5 Best Ecommerce Payment Processors

Part of creating an e-commerce website is considering your customer's payment options. You may have great products and an engaging site, but all that is wasted if your customers do not complete their payment transactions at the checkout counter.

Put yourself in the customer's shoes- will you gladly hand over your credit card to an unprofessional-looking payment processor? Will you continue if there's a security pop-up saying that you're entering a non-secure site?

In general, you should choose a payment processor that you yourself have been using or are familiar with. Here's some other things you should consider when choosing the right payment processing system:

  • The Fees. How much is the processor asking for in terms of monthly fees and per-transaction charges?
  • The Payment Methods. Does it have the payment platform you're looking for?
  • Conveniences. Does it have added convenience features like mobile payments or auto-pay?

Most of all, you will definitely need a payment processor who can process payment quickly, keeps track of pertinent details (customer pays X amount on Y time for Z item), and is flexible enough to allow ecommerce merchants to settle disputes and payment issues regarding day-to-day money transactions.

That being said, who are the best payment processors for an ecommerce website?

1. PayPal

Quick, simple and universal.

PayPal is the payment processor who started it all. The company has been in the payment processing industry since their creation in 1999. Online users recognize the brand as being one of the safest payment processing platforms in the world.

PayPal has long since expanded their online payment functionalities. You can link your local bank account or credit card to your PayPal account to make a purchase. You can put funds on your PayPal account and have it act as the online middleman for buying goods online, i.e., eBay only accepts PayPal as a legitimate payment platform.

One quick look at the payment button and trust is immediately established, which means you shouldn't have any problems with your customers leaving just because they don't trust the payment processor.

Ecommerce website owners may utilize PayPal as an account tool. All the proceedings from purchases are stored in your PayPal account. From here, you can do a variety of payment tasks, including buying necessities and goods from other merchants who accept PayPal, using your PayPal debit card to withdraw cash or have PayPal transfer the funds straight to your bank account. Using PayPal will feel like a natural online extension of your bank account.

The best part of it is that PayPal doesn't charge monthly or any start-up fees.

Easy-to-use Amazon payment integration.

It's easy to add the Amazon payment button and have it show up on the checkout form. Once your customers choose this type of payment processing option, they won't have to populate the address and payment information as the system does this automatically.

This payment processor offers more than just payments. Your visitors can log into their Amazon account and avail of subscription services that get billed directly to their Amazon account. Ecommerce website owners will have less to worry about since the accounts are already verified through Amazon channels.

Price per transactions are the same with PayPal and other popular payment processing systems. There are no monthly charges to speak of as well.

3. Stripe

Accept any type of payment for your ecommerce app.

If PayPal is too simple for you, then Stripe is the next best thing. The beautiful, well-designed payment processing system is an experience to remember. Adding a secure checkout form is as simple as adding one line of javascript. If you're looking for customization, then you can use the included API to integrate Stripe's payment options for your mobile ecommerce app.

Having Stripe gives merchants the power to accept any type of payment. The system is now available for use in 10 countries, with more being added each year. Giving visitors the option to pay via ACH bank transfers, Android Pay, Apple Pay, Alipay and Bitcoin adds a depth of convenience. It also makes things easier for you since you won't have to sign up for multiple payment processors. Stripe even has a discount code or coupon integration right inside its payment management system.

There's no extra international fees, and it features the same transaction price as with the two payment processors mentioned above.

4. Authorize.net

Batch transactions made easier.

Authorize is the payment processor to get if you want an all-in-one payment platform for both your ecommerce website and brick and mortar store. The company charges a startup fee of $49 and a monthly charge of $25.

What do you get from Authorize.net? Custom payment forms that's housed within a secure server. The on-site checkout process won't confuse buyers from having to be led from one website to another. What's more, Authorize.net accepts all types of credit card payments and online payment solutions like PayPal, Apple Pay, etc.

Additionally, Authorize has some advanced features such as Fraud Detection Suite, a QuickBooks sync and 24/7 customer support. You will also have the option to put in the payment info onto a paper check or have your customers enter their bank information at the eCheck payment screen. Bulk payments are a quick and relatively painless affair as you can just accept and collect offline bank and credit card payments and submit them to Authorize for processing.

5. Braintree

Accept international currency payments directly.

If you're looking for a customized payment form while having the conveniences of accepting credit card and PayPal payments directly, then Braintree is the one to get. You can build your own checkout process using the powerful API, or use the hosted fields to accept secure online payment via your own forms.

The singular payment form may be utilized to accept any number of mobile payment options such as Google Pay as well as credit card payments in one go. Personal payment apps such as Venmo and account-based processors such as PayPal are integrated as well. If you have a global ecommerce website, then having a processing system that takes international payments directly in local currency may prove to be an unbeatable convenience.

Braintree offers free use of up to $1 in Bitcoin transactions and for the first $50k in credit card payments. After that, you will be charged 2.9 percent plus 30c per card transaction and 1 percent for international transactions.