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Top 5 E-commerce Payment Processing Solution

When it comes to selling your products online, you need a reliable payment processing solution that will enable you to collect all the money from your customers. After all, they’re the ones who are willing to buy your products in exchange for money. While there are many ecommerce payment processing solutions available on the market, not every one of them is right for your business. Finding the right solution takes time and research. Hence, we have compiled a list of the top 5 ecommerce payment processing solution options that can fit any niche business perfectly. Read on to know more about which ecommerce payment processing solution is right for your business, and check out our other blog posts if you want to learn more about how e commerce works and tips on how to succeed with an e-commerce store.

PayPal Payment Processing

PayPal is the most popular and most widely used payment processing solution for online businesses. It offers merchants the ability to accept payments from buyers who may be located all over the world and also provides sellers with all the security they need as they receive payments online. Like other payment processing options mentioned in this post, PayPal is also an online wallet. This means that yYou can store your customers’ payment information so that they can easily pay you in the future.

Stripe Payment Processing

Stripe is an online payment processing solution that lets online merchants accept Visa, MasterCard, American Express, Discover, and other credit and debit cards. Besides, it also has support for online gift cards like Amazon, Walmart, and others. What makes Stripe stand out from the rest is that it’s a software as a service (SaaS) solution. This means that you have to buy an installation plan (or subscription) and then use Stripe’s software to manage your Stripe account and accept payments. 

Shopify Payments

Shopify is an ecommerce platform that lets merchants sell their products and services online. It comes with a built-in payment processing solution that supports various payment gateways and suitable for any business. Like PayPal, Stripe, and other popular payment processing solutions, Shopify also supports online gift cards like Amazon, Google, and others. You can also sell virtual goods and offer various payment options like Bitcoin. Another great thing about Shopify’s payment processing solution is that it allows you to receive payments from all over the world. This includes merchants from the US, Canada, Europe, and more. Shopify also offers a fully managed solution that includes a dedicated team to help you manage your store and assist you with sales, marketing, and other important tasks. 

PayPal Checkout API

With so many new payment options being introduced, it’s hard for merchants and ecommerce stores to keep up with them. PayPal Checkout is a simplified API (Application Programming Interface) that allows you to process payments with one API call. PayPal offers three types of API keys depending on your level of access. The first one is the Sandbox API key where you can test your store’s payments and see how it looks like. The second one is the live API where you can manage your store’s payments and the third one is the production API that allows you to completely control and manage your store’s payments. As mentioned above, PayPal Checkout enables you to receive payments through different payment methods like credit cards, direct bank transfers, and more. You can also set up recurring payments and charge sales taxes from the API.

Square Order API

Square is an electronic payment platform that lets you accept credit card payments online. Unlike PayPal, it doesn’t require you to open a merchant account to start accepting payments. On top of that, it lets you instantly sell your products online and offers various payment options like credit cards, bank transfers, and more. However, you have to set up an online store and link it to your Square account before you can start accepting payments. After that, all you have to do is let your customers choose the payment method they prefer and then you get paid. One of the great things about Square is that it’s free to use. You can also earn $10 for each payment that you receive through the platform.

Final Words

Ecommerce stores are essential for any brand or business looking to expand. However, choosing the best payment processing solution for your business can be challenging. We hope that our guide has helped you narrow down your search for the best ecommerce payment processing solution. Whether you’re looking for a fully managed service, a SaaS solution, or want to go with a cheaper payment gateway, we’ve got you covered. For more ecommerce tips to set up and launch your e-commerce business successfully book your zoom slot today at E-com Bizkit Incubators.