ON LINE SHOP - PAYMENT OPTIONS
Which one ?
The process of receiving money for your sales via an online payment method involves three parties:
- Your store.
- The payment gateway: a special system, located outside your store but connected to it on a programming level, that processes your customers' credit cards (or e.g. PayPal accounts) and does charging
- Your merchant account at the payment gateway connected to your bank account.
To put it simply, your store connects to the payment gateway, transmits the order details, the payment gateway processes the customer's credit card and transfers the money to your merchant account. Then you can withdraw the funds to your bank account.Online payment methods can be narrowed down to 2 options:
Option 1 = Accepting credit/debit cards.
Option 2 = PayPal, a leading payment processor in US presently. To provide credit card payment option, you should choose a payment gateway through which your funds will be processed. So your next question is...
Payment Gateway - which one ?
What payment gateway should I choose for my store?
Choosing a payment gateway means choosing a company (payment processor) who meets the following criteria:
They accept payments in your region (i.e. where you live or run your business) and allow paying with your currency. It could be a company working solely in your country like PayPal, etc).
Their services meet your business requirements.
Their plans and prices suit your budget. Most of the payment systems apply transaction fees. To learn exact fees, you should contact customer service of the payment company that you're considering. Below you will see a full list of payment gateways that are already connected.
Payment Methods
Here is a list of all online payment methods that can be integrated into your on-line shop.
| Payment Gateway | Support Countries |
|---|---|
| Square | USA, Canada, Australia, UK, and Japan |
| PayPal (Standard, Advanced, Express Checkout, Payflow Link, Payments Pro Hosted) | 200+ supported countries |
| Stripe | 20+ supported countries |
| Authorize.Net SIM | USA, Canada, UK, Australia and New Zealand |
| 2Checkout | 200+ supported countries |
| First Data Global Gateway e4 | 140+ supported countries |
| Payeezy | USA and EU |
| Allied Wallet | 190+ supported countries |
| American Express | USA, UK, France, Germany, Mexico, and Australia |
| ArsenalPay | Russian Federation |
| Authipay Payment Gateway | UK and Ireland |
| Bambora Online Checkout | USA, Canada, Sweden, Norway, Denmark, Finland, Australia, and New Zealand |
| Beanstream (Hosted Payment Form) | USA and Canada |
| BitPay | 200+ supported countries |
| Boleto Online | Brazil |
| CC Avenue | India |
| Checkout Finland OV | Finland |
| CoinPayments | 180+ supported countries |
| Datatrans Payment | Switzerland |
| Dwolla | USA |
| eWAY Rapid | Australia and New Zealand |
| iDEAL (via Mollie) | Netherlands |
| IntellectMoney | Russian Federation |
| Instamojo | India |
| iPay88 | Southeast Asia (including Malaysia, Philippines, Thailand, Indonesia, Vietnam, Singapore and a few others) |
| iPay88 Philippines | Philippines |
| iPayment | Germany |
| Lemon Way | EU |
| Mercado Pago | Argentina, Brazil, Chile, Colombia, Mexico, Venezuela, Peru, and Uruguay |
Start accepting payments
What do I need to do to start accepting credit cards?
- Open a bank account where you will transfer the money from your purchases.
- Find a payment company/processor from the list above.
- Create an account with the chosen company.
- Configure the payment method in your store according to instructions that Go-Web design will provide.
- Make sure it works properly. A recommended way would be to create a test product, e.g., $0.01 and try to buy it as a usual customer. If the payment is setup correctly, your order will be recorded in Accepted status in your control panel.