Read up on some of the best payment gateways available now.
1. Klarna
Klarna is an online checkout and mobile payments solution that aims to simplify buying for consumers and retailers.
Founded in 2005 in Sweden, the e-commerce company provides payment services for online stores. The checkout solution achieves a conversion rate of 60-70 percent compared to the industry standard of three percent. The platform processes around 250,000 transactions a day and is used by ASOS, M&S and Spotify.
2. PayPal
No list of payment gateways would be complete without PayPal. One of the oldest players in the e-commerce market, the American company has kept up an indelible trajectory of growth since it was established in 1998. It was bought by eBay in 2002, but will be spun off as an independent company this year. The company recently announced it was making a move into the mobile payments field with its acquisition of Paydiant.
3. GoCardless
GoCardless claim to be bringing Direct Debit into the 21st century. The lower fees and failure rates of Direct Debit are combined with a simplified platform that is built for online use. The platform applies a one percent fee that is capped at a maximum £2. GoCardless only does Direct Debit payments, but it does do them well.
4. SagePay
SagePay is part of the Sage group, the international software company. The flexibility of this solution should appeal to many, as the platform allows you to accept all payment types. Sage Pay offers a range of pricing options, starting at £19.90 per month. The software also includes free advanced fraud screening tools, with the possibility to upgrade if your security needs are higher. This solution can be easily linked with other Sage software products such as Sage 50 Accounts.
5. Checkout by Amazon
Like PayPal, Amazon have been in the eCommerce game since the late 90s, so it has some expertise in the online payments area. It also provides its services to other companies, allowing them to embed an Amazon checkout button on their website and allow customers to pay through their Amazon account. For accounts processing under £1,500, you will pay 3.4 percent + 20p per transaction, which falls to 1.4 percent + 20p for £55,000 and up.
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6. Stripe
Stripe provides a robust API that developers can integrate into their projects. The solution dispenses with complicated scaling setups by charging a simple flat rate of 2.4% + 20p per transaction. Stripe started out in the US and has now moved to the UK. It also allows customers to pay in Bitcoin, which will appeal to many forward-thinking retailers.
