Every business needs a payment gateway to encrypt their customer’s payment information without compromising the validity of their transactions. It’s a means to determine whether a customer’s purchase has been approved or not, and every online business needs to embed these systems on their website. If not, how would you accept payments for the products or services you offer?
Here’s how it works; you’ll add your payment gateway of choice to your website, and your customers will pay you through it. It takes seconds, and the security embedded in them makes them safer.
This is why many US players use Cash App for gambling online, and we’ve found that this website offers the best selection of Cash App casinos. The peer-to-peer payment method is facilitated on the player’s mobile device with a Cash App account linked to their bank. The payment solution is fast, secure, convenient, anonymous, and easy to use for gambling and casino transactions.
If you’re starting an online business or want to make payments more flexible for your customers, you’ll discover the top 5 payment solutions for your business in this blog post.
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Top 5 Payment Solutions For Your Online Business
Your company needs to evolve along with technology. If you have transitioned from a physical store to a digital one, you need to adopt any of the following payment gateways to serve your customers better:
Cryptocurrency Payment Solution
Adopting cryptocurrency payment solutions could make your business more admirable to customers in a world that’s now friendlier with digital currencies.
The gateway will allow you to accept crypto coins and receive the equivalent fiat currency in your bank account immediately in concert with the exchange rate. Some companies, like Coinbase, facilitate this exchange, and this could be a great way to cut transaction costs.
The great thing about this payment solution is that you can accept money from anywhere globally since crypto is borderless. The transactions are swift, and you can get paid for your services in minutes.
This is currently one of the world’s most popular payment gateways, and it was founded in 1996. It provides services to almost half a million businesses and facilitates over billion-dollar transactions annually.
The platform has established a partnership with several payment systems like credit and debit cards, digital payment and e-check methods, all of which allows it to accept payment from any country in the world. It is also an easy-to-use platform since it’s navigable, the features are obvious, and you can prevent fraud by identifying fraudulent filers.
The payment solution also has a customer information management system, which means you can follow up with customers through their provided email addresses. Subscription to this platform is often $25 monthly, but transactions cost between 2.9% and $0.30.
This 1999 digital wallet became eBay’s in 2002 and has since been one of the most respected online payment solutions. It provides competitive fees and is easy to use for businesses.
You only need to create a business account (even if you have an individual one). PayPal accepts payment from several methods as it’s in partnership with providers like MasterCard, Visa, American Express, PayPal Credit, Discover, and a few others. This means you can process payments from several countries.
PayPal also helps businesses by providing online invoicing features and phone-based credit card payments. The company charges $30 a month and 2.9% + $0.30 on each transaction. It facilitates payment from over 200 countries in about 26 currencies, but only customers in the US can pay with their credit cards.
The 2011 company is in over 14 countries and claims that 90% of US-based online buyers utilize their platform for their online payments. It has a customizable payment method and competitive transaction fees since it supports over 135 currencies and payment types.
The outlet also prides itself in adapting to business’s needs and is integrated with platforms like Shopify, Wix, BigCommerce, Squarespace, among others. It also has a virtual Point of Sales Terminal (POS), which makes mobile and contactless payment easy and possible.
Unlike other reviewed payment gateways, it doesn’t have a subscription fee but charges between 2.9% and $0.30 on every transaction your customers make.
Founded in 2010 and acquired by PayPal in 2013, Braintree has mostly been considered the best system for startups. This is because it accepts all major payment types, over 135 currencies, and has an easy-to-use design.
Since it’s a subsidiary of PayPal, it benefits from the network of PayPal and also helps companies manage their data, encrypt data, access reporting tools, and enjoy automatic account updates. Transactions cost between 2.9% and $0.30 on Braintree, and the platform provides data migration assistance and fraud prevention services.
If you are a business that would like to add a third party to your software to know your tax rates, you can do this with Braintree.
The Bottom Line
You can’t effectively operate your online business without payment transactions, and only reliable gateways can facilitate those processes. The payment options mentioned above are some of the best available right now.
But how can you pick the right solution for your online business? The solution is to think about what your company needs right now.