Selecting the best payment gateways is pivotal for any thriving eCommerce business. The payment gateway providers you choose must provide your customers and customer’s banks with a seamless payment experience, maintain robust security protocols, and align with your business’s cost structure and growth aspirations. However, with the vast array of options available, determining the best payment gateways for your eCommerce operation in 2024 can take time and effort.

This guide aims to identify the top 10 payment gateways best suited to address the diverse needs of eCommerce businesses in 2024. By evaluating factors such as transaction volume, fees, payment method flexibility, ease of integration, and scalability, this resource will equip you with the insights necessary to select the best payment gateway that will drive the continued success of your online retail venture.

Top 10 Payment Gateways for eCommerce Businesses

1. Stripe 

Stripe is known for its developer-friendly approach. It offers a robust set of APIs and tools that make it highly flexible and easy to integrate with a wide range of eCommerce platforms and software applications. Here are the key points about Stripe as a top payment gateway provider for eCommerce in 2024:

Developer-Friendly

• Stripe is renowned for its developer-centric approach, offering extensive documentation, robust APIs, and SDKs that make integrating the payment solution seamless.
• This makes Stripe an attractive option for businesses with in-house technical teams or those looking to deeply customize their payment experience.

Scalability

• Stripe is highly scalable and able to handle the payment processing needs of businesses from startups to large enterprises.
• Its infrastructure can accommodate high-volume transactions and rapid business growth without compromising performance or reliability.

Competitive Pricing

• Stripe’s transaction fees start at 2.9% + $0.30, which is in line with industry standards and provides a cost-effective solution for eCommerce businesses.
• There are no monthly fees or hidden costs, allowing for predictable and transparent pricing.

Broad Payment Method Support

• In addition to credit and debit card payments, Stripe supports a wide range of alternative payment methods, including digital wallets, buy now, pay later options, and local payment methods for international customers.
• This flexibility helps businesses cater to the diverse payment preferences of their customer base.

Fraud Management

• Stripe offers advanced fraud detection and management tools to help businesses mitigate the risk of chargebacks and fraudulent activities.
• Its machine learning-based systems analyze transactions in real time to identify and block suspicious activity.

Global Reach

• Stripe’s international capabilities allow eCommerce businesses to accept payments from customers in over 40 countries, supporting multiple currencies and local payment methods.
• This makes Stripe a suitable choice for businesses with a global customer base or expansion plans.

2. PayPal

PayPal is a highly trusted and widely recognized digital payment platform that continues to be a popular choice when selecting a payment gateway for eCommerce businesses. Some of the key advantages of using PayPal include:

Broad Customer Reach

• As one of the most widely adopted digital wallets, PayPal gives businesses access to a large existing customer base that is familiar and comfortable using the platform for online transactions.

Flexible Payment Options

• In addition to the core PayPal checkout, PayPal supports a variety of other payment methods such as major credit cards/debit cards, bank account transfers, and digital wallets like Venmo.

Competitive Pricing

• PayPal’s transaction fees per merchant account are generally competitive at 2.9% + $0.30 per transaction, making it accessible for businesses of all sizes.

Easy Integration

• Integrating PayPal’s payment and gateway for your business is relatively straightforward, with well-documented APIs and plugins available for major eCommerce platforms.

Fraud Protection

• PayPal offers robust fraud detection and buyer/seller protection mechanisms, helping to mitigate risks for both the business and its customers.

Global Capabilities

• With its presence in over 200 markets worldwide, PayPal allows eCommerce businesses to reach international customers and accept mobile payments made in multiple currencies.

Further reading: 10 Best PayPal Plugin For WooCommerce (Updated)

3. Braintree 

Braintree, a PayPal company, is another top-tier third payment processor and gateway option for eCommerce businesses in 2024. Here are the key points about Braintree:

Robust Feature Set

• Braintree offers a comprehensive suite of payment processing features, including advanced fraud detection, recurring billing, and support for a wide range of payment methods.
• This makes Braintree well-suited for businesses with complex or specialized payment requirements.

Seamless PayPal Integration

• As a PayPal subsidiary, Braintree provides seamless integration with the PayPal ecosystem, allowing businesses to leverage the large customer base and trusted brand recognition of PayPal.
• This can be particularly beneficial for businesses looking to offer PayPal as a payment option alongside other methods.

Competitive Pricing

• Braintree’s pricing structure is in line with industry standards, with transaction fees starting at 2.9% + $0.30.
• The pricing model is transparent, with no hidden fees or surprise charges, making it easy for businesses to budget their payment processing costs.

Global Capabilities

• Braintree supports cross-border payments and can handle transactions in multiple currencies, making it a suitable choice for eCommerce businesses with an international customer base.
• This global reach can be advantageous for businesses looking to expand their operations beyond their domestic market.

Enterprise-Grade Security

• Braintree places a strong emphasis on security, with features like PCI compliance, tokenization, and advanced fraud prevention tools.
• This can provide peace of mind for businesses, particularly those handling sensitive customer payment data.

