Let’s say you’ve built this awesome new online store and you are ready for the big rush of visitors. However, before the store can open, your customers will need a way to pay for all of the amazing stuff in you’re selling.
There are many options for you when it comes to accepting payments and payment processors. With so many players in the industry, it can be hard to know which to choose. In this video, we cover our top five favorite payment gateways for your online store, and what makes them our favorites. You will learn about:
One of the most widely used payment processors. PayPal does take a cut of the sale, but with 82% higher conversion rates than other processors, it might be worth it for you.
Another massive player in the market, Amazon Pay will make it easier for Amazon customers to check out at your store without having to enter payment details. Like PayPal, there is a transaction fee, but with the wide reach of Amazon supporting you, this might be the way to go.
If anyone can compete with PayPal and Amazon for market share, it’s Google. Google Pay is another secure option for your customers where they do not have to enter payment details directly to your store. Google Pay also lets retailers set up loyalty programs, digital gift cards, and deals for customers so everyone can skip the paper and plastic cards. And Google Pay works with PayPal and Visa Checkout for added reach. Notably, they don’t charge you anything for using the service. It’s free for both you and your customers.
For people who use Apple devices—and that’s more than 64% of people in the U.S.—Apple Pay works as a mobile wallet when they’re out and about, and a one-click payment option on websites that accept it. For mobile users, customers can even check out with Apple Pay by using their touch identification—it doesn’t get much easier than that. You can set your website up to accept Apple Pay by using their API, as long as you already use one of the compatible platforms or payment providers. Like Google, Apple’s payment gateway is completely free for both merchants and customers.
If you also need a payment processor for in-person transactions, then you may want to take a look at Square. In addition to payment processing, they offer an easy checkout solution that allows customers to set up profiles at the same time that they provide their payment information. Like many of the other solutions, Square charges 2.9% plus $.30 per payment.
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