6 Top Payment Processing Companies For Ecommerce

Posted 2 years ago by Anastasia Prokofieva

Setting up桂your Ecommerce business involves a桂lot of桂under-the-surface components that are critical to桂providing a桂smooth customer experience. Digital commerce relies on, among other things, a桂smooth interface, product visibility, pricing transparency, and桂reliable payment processing.

Online payment processing providers make Ecommerce possible for桂many new or桂small businesses. Processing digital payments require fast, secure communication between the桂vendor and桂the桂customer�셲 bank. Without payment processing providers to桂facilitate this process, digital transactions would be桂virtually impossible.

When setting up桂your business for桂Ecommerce, you will have a桂number of桂online payment companies to桂choose from. Some of桂these payment processing companies are better for桂handling large volumes, while others might be桂better for桂those who prefer high security. Whatever the桂unique needs of桂your business, there are likely multiple payment processing providers that suit you. Here are some of桂the桂top payment processing companies for桂Ecommerce businesses.

PayPal

Best For:
Low volume transactions

Online Payment Fees:
3.49% of桂payment prices, plus a桂$0.49桂transaction fee.

About:
is桂one of桂the桂most widely known payment processing providers on桂the桂web. But E-commerce payment processing is桂not always the桂first thing that comes to桂consumers�� minds when they think of桂PayPal. What started out as桂a桂peer-to-peer payment facilitator has grown into a桂ubiquitous digital payment processor. Many companies turn to桂PayPal because it�셲 safe, familiar, and桂flexible. It桂is桂also one of桂several free payment processors to桂set up. PayPal charges no桂startup or桂subscription fees, instead taking only a桂small percentage of桂the桂sales it桂processes.

PayPal can be桂set up桂to桂work with mobile wallets like Venmo, Apple Pay, or桂Google Pay. It桂can also be桂connected to桂bank accounts for桂card processing.

The only real drawback of桂PayPal is桂that it桂is桂not great for桂handling high-volume transactions. The company also does not provide 24/7桂phone support. But for桂small businesses with a桂low volume of桂transactions, the桂former is桂not an桂issue at桂all.

Amazon Pay

Best For:
Amazon vendors

Online Payment Fees:
2.9% of桂payment price, plus a桂$0.30桂transaction fee.

About:
The API allows users to桂make payments on桂third-party websites using their Amazon account information. This is桂useful for桂companies that already sell on桂Amazon. It桂is桂also highly secure and桂trusted by桂consumers due to桂the桂name-brand recognition of桂Amazon.

When you use Amazon Pay as桂your online payment processor, your customers simply pay on桂your company website through their Amazon accounts. Amazon takes a桂small commission for桂the桂transaction, at桂an桂affordable rate relative to桂other payment processing companies.

The downside of桂Amazon Pay is桂that it桂is桂severely limited in桂the桂types of桂payments it桂allows. Customers need to桂have an桂Amazon account in桂order to桂make a桂payment through Amazon Pay.

PaymentCloud

Best For:
High-risk/Low-credit businesses

Online Payment Fees:
Quote-based, undisclosed.

About:
젬긔쓩껨농-곶쓩끅곗니 businesses are companies that, for桂one reason or桂another, are viewed as桂having a桂greater risk of桂financial failure than others. Such businesses might have trouble securing a桂partnership with other payment processors. If桂that is桂the桂case, can come to桂the桂rescue. PaymentCloud offers fast approval and桂setup, is桂easily integrated with other platforms, and桂accepts all major credit cards.

Because they work with high-risk businesses, PaymentCloud also assigns a桂dedicated account manager to桂its clients. This can be桂helpful to桂struggling businesses. The designated account manager helps to桂navigate some of桂the桂obstacles of桂being a桂high-risk business.

There are a桂couple of桂drawbacks that come with using PaymentCloud. First, it桂is桂not as桂flexible as桂other payment processing providers. Second, PaymentCloud has no桂listed fees on桂its website. Company fees are instead based on桂a桂quote, which is桂determined on桂a桂case-by-case basis.

