Tech News, Magazine & Review WordPress Theme 2017
  • Tech
    • Android
    • Home Tech
    • Medical Tech
    • Artificial Intelligence
    • APK
    • Apple
  • Business
    • Startups
    • Marketing
  • Reviews
    • Best Apps
    • Software
    • VPNs
  • Blogging
    • SEO
  • Crypto
    • Blockchain
  • Contact Us
    • About us
    • Careers
    • Use of Cookies
    • Privacy Policy
No Result
View All Result
Techavy
  • Tech
    • Android
    • Home Tech
    • Medical Tech
    • Artificial Intelligence
    • APK
    • Apple
  • Business
    • Startups
    • Marketing
  • Reviews
    • Best Apps
    • Software
    • VPNs
  • Blogging
    • SEO
  • Crypto
    • Blockchain
  • Contact Us
    • About us
    • Careers
    • Use of Cookies
    • Privacy Policy
No Result
View All Result
Techavy
No Result
View All Result

7 Top ecommerce payment gateways and how to integrate them on Magento

by Abhishek Yadav
October 14, 2019
7 Top ecommerce payment gateways and how to integrate them on Magento
573
SHARES
3.8k
VIEWS
Share on FacebookShare on Twitter

If you want to make your buyer’s journey on ecommerce website to be as smooth as possible, you need to concentrate on checkout is the most important part of this journey. What’s the key to a superior checkout experience? The right payment gateway! Ecommerce payment gateways enable merchants to safely transfer financial transactions and improve the checkout experience, making payments seamless for you and your customers.

Let’s discuss the key aspects to take into account when deciding which payment gateway is the best for your ecommerce website.

But firstly, what is the difference between a payment gateway, payment processor and what they have to do with a merchant account?

An ecommerce payment gateway is a service that approves credit card payments within your existing software

A payment processor are financial institutions that operate in the background to provide payment processing services to online sellers and keep the process secure.

A merchant account is a bank account where the funds get deposited after a successful financial transaction.

So the key role of the payment gateway is to decline or approve each financial operation, while a merchant account is in charge of receiving payments from credit and debit cards.

RelatedPosts

What is Business Intelligence?

Can You Perform A Business Registration In Ontario Online? 6 Things To Know

But how does a payment gateway work? There are four steps to follow in the payment gateway process:

Step 1: A customer selects the product he/she wants to purchase and places an order by submitting the credit card details at the checkout page. The information about the transaction is then forwarded to your payment gateway.

Step 2: The payment gateway receives the order paid with the most suitable payment method. The transaction is then directed to the issuing bank to request transaction authentication.

Step 3: After the authentication process has been completed successfully, the transaction is then approved or declined (depending on available costs in the customer’s bank account) as the issuing bank or card (Mastercard, VISA, Maestro, American Express) authenticates the transaction.

Step 4: The bank sends the money through the payment gateway and the payment gateway sends the money to the merchant account. It can be sent in a few minutes or as long as 21 working days depending on the payment gateway.

Contents

  • 1 What to consider when choosing an ecommerce payment gateway
  • 2 Top 7 payment gateway for Magento ecommerce stores
  • 3 PayPal Pro
  • 4 2Checkout
  • 5 Braintree
  • 6 Authorize.Net
  • 7 Stripe
  • 8 Amazon Payments
  • 9 Dwolla
  • 10 So how to add a payment integration on Magento?

What to consider when choosing an ecommerce payment gateway

These are the four main things to take into account when choosing a payment gateway:

  • Security features — How protected are the payments?
  • Payment integration capabilities — What different payment options are offered? What types of payments are accepted?
  • Ease of setup and use — Is it easy to integrate and use?
  • Cost — What are the fees for processing payment? Are there any monthly fees?

Top 7 payment gateway for Magento ecommerce stores

The decision of who to entrust your sensitive payment information to is always a difficult one. Below, there are 7 best Magento payment gateways for 2019 to integrate into your online store.

PayPal Pro

PayPal Pro is one of the best payment gateways and one of the most popular solutions both with customers and among online stores owners. It enables merchants to accept credit cards including Amex and Visa, PayPal, and PayPal Credit. PayPal Pro accepts 26 leading currencies, and it is available to use on over 200 markets. As a result, it is the most common request among all customers.

2Checkout

2Checkout supports 87 currencies and 15 languages. It accepts major payment methods including credit cards, debit cards, and PayPal. It’s one of the easiest ecommerce payment gateways as you just need to register, verify your account, and you can begin operating payments. No coding is required.

There are three customizable checkout options to choose from, and the service integrates with 100+ shopping carts. The system can also automatically bill customers a monthly subscription.

