How and Which Payment Gateway Suits Your Business Best? (2023)

With everything online these days, it leaves you with no choice but to find a source reliable enough to be dealt with through a screen without the benefit of all those old ways we were taught; like looking in someone’s eye to know how much you can trust them. Trust can not only be gained by looking deeply in to someone’s eyes, a fair choice of words coming your way could also prove their worth.

Let’s Talk About the Payment Gateway

In every sector of business comes a part where one must define his mode of payment. When it comes to online services, we call that the payment gateway. And go-globe can help you add that to your website in no time!

Contact go-globe Now For Payment Gateway Integration In Your Website

In simple words, a payment gateway is an e-commerce application service that has the power to authorize and securely process credit card payments for an e-business, online retailers, etc. It is a dedicated portal to perform the function of a link between websites and banks to allow a transaction of the desired amount of money to be completed that very instant.

Payment Gateway Integration

Amongst the other millions of questions that come to your mind while setting up your business comes the thought of how you will manage to charge your customers and receive the payment. The answer is simple. All you need is to integrate a popular and secure payment gateway to accept online payments. However the integration requires expertise to make sure that merchant and customer can securely process the transfer on website.

This is where we can help you! go-globe promises to help you integrate the payment gateway according to your requirements with the help of the finest web development team at your service! In this post we have listed the best payment gateways to save you from further search for what could be the suitable payment option for your online business.

Who could possibly ask for any more than this!?

Types Of Payment Gateways

Hosted Payment Gateway

(Video) How to choose the best payment method for small businesses 2022 | Start your business

Any redirect you face that drives you away from your ecommerce website is what is called a Hosted Payment Gateway. When it comes to making the payment, upon clicking the gateway link the customer is redirected to the real gateway page where they can complete the process. Your customers will have to leave the site until the process is completed and you will be redirected back to where you left off. The best part of using this kind of gateway is that it doesn’t require any confidential details on your website but they take customer to their own payment gateway site which handles the security risk.

A few Examples of this kind of Gateway would be; PayPal, WorldPay, and Nochex.

Shared Payment Gateway

When it’s time to make the payment, if the website doesn’t redirect you away to another site and keeps you on the same site’s payment page, it’s a Shared Payment Gateway. Once you click on the payment link/button appears a post form. After the form is filled with all the required details and submitted, the payment is processed on the same page and upon the successful validation the is user is redirected to a “thank you” page

Important Factors While Choosing Payment Gateway

Making any decision can be very confusing, but there are always some ways to stay in the clear from all the confusion. Here, to choose the perfect payment gateway you must consider working on these important factors first: transaction fees, on-form payments, card types, and recurring billing.

  • Transaction Fees

It’s beyond normal to stumble upon a certain gateway that will charge a small amount for you to use their app and to process your payment. Either they will ask for a fixed fee per transaction you make, or a specific amount of percentage from each purchase or even a mix of both. The transaction cost also includes the cost of withdrawing funds to your bank account.

  • On-Form Payments

Another kind of gateway will collect the payment right on your website using a simple form, even though other kinds will redirect the user to the payment gate page in order to process payment. This is an important factor to those users who opt for a pre-built form on website that is integrated with a payment gateway to collect payment. Users do not always like to be redirected to other pages.

  • Card Types

There are payment gateways that can directly receive payments from customers using their credit / debit card for saving customers from the hassle of registering and create account in the payment gateway. For this it is necessary to know what type of card is accepted by the gateway you picked out, be it debit or credit and what locations are supported.

  • Recurring Billing

The ability to set up and manage subscription payment on monthly basis without facing the tension of dealing with this action manually is what a few payment gateways offer; the recurring bill.

Popular Payment Gateways For Dubai, UAE Only

If you have set up a business for sales exclusively in the UAE, we have listed here the most renowned gateways to assist you with meeting your requirements. Although if you are selling outside the UAE as well, we have listed a few internationally popular gateways further below.

1. Amazon Payment Services

PayFort has been on the market since 2009 and is one of the leading payment gateways in UAE. PayFort also has an extensive network of international offices, including countries such as: Bahrain, Lebanon and Indonesia as well as a local presence in Qatar.

