Types of payment gateways
Payment gateways come in five different categories.
- Local bank integration gateways: These gateways direct customers to the retailer’s website, where they may enter and exchange all of their payment and contact information. The customer will return to the merchant’s website after the payment has been processed and receive a notification of the successful transaction. This is a simple solution with few features, and it frequently does not support reimbursements or regular payments. As a result, even if it can be quickly developed and implemented, it is inappropriate for enterprises that intend to grow and most definitely inappropriate for large-scale buyers.
- Hosted payment gateways: A hosted payment gateway directs the customer away from your checkout page to complete their transaction. When a customer is prepared to complete their transaction, they can click on a “buy now” link to be directed to the host or payment service provider’s website. After providing their payment information, the customer is directed back to your company’s website to complete the transaction. With PCI compliance and fraud prevention, this kind of payment gateway offers a high degree of security. It is also simple to configure because the host takes care of all essential preparations.
- Self-hosted payment gateway: The merchant’s website is used to directly access the customer’s payment information. After being encrypted, this data is subsequently transmitted to the external payment gateway for authorization. The merchant has complete control over the user’s payment experience because there is no need to reroute to a different website.
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- API-hosted gateway: With an API, the merchant’s website is where the payment information and processing are controlled (Application Programming Interface). An API-hosted gateway can be integrated with many other systems, including mobile devices, and enables a completely customizable checkout experience.
- The payment gateway for cryptocurrencies – it functions similarly to other payment gateways. The buyer might choose to pay using cash or cryptocurrency. Each transaction is completed directly on the blockchain and cannot be undone.
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The best international payment gateways
PayPal is a well-known brand and one of the most reliable solutions for online purchases. Because of how simple it is to set up (making it a perfect choice for small businesses and start-ups), and because of how well-known it is, PayPal can help your firm gain the trust of potential customers.
Using your app or website, Worldpay, an all-in-one payment processor, enables you to accept credit card payments. With support for over 40 countries and 120 currencies, it is one of the most popular international payment gateways in the UK and makes it simple to accept payments from clients all around the world.
Depending on your business needs, Opayo (previously SagePay) offers three service tiers: Flex, Plus, and Corporate. Opayo enables you to accept credit/debit card payments from all the major card issuers and can process payments in multiple currencies.
PayPal owns Braintree, but the two companies run quite differently. Simply said, Braintree offers personal merchant accounts that let you handle transactions. For businesses looking for a worldwide payment gateway, it can be a great solution because it covers over 45 countries and regions.
Unlike to many other international providers of payment gateways, Stripe provides payment gateways in a variety of APIs. As a result, you’ll be in total control and able to incorporate your new payment gateway into your online store with ease. Moreover, Stripe provides strong local payment support and takes payments in over 135 different currencies.
Although being a relative newcomer to the payment industry, Amazon Pay is still a fantastic option for anyone searching for an international payment gateway with low rates and an easy to use UI. Additionally, it offers comprehensive multi-currency capabilities, giving your company the ideal foundation from which to grow abroad.
Adyen is a wonderful choice for companies wishing to grow into new regions and territories since it provides a worldwide payment processing solution with support for over 30 different currencies from around the world. With the help of our global online payment gateway, you may take a variety of payment options and provide your consumers with the kind of online shopping convenience they’ve grown accustomed to.
Checkout.com is a cutting-edge payment option with its all-in-one solution that combines merchant accounts and payment gateways. Checkout.com can be a suitable option for low-volume retailers even if it is quite pricey and allows payment in 159 countries.
2Checkout, which is currently owned by Verifone, is an excellent option for European companies seeking for an international payment gateway provider because it enables you to take payments in Europe from over 200 foreign markets. Also, 2Checkout doesn’t charge a monthly fee and provides free European payment collection, making it a potentially more cost-effective option than some of the more well-known brands.
Founded in 1996, Authorize.net offers organizations searching for an international payment gateway a fully customizable solution. But, it’s crucial to keep in mind that Authorize.net may not be as practical as other options on the list because it can only assist companies with locations in the US, UK, Canada, Australia, and Europe that accept international payments.
In more than 30 nations, GoCardless provides cross-border, direct account-to-account bank payments. The UK, nations of the Eurozone, the Nordic region, the United States, Canada, Australia, and New Zealand are among these nations. It is not essential to open a foreign currency account in order to accept payments worldwide because GoCardless can settle foreign currencies into GBP and deposit them straight into your UK bank account.
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