Let's say that you have come across an ecommerce store with a clear intention to buy something from it. You add the product to your cart and navigate to checkout. To do so, you will need to choose the best online payment gateway for your store.
All you need to do is to enter the details of your credit card on the payment gateway page and make the purchase. The payment gateway will deduct the amount from your credit card and send it to the dropshipper's bank account after deducting some fees.
The dropshipper can then transfer this to his/her bank account. The gateway makes ecommerce payment processing easier and convenient. Dropship stores work just like ecommerce stores. The only difference is they don't sell products from their warehouses directly. To sell products of manufacturers, they need a payment gateway to make transactions.
Paypal
PayPal is the most commonly used payment gateway for ecommerce stores. It is an accepted payment gateway in more than 203 countries. Apple Pay and Google Pay still rule point-of-sale transactions, but you can nevertheless use the PayPal mobile app to pay and request payments from friends (even if they don't have the app), pay sites, and-- in limited cases-- pay stores. One big caveat for in-person payments under the coronavirus is that it doesn't offer NFC payments, as the OS platform plays do.
The current PayPal app is very good for paying others with PayPal accounts, and some may prefer its more no-nonsense approach, compared with Venmo and its attempt to tap into millennials' love of oversharing. It also benefits from PayPal's near ubiquity as a payment option on apps and websites, and from the fact that just about everyone who buys things on the web has a PayPal account.
In the United States, PayPal is the most commonly used ecommerce payment gateway. Even in Ukraine, Stripe is the most used online payment gateway.
Stripe
Stripe is a US-based payment gateway that's available in more than 25 countries. It is mostly used in Canada, Australia, and United Kingdom.
As a payment processor, Stripe allows business owners to accept payments from credit and debit cards and processes those payments. Using Stripe, businesses can also accept payments from mobile wallets and buy now, pay later services. Stripe also supports payments in a variety of currencies.
2Checkout
2Checkout is another payment gateway that's available in more than 87 countries. It supports all major credit cards such as Visa, Mastercard, Diners Club, American Express and others. It is available in many third world countries, where it is used in combination with another payment gateway. See the list of preferred payment gateway combinations below.
Its global payment options and subscription billing capabilities make it stand out, but its payment processing rates can be expensive compared with domestic rates. The product is well suited for businesses that sell digital goods online, could use advanced subscription tools and accept international transactions.
Skrill
Skrill is rated 4.7/ 5 on Trustpilot with over 16000 reviews, which is considered Excellent. Most of their customers are raving about the fast and secure currency transfer services and the intuitive app. But you can only gauge the true merit of a service by digging deep into real customer experiences.Skrill was established way back in 2001 when it was known as Moneybookers. ¹ It is an online payment system that works similarly to PayPal, allowing users to send and receive payments to users all over the world.
In this Skrill.com review, we'll take a closer look at those benefits, covering Skrill charges, exchange rates, debit card and credit card options, and more.
Skrill is very safe and secure. It is incorporated in the United Kingdom, where it is regulated by the Financial Conduct Authority. ⁴.
Understandably, some users may be concerned with its past association with the gambling industry, but it's important to remember that Skrill was founded in the UK and continues to operate under UK law. Online gambling is legal throughout the United Kingdom and is widely promoted on television and throughout sporting events.
Webmoney.
Webmoney is a money exchange system similar to paypal but based in Russia. They have plugins for many web stores and online poker sites, making for easy integration. All of your purchases are verified by SMS message (or an E-num system which is an extension of that which also requires SMS), which would seem to make them very secure.
WebMoney Transfer was founded in 1998 for the purpose of providing a global settlement system for online businesses. More than 39 million people worldwide have utilized their services. This company's headquarters are in Moscow, Russia, and the CEO is Avet Mnatsakanyan.
WebMoney Transfer is much different than a convention ISO or merchant account provider. It does not utilize traditional banking and credit networks. Instead, users transfer and purchase WM units, which are then withdrawn from a digital wallet into the designated currency.
Authorize.net.
Authorize.net is currently available in more than 33 countries. It is one of the oldest and most trusted online payment gateway providers. It also features multiple extensions for easy integration with WooCommerce stores. Authorize.net also has the lowest transaction fee or 2.90 + $0.30 for ecommerce and dropshipping stores.
Perfect Money.
Perfect Money is a e-transfer system based around its own e-currency. Users are able to hold multiple currencies and assets in their accounts. This company has been pushing to gain more of a share of the market among its competition, though it has definitely been an uphill battle.
Well established in Russia, this company is still pushing to be a major player on the international stage. Offering less accepted currencies and a short list of companies that use the payment system Perfect Money has a long way to go before it takes the top spot.
Exchange Service providers help Perfect Money users to top up their accounts through a number of different payment methods i.e. credit/debit cards, money transfers, bank wires, cash and other payment solutions. These funds are credited to client accounts as Perfect Money Units, though they will be stored in subdivisions of the accounts that correspond with the deposited asset.
To do so, you will need to choose the best online payment gateway for your store.
PayPal is the most commonly used payment gateway for ecommerce stores. One big caveat for in-person payments under the coronavirus is that it doesn't offer NFC payments, as the OS platform plays do.
As a payment processor, Stripe allows business owners to accept payments from credit and debit cards and processes those payments. ¹ It is an online payment system that works similarly to PayPal, allowing users to send and receive payments to users all over the world.