PayFort is a payment gateway that allows merchants to accept various types of payments and manage them. Merchants can integrate PayFort with their existing website in minutes, receiving the benefits of increased security and reduced fraud rates. For example, the PayFort Fraud Detection System (FDS) automatically detects fraud, reducing risk for businesses by up to 95%.

PayFort charges are reasonable and competitive. There are no hidden charges or fees for the merchants. Standard plan for transaction volume less 300,000 AED is 2.80%* + AED 1.0 Per transaction

(Video) Best Payment Gateways for a Small Business (Shopify, WooCommerce etc)

2. Innovate Payments

Based in Dubai since 2009, they specialize in providing online payment solutions to merchants in regions where ecommerce is still not very common and is struggling to find a reliable and yet cost effective payment partner.

They are covering up to 120+ transaction currencies, allowing full-coverage on US, Europe and the Middle East. With a setup fee that ranges from AED 1500 – 5000, they charge an additional monthly fee of AED 150 – 500 and their transaction fee that ranges from 3.00% – 5.00% + AED 0.50; all depending upon the account type respectively.

3. CashU

Cashu is the first and largest online payment solution company in the Middle East and North Africa (MENA). This fraud-preventing fee gateway is also in compliance with modern AML protocols, so you can avoid all risks associated. with cash on the street.E-commerce is growing in the Middle East and North Africa, with e-payments playing a significant role in the way people shop and purchase goods. The region has a large number of online buyers that are looking for reliable digital payment services to make their daily lives easier.

CashU is designed to suit, serve and support online shoppers to feel free to buy what they wish as they please. They offer transactions in 20 currencies so far. With absolutely zero setup fees, around 5% fee on transactions and only 1.00 USD charges Monthly for maintenance.

4. Cyber Source

It’s fast, reliable and secure. Well, it’s CyberSource of course! They charge a monthly fee of $20 as a follow-up to the setup charges which range from $0.00 – $200. Their transaction rate is 2.39% at $0.35 respectively.

5. Telr

Telr provides an alternative to traditional banking. It is an easy-to-use and low cost service that allows users to pay for goods and services from a range of providers including utility companies, telecoms companies, insurance providers, travel, ecommerce sites and more in UAE. Smartphones and tablets have played a huge part in making everyday life easier. The ability to use the Internet anywhere, anytime has opened up some amazing services that were previously unavailable or inaccessible to many people, such as online banking and shopping with an increasing number of ecommerce sites accepting payment via mobile devices.

Telr is a payment gateway that offers the highest level of security and is PCI DSS compliant. It offers a range of services that include MOTO, E-commerce, SMS, Mobile payments and POS solutions. Their charges depend on the type of transaction but typically range from $0.10 to $0.25 per transaction.

Payment Gateways For International Businesses

Below are some of the most popular payment gateways with all of their pros and cons you must be aware of before you choose any one of them for your payments.

1. PayPal

PayPal has a unique online platform that connects people and businesses, enabling the purchase of goods without any extra hassle or forcing you to undergo any strict registration requirements that take forever to complete. It has always marked itself as the solution that comes first to the mind when it comes down to online transactions.

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To receive payment Paypal keeps 2.4% – 3.4% along with a fixed transaction fee of $0.30 per transaction. The withdrawal rates may vary for different banks and currencies. You read detail here.

2. WePay

WePay has an amazing strategy placed out for its competitors to compete with. They offer all sorts of protection from any kind of fraud to ensure their customers they are providing credential details in a secured environment.

Their main focus is to provide their customers with the best of the best with no hidden or monthly charges whatsoever, with fast processing and reasonable rates they offer hassle-free payment platforms to win your heart over and put all your faith in them!

3. Stripe

Warning, their services are strictly provided in only 18 countries so far, but not to worry, they plan to expand their services to make it available across the globe. Stripe tends to charge a slight bit of transactional fees at the rate of 2.9% + $0.30, regardless of the location of the transaction being processed or the card type, respectively. A very unique pro of using Stripe is the in-built facility of payment, rather than a redirect away from your site unlike PayPal.