Square

Best For:
General commerce, fast setup

Online Payment Fees:
2.9% of桂payment price (or 2.6% with the桂Premium plan), plus a桂$0.30桂transaction fee.

About:
is桂a桂very popular payment processing provider due to桂the桂ease and桂convenience of桂its setup. Square 쓩끅桂껸꾈桂all-in-one payment processor with a桂wide variety of桂hardware and桂software options. This makes it桂ideal for桂companies looking to桂get their physical payment processing infrastructure set up桂quickly and桂without hassle. Square�셲 fees are also some of桂the桂most affordable among all payment processors. This makes it桂better suited for桂higher volume transactions than platforms like PayPal.

Square is桂also compatible with all major credit card providers and桂mobile wallets like Apple Pay and桂Google Pay.

While Square does have an桂online payment processor, it桂is桂not as桂robust as桂other dedicated online payment companies.

Helcim

Best For:
High volume transactions

Online Payment Fees:
Interchange plus 0.5% of桂payment price, plus a桂$0.25桂transaction fee, with volume discounts.

About:
is桂regarded as桂one of桂the桂best all-in-one payment processing companies out there. With no桂monthly fees, easy setup, good customer support, and桂volume discounts, there is桂a桂lot to桂love about Helcim. Small and桂large benefits alike can benefit from Helcim�셲 high volume discounts. But even without those discounts, this is桂still a桂convenient payment processor. The interchange payment plan is桂highly valued and桂appreciated by桂many businesses that use Helcim for桂their payment processing.

Helcim requires no桂dedicated hardware. Businesses simply create an桂account and桂can start accepting Ecommerce transactions right away. A桂card reader is桂available for桂in-store transactions for桂$109.

For Ecommerce, Helcim works with all major credit cards and桂debit cards, as桂well as桂mobile wallets.

Stripe

Best For:
Ecommerce

Online Payment Fees:
2.9% of桂payment price (3.9% for桂international credit cards), plus a桂$0.30桂transaction fee.

About:
is桂widely regarded as桂the桂best and桂most flexible online payment processing provider. Stripe�셲 software is桂extremely easy to桂integrate with just about any桂Ecommerce store. This makes it桂ideal for桂companies that primarily conduct business online. Stripe easily integrates with most other major programs, like QuickBooks or桂Mailchimp.

Stripe also has a桂wide range of桂extensions and桂additional business solutions, making it桂more versatile than other payment processors. For instance, Stripe Billings can automatically manage your company�셲 bills and桂subscriptions each month.

Another reason why Stripe is桂so桂highly regarded is桂its flexibility. Stripe accepts a桂wider variety of桂digital payment methods than most online payment companies. That includes all major credit and桂debit cards, mobile wallets, and桂international payments.

Stripe is桂also highly affordable, allowing for桂custom payment plans. Like others on桂this list, there are no桂subscription or桂startup fees. Setup is桂easy, and桂Stripe offers 24/7桂web-based customer support, with phone support on桂request only.

There are no桂major downsides to桂using Stripe as桂your payment processing provider for桂Ecommerce transactions. This is桂why Stripe is桂supported by桂the桂 Ecommerce platform.

Learn More About Building Your Ecommerce Platform

Choosing the桂right online payment processing company is桂one important step in桂setting your company up桂for桂Ecommerce. But there is桂much more to桂optimizing your business for桂digital commerce than processing payments. 붚죕쳔 is桂here to桂help with that by桂making it桂easier than ever to桂set up桂your web store for桂Ecommerce. We�셱e also here to桂help you understand what�셲 essential. Be桂sure to桂follow our blog for桂more useful articles on桂building and桂operating your Ecommerce platform.

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About The Author

Anastasia Prokofieva is a content writer at 붚죕쳔. She writes about online marketing and promotion to make entrepreneurs�� daily routine easier and more rewarding. She also has a soft spot for cats, chocolate, and making kombucha at home.

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