How To Choose The Best Payment Gateway For Magento 2
Your choice of payment gateway will affect how well users convert on your ecommerce shop. If they don’t feel like the payment gateway is secure, they will not buy the product on your platform. If you are running your ecommerce store on Magento 2, there are lots of secure payment gateways that you can incorporate in your store to improve conversions. We’ll take a look at the pros and cons of the most popular payment gateways for Magento.
The most widely used payment gateway online is PayPal. Customers prefer PayPal because it’s secure, easy to use and convenient. It can support multiple sellers and admins get commissions on sales made. The best feature of PayPal is that it’s absolutely free. You don’t have to pay a monthly fee or setup costs to run it. It significantly reduces the cost of website development services (if you are hiring a professional to create your website). Additionally, PayPal is readily available in more than 200 countries so it allows you to reach out to a wide range of customers from all parts of the world. With just a single click, a transaction is complete and an invoice is created and sent to the consumer.
Disadvantages of PayPal: It’s easy to set up making it a popular choice for fraudulent sellers. Customers are rather skeptical due to this. They don’t have impressive customer support and can freeze accounts without any prior information. PayPal also charges high fees for business transactions.
Amazon also offers a reliable payment gateway that you can utilize in your Magento shop. The Amazon Simple Pay service and Checkout by Amazon offer a reliable way to receive money. Customers can quickly select products and check out with payments. Among the advantages of this payment gateway include:
– It has a good fraud detection system
– Impressive customer support
– Verification done to prevent fraudulent activity
– No upfront cost to integrate this payment gateway on your site
– All transactions are completed on the site making it convenient for you and the customer
– You can maintain control of the whole shopping experience
Amazon also has a few drawbacks. They include:
– Your account can be suspended without any notification
– Amazon payments do not involve any contracts
This payment gateway is also popularly used in eCommerce website development in Chicago because it offers reliable fraud protection and simplicity. Integrating Braintree on your online platform is easy. It has multiple payment checkouts that can apply to different websites and applications. Braintree features more than 130 currencies and is used in 44 countries. You don’t pay any monthly fees on this platform which makes it an ideal asset for small businesses. It also comes with PayPal integration. It’s a well-designed payment gateway that you only pay for when you have used it. However, Braintree doesn’t offer any return fees on partial refunds.
Don’t approach the process of choosing a payment gateway for your site in a hurry. Take time to ensure you find the right platform that meets your requirements and objectives. Consult a website production company in Chicago to offer advice on choosing the best payment gateway.