4. Google Wallet

Google Wallet accepts MasterCard, Visa, Discover, and American Express. There is no set up fee at all and their rates for transactions range from 1.9% + $0.30 to 2.9% +$0.30 each. But a major drawback so far is that the payment done using this particular app that allows to pay via Gmail, is restricted only for use in the US.

5. Skrill

Formerly known as MoneyBookers, Skrill is one the top payment gateways for international payments. They charge monthly fees of €19.95 from the merchants. The currency conversion rate is from 2.99% to 4.99%. Skrill charges 1% for the payouts your customers, suppliers or manufacturers.

6. Dwolla

This one depends on your concerns. If you are stressing over personal payments only for one country, like the US, this is your solution to all of those problems. Like most gateways they have an app dedicated for all Android, iOS and Windows devices. It tends to be a relatively faster platform than other as it takes hardly one business day to process your request.

They charge a minute amount of fees per transaction; $0.25, and there are no charges for a transaction less than $10, which is cheaper in comparison to most payment gateways.

7. 2Checkout

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Supporting 200+ countries with their rates starting from 3.9% per transaction alongside a fixed transaction fee of $.40; and as a bonus they do transfer to UAE bank accounts. They also offer 20+ currencies acceptance, including AED and USD. An additional charge of a monthly fee around $10.99 is sure to come your way.

The only downside is they can charge more than 5.5% per transaction as a fixed fee.

8. Amazon Payments

Amazon Payment provides the service of allowing customers to purchase their item(s) by using their Amazon account and storing their card and shipping details without going through the same hassle every time they want to make a purchase.

Amazon has 2 options laid out for the customer to take their pick.

  • Checkout by Amazon- This is targeted for ecommerce merchants that sell products/services respectively. This excludes the disadvantage of a redirect to another site and keeps your customers on your website.
  • Amazon Simple Pay- Highly recommended for the companies that sell digital products, such as E-books, Plugins, and WordPress themes, etc.

They offer their services in 28 countries respectively with zero set up charges and the transaction rate of 1.9% + $0.3 to 5% + $0.5 each.

9. Worldpay

They are super economical as they tend to have flexible transfer rates that are in favor depending on the size of the business. WorldPay offers a strong fraud screening to avoid unauthorized transactions or access customers’ data or information.

While supporting 36 countries, their biggest disadvantage would be the massive amount of initial setup charges which acts as a major discouraging factor for any new user to even consider proceeding with the process. Their initial setup charges are £75, with a transaction fees that starts from 1.9% + 10 pence, alongside a monthly fee of £15.

Not to mention the long waiting period before the task is completed, around about 4-6 weeks. Hence, you cannot rely on them for urgent payments.

10. Authorize.net

Managing their way through with transactions since 1996, they have been processing billions of transactions on the behalf of merchant customers.

Wholly owned subsidiary of Visa; they accept Visa, MasterCard, American Express, Discover, Diner’s Club, and JCB. Their setup charges are $99.00 with an additional gateway charge monthly of $20 and a Batch fee of $25. They support over 190+ countries with a transaction fee of $0.10 each.

If you like what you read and feel it’s okay to ask for a little help when you need it, then feel free to contact us, go-globe to make you an offer you simply cannot refuse!

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FAQs

Which payment method is best for business? ›

6 Best Payment Methods for Small Businesses
  • Direct Debit.
  • Card payments.
  • Digital Wallets.
  • Cash & Cheques.
  • Online payment gateways.
  • Email invoices.

How do I choose a good payment gateway? ›

Factors to consider while choosing a payment gateway:
  1. Cost. The most important thing you need to consider while choosing a payment gateway is the total cost that you'll incur. ...
  2. Types of cards allowed. ...
  3. Holding time. ...
  4. Multiple currency support. ...
  5. Recurring billing. ...
  6. Hosted vs. ...
  7. Security. ...
  8. Mobile payment support.
18 Jul 2020

Which payment gateway is most better? ›

8 Best Payment Gateways of 2022
  • PayPal: Best for doing everything in one place.
  • Square: Best if you also have a storefront.
  • Braintree: Best for accepting a variety of payment types.
  • Chase Payment Solutions: Best for a built-in banking partner.
  • Authorize.net: Best if your business has more complex payment needs.
18 Jul 2022

Which payment method is suitable in E business? ›

Debit cards are considered the best payment method for e-commerce transactions. Debit cards are usually preferred by customers who shop online within their financial limits.