Braintree

Braintree is suitable for businesses of all sizes, from small shops to large enterprises. It is a full-stack payment platform that makes it easy to accept payments in your app or on your ecommerce website. Moreover, Braintree is best known for its smooth checkout experience, which provides a high level of safety that encourages repeat orders.

Authorize.Net

Authorize.Net won the trust of small and medium-sized companies by providing them an affordable and secure payment service. Its main advantage is in its simplicity. Also it is regarded as one of the best Magento ecommerce payment gateways around. Authorize.Net is a reliable and trusted solution which could be a great asset to your online shop.

Stripe

Available in 25 countries, Stripe delivers great payment services. If you’re looking to bill customers on a recurring basis, set up a marketplace, or simply accept payments, Stripe can do it all as a fully integrated, global payments platform. Moreover, it supports over 100 currencies and has features such as mobile payments, subscription billing, and one-click checkout.

Amazon Payments

It accepts major payment methods including credit cards, debit cards, and PayPal. Merchants are able to manage customers’ checkout experience by integrating 2Checkout’s API with the website. It’s one of the easiest ecommerce payment gateways as you just need to register, verify your account, and you can begin operating payments. No coding is required.

Dwolla

Dwolla is a scalable payment tool that operates with all US-based banks. As an open-source software, Dwolla enables developers to smoothly integrate bank transfers into native tools using its flexible ACH API.

So how to add a payment integration on Magento?

Once you have decided which payment gateway you will use for your online store it’s time to integrate it. So follow quick guide below to figure out how to do it yourself.

  1. First of all, you need to configure the modules. Go to Payment method module configuration.
  2. Next, configure the payment methods.
  3. Then, implement a payment method facade. It allows processing payments between a payment processor (a third party appointed by a merchant to handle transactions) and Magento itself.
  4. The last step is to set up and configure payment actions. Such actions are authorization, voiding, and others. Further descriptions on how to configure them are described in the Add a gateway command.

Keep in mind that the payment method you configure can be edited from the Admin panel, storefront, or even both.

Conclusion

Choosing the most suitable ecommerce payment gateway is crucial to the success of your retail business. By doing it sensibly, you can improve your customer’s experience, boost your brand’s affinity and increase revenue.

All you should do is consider the above-discussed factors and draw a comparison between the ecommerce payment gateways before selecting and implementing the right payment solution for you. Check them all out and go with the one that will be most beneficial to your company, keeping your requirements in mind.

 

4.2k
SHARES
ShareTweet

Subscribe to Techavy to never miss out on the latest tech news!

Unsubscribe
Abhishek Yadav

Abhishek Yadav

Hello, I am Abhishek Yadav, I am an Internet Marketer and a Blogger. along with blogging I also have some Programming and content marketing skills. Connect with me on Twitter @Abhinemm to know more about me :)

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • 123MOVIES Unblocked – Ten 123 Movies Proxies and Mirrors

    123MOVIES Unblocked – Ten 123 Movies Proxies and Mirrors

    5707 shares
    Share 2229 Tweet 1393
  • Kickass Proxy – 30 KAT Mirror Sites & Proxies ~ KAT UnBlocked.

    9872 shares
    Share 3934 Tweet 2459
  • AceStream Mac – How to install AceStream on your MAC

    1717 shares
    Share 685 Tweet 428
  • Thop TV: Watch Movies and TV Shows for Free

    808 shares
    Share 323 Tweet 202
  • How to Download Torrent with IDM – 100% Working

    1897 shares
    Share 755 Tweet 472

Latest Posts

What is Business Intelligence?

What is Business Intelligence?

March 14, 2023
image_2022_12_30T05_21_33_976Z.png

CapCut – The Free Online Video Editor

March 14, 2023
What is an Integrated Development Environment (IDE)?

What is an Integrated Development Environment (IDE)?

March 14, 2023
Kajabi

A Straightforward Review of Why I Chose Kajabi

March 15, 2023
Can You Perform A Business Registration In Ontario Online? 6 Things To Know

Can You Perform A Business Registration In Ontario Online? 6 Things To Know

March 10, 2023
The Benefits Of WiFi-Enabled Furnaces: Control Your Home’s Heating Remotely

The Benefits Of WiFi-Enabled Furnaces: Control Your Home’s Heating Remotely

March 11, 2023
Learn about technology, product reviews, SEO, AI and more on Techavy.com
Techavy

© 2021 Techavy | All Rights Reserved.

Resources

  • Home
  • About us
  • Contact Us
  • Privacy Policy
  • Careers

Connect With Us

No Result
View All Result
  • Home
  • Tech
  • Business
  • Software
  • Android
  • Blogging
  • Gaming
  • Startups
  • Review
  • Use of Cookies
  • Privacy Policy
  • About us
  • Contact Us

© 2021 Techavy | All Rights Reserved.