eCommerce Payment Gateways

Online Payment Gateway resources and references

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Major Global Payments Gateway Service Providers

What is a Payment Gateway?

A payment gateway is an e-commerce application service provider service that authorizes payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. Payment gateways provide the tools to process payments between customers, businesses, and banks.

Major Global Payments Gateway Service Providers

In today’s tech savvy global market, business establishments have been constructed with an online foundation giving buyers an opportunity to view and purchase goods and services. This is done through the sellers’ websites but processing of the transactions is carried out by independent companies contracted by the seller. An online payment gateway is a web-based application that allows a website to authorize credit card transactions. The shopping cart does it in a real time environment that is secure. The online payment gateway is thus responsible for connecting the shopping cart to the payment processor.

Typically, the payment gateway, as the name suggests, will link your online shop to your merchant account. E-commerce today could never be achieved without these gateways. Intertwined together, online shopping has become a very common method of buying and selling goods globally. The world today boasts of various payments gateway service providers. Among the many gateways, there are a cloud of the most renowned payment gateway service providers.

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Major payment gateway service providers

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1. Paypal

PayPal is an acquirer, performing payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. It may also charge a fee for receiving money, proportional to the amount received. The fees depend on the currency used, the payment option used, the country of the sender, the country of the recipient, the amount sent and the recipient's account type.

Among the major service providers, PayPal has established an international mark in payments gateway work. This is due to their unmatched safe and easy transactions which covers a wider e-commerce market. It offers services to over 24 currencies acclaiming over 153 million accounts worldwide.

website: https://www.paypal.com


Services Provided:

Get to pay services:
PayPal has become most customers’ favorite. If you feel online shopping is your best option, then having a PayPal account will be imminent. Currently, some of the get-to-pay services offered include:
Money Sending: This is where a customer who purchases an item from an online shop can send money through PayPal to the shop’s account.
Currency Transfer: Using PayPal, one can also make preferable currency transfers. This is where a customer who has purchased online can pay according to the prevailing exchange rates. Being linked with over 24 world currencies, PayPal enables customers to exchange currencies.


Get paid services:
PayPal not only enables you to pay for the online purchased goods, but also allows its users to get paid for remote services offered. Take for instance telecommuting. Ecommerce today depends highly on remote payments. If you work from your house, you need a PayPal account, for example, to allow you get paid by your clients. Various get-paid services are offered by PayPal. They include:
Multi-currency payments: From wherever your customers may be, PayPal will enable them to pay to your account. It has most up to date currency exchange rates which incorporate various currencies. This eases the hustle of looking for various international exchange rates.
Express checkout service: This is where an online shop may have a PayPal link to enable its online customers to pay remotely to your account. This consequently increases your sales per unit time and thus more profits. The market widens to beyond boundaries since people can buy and pay you remotely.


Email Payments:

Through PayPal, email payments are possible. You can invoice your debtors through email and thus hastens the payment process.


Report Processing:

This is where a customer gets a detailed account report on how he or she has been transacting with PayPal. It encourages budgeting of funds on PayPal.

Click to view details of each major payment gateway service provider:

Other common payment gateway service providers
Apart from the above mentioned payment gateway service providers, there are other companies worth noting. Among these are: Amazon, Money Bookers, Clickbankbuy, Payza, Payoneer, HSBC, Paypoint.net and PayXpert among others.