What is the best payment method and why? ›

Credit cards are the most commonly used payment method in eCommerce. Since credit cards are easy and mostly safe to use, the high popularity of using them in online purchases is no surprise. Shoppers only need to enter their card details to finish buying the products at the checkout.

Whats the best payment method? ›

By and large, credit cards are easily the most secure and safe payment method to use when you shop online. Credit cards use online security features like encryption and fraud monitoring to keep your accounts and personal information safe.

What are the most important factors when selecting a payment gateway partner? ›

The success of the transaction and seamless and simple processing are the two major factors to consider by any business owner. They should choose a payment gateway that offers easy management options for payments that include payouts, refunds, and disbursements.

What is payment gateway with example? ›

In simple terms, a payment gateway is a network through which your customers transfer funds to you. Payment gateways are very similar to the point-of-sale terminals used at most brick and mortar stores. When using a payment gateway, customers and businesses need to work together to make a transaction.

What should I look for in a payment processing company? ›

7 Features To Look For In A Payment Processing Platform
  1. Find the Best Payment Processing Platform. ...
  2. Make Sure It's an Integrated Payment Platform. ...
  3. Look for Multichannel Payments. ...
  4. Look for Mobile Payments Support. ...
  5. Ensure Cost Effectiveness. ...
  6. Look for Data Analytics. ...
  7. Check for Simplicity. ...
  8. Check for Digital Security Measures.

Which payment gateway is best in UK? ›

The best online payment gateways for small businesses in the UK are:
  • Worldpay.
  • Paypal.
  • Stripe.
  • Amazon.
  • Shopify.
  • Opayo.
  • Cardstream.
  • How do I choose the right payment gateway for my business?

How many types of payment gateway are there? ›

4 types of payment gateway: a comparative guide.

Which is one of the popular payment gateways? ›

Cashfree is one of the online payment gateways of India, where it helps people to transact money between customers and vendors. It is used by 50,000 + businesses for payout in India.

What are the 3 methods of payment? ›

Payment Options
  • Cash.
  • Checks.
  • Debit cards.
  • Credit cards.
  • Mobile payments.
  • Electronic bank transfers.
12 Sept 2022

Which method is very popular for online transaction? ›

Credit or Debit Card: This is one of the most popular methods of online transactions, and these cards are referred to as 'plastic money'.

Which payment option is the easiest and most popular for online payments in your area explain in your own words? ›

Paypal. Paypal is one of the biggest and most familiar of all the online payment options. The site has over 254 million users. That's a lot of people who would have an easier time making a purchase on your website if you let them check out with Paypal.

What payment method can I use for my website? ›

The different types of payment options that you can integrate in your website are: Credit cards. Debit Cards. Bank Transfers.

What payment methods should your B2C site support? ›

In B2C e-commerce, payment methods are mainly “electronic” (bank card, paypal) and synchronous (in real time). A digital purchase path with card payment consists of a real-time authorisation request, which ensures that the money is available on the buyer's account. It is quickly debited.

Which payment gateway is best for ecommerce stores? ›

PayPal is the most commonly used payment gateway for ecommerce stores. It is an accepted payment gateway in more than 203 countries. It supports all prominent credit cards: Visa, Mastercard, American Express, Citibank, and more. To start dropshipping, you will need a business PayPal account.

How do you ensure payment when selling online? ›

But when dealing with more than $100, he recommends getting paid online with a service like PayPal or with a cashier's check to avoid issues. Personal checks can be problematic because you don't know whether the account has funds, whether it's fake or whether the check was printed using a stolen identity, says Hsiung.

What is the most popular form of payment? ›

The report states that although dropping 7% from 2019, credit cards remained the leading e-commerce payment method among American consumers, accounting for 32% of 2020 payments. Credit cards even maintained a small lead over digital wallets, which made up 30.4% of 2020 online payments.

