As an ecommerce expert, I know that choosing the right payment processor is crucial for any online business. With so many options available, it can be overwhelming to decide which one is the best fit for your business. In this review, we’ll take a closer look at some of the best, safest, and easiest-to-use payment processors available for online stores.
First on our list is PayPal, a popular payment processor that is widely accepted by online retailers. One of the reasons why PayPal is so popular is because it offers a range of payment options, including credit cards, debit cards, and PayPal balance. PayPal also provides strong security measures to protect both buyers and sellers from fraud and chargebacks.
Our experience
When we first launched our online jewellery store back in 2010-11, the process of securing a payment gateway was not easy for newcomers. Thankfully, PayPal’s Web Payments Pro came to our rescue, enabling us to accept card payments without any prior evidence of online sales. As we progressed, we learned the importance of setting up fraud parameters within the PayPal setup, especially when selling high-value items. This allowed us to automatically block any suspicious payments and ensure a secure transaction. Another important lesson we learned was to always verify any doubtful orders by requesting official identification such as a passport or driving license and a valid correspondence address before sending out any goods. In case of any uncertainty, it is always better to cancel an order and wait for the right opportunity to come along. In situations where customers refuse to provide the requested information, we believe it is best to cancel the order altogether. However, for low-value items, the risk is minimal, and you can rest assured that your transactions will proceed without a hitch.
Next up is Stripe, a payment processor that is designed specifically for online businesses. Stripe offers a range of payment options and allows businesses to customize their checkout process. It is known for its strong security measures and ease of use, making it a popular choice for online retailers.
Our experience
Stripe is a much easier payments solution to use especially when initiated with a shopify website. Shopify handles everything for you and it is not a worry. If it feels an order is medium to high risk it will tell you in a small window next to the order details. Again any high risk orders we personally wouldn’t send and would ask for official ID and proof of the address where item is being asked to be sent. If you need help setting up your payments there are many helpful YouTube videos which talk you through the process. Just search something like how to securely set up stripe payments on shopify for that added assurance.
Square is another payment processor that is designed for small businesses. It offers a range of payment options, including credit cards, debit cards, and digital wallets. Square is known for its ease of use and transparent pricing, making it a great option for businesses that want a straightforward payment processing solution. Square also provides strong security measures to protect businesses and their customers.
Authorize.Net is another popular payment processor that offers a range of payment options, including credit cards, debit cards, and digital wallets. It is designed for businesses of all sizes and provides strong security measures to protect businesses and their customers. Authorize.Net also offers advanced fraud detection and prevention features.
Finally, 2Checkout is a payment processor that offers a range of payment options, including credit cards, debit cards, and digital wallets. It is designed for businesses of all sizes and provides strong security measures to protect businesses and their customers. 2Checkout also offers a range of customization options and advanced reporting features.
Which one of the above is easy to install?
All of the payment processors mentioned in the review are relatively easy to install and set up. However, some may be easier than others depending on your technical expertise and the complexity of your ecommerce platform.
For example, if you’re using a platform like Shopify, WooCommerce, or Magento, all of the payment processors mentioned have easy-to-follow setup guides and integrations available. Most of these platforms have built-in integrations for popular payment processors, which can make the setup process even easier.
If you’re not using a popular ecommerce platform, you may need to do some manual integration work to get your payment processor set up. In this case, some payment processors may be easier to set up than others, depending on your technical expertise.
Overall, while some payment processors may be slightly easier to install than others, all of the ones mentioned in the review are relatively straightforward and have extensive documentation and support available to help you through the setup process.