and purchase products online.
6. Amazon payment
This payment processor was started in 2007. This is a product of Amazon.com, which allows account owners to send money via ACH and receive funds via Amazon API. The transaction fee is around 2.0% + $0.03 for transactions over $10, while for payments under $10, the transaction fee is 5.0% + $0.05.
7. We pay
This payment gateway is used to receive payments for products, donations, event tickets, etc. There is no setup fee or monthly charges.
8.2 Pay
2CO or 2CheckOut allows users to receive PayPal payments and credit card payments. It also provides recurring billing facilities, shopping cart stores, and international payments.
9. Dwola
It transacts and processes payments of 1 million dollars a day. The transaction fee or charges are not less than $10.
10. Moneybookers (Skrill)
This is the simplest payment processor with over 120,000 merchants worldwide with 41 different currencies and 100 payment options.