How do small businesses collect payments? ›

9 Small Business Payment Options For Your Growing Business
  • Accept Credit Cards Securely. ...
  • Explore Mobile Payment Options For Small Business. ...
  • Offer Affordable ACH, or eCheck, Options. ...
  • Add Easy Email Invoicing. ...
  • Set Up An Online Storefront. ...
  • Create An Online Payment Gateway. ...
  • Make It Easier With Recurring Payments.

How do people pay small business? ›

Make sure you understand how the different methods work.
  1. EFTPOS payments. ...
  2. Credit card and debit card payments. ...
  3. Direct debit payments. ...
  4. Online payments (such as Paypal) ...
  5. Cash. ...
  6. Cheque. ...
  7. Money order payments. ...
  8. Gift cards and vouchers.
27 Jun 2022

What are the 3 methods of payment? ›

Payment Options
  • Cash.
  • Checks.
  • Debit cards.
  • Credit cards.
  • Mobile payments.
  • Electronic bank transfers.
12 Sept 2022

What is the best alternative to PayPal? ›

PayPal alternatives
  • Skrill. A Paysafe company, this payment method is a lot like PayPal. ...
  • Stripe. Stripe is our choice for the best online credit card processor for online businesses. ...
  • Square. ...
  • Venmo. ...
  • Payoneer. ...
  • Shopify Payments. ...
  • QuickBooks Payments. ...
  • Google Pay.

Which 4 methods allow clients to process digital payments from customers? ›

4 ways to facilitate digital payments
  • Mobile apps and digital wallets. Mobile payment apps facilitate payments for goods and services. ...
  • Pay-enabled invoices. ...
  • Manually keyed-in card information. ...
  • Card readers and mobile card readers.
16 Aug 2020

How do you offer a payment plan to a customer? ›

When setting up your payment agreement:
  1. Review your customers history before you call.
  2. Have two or more options for payment arrangements in mind before the call.
  3. Repeat everything to the customer.
  4. Get it in writing and have your customer sign it.
  5. Follow up and follow up.

What is better Stripe or PayPal? ›

While both companies specialize in online payment processing (over in-person transactions), PayPal is better suited for small or new businesses that are just getting started while Stripe is a better fit for larger companies, as it provides more options for payment customization.

How do you handle payment on a website? ›

The best ways to take payments online are:
  1. Accept credit and debit cards.
  2. Add a payment gateway.
  3. Set up a Direct Debit.
  4. Use eChecks.
  5. Integrate mobile wallet payments.
  6. Send click-to-pay invoices.
  7. Install recurring billing software.
26 Apr 2022

How do I set up online business payments? ›

How To Set Up An Online Payment Form Using Third-Party Software
  1. Research your options.
  2. Set up your merchant account.
  3. If you're not an expert, get one.
  4. Set up a hosting platform.
  5. Register your site.
  6. Build the payment form.
  7. Find a processing solution with an applicable API.

What other online payment providers would you consider using? ›

  • Authorize.net. With a user base of more than 445,000 merchants, Authorize.net is one of the Internet's most widely used payment gateways. ...
  • PayPal. PayPal is the world's most widely used payment acquirer, processing over 19 billion payments in 2021. ...
  • Google Pay. ...
  • Amazon Pay. ...
  • Dwolla. ...
  • Stripe. ...
  • Braintree. ...
  • WePay.
2 Mar 2022

Which method is very popular for online transaction? ›

Credit or Debit Card: This is one of the most popular methods of online transactions, and these cards are referred to as 'plastic money'.

Which is better Google Pay or PayPal? ›

It depends on how you expect to use your account, and the type of transactions you'll likely make. Google Pay has a lower fee for debit card transactions compared to PayPal, which may edge it ahead if you're anticipating funding payments that way.

What is PayPal's competitive advantage? ›

The PayPal edge

Even between the competition in social payments and business customers, PayPal stands out with its fintech offerings directly for consumers, allowing it to take the lead in specific fintech segments.

Is Apple Pay or PayPal better? ›

Apple Pay has 665 reviews and a rating of 4.74 / 5 stars vs PayPal which has 20047 reviews and a rating of 4.68 / 5 stars. Compare the similarities and differences between software options with real user reviews focused on features, ease of use, customer service, and value for money.

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