The ultimate payment gateway list to help your business remain strong

For the online payment process to initiate, payment gateways must come into play, which hints at the importance of pondering a curated list of payment gateway options.

According to Insider Intelligence, as global retail e-commerce continues its upward trajectory, the revenue payment processing fetches in fees is forecast to hit $138 billion in 2024. In Q2 2019, e-commerce sales in the US alone totaled $146.2 billion, accounting for nearly 11% of retail sales.

Since merchant accounts and consumers prefer being digital-first, payment gateways are gaining greater prominence. However, an ever-expanding list of payment gateway means finding the best provider can be daunting. To help with this decision, we have dived deep into the online payment gateway list and explored the nooks and corners so that you can derive valuable insights into it.

Learn how a payment gateway list in the world works for you.

But first, let's get some basics out of the way, such as what is a payment gateway?

What is a payment gateway?

A payment gateway is a piece of software that enables sellers to accept electronic payments efficiently. It serves as a virtual terminal and front-end processor for online and mobile merchants, providing bundled services that include payment acceptance, data reporting, and fraud management.

How do payment gateways work?

In simple terms, a payment gateway acts as the central cog in the payment processing system, whether you sell online or in-store. It typically operates as follows:

List of payment gateway – An insight into the mechanism.

1. The customer initiates a payment transaction by providing information such as a credit card number, expiration date, and CVV code. This information is entered into the secure web page or API of the payment processor.
2. The payment gateway encrypts the payment details with SSL (Secure Socket Layer) encryption, ensuring the data is transmitted over the internet.
3. The payment gateway sends the encrypted payment details to the payment processor for authorization.
4. The payment processor forwards the payment information to the appropriate card association (Visa, Mastercard, and so on) for verification.
5. The card association verifies the information. It either approves or declines the transaction.
6. The payment processor receives the response from the card association and sends it back to the payment gateway.
7. The payment gateway receives the response from the payment processor and displays the appropriate message to the customer, either approving or declining the transaction.
8. If the transaction is approved, the payment gateway sends a confirmation message to the merchant's website, indicating the payment has been processed.

Payment gateway list in the world: Main types

Payment processors are the backbone of online transactions, providing a secure and efficient way of accepting payments. The online payment gateway list generally consists of on-site, checkout on-site, payment off-site, and redirects.

On-site payment

It refers to the entire transaction processing on the merchant's secure website. Large-scale businesses often prefer this method because it allows for greater control and responsibility, which can significantly affect the shopping experience and payment processing, particularly for high-volume retailers.

However, this approach also requires maintaining up-to-date software and SSL encryption. Every aspect of on-site payments is critical and small changes can reap significant bottom-line improvements.

Checkout on-site, payment off-site

The payment gateway involves the front-end checkout occurring on the merchant's website, while payment processing occurs in the back-end of the payment gateway.

Although it streamlines payment procedures and provides better back-end security, this method may not allow complete control over the user experience through payment processors.

Redirect

Redirects, which include alternative payment methods such as PayPal, allow customers to complete transactions on a different platform.

Small businesses can benefit from this approach because it integrates the convenience and security of a larger platform.

However, it can also give the merchant less control over the payment process and add an extra step for customers.

As the world continues to shift towards online transactions, having a payment gateway list in the world is becoming increasingly critical for businesses of all sizes. With so many payment gateway options available, choosing the right one for your business can be overwhelming.

Now, we will break down the online payment gateway list that can help streamline your payment process and enhance your shopping experience. Let’s keep going.

The most common choices from the payment gateway list

Payment processors: Top choices + Their benefits.

takepayments

takepayments offers a wide range of reporting options and accepts over 170 currencies. However, compared to its rival Square, which provides a free EPOS app and hundreds more integrations, it may not be the best fit for your business if you require a comprehensive EPOS system.

Although takepayments accepts the largest number of currencies among the providers we examined, these are available via APIs and not built-in, requiring some technical expertise to set up. If you prefer a simpler option, Stripe is a mobile reader that accepts over 135 currencies.

Zettle

Zettle is suited to a different type of business owner. It caters more to mobile users, startups, and small vendors, and was voted as the best card machine by us. Zettle's main advantage is that it doesn't have long-term contracts, while takepayments requires a minimum 12-month contract with variable fees.

What sets Zettle apart is its impressive range of 35 integrations, much more than what SumUp, Stripe, Revolut, or Tyl offer. It makes Zettle easier for entrepreneurs to integrate payment processing into their accounting, banking, and e-commerce software, which is ideal for running a flexible and agile business, such as a pop-up bar, sample sale, or trade stand.

Stripe

Stripe payment gateway boasts pre-built API integrations seamlessly integrated with almost any e-commerce application you may use, including widely-used platforms such as Shopify, Magento, and WooCommerce.

Stripe offers outstanding customer support with live chat, email, and phone support options. Additionally, Stripe payment gateway’s lack of credit checks is good news for customers who may have a poor credit score but still want to use payment gateway services.

Worldpay

For small businesses looking to expand and thrive, we recommend Worldpay payment gateway. Its compatibility with over 100 integrations makes it a seamless fit with your current apps, facilitating the scaling of your payments and accounting processes. As your business evolves, you won't have to switch providers; rather, you can choose the integration that suits your changing business requirements.

