In a rapidly rising digital marketplace, e-commerce as well as dropshipping is in great buzz. With the increasing hype of dropshipping, cashless economies are now prevailing. Simple payment methods like PayPal are available across countries. These payment methods can be integrated with every e-commerce platform whether you have a Shopify Website Design or Magento E-commerce Development. Thus, most of the online marketers are getting handy for an entire new kickoff in dropshipping.
What’s An E-commerce Payment Gateway?
A payment gateway is an essential element that promotes any online transaction between your business and your clients. Selling items, as well as services, are only possible with an integrated payment gateway. Payment gateways link a brand with users and draw much of the UX. Ranging in complexity, both e-commerce, as well as dropshipping stores, rely on these gateways for financially feasible operations. In fact, dropshipping businesses require a payment gateway to fulfill transactions for selling products from manufacturers.
An e-commerce payment gateway is liable for all transactions of the store. Users just need to enter their card details on the payment gateway page after adding items into the cart. So, the payment gateway will then deduct the amount from the user’s card and transfer it to the dropshipper’s bank account after charging some transaction fees. Whether your store is built with Magento E-commerce Development or Shopify Website Design, payment gateways can be integrated with every store.
Why e-commerce Payment Gateways are Vital in Dropshipping?
Dropshipping stores work similarly to e-commerce stores. The only variation is they don’t sell goods from their inventory directly. Thus, to sell goods of manufacturers, they need a payment gateway to carry out online transactions. Different providers provide different types of payment gateways. You just need to choose the right one.
For instance, in the USA, PayPal is the most common e-commerce payment gateway. In Canada, Payoneer, as well as Stripe, are mostly opted gateways. So, while addressing a specific country, choose a payment gateway that is already trending over there. Different e-commerce development platforms such as Bigcommerce, Magento E-commerce Development, or Shopify Website Design leverage multiple payment gateways integrations.
Best Payment Gateways for Dropshipping Stores
Here’s a curated list of the top-notch payment gateways that dropshipping businesses use the most. You will get in-depth details about the supported countries, and the transaction fee charged by these payment methods.
PayPal is the most widely used payment gateway for e-commerce stores across the continents. It’s the most trusted payment gateway in over 203 countries. It supports all major credit cards such as Visa, MasterCard, American Express card, Citibank card, etc. To start dropshipping transactions, you will need to set up a business PayPal account. It charges no transaction fee.
Stripe is a US-based gateway that’s accessible in over 25 countries. It facilitates all premier credit cards. But, it’s mostly accessible in Canada, Australia, and the UK. Like other major gateways, it offers WooCommerce integration as well. It charges no fee.
2Checkout is another renowned gateway that’s handy in nearly 87 countries. It supports all major credit cards including MasterCard, Visa, Diners Club, American Express card, and more. It’s being used in many third-world countries in combination with another payment gateway. It leverages no charges on transactions.
Authorize.net is presently accessible in nearly 33 countries. It’s one of the oldest as well as most trustworthy payment gateways. It also facilitates multiple extensions for smooth integration with WooCommerce stores. Authorize.net charges the lowest fee 2.90 + $0.30 per transaction for e-commerce as well as dropshipping stores.
Now we have Skrill, a payment option feasible in more than 40 countries. It costs 1.9% checkout transfer fees. It also provides an official extension for integration with WooCommerce and Magento E-commerce Development dropshipping stores.
WePay is an online payment method for dropshippers who want to add a seamless as well as swift payment gateway to their store. Though WePay is a custom payment solution, it currently offers a limited number of payment options only.
Google Pay is the most reliable option with Google security for e-commerce store owners in western areas. Most users in the USA and European countries use Google wallet for adding money. As they shop online, they can pay hassle-free with the Google Pay checkout option. Not only is this method faster than other gateways, but also much more trustworthy. Google checkout also charges a meager amount since the payment holder also has a bank account.
Wrapping Up
A payment gateway is a crucial aspect of any e-commerce business. However, choosing the right one is a bit difficult task. So, just test with multiple payment methods and pick the one that works quite well. If you are just starting, go with trendy payment gateways such as PayPal, Stripe, and 2Checkout to reduce the risk of losing potential customers to your web stores. Reach out to Clap Creative for in-depth assistance with payment gateways. We offer top-notch e-commerce development with Shopify Website Design, WooCommerce, and Magento Development Services.
Original Source: https://www.clapcreative.com/best-payment-gateways-e-commerce-2021/
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