How To Choose The Right Payment Gateway For Your Online Shopify Store

Payments are essential to every business, as it is one of the ultimate goals of making the sale. Setting smooth and trusted payment gateways, especially if you run an online store is essential, for both you as well as your customers. It is also important to give your customer the best shopping experience that is as user-friendly as possible.

Below mentions the most popular payment gateways for Shopify customers based globally:

Shopify Payments

The process of using this payment gateway is quite simple since it comes with Shopify and can be activated directly through the platform. Shop Pay doesn’t charge any processing fee for purchases made on the Shopify Platform. If as a merchant you opt for Shopify Payments, then you also have the option of lowering the credit card rates by upgrading your subscription plan.

This option is available to various countries such as US, Canada, Ireland, Singapore, UK, New Zealand, and Australia.

Stripe

Stripe has been audited by a PCI-certified auditor and is certified to PCI Service Provider Level 1. This is the most stringent level of certification available in the payments industry. To accomplish this, Stripe uses the best-in-class security tools and practices to maintain a high level of security at Stripe.

Stripe is one of the most popular Shopify Payment Gateway platforms, especially in the US. It comes with various tools that can be adjusted and customized according to your payment processes and allows merchants to accept credit card payments, wallets as well as other international currencies.

With an integration available for up to 300 tools and an acceptance of over 100 currencies, Stripe caters more to the need of large businesses due to its extensive features.

Stripe is available in the United States, most of Europe, Canada, Australia, and 46+ others, used by thousands of companies, including Lyft, Amazon, Slack, Glossier, Shopify, and Airbnb.

PayPal

As of Q4 2021, there are 426 million active users on PayPal worldwide. Stats on PayPal users show that the figure has grown by over 120 million since Q4 2019. The popularity of PayPal continues to grow at a rapid rate and is projected to top 500 million before the end of 2023.

PayPal is available to consumers and merchants in 200 countries and regions from Africa, the Americas, Asia Pacific, and Europe. Furthermore, it handles payments in 25 currencies.

PayPal ranks #1 among the top 10 payment gateways around the world.

Skrill

Skrill is one of the most well-known payment gateways around the world. Skrill understands modern payment demands when it comes to payment processing and money transferring. Skrill started in the year 2001. Now, Skrill has many top companies as their customers using their innovative solutions in their businesses.

Skrill is recognized and awarded by many top companies such as Deloitte Technology Fast 50 Award, B2B EGP Award, and several others. It is one of the successful UK-based payment gateways that supports over 40 different currencies.

Since its launch, Skrill has expanded to operate in more than 120 countries.

Authorize.net

Looking for a Shopify Payment Gateway that suits all kinds of business be it small or large, and comes with multiple plans? Then Authroize.Net is the perfect option for you. It allows your e-commerce store to accept e-check payments and credit card payments which include MasterCard, Discover, JCB, Visa, Diner’s Club, and American Express to name a few. This is possible due to its payment management and payment processing services which help the owner to activate a seamless, secure, and affordable checkout procedure.

Authorize.net can accept transactions from merchants located in the United States, Australia, and Canada.

Apple Pay

Apple Pay provides an easy and secure way to make payments in your iOS, iPadOS, watchOS apps, and on websites in Safari. And now, Apple Pay can also be used in Messages for Business and in iMessage extensions. By using Face ID, Touch ID, or double-clicking Apple Watch, users can quickly and securely provide their payment, shipping, and contact information to check out. Customers love the simplicity of Apple Pay, and you’ll love the increased conversion rates and new user adoption that come with it.

Apple Pay is available in all major countries.

Google Pay

In 2018, Google revamped and rebranded its mobile and online payments services, putting them all under the Google Pay or G Pay umbrella. It is, in essence, the company's own alternative to Apple Pay. It is - in essence - a mobile wallet.

You can use it for online payments, in-app purchases, contactless payments in stores, and even for peer-to-peer money sending. So whether you're browsing for a new pair of sneakers online or buying your morning coffee, G Pay can do all the payment-related heavy lifting for you.

Google Pay is supported in almost all countries.

World Pay

WorldPay is one the most user-friendly platform, popular for its effective security and reliability features for any type and size of business. This is the 2nd biggest platform under Shopify Payment Gateway after PayPal and accepts transactions done online, through telephone and card machines.

Worldpay is currently supported for companies based in the USA, the United Kingdom, Hong Kong, Israel, and Singapore. Worldpay supports almost all major credit and debit cards such as Visa, MasterCard, and American Express.

2Checkout

2Checkout has been acquired by Verifone, a leading global provider of payment and commerce solutions. Both 2Checkout and Verifone share a vision to simplify modern commerce and enable frictionless experiences that enable companies to optimize their business performance.

2Checkout is supported in all countries except North Korea, Cuba, Iran, Sudan, Syria, Myanmar (Burma)

BlueSnap

BlueSnap is the global payment gateway designed to help businesses to accept payments seamlessly. This gateway enables businesses to scale globally and accept payments from local to international customers. This platform is highly secure, built with fraud prevention systems to minimize risks.

Bluesnap has a network of over 30+ acquiring banks, this ensures customer trust, increases conversion rate, and improves revenues.

BlueSnap operates in 180 countries and connects automatically with acquiring banks globally. It supports 110 different payment types, 100 currencies, and 29 different languages.

Cards accepted: All major credit and debit cards are accepted such as Visa, MasterCard, American Express, Discover, Diner’s Club, JCB.

UPI Payments (Indian Merchants)

UPI is called the Unified Payments Interface and this is an instant payment system that has been developed by the National Payments Corporation of India. This enables inter-bank transactions and the interface has been regulated by the Reserve Bank of India. It works immediately when transferring funds between two Indian bank accounts.

Examples of a few UPI payments Apps: Paytm, PhonePe, BHIM App, MobiKwik.

After having decided which Payment Gateways are best for your Shopify Store, it's also important to check out the transaction fees your customers are charged for purchases. It’s very likely that they’re not the same amounts.

Try and keep all major options for the customer to greet him/her with any payment mode they are comfortable with. Keep some payment modes local and the remaining international so the customer has easy access to payments.

This is after all the final leg of the journey and the reason you're selling your products in the first place. Having mentioned which countries are supported by each payment gateway, choosing the ones that match your requirements should be easier.

For further queries and details, feel free to speak with us. Our team of experts is always there to help and guide you through your Shopify setup process.

As Shopify Plus partner, eCommerce Developers and Consultants, we have helped more than 1500+ International Brands including Fortune 500 Companies to set up and scale up their online businesses.