When you offer goods or services online, you’ll need a way to get paid – this is where online payment solutions come in. Over the years, online payments have become a whole lot more straightforward, and there are plenty of online business payment solutions out there.
How do you know which one to go with, however? It can be difficult to decide on a solution, but if you’re unsure, just keep reading to find out more about the 5 best ecommerce payment solutions for your business.
When it comes to online payment solutions, PayPal has long been a key player. One of the first payment solutions to really dominate the space, there are over 400 million active user accounts as of 2021, and it’s available in over 200 countries across the world.
Not only that, but users can withdraw their funds in over 50 different currencies, and your account can be connected to more than one card. It’s free and safe for users, and they can link their PayPal account to their bank account to buy goods and services online even when their PayPal is at zero.
Stripe is another big name, giving both individuals and companies the opportunity to receive payments in a safe and easy manner. It’s similar to PayPal in many ways but is more customisable, so you can better tailor the platform to suit your needs. For this reason, it’s undoubtedly one of the best ecommerce payment solutions available.
Various features offered on Stripe include Stripe Radar, a fraud-management tool, cards for employee expenses, and SQL-based business intelligence – it’s all part of their API. Moreover, it integrates with the vast majority of ecommerce platforms, like Squarespace, Shopify and BigCommerce.
A digital wallet, Apple Pay is becoming increasingly popular with online shoppers who use their iPhones to buy goods and services – it’s one of the best mobile payment solutions. It makes sense if your target market tends to use Apple products, as they can use Apple Pay to buy almost effortlessly when using their device.
It’s straightforward to add to your business, and it’s quick, easy, and safe for customers to use on their device. Of course, it only works with Apple devices, but you could use it alongside Google Pay, the equivalent for Android devices to cover a wider section of your target market.
Another of the best mobile payment solutions, this digital wallet is free not only for customers to use but for businesses too. The Google Pay API gives merchants the opportunity to get paid in no longer than a week, and it takes just a few days to sort everything.
Like with Apple Pay, customers can pay straight from their browser, and they can keep everything from credit and debit cards to gift and loyalty cards in their wallet. Hundreds of millions of cards are in use on Google Pay, so there are an awful lot of potential customers.
Amazon Pay makes use of the saved methods of payment in a customer’s Amazon account, so that they’re able to check out online fast – without the need for more information being required. If you’re hoping to boost conversions and improve customer loyalty, Amazon Pay is one of the most useful (and widely used) online business payment solutions to go for.
It’s easy to add Amazon Pay to your company site too, simply use the Amazon Payments SDK. If you’re already using one of Amazon’s premier partners in selling online – like Shopify, Zuora, BigCommerce or Magento – you can get Amazon Pay set up in almost no time at all.
We can help
GoCardless helps you automate payment collection, cutting down on the amount of admin your team needs to deal with when chasing invoices. Find out how GoCardless can help you with ad hoc payments or recurring payments.