Deducing the most popular online payment systems – Know which to use

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As long as accepting and receiving online payments are concerned, there’s no doubt that PayPal is one that rules. In fact, PayPal is the de facto solution for online payment for most online customers, business owners and freelancers. It is true that people love PayPal for several reasons; technology has opened up opportunities for competitors to challenge the reigning solution. The competitors now offer fast transactions, cheaper fees and improved security. You can learn more on such companies that offer you online payment solutions.

Let’s take a quick look at few other online payment solutions so that you may choose the best from the list.

  • Net

One of the most widely used payment gateways is Authorize.Net. This online payment system has a base of more than 300,000 merchants and this has been the go-to method for majority of the e-commerce sites that require a gateway for accepting payments. This is one of the most commonly used platforms like Volusion, Magento and X-Cart. You have to pay a set-up fee of $99 and may cost up to $20 in a month.

  • PayPal

As already mentioned above, PayPal is undoubtedly the most widely used online payment system that has the record of processing more than $6billion payments in 2018. These payments are made by using the existing account of a user or with the help of a credit card. Even if you run e-commerce companies like Legioncompressionsocks.com, you can still accept online payments. Besides accepting payments, PayPal even lets its users to send money via the service. This feature is offered by very few payment solutions.

  • Google Checkout

Google’s answer to PayPal is Google Checkout. This payment solution lets users pay for their services and goods via an account that is linked with their Google or Gmail profile. The biggest benefit of Google Checkout is that thousands of internet users make use of Google for several other purposes and hence they find Google checkout extremely easy. The fees begin at 2.9% + $0.30 per transaction for sales which is less than $3,000.

  • Amazon Payments

Amazon Payments lets its users obtain money utilizing its API. Few of the famous crowdfunding sites like Kickstarter utilize Amazon Payments. The fees of this solution start at 2.9% along with $0.30 per transaction for those payments that are more than $10.

  • Stripe

Stripe offers one more helpful payment solution for web developers who would wish to incorporate a payment system into their company. They don’t have the conventional sign-up process and Stripe plays the role of a merchant account for the providers. It can tackle all merchant approvals and PCI compliance. Stripe is an online solution that charges 2.9% + $0.30/transaction with no other monthly or upfront fees.

Therefore, if you run a company that is based on accepting regular payments, you may use any of the above listed online payment solutions. Take into account the pros and cons of each solution before choosing them.

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