Payment gateways are essential for any ecommerce business to accept payments online. However, the availability of payment gateways varies by country and platform, making it necessary to break down the options based on those factors.
SYSINT provides an overview of payment gateways for ecommerce businesses on different platforms and in other regions:
Payment Gateways for Magento
Magento is a robust e-commerce platform widely used by businesses of all sizes. One of the key features of Magento is its flexibility, particularly when it comes to accepting payments. Several payment gateways are available for Magento, including hosted and integrated gateways.
PayPal
PayPal is a popular payment gateway for Magento, offering fraud protection and mobile optimization features. Setting up PayPal with Magento is easy, with step-by-step instructions on their website.
Authorize.net
Authorize.net is another widely used payment gateway for Magento, offering advanced fraud detection and prevention tools. Authorize.net also provides detailed transaction reporting and customer data management.
Braintree
Braintree is a PayPal company that offers a seamless payment experience for both customers and merchants. It supports multiple currencies and payment methods, making it a popular choice for global businesses.
Stripe
Stripe is another popular payment gateway for Magento, offering features such as subscription billing and customizable payment forms. Stripe also provides detailed analytics and reporting tools to help merchants better understand their transaction data.
Worldpay
Worldpay is a global payment gateway that supports multiple languages and currencies. It also offers features such as recurring payments and fraud detection.
2Checkout
2Checkout is a payment gateway that supports over 45 payment methods and multiple currencies. It also provides features such as subscription billing and customizable payment pages. In conclusion, choosing the right payment gateway for your Magento store can significantly impact your business. When deciding, consider transaction fees, security features, and customer support. With the right payment gateway in place, you can provide a seamless payment experience for your customers and streamline your payment processing.
Payment Gateways for WooCommerce
WooCommerce is a user-friendly platform that is popular among small and medium-sized businesses. WooCommerce has several top payment gateways, including PayPal, Stripe, Square, Authorize.net, Amazon Pay, and Braintree. These payment gateways offer features such as subscription billing and customizable payment pages.
Payment Gateways for Shopify
Shopify is a popular ecommerce platform known for its ease of use and robust features. Shopify, known for its ease of use, has several top payment gateways, including PayPal, Stripe, Authorize.net, Amazon Pay, 2Checkout, and Worldpay. These payment gateways offer features such as fraud detection, recurring payments, and multi-currency support.
Payment Gateways for BigCommerce
BigCommerce is a popular platform known for its powerful features and scalability. Some top payment gateways for BigCommerce include PayPal, Stripe, Authorize.net, Braintree, Square, and Worldpay.
Payment Gateways by Region
Payment Gateways in the USA
According to the latest information as of May 2023, PayPal is currently the top payment gateway in the USA due to its user payment convenience, professional invoices, and streamlined payment operations. Research has shown that consumers' intent to purchase increases by 54% when PayPal is available as a payment type. Other sources also list Stripe, Adyen, Helcim, and Clover as some of the best payment gateways for businesses in the USA. These payment gateways provide a simple way to take and process credit and debit card payments online, offer flexibility, and cater to different business needs. [1][2][3][4][5]
Sources:
- https://meetanshi.com/blog/best-payment-gateways-in-usa/
- https://www.forbes.com/advisor/business/software/best-payment-gateways/
- https://www.techradar.com/best/best-payment-gateways
- https://www.nerdwallet.com/best/small-business/payment-gateways
- https://money.com/best-payment-gateways/
Payment Gateways in Europe
Based on the sources provided, some of the best and most popular payment gateway options in Europe for 2023 are: PayPal: PayPal is one of the most widely used online payment platforms in Europe, with over 9 million merchants relying on it to build, run, and grow their businesses. It is one of the oldest names in online payments and has many tools to simplify day-to-day operations. Melio: Melio is a web-based accounts payable software considered the best European payment gateway. It sends payments through bank transfers free of charge and has payment scheduling features that organize your cash flow. Skrill: Skrill has been helping millions of customers make, send, and spend money since 2001. It is a popular payment gateway option in Europe due to its ease of use and accessibility. Visa and Mastercard: Visa and Mastercard are international financial services companies that specialize in facilitating credit and debit card payments connected to bank accounts. They are widely accepted in Europe and are popular payment methods for online transactions. These are just a few of Europe's best and most popular payment gateway options, as many other options are available depending on your specific needs and preferences. [1][2][3][4][5]
Sources:
- https://www.techradar.com/best/best-payment-gateways
- https://finxp.com/insights/10-top-payments-methods-in-europe-for-2022/
- https://sourceforge.net/software/payment-gateways/europe/
- https://financesonline.com/best-payment-gateway-providers-in-europe/
- https://www.rapyd.net/blog/the-top-payment-gateways-and-payment-systems-in-the-european-union/
Payment Gateways in Asia
According to Forbes Advisor, as of May 2023, the best payment gateways in Asia include Braintree, Stax, Stripe, Square, and Helcim.[1] Meanwhile, TechRadar provides a broader list of payment gateways, including PayPal, Amazon Pay, and Authorize.net.[2] SourceForge also lists Stripe as one of the best payment gateways in Asia, highlighting its software platform for running an internet business.[3]
Payment gateways in China
In China, the dominant payment gateways are Alipay, WeChat Pay, and UnionPay. Alipay is owned by Alibaba Group and is known for its mobile payment and lifestyle platform. Meanwhile, WeChat Pay is a payment feature integrated into Tencent's social media platform, WeChat, and is widely used for various purposes, including online shopping and money transfers. On the other hand, UnionPay is a state-owned payment card network commonly accepted in China and other countries.
