When you’re considering how to set up an ecommerce site, one of the most vital aspects of your platform will be the method by which you’ll process customer payments. To help you choose, we’ve gathered some of the most popular ecommerce payment options here for your review.
2Checkout
One of the best features of 2Checkout is it makes payments look as if they are being processed on your site. This relieves the potential anxiety some shoppers might feel about being transferred to another site to provide payment information. While this concern is less of an issue today than in the past, it’s still worth considering. Meanwhile, all ofthe security benefits of a hosted solution still accrue to you. The gateway is currently being used in some 200 markets around the world and is calibrated to support 87 different currency options. There are no monthly or setup fees, you’ll pay 2.9 percent of each successful transaction in addition to 30¢. Currency conversions and cross border transactions incur additional charges.
Amazon Payments
Anyone surprised to see Amazon operating in this space has yet to grasp the intention of the company to get a slice of each and every dollar spent on the internet. One the best features of Amazon Payments is the formerly patented one-login option. This makes it one of the easiest to use payment processing methods available for your customers. With that said, others have adopted this feature now, so it isn’t unique anymore. Amazon’s A-to-Z Guarantee ensures the security of transactions conducted using the platform. Sellers are charged a fixed percentage of their gross sales.
Authorize
One of the oldest payment gateways out there, authorize supports all major credit cards and functions without SSL Certificates or PCI Compliance, as it manages those protocols on your behalf. Electronic checks are accepted by Authorize as well. Funds are transferred into your bank account immediately. The service offers free Advanced Fraud Detection, as well as address and CVV verification. Its Customer Information Manager feature allows your regulars to store their credit card data, making their subsequent transactions faster and less cumbersome.
Paypal
Probably the most recognizable name of any of the options on this list, Paypal is secure, reliable, trusted and almost universally accepted. Buyers can take advantage of the service for free, while sellers pay transaction fees for credit card payments. The good news is Paypalwill only bill you once you’ve made a sale, where some of the other services of this type have monthly fees. Further, Paypal charges no setup or gateway fees. You sell, you pay—it’s as simple as that. Paypal also offers customers flexible payment terms through Paypal Credit.
Stripe
One of the newest options available to ecommerce merchants, Stripe “earned its stripes” being easy to use, reliable and secure.Stripetransactions are settled every seven days, as opposed to every 30. The platform can be customized to permit automatic billing of subscriptions every 30 days, accept payments or establish a marketplace. All are important when you’re deciding how to set up an ecommerce site.With no monthly charges or setup fees required, Stripe’s business model demands nothing of users unless they make money.
These are five of the most popular ecommerce payment options available. Each of them has earned its way onto this list by proving secure, reliable and flexible. While there are a number of others from which you can choose, keep in mind these are the most popular because they have been proven effective.