In addition, Worldpay's 30-minute fund transfer time is unrivaled by other providers, surpassing even Square's next-day window. This swift transfer time makes it an excellent choice for businesses that require a predictable cash flow.

Square

Square and Worldpay offer excellent customer support, including email, phone, and live chat options. If you are deciding between the two, it depends on your business needs.

If you are looking for a free and comprehensive EPOS system to use alongside your card reader, Square is the way to go. However, if you prefer a traditional card reader and need faster fund transfers, then Worldpay is a better fit for you, as it offers 30-minute transfer times.

PayCEC

Last but least on the list of payment gateway in the world is PayCEC, a payment network that allows merchants to be paid at a time and place convenient to their customers and withdraw money in multiple currencies. Aside from convenience, innovation, and affordability are often cited as why retailers of all kinds trust PayCEC.

PayCEC adheres to the PCI SSC, a set of regulations designed to reduce fraud and safeguard confidential card information. PayCEC operates following PCI requirements to ensure a secure business environment.

Furthermore, the company uses the Secure Sockets Layer (SSL) protocol to establish a link between a client and a server while encrypting all transmitted data, paving the way for secure consumer-business transactions.

PayCEC keeps evolving to stay ahead of the curve, incorporating the latest payment methods and emerging technologies to make the online payments experience smarter. By choosing PayCEC, you will always have the luxury of being able to enhance the online shopping experience and skyrocket your sales.

Besides, you can check out the full online payment gateway list below:

• Paytm payment gateway
• Razorpay payment gateway
• Ccavenue payment gateway
• Instamojo payment gateway
• Woocommerce payment gateways
• Atom payment gateway
• Cybersource payment gateway
• Swipe payment gateway
• Firebase payment gateway
• Paypal payment gateway
• Strike payment gateway
• Payu payment gateway
• Billdesk payment gateway
• Wix payment gateway
• Braintree payment gateway
• Skrill payment gateway
• Payoneer payment gateway
• Paykun payment gateway
• Payumoney payment gateway
• Telr payment gateway
• Phonepe payment gateway
• Razor payment gateway
• Flutter payment gateway
• Elavon payment gateway
• Citrus payment gateway
• Google pay payment gateway
• Cc avenue payment gateway
• Bill desk payment gateway
• 2checkout payment gateway
• K payment gateway
• Bkash payment gateway
• Adyen payment gateway
• Magento payment gateway
• Midtrans payment gateway
• Mobikwik payment gateway
• Paysera payment gateway
• Bigcommerce payment gateways
• Easypaisa payment gateway
• Citrus pay payment gateway
• Ecwid payment gateways
• Ipay payment gateway
• Eway payment gateway
• Migs payment gateway
• Airpay payment gateway
• Ideal payment gateway
• Etisalat payment gateway
• Juspay payment gateway
• Transferwise payment gateway
• Sonali payment gateway
• Flutterwave payment gateway
• Payfort payment gateway
• Jazzcash payment gateway
• Sbiepay payment gateway
• Yoco payment gateway
• Zoho payment gateway
• Knet payment gateway
• Clickfunnels payment gateways
• Ipay88 payment gateway
• Amazon pay payment gateway
• Payubiz payment gateway
• Myeg ph payment gateway
• Pinelabs payment gateway
• Xendit payment gateway
• Easebuzz payment gateway
• Paystack payment gateway
• Revolut payment gateway
• Western union payment gateway
• Squareup payment gateway
• Fondy payment gateway
• 2co payment gateway
• Payline payment gateway

Which on the payment gateway list is right for you?

Payment gateway list in the world: Choosing a processor.

Selecting the optimal payment gateway for your enterprise involves assessing various factors. Among them, a crucial aspect is identifying your customers' preferred shopping channels.

For instance, if a large portion of your sales comes from brick-and-mortar stores, find a payment gateway that provides cost-effective solutions for in-person payments. If you operate an online store and need to process credit card payments, find a payment gateway list comprising those that facilitate secure online transactions.

Another salient aspect to consider is the payment preferences of your clientele. It is imperative to ensure that the payment processor you opt for supports the payment methods your customers favor. Additionally, it is worthwhile to determine whether the payment gateway offers added functionalities or services that bolster the utilization of these payment modes.

The monthly sales volumes are also vital when looking through a payment gateway list. If your sales volume is substantial, you may have room to bargain and choose a payment gateway that proposes reduced rates for high volumes. If your sales volume is low, consider a payment gateway that levies a higher per-transaction fee without a monthly charge.

It is crucial to scrutinize a comprehensive online payment gateway list to pinpoint the optimal match for your business. We recommend identifying a provider offering a well-balanced amalgam of features, services, and pricing to facilitate your customers' payment inclinations and sales volume.

Read more:

• Payment gateway for unregistered business
• 4 types of payment gateway - Advantages and disadvantages
• What is difference between 2D and 3D payment gateway?
• Multi currency payment gateway & multi currency merchant account
• What are the benefits of online payment gateway?
• Learn About SEPA Payment Gateway and SEPA Payment Method

About PayCEC

PayCEC was established in response to the growing need of businesses to accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.

PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their business accounts in various currencies.

We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.

PayCEC Team

• [email protected]
• +44 2032 864370
• www.paycec.com