Ecommerce payment

E-commerce Payment Gateways

What is e-commerce Payment Gateways

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The payment gateway may be provided by a bank to its customers, but can be provided by a specialized financial service provider as a separate service, such as a payment service provider.

Criteria for choosing a Payment Gateway

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  • Select a payment gateway that is popular in the country where you are targeting your products.
  • The card’s issuing bank views the authorization request and “approves” or “denies.”
  • Ensure the payment gateway offers a low transaction fee.
  • Check if it is compatible with drop shipping stores. Most eCommerce gateways don’t prefer drop shippers because of higher refund rates.
  • Check if you can use the gateway, once you plan on expanding in the global market.
  • Check if it offers a good shopping experience to the customers.
  • The confirm order interpreted and an appropriate response is generated.

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Best Payment Gateways

  • PayPal:-PayPal is the most commonly used payment gateway for eCommerce stores. It supports all prominent credit cards: Visa, MasterCard, American Express, Citibank, and more.
  • 2 Checkout:- 2Checkout payment gateway is available in many third world countries. It supports all major credit cards such as Visa, MasterCard, American Express and others.
  • Authorize.net:- Authorize.net is one of the oldest and most trusted payment gateways available for credit card users. Authorize.net also has the lowest transaction fee.
  • Skrill:- payment gateway is 1.9% charges checkout transfer fee.

Which Payment Gateway is easy to use?

PayPal is the most used payment gateway because drop shippers are in the initial stage, should start their drop shipping business.

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