10+ Trustworthy Payment Gateways for Ecommerce Businesses (2024 Updated)

If there's one undeniable truth for ecommerce success, it's this: without a trustworthy payment gateway, you're risking cart abandonment, lost sales, and frustrated customers. 

Whether you’re launching a new online store or scaling an existing one, choosing the right payment gateway for ecommerce is ensure a smooth customer journey to the very end and avoid abandoned cart or high bounce rate. But with so many options, from PayPal to Shopify Payments, how do you know which one will fit your unique needs? 

In this guide, we'll break down 10+ reliable payment gateways for ecommerce and help you navigate the process to ensure seamless transactions and satisfied customers.

What Is A Payment Gateway?

A payment gateway is a technology that allows merchants to accept credit card or digital payments through your online store. 

What sets it apart is its ability to keep transactions safe—by encrypting sensitive customer data, it ensures that every payment you process is secure and confidential.

How Do Payment Gateways Work?

When a customer decides to make a purchase, they enter their payment information on your website (could be details of credit card or digital wallet), and submit the order. The payment gateway immediately encrypts this data, turning it into a secure, unreadable format. 

The gateway acts as the middleman, sending the encrypted payment details to the merchant account's bank. The merchant’s bank then communicates with the customer’s bank to verify that the payment details are valid and that the customer has sufficient funds. 

Once the customer’s bank approves the payment, this confirmation is sent back through the payment gateway to the merchant’s bank. The payment gateway finalizes the transaction by transferring the funds from the customer’s bank to the merchant account. 

Finally, both the merchant and the customer receive confirmation of the transaction, closing the loop.

Types of Payment Gateways

1. Hosted Payment Gateways

This type of gateway redirects customers to a secure payment page hosted by the payment provider. It’s easy to set up with built-in security features, so this type is ideal for businesses that prefer to minimize technical complexity.

PayPal is a popular hosted payment gateway that redirects customers to PayPal’s secure payment page. Customers enter their payment information there, and once the transaction is complete, they return to your site.

2. Self-Hosted Payment Gateways

With self-hosted gateways, the payment process occurs directly on your site, but the payment details are sent to a secure payment page for processing. It offers greater control over the checkout experience while still leveraging the gateway’s security measures.

Authorize.Net is an example for this type where customers enter their payment details on a form hosted on your site but processed externally. 

3. API/Direct Payment Gateways

These gateways offer a seamless integration by allowing payment processing directly on your site via an API (Application Programming Interface), which provides a smooth user experience with full control over the payment process. 

For instance, Stripe provides an API-driven payment gateway that integrates directly with your website or app. Customers input their payment details directly on your site, which are then processed through Stripe’s API without redirecting them elsewhere. 

4. Local/Regional Payment Gateways

These gateways are designed to cater to specific regions or countries, offering payment options popular in those areas.

iPay88 is a great example, caters specifically to Southeast Asian markets. It supports regional payment methods and currencies, making it easier for customers in those areas to complete their transactions using familiar payment options.

5. Custom Payment Gateways

Custom payment gateways are built to address specific business needs or industry requirements. You can design and develop a payment gateway tailored to your unique needs, including specialized features or integrations not offered by standard solutions.

This option provides complete control, customization, and integration capabilities, making it ideal for businesses with specific payment processing needs or complex requirements.

10+ Payment Gateways For Ecommerce Businesses - Features, Types, Pricing

1. PayPal

PayPal is a globally recognized payment gateway that offers a robust solution for accepting online payments. Known for its ease of use and extensive reach, PayPal allows merchants to accept credit card payments as well as PayPal transactions.

• Features: Accepts credit cards and PayPal payments, mobile-friendly, extensive fraud protection.
• Type: Hosted
• Pricing: Transaction fees typically range from 2.9% + $0.30 per transaction. Additional fees may apply for currency conversion and international transactions.

2. Stripe

Stripe is an API-driven payment gateway that provides integration directly on your website or app. Stripe supports a wide range of payment methods, including credit cards, debit cards, and digital wallets, making it a versatile choice.

• Feature: Customizable checkout, supports various payment methods, advanced fraud prevention tools.
• Type: API/Direct
• Pricing: 2.9% + $0.30 per successful transaction. Fees may vary based on country and payment method.

3. Square

Square is a payment gateway that also includes an integrated point-of-sale (POS) system. With its flat-rate pricing model and no monthly fees, Square is a cost-effective choice for businesses of all sizes. It’s particularly useful for businesses that operate both online and offline, offering features that cater to both environments. 

• Feature: Integrated point-of-sale (POS) system, no monthly fees, flat-rate pricing.
• Type: API/Direct
• Pricing: 2.6% + $0.10 per transaction for card-present payments; 2.9% + $0.30 for online payments.

4. Adyen

Adyen is designed for businesses with international reach, ideal for companies with a diverse customer base and complex payment needs. Adyen’s strength lies in its ability to offer real-time data and analytics, enabling businesses to make data-driven decisions and optimize their payment processes. 

• Feature: Global reach, supports multiple payment methods, real-time data and analytics.
• Type: API/Direct
• Pricing: Transaction fees are customized based on volume and risk profile. Contact Adyen for specific pricing details.

