An online business offers you a massive number of customers compared to a physical business. With time the online business has evolved and has become easy to do. Was it like always? No, it wasn’t. The payment gateways are the reason online business has become effortless. However, any merchant’s biggest concern has been accepting the payment that payment gateways have solved. There are several payment gateways, like Stripe, Paypal, etc., to cater to online sellers’ needs.
Are you still wondering how a payment gateway can make business easy? If yes, then you’re at the right spot. This blog is all about payment gateways and how they are scaling up online businesses. Read this blog to end to know the science behind payment gateways.
What is a Payment Gateway?
A payment gateway acts like a corridor that allows the payments to process. Online selling has no boundary limits; therefore, a person in the USA can sell in Australia or Africa.
However, when receiving payments, existing resources could be better and are compatible with modern-day business needs. Amid this, a payment gateway accepts payments worldwide and in different currencies, allowing everyone to sell their products easily.
Also Read: Top 9 Payment Gateways Of The US, Including Clover
To simplify things, we enlist some of the important payment gateways across the USA and what they offer to online sellers.
Network Merchants, LLC – NMI
NMI is a top payment gateway with amazing features. NMI is a fintech giant and has numerous products under its name. However, as far as the payment gateway is concerned, NMI offers services from branding, tracking, and reporting to billing. All these features help sellers to accept payments, generate revenue and expand their sales over time.
Paymetric/Worldpay
Previously known as Paymetric, it is now Worldpay. Worldpay is a payment gateway suitable for B2B payments. A wholesaler who wants to sell products in bulk to retailers worldwide might need Worldpay to accept payments. This payment gateway allows accessing more than 300 payment methods, either local or international.
PayPal (PayPal Commerce Platform)
PayPal is undoubtedly a reputable company for sending and receiving payments worldwide. Besides this, PayPal has transformed the world into a global village in the true sense because it processes transactions worldwide within seconds. Moreover, PayPal also has emerged as the leading payment gateway. A separate channel named PayPal (PayPal Commerce Platform) is there to help out retailers or sellers only.
If you are a seller and want to receive payment seamlessly, then PayPal might be a solution for you.
QuickBooks Payments
QuickBooks Payments is another option for sellers and merchants to process payments across the globe. This software is like other payment gateways, but it’s unique. QuickBooks Payments enable you to process payments anytime on any device. Not only this, but it also tracks your cash flow and provides accurate business insights. However, which makes this service stand out among others.
Opayo by Elavon
Opayo powered by Elavon adds to the ease of doing online business. Moreover, Opayo by Elavon has empowered online businesses and has paved the way for exponential growth for online sellers. The notable features of this service are its safe, secure, and amazing customer support, available 24/7.
PayPal powered by Braintree.
PayPal is continuously making efforts to empower online sellers with its services. For this, PayPal offers different services to cater to the needs of online sellers. And works to set up a full-fledged window service for online sellers. However, PayPal powered by Braintree is one of its services to streamline the process of payment receiving. This innovative service offers a better user experience and can significantly scale your business.
Stripe
Stripe is one of the most notable payment gateways in the US and the world. It is in neck-to-neck competition with giants like PayPal. Most retailers have entrusted this service, and it has delivered value beyond expectations. Stripe accepts payments in various methods, be it credit card, debit card, QR payments or Mobile authorized payments.
SecureNet
SecureNet is known for offering secure payment processing. Retailers who want to process high-risk payments have got the best choice in the form of SecureNet. This service has everything if you want fraud protection, load balancing, or cloud reporting.
Sezzle
The Sezzle attracts customers like a magnet because of its buy now, pay later offer. Sezzle allows customers to pay for up to 6 weeks after shopping. Not only this, it also offers split payments where customers can pay their bills in installments of four weeks. Due to this attractive offer, most customers prefer Sezzle. If you have this payment gateway for your store, it may help you to boost your sales.
Square
Square may be the last of our payment gateway listings, but it has much more to offer its subscribers. Therefore, Square is on the way to building an ecosystem that is friendly and accommodating to online sellers worldwide. Whereas Square takes pride in facilitating retailers and merchants. However, it offers quality services and discounts to the merchant community globally. If you, as a merchant, earn an annual revenue of more than $250k, Square enables custom pricing for you. Precisely you get the voice to negotiate rates and commissions with Square authorities.
Also Read: Top 9 Payment Gateways In The United States
Key Takeaways
For the success of an online business, a payment gateway has a key role. Your sales will boost if you have a payment gateway that can meet your business needs. If not, then you can face a sales decline. Apart from this, the longevity of a business is also dependent on the performance of a payment gateway.
Therefore, if you sell online or intend to sell online, ensure a service that accepts payment with various payment methods.
