Startup Series #21 – Payment Gateways

Startup Series, Startups | 0 comments | by Erin Quilliam

Whatever area of business your startup serves, you will more than likely need a payment process. Which means you will need to find a payment gateway to use and enable user transactions.

A payment gateway is a service that authorises payments for businesses. It communicates between the retailers and the payment processor, validating payments and ensuring customer’s data is encrypted and secure.

This means that whatever business you are running, you probably have to use one at some point. And if you are a business like a merchant, subscription service, or e-commerce site, you will rely on one.

There are several options out there. PayPal probably being the largest and most well known. But what alternatives are available? We’ve come up with a list of some alternative payment gateways for you to try.

 

Features

What We Like

Pricing

Authorize.net

Accepts all major credit and debit cards.

Able to accept various digital payment methods such as Apple pay, Paypal, etc.

Take payments from all over the world, however, your business must be in the UK, EU, USA, Canada, or Australia.

Merchant website integration.

Includes a fraud detection suite, giving you a whole host of tools to tackle fraud.

Address verification, and card code verification.

Abides by industry protocols such as the Payment Card Industry Data Security Standard.

Authorize.net is an excellent choice for a payment gateway. Their ability to accept a variety of payment options, from across the globe, makes them a truly accessible option.

There are also options for repeat billings, automated recurring bills, and more. It doesn’t store or ask for data to be repeated, making things simple for you and the customer.

Additionally, this payment gateway is easy to sync with QuickBooks, making it easy to keep track of your finances.

Equally, transaction reporting makes it easy to keep tabs on all your sales, and easily retrieve details for any queries, refunds, etc.

There’s also plenty of tools to help keep your consumers secure and safe. They’ve even got their own secure server that you can store sensitive data on.

They also offer services for payments over the phone or by post. However you’re planning to handle your payments, they will have a solution.

$49 startup fee.

$25 monthly gateway.

2.9% + 30c per transaction.

You can also contact for information on pricing for a payment gateway only plan.

Sage Pay

Accepts most credit and debit cards.
Accepts 25+ currencies.
Invoice and phone payments included.
Merchant website integration.
Abides by industry protocols such as the Payment Card Industry Data Security Standard.
As the packages increase in price, you gain access to more advanced fraud prevention tools. Including bespoke tools for the corporate package.
The Plus package also includes access to a range of local European payment types, letting you make sales in more places.
Sage Pay has long been a strong choice for handling payments quickly and securely. They boast a lightning-fast 2 days to receive your funds when connected to sage pay and sage accounts.
With a package of fraud screening tools as standard, you can have peace of mind and protect yourself from fraud.
This payment gateway also offers reporting and analytics tools. So not only can you track your transactions, but track user interaction and volume. Letting you get useful insights as well as your sales.
They also offer options for telephone, face to face, and invoice payments.
From £20.90 per month – Flex. Up to 50 transactions per month.
From £45 per month – Plus. Up to 500 Transactions per month.
Bespoke pricing – Corporate. Over 3000 transactions per month.

Stripe

Accepts all major credit and debit cards.
Accepts payments in all countries, and over 135 different currencies.
You can also accept payment methods like Apple pay and Android pay.
Merchant website integration.
Real-time free reporting as standard regardless of your package.
Accept international cards with currency conversion, for an extra 1% per transaction.
With separate charges for each kind of payment, you can also accept other global payments such as WeChat pay, Alipay, and more.
It’s easy to keep everything in check with Stripe, as it integrates with apps like Quickbooks and Netsuite. Making monitoring and reporting a breeze.
In fact, there are hundreds of integrations available to extend the platform and automate every process. From fraud reviewing, to dispute handling, and more. Letting you save time and make the whole process simpler.
Not only are there hundreds of integrations, but hundreds of tools. From the ability to handle multiple payment types to fraud tools, team security controls, data portability, and more. Meaning Stripe goes beyond being just a payment gateway tool, but a platform of tools to help make your sales process and business run more efficiently.
A real bonus for Stripe is the lack of monthly fees and startup fee. You also pay nothing for failed card charges and no extra fees for certain card types or providers.
2.9% and 30c per transaction – Pay as you go.
Contact Stripe for pricing and features available on their Enterprise plan.

Amazon Pay

Accepts all forms of payment as accepted on Amazon. Including all major credit and debit cards.
Merchant website integration.
There is the ability to accept cross-border payments. With a fixed fee according to the region the payment is from.
Tools available to generate data and reports for you to export and use. Such as settlement reports, date range reports, and donation reports.
Payment fraud detection and prevention technology included, as used by Amazon.
Available across devices, meaning customers can make payments wherever they are, whatever they’re using.
Amazon has brought out a payment gateway tool of their own, letting people use the familiar brand and login to make payments on other sites.
The fact that Amazon pay allows customers to log in with the same details as their Amazon account immediately brings a level of peace of mind such as the A-to-Z guarantee. It also means one less set of login details to remember.
It also means your customers will know their details are secure and handled in the same way as they are on Amazon.
As a seller, it means you know their details are safe, and your payments are secure.
If you ever need to process a refund, Amazon will also refund the fees you paid for the transaction to take place. There’s also no monthly fee for using the gateway.
3.4% + 20p per transaction – For UK domestic sale, and volume of less than 1500.
Processing percentage price drops according to the volume of sales, whilst the 20p authorisation fee remains fixed.
E.G: For a sales volume of 6000-15000 per month, you’ll only pay 2.4% + 20p per transaction.
Volume discounts are available.

Simplify Commerce

Accepts all major credit and debit cards.
Ability to accept other payment methods such as Apple pay, Android pay, and MasterPass.
Send electronic, customizable invoices.
Simple repeat payment feature, making recurring billings and subscriptions easy.
Lots of security features from tokenisation to state-of-the-art encryption and PCI compliance.
Fraud detection tools.
Simplify Commerce, created by MasterCard, is another payment gateway that becomes a platform for you to handle all aspects of your e-commerce and business.
It’s also another payment gateway boasting fast responsiveness. Meaning you get your funds deposited within two business days.
Like Amazon pay, Simplify Commerce is provided by a name both you and your customers know and trust.
There are no setup or monthly fees for using Simplify. There’s also no refund costs. However, the monthly fees are subject to a $10 minimum monthly processing fee.
2.75% + 30c per transaction.

 

Having the platform and tools in place to communicate with you, retailers, and payment processors and verifying payments is a tall order. Using a payment gateway provides you with the means to start handling payments quickly and easily.

Perhaps the simplest way of sorting which payment gateway you wish to use is by deciding how you want to handle payments and from which countries you wish to take them. Some gateways only handle payments from specific countries, or certain currencies, meaning if you’re looking to sell beyond the UK, you should make sure you can accept payments.

At the end of the day, a payment gateway offers you the tools and abilities to make sales online. But more often than not, they also serve as a platform from which you can handle a whole host of tools to make life simpler. From finances to data analysis, most payment gateways will offer solutions to help streamline or automate the process. So whatever stage your company is at, they will provide a lot of benefits, and grow with your business. Meaning it is well worth investing time in researching the perfect payment gateway, and the money in being able to use it.

In business, it’s also worth investing time and money in your software. Whatever problem you might be facing, or task you need to complete, we can build an application to help. Simply call us today to find out how we can provide you with the perfect, bespoke software solution for whatever your needs!

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