5. Authorize.Net

Authorize.Net offers a range of features designed to streamline payment processing for businesses, with options for recurring billing, fraud detection, and a virtual terminal for phone or mail orders.

• Feature: Recurring billing, fraud detection tools, virtual terminal.
• Type: Self-Hosted
• Pricing: $25 monthly gateway fee, 2.9% + $0.30 per transaction.

6. 2Checkout

2Checkout, now operating under Verifone, is a global payment gateway that’s designed to accommodate businesses with international customers, offering features such as customizable checkout pages and comprehensive fraud protection

• Feature: Global payment processing, support for various payment methods, customizable checkout.
• Type: Hosted/API
• Pricing: 3.5% + $0.35 per transaction. Additional fees for international transactions and currency conversion.

7. Braintree

Braintree, a PayPal service, supports a wide range of payment options, including mobile wallets like Apple Pay and Google Pay. With its focus on advanced fraud protection and seamless integration, Braintree is ideal for businesses that require a high degree of customization and scalability.

• Feature: Supports multiple payment methods including mobile wallets, recurring billing, advanced fraud protection.
• Type: API/Direct
• Pricing: 2.9% + $0.30 per transaction. No monthly fees, with additional fees for international and cross-border transactions.

8. iPay88

iPay88 is a payment gateway tailored specifically for Southeast Asian markets, offering localized payment solutions and multi-currency support. It caters to businesses looking to serve customers in the region with familiar payment methods and currencies.

• Feature: Localized payment methods, multi-currency support, fraud protection.
• Type: Local/Regional
• Pricing: Fees vary based on payment methods and volume. Contact iPay88 for detailed pricing information.

9. Payoneer 

Payoneer offers a global payment solution designed for businesses and freelancers who operate internationally, with support payments in multiple currencies and integrates with various marketplaces.

• Feature: Global payments, multi-currency accounts, integration with marketplaces.
• Type: API/Direct
• Pricing: Fees vary based on the type of transaction and currency. Typically includes transaction fees and currency conversion fees.

10. Skrill

Skrill focuses on low transaction fees and support for multiple currencies. It also offers a prepaid card option, allowing businesses and their customers to manage payments and funds with ease. 

• Feature: Low transaction fees, support for multiple currencies, prepaid card option.
• Type: Hosted
• Pricing: 1.9% + fixed fee based on currency for domestic transactions; higher fees for international transactions.

11. Amazon Pay

Amazon Pay leverages Amazon’s trusted payment system to offer a familiar checkout experience for Amazon customers. By integrating Amazon Pay, you allow customers to use their Amazon account to complete transactions on your site, which can enhance conversion rates and simplify the checkout process.

• Feature: Leverages Amazon’s trusted payment system, easy checkout process for Amazon customers, fraud protection.
• Type: Hosted/API
• Pricing: 2.9% + $0.30 per transaction. Additional fees may apply for currency conversion and cross-border transactions.

12. Shopify Payments

Shopify Payments is an integrated payment solution specifically designed for Shopify users. It offers a seamless checkout experience directly within the Shopify platform, eliminating the need for third-party gateways. 

• Feature: Integrated directly with Shopify, multi-currency support, lower transaction fees for Shopify users.
• Type: API/Direct
• Pricing: 2.9% + $0.30 per transaction for online credit card rates. Additional fees may apply for Shopify's lower-tier plans.

13. WooCommerce Payments

WooCommerce Payments offers native integration with WooCommerce, supports recurring payments, and works directly with WooCommerce’s reporting tools, providing an easy and efficient solution for managing payments on WooCommerce-powered stores. 

• Feature: Native integration with WooCommerce, easy setup, support for recurring payments, integrated with WooCommerce’s reporting.
• Type: API/Direct
• Pricing: 2.9% + $0.30 per transaction. No setup fees, and integration is straightforward for WooCommerce users.

How To Set Up a Payment Gateway (or Stacking Multiple) for Ecommerce Store?

Setting up a payment gateway

Step 1: Research Options
Identify the best payment gateways for your business based on region, customer preferences, and features like multi-currency support or subscription billing. Choose options that suit your platform, such as PayPal, Stripe, or local solutions like iPay88.

Step 2: Create an Account
Sign up with the gateway provider, submit verification documents, and complete the onboarding process. This step is crucial for starting to accept payments legally and securely.

Step 3: Integration
For popular platforms like WooCommerce or Shopify, install the gateway’s plugin. For custom sites, use the gateway’s API for seamless integration. Ensure that the setup works for mobile and web platforms if needed.

Step 4: Testing and Security
Test your gateway by processing transactions in a sandbox mode. Configure security measures like SSL encryption and PCI compliance for customer data protection.

Stacking multiple  payment gateways

Stacking multiple gateways helps you cater to different regions and customer preferences. For example, use Stripe for global payments and iPay88 for Southeast Asian customers. 

Set the primary gateway to handle most transactions, while the secondary gateway serves specific needs, improving payment flexibility and reducing cart abandonment.

Bottom Line

Choosing the right payment gateways for ecommerce can streamline transactions and drive growth—but why stop there? Elevate your business even further with a custom payment solution built specifically for your needs. At Golden Owl Solutions, we craft tailored, scalable payment systems that optimize your platform for success. 

Ready to take the next step? Contact us today and let’s elevate your business together!