The meaning of the word payment gateway is not hard to figure out. As the name implies, it is a gateway through which payment is made for a particular product or service. To a shopper, it is that page after navigating to check out. Say you’ve come across a store and you want to buy something from there. After adding it to your cart, you’d need to navigate to checkout to pay, and this is where payment gateway comes in.
For a dropshipper, it’s no news. However, there are many payment gateways out there. To save you from the headache of knowing which is which, here is our list on the best payment gateways for dropshipping and e-commerce.
Obviously, the first name that’s going to come up on any list because it is the most commonly used payment gateway for most e-commerce stores. PayPal is a widely accepted payment gateway in more than 203 countries, 25 different currencies, and by over 305 million people, as it supports all kinds of credit cards, be it Visa, Mastercard, Citibank, American Express, and more. For you to even start dropshipping, most times, you’d need a business PayPal account. PayPal also has other options available for vendors in terms of integration.
2Checkout is another U.S. based payment gateway that’s available in more than 87 countries, with many Third World countries included. The gateway supports credit cards like Visa, Mastercard, American Express, and many other major credit cards.
2Checkout has a simple interface for customers, where all transactions are simplified into different languages and currencies. Another excellent feature of 2Checkout is the ability to integrate with other systems easily; it can combine with online shopping carts or even invoicing systems to help your payment faster.
Although available in over 25 countries, Stripe is a payment gateway mostly used in the United Kingdom, Canada, Australia. Stripe has excellent customer support for vendors, and it’s more flexible in terms of more extensive developer tools, which makes it an excellent choice for businesses with developers. With this payment gateway, you can easily bill your customers with no issues, completes one-off payment. What’s more? You can even add a Stripe POP system to your physical store.
Started in 1996 as part of the product of the then Visa, authorize.net is one of the most trusted and tested payment gateways available out there today. Thanks to its ability to integrate and customize. Although it has less brand recognition, it made up for it in different ways. With aithorize.net, you can now work online and in-person. It offers excellent customer service, and vendors can tokenize sensitive information with little or no effort.
This is another gateway that has its presence in over 40 countries. Skrill is a new payment gateway that has gained popularity in the gateway market over a short period that it started. Thanks to its low-cost international money transfers that allow people to pay for things all over the world, and scalability – in terms of being able to accommodate all levels of business from individuals to big companies-. It charges 1.9% checkout transfer fees, and it also offers an extension for integration with WooCommerce-based dropshipping stores.
WePay happens to be one of the products of Chase. If you’d like an online payment gateway with fast and seamless operations to your website, then WePay is a good choice. It is a customizable payment solution, with optimal payment experience for both dropshippers and the shoppers.
Although fairly complex, its system gives companies the flexibility and option they need to adapt their operations to their changing objectives. Due to this complexity, the payment gateway comes with the benefit of extensive support and even 100% payment risk coverage. What’s more? WePay’s payment solution is for both online and in-person sales with its POS solutions.
The name says it all. PaySimple is a payment gateway that prioritizes product placement and marketing services to drive traffic and conversions via your website and social media channels. Its flexibility is top-notch as it can accept credit cards and e-check payments across all sales platforms – online, on phone, and in-person sales (POS system) inclusive. Another interesting support from PaySimple is the ability to generate standard and customised reports that can give you indispensable customer insights.
There you go! Above are the seven payment gateways we think are the best for your dropshipping and e-commerce business. You can test with different payment gateways and choose the one that works the best.
No doubts, a payment gateway is a vital part of any e-commerce business. It’s the gateway responsible for all transactions of the store and where all transactions are concluded. So, finding the right, quick, and convenient one is very paramount and a wise investment you could make for the growth of your business.
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