Customization and Flexibility

• While Braintree may have a slightly higher learning curve compared to some other payment gateways, it offers a high degree of customization and flexibility to tailor the solution to the unique needs of a business.
• This can be beneficial for enterprises or businesses with complex payment processing requirements.

4. Authorize.Net 

Authorize.Net is a leading payment and electronic payments gateway that enables businesses to accept both credit card payments and electronic check (eCheck) payments online, in person, and through mobile devices. Key points about Authorize.Net:

Payment Processing Services

• Offers online payment processing solutions for eCommerce businesses
• Supports in-person payments through a virtual point-of-sale system
• Provides mobile payment acceptance via compatible card readers
• Allows phone-based manual order entry and processing

Further reading: Social Commerce vs eCommerce: Choosing the Right Model for Your Business

Payment Methods Supported

• Credit/debit cards
• Electronic checks (eChecks)
• Contactless payments

Recurring Billing and Subscription Management

• Provides tools for setting up and managing recurring billing and subscription-based models

Developer-Friendly

• Offers an extensive set of APIs and developer resources to enable customized payment integrations

Security and Compliance

• Emphasizes security features like PCI compliance, tokenization, and fraud prevention
• Provides 24/7 customer support

Partner Program

• Has a partner program to help businesses integrate Authorize.Net or resell its services

5. Square

Square is a fintech company that provides a comprehensive suite of payment processing and business management tools for small and medium-sized businesses. Key points about Square:

Payment Processing

• Offers a mobile-based point-of-sale (POS) system that allows businesses to accept credit/debit card payments, contactless payments, and mobile wallets using a Square card reader.
• Provides an online payment gateway for eCommerce and invoice payments.

Point-of-Sale (POS) Solutions

• Offers a range of POS hardware, including countertop terminals, mobile card readers, and tablets, that integrate with its software.
• Provides POS software with features like inventory management, customer engagement tools, and staff management.

Business Management Tools

• Offers tools for invoicing, payroll, employee management, and other back-office functions.
• Provides data and analytics to help businesses understand their sales, customer trends, and operational performance.

Financing Options

• Provides small business financing through Square Capital, offering merchant cash advances and loans.

Developer Platform

• Offers a range of APIs and developer tools to enable custom integrations and solutions.

Pricing and Fee

• Charges a flat percentage-based transaction fee for payment processing, with no monthly fees or long-term contracts.

6. Adyen

Adyen is a global digital payments platform that enables businesses to accept a wide range of payment methods and process secure transactions and payments across online, mobile, and in-person channels. Key points about Adyen:

Omnichannel Payments

• Provides a unified payment platform that supports payments across eCommerce, mobile, and point-of-sale (POS) channels.
• Allows businesses to accept a diverse range of local and international payment methods, including credit/debit cards, digital wallets, and alternative payment methods.

Payment Processing Capabilities

• Handles the full payment processing flow, from payment acceptance to settlement and reconciliation.
• Offers features like fraud prevention, chargeback management, and data-driven insights to optimize payments.

Global Reach

• Operates in over 200 countries and territories, enabling businesses to expand globally.
• Supports over 100 payment methods and 150 currencies, catering to local preferences worldwide.

Enterprise-Level Solutions

• Targets large, multinational enterprises with complex payment needs.
• Provides customizable, API-driven solutions and a highly scalable payments infrastructure.

Developer-Friendly

• Offers a robust set of APIs and developer tools to enable seamless integration into various business systems and workflows.

Pricing and Fees

• Charges variable, transaction-based fees, with pricing structures tailored to the specific needs of each business.

7. Stax

Stax is a secure payment gateway, credit card processing, and business management platform designed for small to medium-sized businesses. Some key points about Stax:

Integrated Suite of Features

• Stax offers an all-in-one solution that combines payment acceptance, invoicing, inventory management, and customer relationship management.
• The platform aims to provide businesses with a comprehensive solution to manage their finances and operations through a single platform.

Payment Acceptance

• Stax enables businesses to accept payments through various channels, including in-person, online, and mobile.
• It supports a range of payment methods, such as credit/debit cards, mobile wallets, and other digital payment options.

Business Management Tools

• In addition to payment processing, Stax provides tools for invoicing, inventory management, and customer relationship management.
• These features help businesses streamline their workflows and gain better visibility into their operations.

Target Market

• Stax is primarily focused on serving small to medium-sized businesses, providing them with an integrated platform to manage their payments and other business functions.

Competitive Pricing

• Stax aims to offer competitive and transparent pricing structures to its customers, potentially differentiating itself from traditional payment processors.

Customer Support

• The platform likely emphasizes providing reliable and responsive customer support to meet the needs of its small and medium-sized business clients.

