Plastic money has made life easier for both merchants and buyers. We do not think twice before entering our card details, completely trusting the website.
Cashless economies are the present and future. E-commerce websites use third-party payment processors to provide easy transactions to buyers across the globe.
In the dawn of e-commerce platforms, websites developed their payment gateways, which were limited. But with the evolution of verification methods and the need for quick transactions, the platforms had to up their payment gateway options.
Multiple payment gateways have increased the possibility of expanding the business overseas.
But what are the best payment gateways for e-commerce and dropshipping stores in 2023? What are the benefits of online payment gateways? We’ll clear all your doubts in this article.
What are the Best E-Commerce Payment Gateways?
Presently, payment service providers charge a small service fee for integration or monthly payments according to the number of transactions.
Here are some of the best payment gateway for digital payments.
Maintaining the trust of its 310 million users globally, Amazon ensures it provides a secure and error-free payment gateway service. According to Enterprise Apps Today, Amazon Pay has about 106,615 applications around the globe.
But to use Amazon Pay, the customer should have a registered Amazon account with saved payment details. Amazon offers free plugins to e-commerce websites and a single-click payment to all customers.
Tik-Tok and IMDB are the top companies using Amazon Pay.
RazorPay is one of the leading and best online payment gateways in India. It provides a wide-ranging set of payment methods, including domestic and international Debit and Credit cards, Netbanking, UPI, and 8 different mobile wallets.. RazorPay has secured and easily integrated APIs along with developer-friendly plugins, and libraries.
Moreover, you cannot continue with a single payment strategy and expect the business to skyrocket. RazorPay dashboard has real-time data that helps to make better payment-related decisions.
RazorPay also has its RazorPayX business bank account to automate all your e-commerce banking and finances. It saves about 70% of the time that goes into handling invoices, paying vendors, and calculating TDS.
RazorPay is no doubt the most trusted payment gateway for e-commerce since it encrypts all the shared information during checkout. It also offers payment gateway services at ₹0.00 maintenance fees.
You would not want an impediment in your online checkout payment gateway service, right? So what to do? Choose a secure and easily integrated payment gateway service.
Paypal accepts currencies from around 203 countries. But it does not deal with Indian currency. The buyer will have to pay an extra currency conversion charge and the tax per conversion to pay through PayPal.
It is the best payment gateway for international clients offering various payment methods like Mastercard, VISA, American Express, CitiBank, and more.
Google Pay is the most secure and reliable source of payment gateways in India and western countries. It is possible to make one tap purchase and an in-app purchase simply with a mobile number or QR code.
Leading e-commerce platforms like Shopify, WooCommerce, and BigCommerce have partnered with Google Pay to easily integrate this online payment gateway.
Google Pay also offers special discounts and rewards and sends them directly to your bank account.
The best part- 24×7 help to detect fraud and verify customer identity. Besides mobile payments, Google has a chrome web payment option for desktop users.
Authorize.net is the best payment gateway for small and medium enterprises. Its performance does not waver without an SSL certificate or PCI compliance.
But unlike the other e-commerce payment gateways, Authorize.net has high monthly charges in addition to transaction fees.
Then why is it at the top list of online e-commerce payment gateways?
It has a facile payment checkout procedure and has no limit on the size of transactions. It has an extremely secure backend system. Although not favorable for merchants, it provides a customized and seamless user experience.
Benefits of Payment Gateways
Online payment gateways not only benefit the e-commerce business but also your brick-and-mortar website. You can expand your business and provide services to clients outside your geographical location.
- Simplified Payment Process
The front end is responsible for the collection, transferring, and authorizing of the customer information to smoothen the transaction process directly into the merchant’s bank account.
The online payment method simplifies the transaction process for both the merchants and the buyers. Online payment methods like the RazorPay payment gateway help to maintain the inventory and pay the taxes.
- Customized User Experience
As said, Authorize.net offers a customized user experience. But what is a customized user experience for a payment gateway?
The payment gateway offers a choice to customize the user checkout experience. It completely depends on you to either talk to your developer and change the API or stick to the basic one.
- Increases the Business Revenue
According to GoCardless.com, 40% of the sales are impulsive buys. An easy and quick payment transaction method encourages users to make purchase.
Also, the best and most reliable payment gateways ensure the security of personal information and build customer trust.
Should You add Payment Gateways to Your E-Commerce Website?
But are you confused about where to begin? Don’t worry. We have the perfect solution. Digital Kangaroos is one of the best web development and digital marketing agencies. They have expert developers and designers to create the perfect user-friendly website for your e-commerce business with payment gateway integrated and made fully functional.
So, stop wondering and start selling!