10 Best Payment Gateways for eCommerce in 2020
Over the past few years, eCommerce has evolved in profound ways. For those who don’t know, eCommerce basically refers to the activity of buying and selling products over the internet. The products could be anything ranging from household items to handmade things.
The recent Coronavirus crisis has also given rise to numerous eCommerce sites. Whereas the well-settled ones like Amazon, Flipkart, and eBay is also doing well. If you are running a successful online business, it will be best to have domination over online.
These days, it’s relatively easy to set up an online business. You just need to hire a web developer to set up an eCommerce website to sell your products online. However, to accept the payment from the users, you would need a payment gateway.
Best Payment Gateways for Online Business
Since your entire business revolves around getting paid, the payment gateway becomes the most important thing. Hence, in this article, we are going to list down some of the best payment gateways for the eCommerce site in 2020. Let’s check out.
Well, if you have ever purchased services from freelancing sites, then you might be well aware of PayPal. Compared to other payment options, PayPal is more famous, and it can be the right choice for your online business. The good thing about PayPal is that it supports every international credit/debit card.
Along with it, PayPal also allows merchants to withdraw money in 56 currencies. PayPal also has a robust anti-fraud system that monitors the transactions of users 24/7.
If you are searching for the best Indian Payment Gateway solution, Razorpay might be the best pick. The payment gateway service was founded in 2014, and as of now, it has over 800K+ customers.
The great thing about RazorPay is its instant activation facilities and easy integration options. If you set up this payment gateway, then your customers would be able to use Credit/Debit card, net banking, UP, and wallets as a payment mode.
Well, Paytm is basically an online payment service that supports UPI. The good thing about Paytm is that it’s extremely easy to use. The good thing about Paytm is that every Indian user knows how to use this payment service.
The payment gateway of India supports all domestic credit and debit cards linked with 50 major Indian banks. Many famous Indian companies like Zomato, Jio, Swiggy, Uber, Ola, etc. are using this Payment service.
Square is one of the older payment gateways, but it is not technically a payment gateway. We can say that it is an end-to-end payment processor or virtual terminal. It is not a standalone payment gateway; it arrives as part of a more effective eCommerce solution.
Square’s software is highly multiskilled because it actually turns your customers’ devices into manageable point-of-sales terminals. Square can be seamlessly integrated if you are using WooCommerce, Wix, ShipStation, X-Card, Magento, OpenCart, WordPress platform for your eCommerce shop.
Well, if you are searching for a highly efficient payment service, then you need to give Payline a try. Payline payment gateway is known for its low pricing, and it provides options for invoicing, Recurring Billing, ACH payments, and a Payments Page.
Payline is designed to integrate with over 175 different online shopping card. It also has solutions to accept payments through mobile apps.
Stripe was first invented in 2011 and is a payment gateway that allows you to accept credit card payments simply by transferring money among your merchant account and a payment processor.
The payment gateway has a cloud-based infrastructure that is created for security, scalability, and safety. And Stripe can be utilized as a standalone solution for those who want to send out invoices and accumulate payments for commodities or services.
CCAvenue is the oldest payment gateways, yet it is the most leading Payment Gateway Service Provider that is sanctioned by Indian financial institutions to select Sub Merchants. Indian financial institutions ultimately empower CCAvenue, and it provides services to over 85% of e-commerce merchants.
The most useful thing about using CCAvenue is that it supports 200 different payment options including 58+ net banking options, 97+ debit cards, 14 Bank EMIs, and 6+ credit cards.
PayU is a fintech company that implements payment technology to online merchants. It controls the full payment model from receiving to processing payments by different payment methods.
PayU also allows web and mobile app integration. It has the best conversion rates with intuitive integration.
Instamojo is India’s largest on-demand payments & e-commerce platform that collects payments and generates free online invoices. It also ships products and allows users to get loans that will generate more power for their business.
Instamojo makes digital commerce universally available to produce newer possibilities & sustainable resources.
Although not very popular, PayKun is still one of the reliable payment solutions that you can opt for. PayKun is known for providing safe, secure, and fast transaction options.
As of now, PayKun supports 100+ different payment modes, and it has an easy refund policy. Compared to other payment gateways, PayKun offers faster payment settlements.
So, these are the best Payment gateways in 2020. You can use these payment options in eCommerce sites or accept any online payments. I hope this article helped you! Please share it with your friends also.