Payment gateways in Japan
In Japan, PayPal and credit card payments are commonly used for online transactions. PayPal is a popular payment gateway worldwide, and in Japan, it is widely used for online shopping and money transfers. Credit card payments are also widely accepted in Japan, with significant credit cards companies such as JCB, Visa, and Mastercard being some of the most commonly used.
Payment gateways in Thailand
PayPal, credit card payments, and TrueMoney are popular gateways in Thailand. TrueMoney is a payment gateway and e-wallet service widely used in Thailand as well, especially for online and mobile payments.
Payment gateways in India
Paytm, PhonePe, Razorpay, and Instamojo are popular payment gateways in India. Paytm is a mobile wallet and payment gateway widely used in India for various purposes, including online shopping, mobile recharges, and bill payments. PhonePe is another mobile payment gateway commonly used in India, while Razorpay and Instamojo are payment gateways catering to small and medium-sized businesses.
Payment gateways in Indonesia
GoPay, OVO, DANA, and Midtrans are popular payment gateways in Indonesia. GoPay is a digital wallet and payment gateway owned by Gojek, a popular ride-hailing and delivery service provider in Indonesia. Meanwhile, OVO and DANA are also popular e-wallets and payment gateways in Indonesia. Midtrans is a payment gateway that caters to businesses of all sizes.
Payment gateways in South Korea
In South Korea, Naver Pay, Kakao Pay, and Samsung Pay are popular payment gateways. Naver Pay is a payment gateway owned by Naver Corporation, a popular search engine and online platform in South Korea. Kakao Pay is a payment gateway integrated into KakaoTalk, a widely used messaging app in South Korea. Samsung Pay is a mobile payment system developed by Samsung Electronics.
Payment gateways in Singapore
P PayPal, Stripe, Nets, and GrabPay are popular payment gateways in Singapore. Nets is a payment gateway developed by Network for Electronic Transfers (Singapore) Pte Ltd. At the same time, GrabPay is a mobile wallet and payment gateway owned by Grab, a ride-hailing and delivery service provider in Southeast Asia.
Payment gateways in Malaysia
In Malaysia, iPay88, SenangPay, and MOLPay are popular payment gateways. iPay88 is a payment gateway that caters to businesses of all sizes, while SenangPay is a payment gateway that focuses on small and medium-sized enterprises. MOLPay is a payment gateway that specializes in online payments and e-commerce.
Payment gateways in the Philippines
PayMaya, GCash, and DragonPay are popular payment gateways in the Philippines. PayMaya and GCash are mobile wallets and payment gateways widely used in the Philippines. DragonPay is a payment gateway that caters to businesses of all sizes, especially those in the e-commerce industry.
Sources:
- https://www.forbes.com/advisor/business/software/best-payment-gateways/
- https://www.techradar.com/best/best-payment-gateways
- https://sourceforge.net/software/payment-gateways/asia/
Payment Gateways in Oceania
Oceania has a smaller population than other regions, but it still has several options for payment gateways. Some of the most popular options include: Here are some of the most popular payment gateways in Oceania:
- Adyen: Adyen has over 250 payment methods and supports several locations in Oceania, Asia, Africa, the Middle East, America, and Europe. Adyen's integration is easy, and it offers plugins for various platforms.[1]
- Stripe: Stripe is a popular payment gateway that makes card payment processing easy. It offers a range of options and features a complete payment system suitable for various businesses.[2]
- PayPal: PayPal is a widely recognized payment gateway that supports a range of currencies and is available in Oceania and other regions. [3]
- eWay: eWay is a popular payment gateway for many Australian online stores. eWay facilitates the acceptance of payments made by merchants in Australia. It offers secure payment transactions and is a trusted payment gateway for many Australian businesses.[4]
- Braintree: Braintree is another popular payment gateway that provides secure payment processing. It supports several locations in Oceania, Asia, and other regions. Braintree is known for offering fraud protection and being transparent about its fees.[5]
Sources:
- https://crystallize.com/blog/best-payment-gateways
- https://www.techradar.com/best/best-payment-gateways
- https://www.paypal.com/au/home
- https://meetanshi.com/blog/best-payment-gateway-in-australia/
- https://www.forbes.com/advisor/business/software/best-payment-gateways/
In conclusion, the availability of payment gateways varies by platform and region. Researching the options available for your specific business needs and target market is essential. By doing so, you can choose the payment gateway that best fits your business and provides a seamless checkout experience for your customers.
SYSINT can help with Payment Gateways for ECommerce. We have deep expertise in Magento development and other eCommerce solutions. We may also provide consultation services for selecting the most appropriate payment gateway for a specific business. Contact us directly to inquire about their services related to eCommerce payment gateways.
