Best Magento Payment Gateways
- August 23, 2022
- Posted by: Vijay Golani
- Categories: Magento, Magento 2
Don’t waste any more time searching for dependable Magento payment gateways. This article will cover the top payment gateways and how to implement them into your website. In addition, we will also understand how to select the best gateway for your company. This article will help you select the optimal Magento payment gateway, whether you’re just getting started or planning a major redesign for your magento store.
What is a Payment Gateway?
An ecommerce payment gateway is an external service that verifies credit card payments within your ecommerce platform and acts as an intermediary between your online store and a financial institution.
Imagine a POS terminal, like the kind you’d see in a store or a restaurant. A payment gateway, like a cash register, is offered and supported by an external entity for the user’s benefit. It accepts the credit card information of your customers, verifies it, and encrypts it. Consequently, transactions between a client and a merchant, and a merchant and a bank, are protected at every stage.
Thus, an ecommerce payment gateway, acting as an intermediary between a merchant and a bank, protects customers’ personal information and reduces administrative burdens for merchants.
List of Best Magento Payment Gateways
1. PayPal Payment Gateway
People all around the globe use PayPal because it is a safe and reliable way to send and receive money online for any purpose. You’d be hard pressed to find a shop that doesn’t accept it because of how common it is. Yes, it stands to reason.
Paying with PayPal is one of the most hassle-free methods because they offer in-person payment alternatives as well as online invoicing and support for all major credit cards. As one of the most secure payment gateways, Paypal is a great option for online stores using Magento. If you want to integrate a payment gateway, Paypal should be on number one in your list. Every experienced and professional magento development company will also recommend the same.
Further, Magento provides you with a number of choices for integrating the PayPal payment gateway.
2. Brain Tree
Braintree, another PayPal-backed payment gateway, serves merchants of all sizes. It’s a full-featured e-commerce payment gateway that supports over 130 national currencies and is available in 44 different countries. Braintree’s streamlined checkout process is what it’s renowned for, and it’s what keeps customers coming back for more. Because of its ease of use, major companies like Airbnb and LivingSocial have adopted it as their preferred payment gateway.
Similarly, Braintree is a fantastic choice for an online store thanks to a dedicated solution called Braintree Marketplace, which evolves with your company and can be tailored with the help of a competent Magento development company.
Magento also integrates with Stripe, a widely used payment processing service. It’s not only quick, steady, and safe, but it also includes more functions than others do in a sleek user interface. With the release of additional features in the past year, Stripe has also become an excellent choice for organisations seeking to implement an online payment gateway.
You will need to sign up for a Stripe account and then set it up in Magento before you can start using Stripe with the e-commerce platform. If you want to accept payments from customers via Stripe on your website, you’ll need to add some code. The best and most effective way to integrate Stripe in your e-commerce store is to hire Magento developers.
Authorize.net is the preferred payment gateway for over 430,000 small and medium-sized businesses due to its low fees and high level of security. Authorize.net stands out from rivals like PayPal and Stripe because of its user-friendly interface and low transaction fees.
The payment gateway supports a wide variety of payment types, including major credit and debit cards from companies like Visa and Mastercard as well as alternative payment methods like Apple Pay and Google Pay, as well as e-checks. It provides a POS system in the cloud and the ability to open a merchant account.
If you are confused between PayPal and Authorize.net, you must consult a Magento Development Company. This will help you decide and implement the best option for your business.
5. Amazon Pay
The Amazon Payment gateway for your Magento 2 site is every bit as secure, quick, and hassle-free as Amazon itself. Amazon emphasises the swiftness and security of their payment system. Thus, customers only need to click one button to complete their Amazon purchases on your site.
Magento can access the data clients have previously entered into their Amazon accounts. This saves them the trouble of signing up for and using several accounts on different sites, as well as providing their credit card details on each.
In addition, using Amazon Pay, your consumers won’t have to navigate away from your site to complete the purchase. However, there is also Amazon Simple Pay, which takes clients to a secure Amazon website where they may input their payment information.
Steps to Integrate Magneto 2 Payment Gateways on a Website
- You must initially set up the modules. Change settings in the Payment Methods module.
- Afterwards, set up the various means of payment. The explanation may be found in the setup settings for the chosen payment method.
- The next step is to set up a facade for accepting payments. It facilitates the transfer of data between Magento and a payment gateway (a third party hired by the merchant to handle transactions).
- The final stage is to establish and customise payment procedures. Examples of this include granting permission, cancelling it, and other similar measures.
If you wish to know more about the payment gateway integration or want to do it hassle-free, it’s best to hire Magento Developers.
Choosing the best e-commerce payment gateway is critical to the growth of your store. When done intelligently, this may promote brand loyalty, sales, and overall consumer satisfaction. The key to finding the best payment option for your business is to compare the many ecommerce payment gateways. Trying each one of them might not be feasible. Hence, consultation with a Magento Development Company is also a wise decision to take and avail the benefits of the right payment gateway for your store.