Best Payment Gateways of 2023

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A payment gateway is a necessity for online businesses. In order to become a sales powerhouse, you need to minimize fees and offer a simple experience for both you and your customers. Payment gateways play an important role in this process. Identify the right payment processor based on your sales volume, coding skills, and overall payment needs.

Payment Gateway: A Brief Intro

A payment gateway is a software application that merchants use to accept credit cards and other types of electronic payments. Payment gateways are encryption systems that protect sensitive information, such as credit card numbers, as it passes from customer to merchant. These gateways then pass the transaction information to the customer’s bank and to the merchant’s acquiring bank.

In this article, we will discuss the best payment gateway providers. Check out their top features to determine which one fits your business' needs best.

Stripe:

It is an online payment gateway platform that accepts and manages online payments anywhere. It offers complete solutions for processing online payments, including custom UI tools, embeddable checkout, consolidated reports and more.

The Stripe payment gateway ensures a smooth transfer of funds within your business while enabling you to prevent fraud with great security, manage revenue and boost sales globally. Additionally, it provides an open API for integrating with your business ecosystem.

Key Features of Stripe

1. Multi-currency payouts
2. Embeddable checkout
3. Mobile customer interface
4. Authorization
5. Collaboration notes
6. Open-source plugin
7. Accounting integrations

Razorpay:

Razorpay is the only payment solution in India that offers businesses payment acceptance, processing, and disbursement capabilities.

All payment methods are supported, including credit card, debit card, net banking, UPI, and popular wallets like JioMoney, Mobikwik, PayUmoney, Airtel Money, FreeCharge, Ola Money, and PayZapp.

Key Features of Razorpay

1. Fast Settlements
2. Multiple Payment Modes
3. Advanced Analytics
4. Robust Security
5. Customizable Checkout
6. Easy Integration

Instamojo:

Businesses can use Instagramojo to pay for on-demand entertainment services, digital files, and tickets.

As a result, merchants and consumers are able to experience a reliable experience with omnichannel transaction status updates.

Key Features of Instamojo

1. Easy Onboarding process
2. 100+ payment modes
3. Electronic invoice payment
4. Website and application integration
5. Payment analytics

Finix:

Finix provides end-to-end payment solutions that monetize sellers' payments. Finix's platform provides everything you need to create a world-class payments experience, whether your company is just starting out or processes billions of dollars annually.

Finix is a platform that allows businesses to own, manage, and monetize their entire payment flow.

Key Features of Finix

1. Customizable Payment Processing
2. Advanced Reporting and Analytics
3. Developer-Friendly APIs
4. Compliance and Security
5. Revenue Sharing

CCAvenue:

CCAvenue is a popular payment gateway provider in South Asia, including India. Payments are processed quickly and securely through the payment gateway. Over 200 payment options are available through this payment gateway, including 6 credit cards, 58 net banking options, 97 debit cards, and 14 bank EMI options.

For security purposes, the company has developed FRISK (Fraud and Risk Identification System & Knowledge). Safe and secure payment environments are provided by this method.

Key Features of CCAvenue

1. International transaction
2. 200+ payment methods
3. Recurring payments
4. Mobile payments & Website integration
5. Invoice generation
6. Fraud detection system

Chargebee:

The Chargebee subscription billing and payment system is ideal for SaaS and subscription-based businesses. This is a complete cloud-based billing system that is easy to use and innovative at the same time.

In a smart, SaaS dashboard, Baremetrics lets you view all of your revenue by integrating with billing systems, such as Chargebee. Using automatic payment recovery solutions, you can view client segmentation, get more insights into your customers, and predict the future.

Key Features of Chargebee

1. Billing your consumers on a recurring basis
2. Supporting various subscription plans
3. Collecting payments from consumers in an automated manner
4. Obtaining insightful information about your subscription company

Stax:

It is a simple payment processing platform for small businesses that helps them save money and get paid fast. Subscription-based services eliminate the need to work with multiple vendors because they provide all-in-one solutions. As a result, companies can operate more efficiently, move faster, and increase profits.

Founded in 2014, Stax by Fattmerchant is based in Orlando, Florida. Over 20,000 customers have used the business since it was founded to process $23 billion in payments.

Key Features of Stax

1. Key integrations like QBO
2. Same-day for faster access to funds
3. Level-2 processing with lower interchange rates
4. One-click shopping cart for online connectivity and a virtual terminal

Each use case requires a different solution. Choosing a payment gateway should be based on your company's or project's goals and budget.

Hope you liked it. If you have any requirement related to Payment Gateways with your platforms feel free to connect with Revaalo labs your one stop solution for Digital Transformation needs.