If you’re seeking to expand your business in the USA or any other developed country, you must choose a secure payment gateway for your customers. Highly evolved consumer demographics now demand multiple payment options and a seamless checkout experience when making purchases from your store. This level of convenience is only achievable through reliable payment solutions. Keep reading to discover which type of payment gateway will best serve your needs, leading to maximum customer satisfaction and growth potential for your company.
In this article, we’ve compiled a list of the top 10 payment gateways in the USA for you to consider. To assist in your decision-making process, we’ve provided some essential factors to keep in mind when evaluating payment gateways. Let’s delve into the details.
Current Payment Landscape in the USA
With over 70% of Americans shopping online, the USA’s eCommerce market is the second-largest globally in terms of revenue, trailing only behind China. In 2022, there were 268 million digital shoppers in the USA, and this number is expected to reach 285 million by 2025, underscoring the prevalence of online shopping in the country.
What’s more, Americans are actively embracing alternative and online payment methods such as “Buy Now, Pay Later” (BNPL) services, digital wallets, credit/debit cards, and more. This shift is driven by the seamless user experiences these methods and apps offer.
For businesses looking to expand their customer base in the USA, it’s imperative to support all these online payment methods. This level of support is only feasible if you select the right payment gateway. Let’s explore how to do that.
Key Considerations When Evaluating Payment Gateways in the USA
Security
Security is a paramount consideration when selecting a payment gateway. Compromising on security risks the exposure of your and your customers’ data and finances, which can severely damage your business’s reputation. Thus, it’s essential to opt for a PCI-certified payment gateway that adheres to the latest security protocols. Additionally, an ideal payment gateway should offer robust fraud prevention tools to detect and block fraudulent transactions.
Supported Payment Methods
Customers are more likely to complete a purchase if they see their preferred payment methods available. Offering a variety of payment options can not only increase your chances of making a sale but also encourage repeat business. Therefore, it’s advisable to research the market to identify the payment methods preferred by your target customers and select a payment gateway that supports those methods.
Supported Currencies
Choosing a payment gateway that supports multiple currencies is crucial for international expansion. It ensures your readiness to serve global audiences and capitalize on opportunities in diverse geographical regions. Keep in mind that some payment gateways may impose additional charges for currency support, as well as conversion fees. Factor this into your decision-making process.
Integration with eCommerce Platforms
The efficiency of your eCommerce business can be significantly affected if your chosen payment gateway doesn’t seamlessly integrate with your eCommerce platform, such as Shopify, Magento, or WooCommerce. To minimize the time and effort spent on manual connections and technical adjustments, research and select a payment gateway that aligns with your workflow.
Pricing and Fees
Different payment gateways employ various pricing structures, including annual packages, volume-based transaction fees, or charges for successful transactions. Furthermore, they may levy different types of fees, such as transaction fees, interchange fees, conversion fees, refund or chargeback fees, and more. When evaluating payment gateways, consider all these fees to determine the overall affordability of the gateway.
Reliability
The reliability of a payment gateway is paramount. It encompasses factors like uptime, authorization rate, dedicated customer support, customer reviews, and ease of use. A consistent and positive customer experience can only be guaranteed if your chosen payment gateway is reliable.
Top 10 Payment Gateways in the USA
Authorize.net
- Ideal for small businesses.
- Supports online and offline payments, including card payments.
- Pricing and fees: Annual fee: None, Setup fee: None, Monthly fee: $25, Charges on Refunds: Information available on request, Transaction commission: 2.9% + 30¢.
- Accepted Payment Methods: Credit/Debit Cards (MasterCard, Visa, American Express, Discover, etc.), Alternative payment methods like Apple Pay and PayPal.
- Supported Currencies: All major currencies.
- eCommerce Platform Integration: Compatible with Magento, WooCommerce, BigCommerce, and more.
BlueSnap
- A comprehensive global payments platform.
- Accepts payments from various sources worldwide.
- Pricing and fees: Annual fee: Free, Setup fee: None, Monthly fee: None, Charges on Refunds: Information available on request, Transaction commission: 1.4% + €0.25.
- Accepted Payment Methods: Credit/Debit Cards, Alternative methods like Apple Pay, PayPal, Google Pay, and more.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Compatible with Magento, WooCommerce, BigCommerce, and more.
Stripe
- A trusted global payment platform.
- Allows customization of the checkout experience and offers various payment options.
