If you are looking for the best online payment solutions To collect payments, you’ve come to the right place!
In this article, you will discover how to choose online payment software For Your Business.
Whether you are developing an e-commerce site, SaaS software, an online business or something else, collecting online payments has become essential to properly develop your online sales business.
However, there are many solutions on the market as in many areas and you can quickly get lost not knowing which online payment solution to choose.
What is an online payment solution?
An online payment system or payment service provider (PSP) is a technology that allows businesses to accept debit or credit card payments from customers.
Traditionally, payment gateways have been more closely associated with e-commerce stores.
But as the lines between online and physical businesses have blurred in recent years. Online payment solutions have been adopted more and more frequently by physical stores.
Whether you are developing an e-commerce site or SaaS software, choosing the right payment platform is key to the success of your business.
But before you start, do you really know how to choose a payment solution?
Top 8 best online payment solutions
PayPal
Founded in 1999, PayPal was acquired by eBay in 2002 and has become one of the most versatile and recognized online payment processors.
Paypal offers customers the option to pay with either PayPal or any other payment type, all at competitive rates.
Because of its trusted name and widespread use, PayPal claims that offering its service as a payment method to customers can increase conversions by 44%.
Adding PayPal as a payment option is also extremely simple. Users simply create an account and add a “Pay by PayPal” button to their website.
If an e-merchant wants to use PayPal’s advanced payment and settlement features, they must subscribe to PayPal Payments Pro.
This plan allows users to accept payments by American Express, Visa, Mastercard and integrates with major e-commerce platforms such as Shopify, Squarespace, BigCommerce and WooCommerce.
Stripe (shot of ❤️)
Stripe is a online payment solution which allows you to accept and manage online transactions around the world.
Stripe provides comprehensive solutions for process online payments. The tool also offers features such as billing management, subscriptions, payments via a single and simple link, payments via SEPA direct debit and many others.
Stripe is a robust online payment solution and a major player in the global market.
The power of Stripe, in addition to offering a large number of payment methods, makes it a valuable tool for preventing fraud.
Stripe also provides an open API that makes it easy to integrate into your business ecosystem whether you run an e-commerce store or not.
Gocardless
Gocardless is an online payment solution specializing in recurring payments.
Intended for subscription platforms but also allows you to collect one-off payments, Gocardless is a very solid solution to reduce friction when paying your customers.
Indeed, Gocardless, unlike other providers (except Stripe), works via SEPA bank direct debit and not by bank card.
The advantage?
No more fake bank cards and lack of funds on them, with Gocardless once your customers are subscribed, debits are automatic.
Of course, Gocardless is a very secure payment platform and can easily be integrated into your flows via API in particular.
Amazon Pay
Amazon Pay is a payment solution designed for Amazon merchants and buyers.
It is an easy, fast and secure payment solution.
Amazon Payments comes in two different forms: Login and Pay for buyers, and Pay with Amazon for merchants.
This payment solution is designed to provide a seamless shopping experience for retailers and online sellers.
Amazon pay comes with a host of features and tools that attract customers and encourage them to make more purchases, streamline their purchasing process, and improve customer engagement and retention through recording payment details for speed up checkout.
MongoPay
MongoPay is an all-in-one online payment gateway for merchants.
MongoPay allows you to collect payments online simply and securely. This digital payment solution is developed for marketplaces, e-retailers, crowdfunding platforms and B2B platforms for connecting businesses.
Among the main features of MongoPay we find:
- Support for payment methods
- E-wallet and ibanization
- Fraud detection algorithm
- White mark
In short, MongoPay is the perfect payment tool if you are creating a networking platform since it takes care of all the complex logic of e-wallet.
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Braintree
Braintree is a payment solution that is part of the PayPal network.
Braintree is designed to make the payment process easier. Braintree allows you to easily integrate numerous payment services such as Apple Pay, credit cards, Paypal and many others into your merchant site and streamline the user experience at checkout.
Note that Braintree supports both one-time and recurring payments.
Braintree is present in 40 countries around the world. It supports 130 currencies and enjoys the benefits of faster and secure transactions.
2Checkout
2Checkout (acquired by Verifone) is a global payment solution widely used that allows businesses to accept online payments from buyers around the world.
2Checkout has many localized payment features and options that help both merchants and customers streamline the checkout process.
2Checkout is a US-based payment solution that supports dozens of payment methods and transactions worldwide.
This solution makes it possible to accept mobile payments in particular and to simplify checkout for your potential customers.
With 2Checkout, you will also be able to manage recurring payments.
Of many integrations are available to simply integrate the solution into your e-commerce site, particularly with Shopify, Magento, Prestashop, Woocommerce and many others integration.
Adyen
Adyen is a very comprehensive payment solution that can meet all your needs.
Indeed, whether to collect payments online or in store, Adyen can support you on these subjects thanks to their API or their payment terminal.
In addition to being easy to use and complete, Adyen is very secure.
The company of Dutch origin is today based in dozens of countries including France.
Accepted payment methods
In fact, the easier you make it for customers to buy, the more likely they are to make them. By equipping your website with a payment gateway that integrates a wide variety of payment methods, you expand your distance selling potential.
This may seem obvious, but not all online payment solutions have the same cost. Indeed, some operate with a fee for each transactionothers with a Monthly subscription and fees for each transaction, etc.
Make sure the price of your solution is attractive to you.
(automatic) tax management
Taxes are a real headache for many, especially if you sell internationally. Although today, most online payment platforms manage taxes intelligently Depending on the country declared by your visitor, ensure that your solution can do this.
Compatibility with your site
Of course, it’s important to consider how your solution will integrate with your current website, both from a technical and visual perspective.
For example, if integrating the solution is not easy with your website, you might want to rethink your choice!
We saw previously that the ease of integration of an online payment solution is crucial when it comes to choosing your solution.
Unfortunately, there is no no generic explanation to this question of integration. Each solution integrates differently. However, if you use a known CMS for your website some integrations can be very simple and quick.
To integrate payment methods into WordPress for example, you can use the many dedicated plug-ins and in just a few clicks, your Stripe account or other payment solution is connected and you are ready to receive payments.
However, if you use a website without a CMS, the integration of a payment platform may be more complex: potentially via iframe or directly via API For example. In this case, just ask your developer to get their hands dirty.
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