Payment gateways are the first step in the online payment process, and are very important in helping e-commerce companies find it easier to accept online transactions.
This gateway serves as an online version of payment terminals and processor entries for online and mobile sellers. They often sell service packs that include payment receipts, data reporting and fraud management.
BI Intelligence, the Insider premium business research service, expects US online processing market (from which the gateway withdraws a portion of its revenues) for approximately $ 10.7 billion in 2016 and grows to $ 17.5 billion by 2020, thanks in large part to increased purchases on line.
In addition, merchants and consumers turn digital, which gives more influence to the portal. BI intelligence estimates that US consumers will spend $ 385 billion through online and mobile channels by 2016. By 2020, e-commerce sales will reach $ 632 billion, 45% of which are from mobile phones.
With this projection, it is understandable that more portals would like to get a piece of cake. But as more companies enter this space, this will make a tough decision for the merchant. Which gateway payment provider should I use? What are the advantages and disadvantages attached to each?
Furthermore, we have compiled a list of leading companies in the industry to help you decide. Remember that no company or gateway has an incredible market share, and the competition between these companies remains strong.
1. Worldpay: Worldpay, based in the UK, is one of the longest online payment platforms. The company offers several payment services for online and in-store channels. In August 2016, the company has 400,000 commercial customers. In 2015, it handles 13 billion transactions worth more than $ 526 billion. Worldpay has increased its volume primarily because of the early engine advantages that allowed it to scale. It also offers a range of services across all channels, which diversify its revenue stream.
2. PayPal: PayPal provides merchants with their own gateway for online payments. Better known as an online processor, it handles nearly $ 300 billion by 2015, making it the tenth largest commercial buyer in the world. The biggest advantage of PayPal is your merchant and customer base. In August 2016, the company claimed more than 14 million merchants and 184 million subscribers, providing a much wider network than its competitors. In addition, PayPal makes initial bets on electronic commerce, which also provides initial benefits to users. And, finally, the payment process in the eBay market, which historically has shown the platform to massive payment volumes.
3. Amazon Payments: Patented Amazon payment process supports payments on your parent site, giving you instant access to high payment volumes. In addition, it has evolved by offering its platform to other commercial sites. This is an attractive proposition for third party merchants because Amazon has 250 million subscribers with payment information stored in August 2016, and these buyers are more likely to complete payments. One disadvantage, however, is that the gateway helps Amazon reinforce its brand, which is why many e-commerce merchants have to compete. The volume of Amazon payment processing increases 150% year over year by 2015.
4. Braintree: This Gateway, owned by PayPal, supports payments for mobile-focused merchants and benefits from access to 14 million PayPal sellers. Braintree has secured the business of some of the largest digital merchants in the world, such as Uber and Airbnb. Braintree offers developers with various SDK functions. The company has 219 million cards worldwide in the fourth quarter of 2015, 111% more than in the fourth quarter of 2014. The company handles more than $ 50 billion in payments by 2015, and most of its success is It owes its strategic focus on mobile , high growth trade channels.
5. Stripe: Stripe provides APIs that web merchants and developers can use to integrate payment processing on their websites. The company charges a flat fee of 2.9% plus 30 cents for each successful charge for a company that has a volume of less than $ 1 million annually. It also offers some free services (like refunds) that PayPal charges. And finally, Stripe makes it easy for merchants to update their payment platforms with just a few lines of code. However, traders have to wait two business days for their payments to be deposited in the account, and some in high risk industries have to wait seven business days.
6. Vantiv: Vantiv has been successful in its purchase, authorization and arrest almost without error. In May 2015, the processor successfully completed 95% of these transactions, which went beyond peers like Worldpay, PayPal and Braintree. The company also has a great speed advantage, as it often processes payment data in less than a second.
7. Adyen: Adyen offers corporate e-commerce payment platforms that include gateway services, risk management and front-end processing. Like Braintree, Adyen is a complete gateway stack and has several major merchants like Facebook and Spotify as customers. The Company has attracted traders with a unique platform that can support payments on any channel through 100 different payment methods and 200 countries. The company processes $ 50 billion in 2015, 100% of $ 25 billion in 2014. The company earned $ 350 million in revenue by 2015, and expects to break $ 500 million by 2016.
8. Payment Line: Payline's greatest strength is the competitive price it offers through two separate plans. However, the monthly rate is slightly higher than the average relative to its competitors. Payline offers applications and installations simple and easy to use so traders often get up and walk in a day. And finally, it offers 24/7 customer service over the phone and live chat.
9. Dharma Merchant Services: Dharma charges a monthly fee of $ 15, which is slightly higher than the market average. But the company makes up for it by not requiring a minimum of monthly compliance rate or PCI. And while Dharma offers solid customer service, it does not provide merchants with special account representatives, as their competitors often do.
10. Top business services: Flagship offers great flexibility to its clients, who do not need to sign long term agreements with the company. It also offers competitive pricing with different levels and has no cancellation fee if you decide to terminate your contract. Flagship offers the initial configuration of the next day for the account and, in general, saves the funds within two business days.