- Pricing and fees: Setup fee: None, Annual fee: None, Monthly fee: None, Charges on Refunds: Information available on request, Transaction commission: 2.9% + 30¢.
- Accepted Payment Methods: Credit/Debit Cards and alternative methods.
- Supported Currencies: Supports 135+ currencies.
- eCommerce Platform Integration: Compatible with NetSuite, Shopify, WooCommerce, and more.
Payflow Payment Gateway (PayPal)
- Part of PayPal’s services.
- Accepts payments through various methods.
- Pricing and fees: Setup fee: None, Monthly fee: $0 – $25, Charges on Refunds: Information available on request, Transaction commission: $0.10 per transaction.
- Accepted Payment Methods: Credit/Debit Cards, alternative payment methods.
- Supported Currencies: Supports 135+ currencies.
- eCommerce Platform Integration: Offers integration with major eCommerce and CRM platforms.
Adyen
- Allows both online and in-person payments.
- Supports various payment methods and protects against fraud.
- Pricing and fees: Setup fee: None, Annual fee: Free, Monthly fee: None, Charges on Refunds: Depends on the payment method, Transaction commission: €0.10 per transaction + payment method fee.
- Accepted Payment Methods: Credit/Debit Cards, other methods like Alipay, Amazon Pay, Google Pay, and PayPal.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Compatible with Microsoft 365, BigCommerce, Vue Storefront, WooCommerce, and more.
Square
- Suitable for businesses of all sizes.
- Accepts remote, online, phone, and in-person payments.
- Pricing and fees: Setup fee: None, Annual fee: None, Monthly fee: $0-$79, Charges on Refunds: Depends on the payment method, Transaction commission varies.
- Accepted Payment Methods: Credit/Debit Cards, ACH, and others.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Compatible with Magento, Mailchimp, GoDaddy, WooCommerce, and more.
Braintree
- A service from PayPal that simplifies payment acceptance.
- Accepts payments via popular methods.
- Pricing and fees: Setup fee: Free, Monthly fee: None, Charges on Refunds: Information available on request, Transaction commission: 1.9% + €0.30.
- Accepted Payment Methods: Credit/Debit Cards and numerous alternative payment methods.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Compatible with 3dcart, Primer, BigCommerce, and more.
Helcim
- A complete payments platform that enables various payment methods.
- Supports online, phone, and in-person payments.
- Pricing and fees: Charges on Refunds: $0 if the dispute is in your favor or $15, Setup fee: None, Monthly or annual fee: None, Transaction commission: Varies.
- Accepted Payment Methods: Credit/Debit Cards and ACH payments.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Compatible with QuickBooks, Magento, WooCommerce, and more.
Payline
- Suitable for small and large eCommerce businesses.
- Accepts online and in-person payments.
- Pricing and fees: Charges on Refunds: $0 if the dispute is in your favor or $15, Setup fee: None, Monthly fee: $10-$20, Transaction commission varies.
- Accepted Payment Methods: Credit/Debit Cards and ACH payments.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Offers integration with major platforms.
Klarna
- A fintech company renowned for simplifying payments.
- Offers a wide range of payment methods.
- Pricing and fees: Charges on Refunds: Information available on request, Setup fee: None, Monthly Fee: None, Transaction commission: Information available on request (all fees highlighted during merchant onboarding).
- Accepted Payment Methods: Credit/Debit Cards and various alternative payment methods.
- Supported Currencies: Supports all major currencies.
- eCommerce Platform Integration: Compatible with Adobe, Shift4Shop, WooCommerce, Shopify, and more.
Local Payment Gateways and Their Complexities
While local payment gateways can be attractive due to lower transaction fees and market familiarity, they often lack support for multiple currencies and global payment methods. This limitation can hinder your ability to expand your business internationally. Furthermore, local payment gateways can lead to significant downtime, affecting transactions and customer experience.
The Solution: Integrating Multiple Payment Gateways with Web Technology Expert
Web Technology Expert is a global payment aggregation platform that facilitates the integration of over 30 payment gateways and offers access to more than 300 payment methods. You can easily start with a few gateways and methods and scale up as your business grows. This approach allows you to save money and scale your operations more smoothly.
Ensure your business experiences minimal downtime. With Web Technology Expert’s multi-gateway payments, you can efficiently route transactions through alternate payment gateways in case of failures or increased transaction fees, giving you greater control over the success and efficiency of your operations.