Secure and Seamless: Exploring the Top Online Payments Systems for Your Business
If you sell goods or services online, then you need to have an online payment system in place. They ensure a seamless and trouble-free experience for you and your customers by making transaction processing simpler, faster, and more secure. Global eCommerce sales are expected to hit $6.1 trillion by 2023, and with great demand, comes great options. But with so many to choose from, how can you know where to start?
The profitability of your business and the experience of your customers is hugely influenced by having a secure and smooth payment system.
As Meg O’Gara, eCommerce expert puts it…
“As an eCommerce business owner, it is your responsibility to ensure that your customers’ data is secure by implementing secure payment processing systems and complying with relevant data protection regulations.”
Making the perfect pick might be difficult with so many options available. Here’s a guide that will help you through the choices, giving you the truth behind the options, so you can pick the best payment method for you.
So, let's dive into the world of online payment systems!
1. GoCardless
GoCardless is one of the best online payment systems out there, and it provides companies with a simple and safe way to collect payments.
Key features
- Offers a streamlined, user-friendly payment system for businesses.
- Provides an easy-to-use dashboard for managing payments, customers, and subscriptions.
- Offers low transaction fees and no hidden costs.
- Integrates well with other business software and tools.
However, GoCardless might not be the greatest choice for companies that need one-time payments or invoicing, and it might not provide enough payment options for clients who prefer various payment methods.
2. PayPal
Paypal is one of the most recognised online payment systems worldwide and has over 430 million active users.
Key features
- Offers a variety of payment options like bank transfers, PayPal balance, and credit card payments.
- Provides a user-friendly platform for businesses to manage payments, invoicing, and customer data.
- Offers competitive transaction fees and no setup fees.
3. Axerve
Axerve is the best online payment system in Italy, and provides a range of advantages for companies. Online, mobile and point-of-sale payments are just a few of the payment options that Axerve provides to businesses.
Key features
- Provides a full range of payment solutions for companies of all sizes.
- Gives businesses a checkout experience they can customise to fit their brand.
- Offers reasonable transaction fees and waives setup costs.
- Supports a large number of payment options, such as e-wallets, bank transfers, and credit cards.
Axerve has numerous advantages, and can be a great solution if you’re looking to expand into Europe.
4. Klarna
Online payment service provider Klarna gives companies a flexible choice for client payments, such as pay-later and instalment programmes. For both users and businesses, Klarna strives to make online buying as seamless and easy as possible.
Key features
- Offers a flexible payment solution for customers, including pay-later options and instalment plans.
- Provides a seamless checkout experience for customers and businesses.
- Offers competitive transaction fees and no setup fees.
- Integrates well with other business software and tools.
5. Shopify
Shopify gives companies a number of tools to operate their online stores, including payment processing.
Key features
- Gives businesses a platform where they can manage the payment processing of their online business.
- Provides a user-friendly interface for controlling orders, payments, and client information.
- Provides no setup fees and competitive transaction fees.
- Combines well with other business tools and applications.
- Provides a variety of editable templates and themes to assist businesses in building an online store that looks polished.
Shopify works well for businesses that want an all-in-one solution, but it falls short for those needing advanced payment features. Plus, payment options for non-credit card customers are minimal.
Want to know more about adding payment methods? There’s a vast range of online payment systems out there, and we’ve covered everything you need to know in our blog. Read more.
6. Square
Popular payment processing service. Square provides a variety of payment options for companies, including in-person and online transactions.
Key features
- Provides a selection of offline and online payment options for businesses.
- Offers a user-friendly interface for controlling orders, payments, and client information.
- Provides no setup fees and comparable transaction fees.
- Combines well with other business tools and applications.
- Offers a variety of extra features, including payroll and invoicing.
Square is a popular online payment system for businesses. However, it lacks the data insights that you need. You should hold out for in-depth data analytics that help you to make informed decisions about payment strategies.
Plus, Square's payment options for non-major credit card customers are limited, and some of its features might not be suitable for larger businesses with higher payment volumes.
7. Amazon Pay
Amazon Pay is a payment service that allows customers to use their Amazon account to make purchases on third-party websites.
Key features
- Enables consumers with Amazon accounts to make payments in a simple way.
- Offers both consumers and businesses a smooth checkout experience.
- No setup expenses, and it offers affordable transaction fees.
- It is compatible with several corporate applications and tools.
Amazon Pay is ideal if you want to provide customers with a familiar payment experience. But, it may not be suitable for those who lack an Amazon account or need advanced payment features. Payment options are limited for non-major credit card customers.
You need a dependable and flexible payment solution for businesses of all sizes, with data insights to help optimise payment processes.
8. Venmo
The well-known mobile payment app Venmo gives users a simple way to transfer money through their Venmo accounts.
Key features
- A user-friendly interface for managing payments and transactions is provided
- Enables quick and simple peer-to-peer transfers.
- Combines well with other tools and applications for businesses.
Venmo is suitable for some businesses but has limitations, including limited payment options and a lack of advanced features.
You need a partner that provides advanced payment options such as pay by link, for easy and secure online payments without a website or mobile app.
9. Deel
With straightforward pricing and no additional costs, Deel is a payment solution that expressly addresses remote work and international payments.
Key features
- Offers a payment method made especially for international and remote payments.
- Provides clear pricing with no additional costs.
- Enables the management of payments, contracts, and compliance using an intuitive interface.
- Supports a variety of currencies and payment options.
But, if you're seeking a trustworthy payment method that offers fraud protection, you’re better off elsewhere. To protect your business and your customers' money, you need a variety of fraud detection and prevention tools.
10. Judopay
Your payment processing partner, Judopay offers flexible, secure and reliable services for your business.
Key features
- Offers seamless online checkouts crafted for your customer base.
- Provides multiple fraud detection and prevention solutions to keep you and your customers safe.
- Gives you valuable, actionable data insights with customisable reporting tools.
- Uses 3D 2 secure for reliable customer authentication and fraud prevention.
- Offers alternative payment methods and pay-by-link for modern, convenient purchases away from the website.
- Provides flexible set up options such as gateway-only and full-stack payments.
The truth of it
If you’re looking for a service that puts your business and customers’ needs first, then Judopay is the ultimate choice. Judopay will work with you to find the best all-round solution for your business. It’s never one size fits all here.
Judopay - your go to option
Ready to level-up the way you take payments? Say goodbye to generic processing and hello to Judopay's tailored approach. It’s the ultimate solution for businesses looking to optimise their payment processes.
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