This gateway serves as an online version of payment terminals and processor entries for online and mobile sellers. They often sell service packs that include payment receipts, data reporting and fraud management.
BI Intelligence, the Insider premium business research service, expects US online processing market (from which the gateway withdraws a portion of its revenues) for approximately $ 10.7 billion in 2016 and grows to $ 17.5 billion by 2020, thanks in large part to increased purchases on line.
In addition, merchants and consumers turn digital, which gives more influence to the portal. BI intelligence estimates that US consumers will spend $ 385 billion through online and mobile channels by 2016. By 2020, e-commerce sales will reach $ 632 billion, 45% of which are from mobile phones.
With this projection, it is understandable that more portals would like to get a piece of cake. But as more companies enter this space, this will make a tough decision for the merchant. Which gateway payment provider should I use? What are the advantages and disadvantages attached to each?
Furthermore, we have compiled a list of leading companies in the industry to help you decide. Remember that no company or gateway has an incredible market share, and the competition between these companies remains strong.
1. Worldpay: Worldpay, based in the UK, is one of the longest online payment platforms. The company offers several payment services for online and in-store channels. In August 2016, the company has 400,000 commercial customers. In 2015, it handles 13 billion transactions worth more than $ 526 billion. Worldpay has increased its volume primarily because of the early engine advantages that allowed it to scale. It also offers a range of services across all channels, which diversify its revenue stream.
2. PayPal: PayPal provides merchants with their own gateway for online payments. Better known as an online processor, it handles nearly $ 300 billion by 2015, making it the tenth largest commercial buyer in the world. The biggest advantage of PayPal is your merchant and customer base. In August 2016, the company claimed more than 14 million merchants and 184 million subscribers, providing a much wider network than its competitors. In addition, PayPal makes initial bets on electronic commerce, which also provides initial benefits to users. And, finally, the payment process in the eBay market, which historically has shown the platform to massive payment volumes.
3. Amazon Payments: Patented Amazon payment process supports payments on your parent site, giving you instant access to high payment volumes. In addition, it has evolved by offering its platform to other commercial sites. This is an attractive proposition for third party merchants because Amazon has 250 million subscribers with payment information stored in August 2016, and these buyers are more likely to complete payments. One disadvantage, however, is that the gateway helps Amazon reinforce its brand, which is why many e-commerce merchants have to compete. The volume of Amazon payment processing increases 150% year over year by 2015.
4. Braintree: This Gateway, owned by PayPal, supports payments for mobile-focused merchants and benefits from access to 14 million PayPal sellers. Braintree has secured the business of some of the largest digital merchants in the world, such as Uber and Airbnb. Braintree offers developers with various SDK functions. The company has 219 million cards worldwide in the fourth quarter of 2015, 111% more than in the fourth quarter of 2014. The company handles more than $ 50 billion in payments by 2015, and most of its success is It owes its strategic focus on mobile , high growth trade channels.
5. Stripe: Stripe provides APIs that web merchants and developers can use to integrate payment processing on their websites. The company charges a flat fee of 2.9% plus 30 cents for each successful charge for a company that has a volume of less than $ 1 million annually. It also offers some free services (like refunds) that PayPal charges. And finally, Stripe makes it easy for merchants to update their payment platforms with just a few lines of code. However, traders have to wait two business days for their payments to be deposited in the account, and some in high risk industries have to wait seven business days.
6. Vantiv: Vantiv has been successful in its purchase, authorization and arrest almost without error. In May 2015, the processor successfully completed 95% of these transactions, which went beyond peers like Worldpay, PayPal and Braintree. The company also has a great speed advantage, as it often processes payment data in less than a second.
7. Adyen: Adyen offers corporate e-commerce payment platforms that include gateway services, risk management and front-end processing. Like Braintree, Adyen is a complete gateway stack and has several major merchants like Facebook and Spotify as customers. The Company has attracted traders with a unique platform that can support payments on any channel through 100 different payment methods and 200 countries. The company processes $ 50 billion in 2015, 100% of $ 25 billion in 2014. The company earned $ 350 million in revenue by 2015, and expects to break $ 500 million by 2016.
8. Payment Line: Payline's greatest strength is the competitive price it offers through two separate plans. However, the monthly rate is slightly higher than the average relative to its competitors. Payline offers applications and installations simple and easy to use so traders often get up and walk in a day. And finally, it offers 24/7 customer service over the phone and live chat.
9. Dharma Merchant Services: Dharma charges a monthly fee of $ 15, which is slightly higher than the market average. But the company makes up for it by not requiring a minimum of monthly compliance rate or PCI. And while Dharma offers solid customer service, it does not provide merchants with special account representatives, as their competitors often do.
10. Top business services: Flagship offers great flexibility to its clients, who do not need to sign long term agreements with the company. It also offers competitive pricing with different levels and has no cancellation fee if you decide to terminate your contract. Flagship offers the initial configuration of the next day for the account and, in general, saves the funds within two business days.
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