8. Helcim

Helcim is a payment processing and merchant services provider that caters to the payment card industry and businesses of all sizes, from small enterprises to large corporations. Some key points about Helcim:

Payment Gateway and Processing

• Helcim offers a comprehensive payment gateway solution that allows businesses to accept a wide range of payment methods, including major credit and debit cards, digital wallets (e.g., Apple Pay, Google Pay), and alternative payment options.
• The platform handles secure online and in-person transactions, providing advanced security measures to protect against fraudulent activities.
• Helcim’s payment processing capabilities enable businesses to seamlessly integrate payment acceptance into their eCommerce platforms, physical point-of-sale systems, and other business operations.

Transparent and Competitive Pricing

• Helcim is known for its transparent and competitive pricing structures, which include fixed transaction fees and no hidden charges or monthly fees.
• The platform aims to provide businesses with cost-effective payment processing solutions, allowing them to focus on their core operations without being burdened by excessive fees.

International Payments

• Helcim supports cross-border payments, enabling businesses to accept payments in multiple currencies and expand their reach to international customers.
• This makes it an attractive option for businesses with a global customer base or those looking to explore new international markets.

Merchant Services and Business Support

• In addition to payment processing, Helcim offers a range of merchant services, including virtual terminal capabilities, invoicing, and accounting software integrations.
• The platform also provides dedicated customer support and resources to help businesses optimize their payment operations, enhance customer satisfaction, and improve overall operational efficiency.

Compliance and Security

• Helcim ensures PCI compliance and implements advanced security measures to protect sensitive payment data and transactions, giving businesses and their customers peace of mind.

9. Payment Depot

Payment Depot is a payment processing service that primarily has online stores and targets small and medium-sized businesses. Some key points about Payment Depot:

Membership-based Pricing Model

• Instead of the typical percentage-based transaction fees, Payment Depot offers a membership-based pricing model.
• Businesses pay a monthly subscription fee to access Payment Depot’s payment processing services.

Wholesale Rates

• The core value proposition of Payment Depot is that it aims to pass on the wholesale rates it receives from the card networks directly to its business customers.
• This means businesses can potentially benefit from lower overall payment processing costs compared to traditional merchant service providers.

Cost-effective Solution

• By providing a membership-based pricing structure and passing on wholesale rates, Payment Depot positions itself as a cost-effective payment processing solution for small and medium-sized enterprises.
• This can be particularly attractive for businesses looking to minimize their payment processing expenses and optimize their overall financial operations.

Target Market

• Payment Depot is primarily focused on serving small and medium-sized businesses, catering to their specific needs and requirements for payment processing services.

Payment Processing Capabilities

• While the pricing model is the main differentiator, Payment Depot likely offers a range of standard payment processing capabilities, including support for various payment methods, online and in-person transactions, and integration with eCommerce platforms and other business systems.

Customer Support

• As a payment processing service provider, Payment Depot likely emphasizes providing reliable and responsive customer support to its small and medium-sized business clients.

10. 2Checkout (now Verifone)

2Checkout (now Verifone) is a prominent payment processing, interchange fees, gateway and merchant services provider that has expanded its capabilities and global reach following its acquisition by the payment technology giant, Verifone.

Payment Gateway and Merchant Services Provider

• 2Checkout (now Verifone) is a payment gateway and merchant services provider that offers a suite of solutions for businesses to accept and manage online payments.

Acquisition by Verifone

• In 2020, 2Checkout was acquired by the global payment and commerce solutions company, Verifone.
• This acquisition has resulted in 2Checkout being integrated into and operating as part of the Verifone brand and product portfolio.

Expanded Capabilities and Reach

• With the backing of Verifone, 2Checkout has likely gained access to a broader range of payment processing and merchant services capabilities, as well as Verifone’s extensive global reach and resources.
• This acquisition has enabled 2Checkout to enhance its offerings and better serve its existing and new customers.

Online Payment Processing

• 2Checkout’s core focus has been on providing online payment processing solutions for businesses of all sizes, from small eCommerce enterprises to large multinational organizations.
• This includes features such as:
  • Secure payment gateways
  • Fraud detection and prevention
  • Support for a wide range of payment methods (credit/debit cards, digital wallets, alternative payment options)
  • Recurring billing and subscription management

Global Reach and Multi-Currency Support

• As part of Verifone, 2Checkout can now leverage the company’s global presence and infrastructure to offer cross-border payment processing and support for multiple currencies.
• This is particularly beneficial for businesses looking to expand their operations and accept payments from international customers.

Integrated Solutions and Partnerships

• 2Checkout likely offers integrations with various eCommerce platforms, shopping carts, and other business applications to provide a seamless payment processing experience for its customers.
• The company may also have strategic partnerships with other payment industry players to further enhance its product and service offerings.

Conclusion

Finding the right payment gateway is critical to ensure a positive customer experience, optimize your conversion rates, and protect your financial transactions. This guide has provided valuable insights into the top payment gateways for 2024. Make your decision on choosing a payment gateway, based on the unique needs and size of your ecommerce business.