When it comes to online business than the most important instrument is the flexible payment processing which allow users to do transactions online without any hesitation. Everyone looks forward for a best solution which provides competitive low rates with better customer service. In this post we will consider some of the most used payment processing platforms.
Authorize.net is the most widely used platform with 375,000+ Customers and more than $88 Billion annual transaction volume. It is the best solution for e-commerce sites. Broadly used e-commerce platforms like Magneto & X Cart are capable of accepting payment through Authorize.Net.
Authorize.Net has a onetime setup fee of $99. Monthly fee $20 for a payment gateway account with $0.10 transaction fee.
Paypal is the world’s most roughly used payment platform with 132 million registered active accounts in 193 markets. You can make payments directly through credit card or with your existing account anytime.
Payment charges 2.9% + $0.30 per transaction and has no setup or monthly fee.
Skrill is also the best alternative for online payment solution. Over 36 Million accounts and 135,000 merchants trust them to send and receive money worldwide. It is also supported by many individual webmasters and webhosting companies. Skrill is famous for their online gaming services.
Withdrawal fee is around $2.39 – $4.65 and sending money cost 1% (up to $0.67).
Dwolla is Des Moines-based payment network and a newcomer in third party payments space. It is considered as a direct competitor to Paypal because of the lowest fees. But as a new comer in payment processing it doesn’t have the same name recognition as its competitor has.
Dwolla charges nothing for transaction less than $10. For transactions over $10, $0.25 is charged per transaction.
Wepay is a payment processing website which accepts variety of transactions. Customers can easily send invoices, charge credit cards and accept payments directly on their website. It is a best platform to start receiving payments online.
With no hidden monthly and setup fees it charges 2.9% + $0.30 for credit cards payments and 1% + $0.30 for bank payments.
There are plenty of other online payment options available. It is not the comprehensive list, if your favorite payment processor is not in the list than share it with us and if you are using any of these than don’t forget to give us a review. From your reviews we can keep the all major options in the bag.
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