Last Updated on July 12, 2020
If you own an online business, you need to know how to accept payment. There are many payment services out there. Some of them have larger transaction fees, while others support fewer countries. Some even have sign up fees. Furthermore, different payment services accept different credit cards.
At a quick glance online payments look intimidating. There’s a lot to think about. Figuring out which service is right for your business is an important step. Why? Because you want to set it up once and not worry about switching in the future.
Online payment processing is a fierce business. Choosing the right middleman is basically like starting a long term relationship with somebody you trust, love*, and respect. So don’t rush and be sure to evaluate all of your options.
To help you get started, we provided some of the best services available. Read through the list of online payment services below to find the one for you.
2Checkout charges a fee of 2.9% and $0.30 per transaction for US sellers. Sellers in other countries need to pay 5.5% and $0.45 per transaction. This service allows users to pay using most major credit cards or PayPal. 2Checkout supports over 200 countries.
Amazon Payments charges from 1.9% and $0.30 per transaction to 5% and $0.05 per transaction. Most major credit cards are accepts. One downside is that Amazon Payments only supports 28 countries.
Authorize.net has a fee of $0.10 per transaction and an addition monthly fee of $20 or a batch fee of $25. There is also a $99 sign up fee. The service accepts most major credit cards. It also supports over 190 countries. However, only US sellers can create a gateway account.
Braintree charges 2.9% and $0.30 per transaction if you’re qualified. There are no additional or monthly fees. It supports most major credit cards. Braintree can also support over 130 currencies.
Chargify has a monthly fee. Users can select the package that works best for their business. There are options for both small and large businesses. If you surpass the amount of transactions in your package, you are charged per additional transaction.
Dwolla is angled to compete directly with PayPal. So, if you are looking for a PayPal alternative this may be a good choice. Transactions over $10 incur a fee of $0.25, while transactions under $10 are free.
Google Wallet charges 1.9% and $0.30 per transaction to 2.9% to $0.30 per transaction. Unfortunately, this service only supports the US. There is no sign up fee, and MasterCard, Visa, Discover, and American Express are supported.
Gumroad accepts all major credit cards. This service charges 5% and $0.25 per transaction. There are no additional fees. One of the nice things about this service is that Gumroad only makes money if you do.
PayPal is one of the most popular online payment services. It charges 1.9% and $0.30 to 2.9% and $0.30 per transaction. They support most major credit cards and over 190 countries.
Quickpay charges €0.015 to €0.067 per transaction. This tool is unfortunately only available for European countries. There is also a monthly fee of €25. Most major credit cards are accepted.
Recurly charges users a monthly fee. There are two options, one for small businesses and one called ‘enterprise.’ There is also a fee per transaction at $0.10. You can sign up for a free trial to see if this payment option is the one for you.
Sagepay charges a monthly fee of €25. There is no signup fee. Sagepay restricts use to the UK and Ireland. They accept most major credit cards and PayPal.
Skrill has over 100 payment options that sellers can select from. It supports 200 countries and processes payments very securely. This is a great choice for small businesses. Most major credit cards are supported by Skrill.
Stripe charges 2.9% and $0.30 per transaction and has no additional fees. This is a great choice for web developers who are integrating a payment system. Stripe accepts most credit cards.
WePay has a fee of 3.5% per transaction. Bank payments can also be processed for $.50 per payment. There are no additional fees, and WePay takes most credit cards.
WorldPay charges 1.9% and 10 pence per transaction. There is also a signup fee of £75 and a monthly fee of £15. WorldPay supports 36 countries and accepts most major credit cards, along with PayPal.
There’s a lot to consider in choosing your online payment system. If you are a large business, you may want to find a system with a monthly fee. If you don’t make many transactions, you may prefer paying per transaction. Explore the possibilities and find the one for you.