PAYMENT GATEWAY COMPETITION IN ONLINE BUSINESSES:
The eCommerce and online business in recent years have developed great payment gateways and side-by-side the ease of shopping too. Building the shopping platforms and integration of payment source has also simultaneously developed. A study subjects online commerce to reach $5.8 trillion by 2022-that would be more than 6 times the figure for brick and mortar sales shops.There is a steady growth in the cash flow of online transactions in contrast to the old school method. Most important drivers in the growth of eCommerce are the ease and security of paying online.
HERE ARE THE MOST POPULAR PLATFORM OR PAYMENT GATEWAYS GLOBALLY:
- Stripe: Stripe is an online payment processor, which is designed especially for small online businesses. It has a vast selection of integrations, features and transparent pricing schemes. It is a convenient platform for accepting credit card via online channels. It can handle all the backed processes involved in online payments like security and automated features.
- PayPal: PayPal is built on the technology that enables users to accept credit cards as well as process mobile and retail credit cards. It is great for global companies, accepts 25 currencies from 200 countries and territories. PayPal can be integrated with shopping carts, CRM solutions, eCommerce platforms, and accounting tools to propagate the operations
- Amazon: This payment gateway comes from the eCommerce giant Amazon, which is prepared for both Amazon merchants and customers. It’s very easy, reliable and a rapid platform. This gateway works more in an ecosystem-based model. With this, you can attract new as well as repetitive customers. You can even improve customer loyalty with their already inclined recurring payment options and offers.
- Braintree: Merchants in more than 40 countries are using this payment gateway worldwide. It has access to a total of 130 global currencies. It offers global eCommerce tools to let companies build their own features on the platform and scale the businesses around the world. It has an interface that is best for customizability, making it great for new users.
- Authorize.Net: It has a huge base of more than 370,000 merchants for streamlining fast and secure transactions. It doubles as a virtual POS solution and supports wide interface integrations on big and small online businesses. A wide range of PSPs worldwide also trusts it.
- Skrill: Skrill is an easy-to-use payment processor that lets you control your online transactions. Designed for new featured businesses it processes the payments fast and securely as well as provides accountability for them.
- PayU: This gateway is very popular across Indian businesses. It focuses on the merchant needs with consumer shopping behavior. It offers innovative options that will help companies receive the money they’re owed as quickly as possible. It comes with a tokenization feature and a fraud management system too.
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What’s more, is that PayU is designed to simplify e-payments across countries. It supports over 250 payment methods and operates in 16 countries and markets in Asia, Central and Eastern Europe, Latin America, Middle East, and Africa.
We also provide services to get your credit card processing, high-risk merchant account, and other merchant account related services. You can call us at the toll-free number+1 (888) 622 – 6875 or get to info@merchantstronghold.com for 24/7 email support.
