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Best Payment Gateways for E-commerce in 2020

Cillian McGillycuddy 28 July 2020 • eCommerce, Payment Solutions

Payment gateways let you take card payments online or in-store, via your webstore or through your Point of Sale (POS) system. Picking the right payment solution for your business is important.

So, which payment gateway is right for your store? We get this question a lot as there’s much to consider. There are many different online payment options, so with this guide, we break down the best payment solutions for online retail in 2020.

Here’s a summary of the top payment gateways before we go into detail as well as our topline recommendation:

Payment GatewayUS Pricing (Domestic Cards)Saved Cards (on NitroSell)Apple & Google PayAnti-fraud ProtectionRating
Stripe2.9% + 30¢ per transaction (more info)Advanced⭐⭐⭐⭐⭐
PayPal2.9% + 30¢ per transaction (more info)Basic⭐⭐⭐⭐
Authorize.net2.9% + 30¢ per transaction + $25 per month (more info)Basic⭐⭐⭐

NitroSell’s Recommendation:

We believe the best solution for e-commerce in 2020 is Stripe. Stripe is a flexible and feature-rich payment solution making it the best choice for retailers using NitroSell’s e-commerce platform.

Their pricing is competitive and if your business is based in the EU, then it’s a no-brainer as fees are reduced to 1.4% + 25¢ for European cards. There’s no setup, monthly, or hidden fees, just the fixed rate on every successful card transaction. Read on for more detail on why we think Stripe is number one.

Top 3 Payment Gateways for 2020

1. Stripe

Stripe is number 1 on our shortlist and with good reason. It’s a powerful payment platform designed for businesses selling products on the internet. It’s also a flexible platform that works well with any NitroSell webstore.

With that in mind, Stripe’s pricing is the most competitive for businesses doing business both in the US and EU. Stripe’s fees change based on where the business is based. For US businesses the fees on domestic cards are a competitive 2.9% + 30¢ per transaction. If the business is based in the EU, it’s 1.4% + 25¢ (20p) for EU cards, and 2.9% + 25¢ for International cards. For full pricing info check out their fees/pricing page.

Stripe also supports over 135 currencies which makes it a great choice for businesses across the globe. Combine this with its robust anti-fraud protection gives you a secure and reliable payment solution.

Stripe’s feature-rich platform comes with benefits like mobile payments and one-click checkout. Stripe’s checkout process is self-hosted meaning you don’t need to send customers away from your site to complete payment, delivering a better customer experience. For NitroSell retailers, Stripe also lets you save credit cards for repeat purchases. Stripe allows you to enable functionality for Apple Pay and Google Pay on your NitroSell webstore too.

For retailers looking to make the most out of their webstore, Stripe is definitely the number 1 payment gateway to use in 2020.

You can sign up for Stripe here.

2. PayPal

PayPal is the most widely used online payment solution. It is another highly customizable payment gateway that connects smoothly to NitroSell webstores.

PayPal has gained popularity as a payment solution that handles a lot of casual and personal payments, but it has also become a big part of the e-commerce space. PayPal’s universal appeal makes it another great choice for retailers as you can be sure to cater to a large percentage of your customer base (who likely already have PayPal accounts).

There are different tiers of PayPal, with the highest tier (PayPal Payments Pro) coming with a $30 monthly fee. Pricing on fees is competitive, with the same fees as Stripe (2.9% + 30¢ per transaction) and no monthly fees. There are no discounted fees for EU businesses, however, and the monthly fee for the higher tier puts it below Stripe on our list.

You can sign up for PayPal here.

3. Authorize.Net

Authorize.Net is one of the oldest payment gateways on the market. They’ve been in operation since 1996 and have built up a trusted base of customers and retailers.

With good fraud protection and the ability to accept credit cards and contactless payments, it’s been a popular choice for years, albeit lacking in the flexibility that modern payment gateways provide.

As with Stripe, NitroSell retailers can save cards on their webstores with Authorize.Net to enable faster checkouts for returning customers.

However, Authorize.Net doesn’t quite cut it in terms of fees when compared to the competition, Stripe in particular. On the lowest pricing tier, businesses will be paying $25 per month. For this reason, it comes in third on our list but is still a fine choice as your payment gateway.

You can sign up for Authorize.Net here.

Conclusion

A payment gateway is a key part of any e-commerce business. It’s always best to choose whichever payment gateway suits your specific business.

If you’re new to e-commerce or don’t want to get into the finer details of each payment gateway, then take our advice and go with a popular and recommended choice in Stripe.

If you’re a NitroSell retailer looking to switch your payment gateway to Stripe, then open a ticket or book a call with our specialist to discuss.

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