UNDERSTANDING ONLINE PAYMENT SYSTEMS
The world of online payment services may appear complicated, but at its core, it is just about making it simpler for your members, customers, or donors to support you in a way that is convenient for them. With the developing anti-fraud technologies, online payments have become almost safer than physical card payments.
Consumer behavior has evolved swiftly to adapt to the new technologies of online payment services. If you want to reach all of your prospective customers, contributors, or members, you must now offer an online payment option, regardless of your organization.
Top Online Payment Providers For Your Organization
Here are a few payment systems to consider for your company's online payment processing needs.
1- PayPal
PayPal is one of the most popular online payment options. PayPal offers payment processing services to e-commerce businesses, auction sites, and other commercial entities worldwide, as well as the ability to take credit cards such as American Express and Visa. It also allows for simple cart connection, a plethora of customization choices, online invoicing, and credit card payments over the phone. We selected it as the best for online businesses since it allows clients to pay with PayPal as well as almost every other payment method, all at cheap prices. Card processing is priced at 2.9% per transaction with no monthly costs, making it suitable for new and small businesses.
Consumer Behavior
evolved swiftly to adapt to the new technologies of online payment services.
2- Stripe
Stripe is yet another strong payment platform aimed at online businesses, with the company boasting that it handles billions of dollars in transactions each year. The primary distinction between this service and many others is that it is not a ready-made solution. Instead, you're given a set of adaptable tools to help you create your own payment procedures. It provides a variety of APIs for building your own subscription services, on-demand markets, or crowdfunding platforms. It supports several programming languages, including Ruby, Python, PHP, and Java. With an open source certification partner program allows businesses to work with Stripe Partners around the globe. Stripe also supports over a hundred currencies and provides features like mobile payments, subscription billing, and one-click checkout. Users also have access to a dashboard that allows them to visualize transactions.
3- Authorize.Net
Authorize.Net is one of the most established payment gateway companies. It was chosen as the best overall because it is simple to set up and use, works with almost any merchant account, and accepts payments from clients all around the world. It accepts more payment types than most other payment gateways and is one of the few that accepts PayPal. Authorize.Net gained the trust of small and medium-sized businesses by offering an economical and secure payment solution packaged with free mobile POS software for Android/iOS, a free website payment seal, and a free kit of fraud protection tools.
4- WePay
WePay is an integrated payment gateway designed specifically to meet the omnichannel, POS, and web-based needs of software platforms. We selected it as the best for many channels because it enables retailers to easily manage complicated payment requests across a range of online platforms. WePay's direct referral functionality allows your clients to get paid quickly and easily through Chase merchant accounts. It also gives consumers total control over payment facilitation. It supports a wide range of payment methods, including ACH, debit, and credit cards, and allows it’s customers to select monthly, weekly, or daily payouts.
5- BrainTree
Braintree is a one-stop payment processing solution for companies of all sizes and sorts. It enables clients to accept, send, process, and divide payments in order to optimize their business potential and revenue. Braintree's collaboration with PayPal underpins all of its activities. At the same time, Braintree provides powerful anti-fraud solutions to help you manage risk and combat existing and next-generation criminals.
Choosing a suitable payment gateway for your company's needs is mostly determined by its size. Accepting card payments is an everyday need for most businesses, and customers expect it. So look for ones that provide simplicity, value for money, and the flexibility to connect to POS systems as well as interact with your accounting software.
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