Best Payment Gateways For E-Commerce And Drop shipping Store In 2023

February 3, 2023 admin

Drop shipping is a business concept in which a retailer does not stock the things it sells. Instead, it obtains the product from a third party and sends it straight to the customer. Consequently, the retailer or seller frees from the burden of directly dealing with the goods.

According to Grand View Research, the worldwide drop shipping market estimates to reach USD 557.9 billion by 2025, growing at a CAGR of 28.8% over the forecast period. That said, many aspiring business owners might question whether they should enter this lucrative market or not.

Let’s find out!

What Is Drop shipping Payment Gateways?

A payment gateway is a network your buyers use to send money to you. The point-of-sale terminals used at most physical stores are similar to payment gateways. An eCommerce payment gateway handles all of the store’s transactions. The payment gateway accelerates and simplifies online payment processing. Users can click the payment gateway link and input their credit card details to finish the transactions. The payment gateway will subtract necessary fees and deliver the remainder to the drop shipper’s bank account. The drop shipper may then transfer the cash into their bank account.

Tips For Selecting The Best Payment Gateway

Selecting a payment gateway for your eCommerce store can be challenging. Here are tips to help you decide:

Select a well-known payment gateway in the country where your products will offer.
Check to determine whether the transaction fee for the online banking gateway is acceptable.
Whether you wish to expand into the global market, check if you can utilize that gateway.
Check to determine whether it is compatible with drop shipping shops. Most eCommerce gateways do not prefer drop shippers because of higher return rates.
Examine if it creates a pleasant shopping experience for customers.

Best Payment Gateways For Ecommerce And Drop shipping Stores In 2023

The top payment gateways are based on payment types, cost, simplicity of use, integrations, support, and other aspects. Some of our favorites are included here.

Paypal

Paypal is probably something we’ve used before, and the brand is self-explanatory and combines usability, reliability, and security.

According to Statista, there were 277 million active PayPal users globally in 2019. This figure is up from 237 million at the start of 2018.

Google Pay

Google Pay, another intriguing payment gateway provided by one of the most trustworthy and well-known brands, Google, leaves no stone untouched in making client transactions simple and worthwhile.

The eCommerce payment gateway, which focuses on eCommerce businesses, mobile applications, and in-person checkouts, is utilized by some of the industry’s biggest names, including Airbnb and StubHub.

Google Pay is quite simple to include in your eCommerce site. You may do it yourself by creating a website through the Shopivana website builder. You only need to acquire the API access and add it to the site.

Apple Pay

If you’re seeking the most popular contactless payment method, you should give Apple Pay a go. You may use it for your drop shipping business, enabling clients to pay with Apple Pay by clicking a button. The contactless payment gateway accepts Mastercard, Visa, American Express, and other credit cards.

Square

Look no further than Square if you need an eCommerce payment gateway solution that can get you paid quickly, prevent fraud, and offers simple pricing. As a POS system focusing primarily on in-person payments, this one has your website’s most significant eCommerce features.

Pay line

The next thing on the list is everyone’s favorite. This one, like others, provides a smooth and hassle-free payment experience. But it is worth considering how it eliminates difficulties when working with a payment provider.

Among its intriguing products are gateway payment processing and a solution with necessary integration with over 175 online shopping carts. They also agree with the idea of collecting payments via mobile applications. The Payline payment processing gateway, in general, interacts with QuickBooks for easier payroll administration and company financials.

Authorize.Net

It doesn’t matter which payment processor you select for your eCommerce company; Authorize.net tends to speed up all payment operations. It can take PayPal payments, Apple Pay, and most major credit cards.

It accepts Visa, MasterCard, American Express, Discover, Diner’s Club, and JCB credit cards. Authorize.net is also compatible with digital payment providers like Apple Pay, PayPal, and Visa Checkout.

Moneris

Moneris is among the top payment gateway examples. This application is a multi-functional online payment solution for your online shop. In particular, Moneris integrates several properties that eCommerce payment gateways share, such as enhanced online security, online credit card payments, rapid processing, and simplicity of use.

Notably, its virtual terminal can simultaneously provide real-time transaction processing with several users on various machines.

Read Also – What Is Ecommerce Automation?

Dwolla

Dwolla is another cutting-edge payment gateway service designed to improve monetary transactions and customer experience. This program is appropriate for organizations of all sizes and levels looking for an easy-to-use payment solution.

Dwolla payment extension enhances virtual shop operations by providing a set of user-friendly application programming interface functionalities. Aside from that, this internet gateway provides customizable client management and appropriate account verification. In the backend of transactions, multi-layered payment and invoicing processes run seamlessly.

Stripe

Many of you may be familiar with Stripe as another eCommerce payment gateway. However, it has risen to the top rankings in record time. Stripe is an excellent solution if you want to build an eCommerce business, a subscription service, or an on-demand marketplace. It is one of just three eCommerce payment gateways that Squarespace accepts.

This one, with a broad emphasis on mobile eCommerce, SaaS, non-profits, and platform-based payments, allows you to engage with new audiences, test new methods, and optimize renewals like no other.

Helcim

Last but not least, Helcim is comparable to all of the previously listed eCommerce payment gateways. Its main advantages include being very adjustable and having some great-looking themes accessible.

If you already have an internet shop, don’t worry; they have you covered. Whether adding payment choices to your site without technical knowledge or connecting with third-party applications, simple ones like Drupal and Magento, their fully-hosted payment solution can quickly provide results.

Bottom Line

It’s no surprise that the importance of digital wallets seems to be growing at a breakneck speed. It’s time to recognize that not all of your consumers are the same, and neither are their payment preferences.

So, try out several payment gateways and choose the one that works best for you. Nothing can stop you from generating more sales and lowering shopping cart abandonment rates in the long run if you have any of the above eCommerce payment gateways!