{"id":2724,"date":"2021-03-26T20:09:00","date_gmt":"2021-03-26T20:09:00","guid":{"rendered":"http:\/\/blog.kindgeek.com\/?p=2724"},"modified":"2024-04-15T12:18:36","modified_gmt":"2024-04-15T12:18:36","slug":"3-best-payment-gateways-for-small-business","status":"publish","type":"post","link":"https:\/\/www.kindgeek.com\/blog\/post\/3-best-payment-gateways-for-small-business","title":{"rendered":"3 Best Payment Gateways for Small Business"},"content":{"rendered":"

Recently updated on April 15, 2024<\/p><\/div>\n

Growing. A huge part of any small business\u2019s lifecycle. Choosing a payment gateway for your small business is the same as picking up the grow-with-me pants for the child. In an attempt at simplicity, some payment systems may risk becoming barebones solutions that could struggle if your small business scales. <\/p>\n\n\n\n

In this article, we will explore the 3 best online payment gateways for small businesses that can grow together with your small business and ensure your customers\u2019 data security. <\/p>\n\n\n\n

Note<\/span>:<\/strong> if you are looking for the best mobile payment gateway, check out our previous article on Mobile Payments Gateway Integration.<\/p>\n\n\n\n

\n\n\n\n

How we evaluated best payment gateways for small business <\/strong><\/h2>\n\n\n\n

1. Grow-with-me principle<\/strong><\/h3>\n\n\n\n

Is the payment gateway flexible enough to scale as your business grows? <\/p>\n\n\n\n

2. Pricing<\/strong><\/h3>\n\n\n\n

Does it require the setup and monthly fees? What about the transaction fee?<\/p>\n\n\n\n

3. Supported payment methods<\/strong><\/h3>\n\n\n\n

Will your customers have a good checkout experience and? If so, they will be back!<\/p>\n\n\n\n

4. Customer service<\/strong><\/h3>\n\n\n\n

If something goes wrong, will you get help instantly? <\/p>\n\n\n\n

5. Security standards<\/strong><\/h3>\n\n\n\n

Will your customers trust your business? Can you ensure that their card data is in safe hands?<\/p>\n\n\n\n

6. Integration simplicity<\/strong><\/h3>\n\n\n\n

How much effort will you need to put into the payment gateway integration?<\/p>\n\n\n\n

\n\n\n\n

3 Best Payment Gateways for Small Business in 2021<\/strong><\/h2>\n\n\n\n

Here\u2019s our rate of the best payment gateways for small business: <\/p>\n\n\n\n

1. Stripe: most customizable payment gateway<\/strong><\/h3>\n\n\n\n

<\/p>\n\n\n\n

Founded in 2010, Stripe\u2019s initial purpose was to provide a simple way for start-ups to accept online payments with just a few lines of code. Since then, it has developed a range of products that make it easier for start-ups and small companies to do business online. Now, it\u2019s being used by small local businesses as well as the world\u2019s leading brands including Amazon, Uber, booking.com, Deliveroo, NBC, Just Eat, and Google. Whenever you are building a custom solution for your small business or integrating with an e-commerce platform, Stripe offers different kinds of scalable solutions for both online and in-person payments. <\/p>\n\n\n\n

Stripe overview <\/span><\/strong><\/p>\n\n\n\n

Cost<\/strong><\/p>\n\n\n\n

Stipe doesn\u2019t require any setup or monthly fees but the transaction fee is 2.9% + 30 cents per transaction. <\/p>\n\n\n\n

Supported payment methods <\/strong><\/p>\n\n\n\n

Apart from various types of credit cards, Stripe supports lots of payment methods: <\/strong><\/p>\n\n\n\n

Alipay
Apple Pay
Bacs Direct Debit
Bancontact
BECS Direct Debit
Click to Pay
EPS
FPX
Giropay
Google Pay<\/td>		iDEAL
Klarna
Microsoft Pay
Multibanco
OXXO
Przelewy24
SEPA Direct Debit
Sofort
WeChat Pay<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Here\u2019s a full list<\/a> of the payment methods supported by Stripe. <\/p>\n\n\n\n

Why is it crucial that your payment gateway provider supports many payment methods even if your business is small? There are several reasons why: reaching global customers, increasing conversion rates, and assuring a good customer experience. Read more about how to select the right payment methods <\/a>for your business in Stripe\u2019s blog. <\/p>\n\n\n\n

Customer service<\/strong><\/p>\n\n\n\n

24\/7. Through email, phone, or chat. Other than that, Stripe also has a support service that addresses the most common issues associated with Stripe integration or any other user\u2019s questions and needs. <\/p>\n\n\n\n

Security<\/strong><\/p>\n\n\n\n

You should be able to validate your PCI compliance to use Stripe. The easiest way for you to be PCI compliant is to not have access to your customers\u2019 card data at all. Stripe does all security heavy lifting to protect your customers\u2019 credit card information. <\/p>\n\n\n\n

Read Stripe\u2019s security integration guide<\/a> for more info. <\/p>\n\n\n\n

Integration <\/strong><\/p>\n\n\n\n

Stripe has a \u201cdeveloper-first\u201d approach. It started as a payment system that could be integrated just with a few lines of code and continues to follow this principle. What\u2019s more, Stripe supports more than 660 third-party integrations across marketing, sales, finance, operations, and e-commerce. <\/p>\n\n\n\n

Sum-up<\/strong><\/p>\n\n\n\n

Pros<\/strong><\/td>Cons<\/strong><\/td><\/tr>
\u2705 No setup and monthly fees. 2.9% + 30 cents per transaction.<\/td>\u274c Requires technical expertise and resources for the right integration and customization.<\/td><\/tr>
\u2705 Easy integrating within a custom solution or an existing e-commerce platform, making it the best payment gateway for small e-commerce businesses.<\/td>\u274c In-person transactions lack features and reliability. <\/td><\/tr>
\u2705 Supports various payment methods.<\/td><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
\n\n\n\n

2. PayPal: top payment gateway for small business<\/strong><\/h3>\n\n\n\n

PayPal is among the world\u2019s best payment gateway for recurring payments small business with more than 20 years on the market. PayPal offers a wide range of products that your small business can benefit from:<\/p>\n\n\n\n

<\/p>\n\n\n\n

PayPal Checkout<\/a>: a one-and-done payment solution that lets your business accept a range of payment types. It automatically offers your customers the most relevant payment options \u2013 whether it’s PayPal, Venmo, PayPal Credit, major credit or debit cards, or a local payment method.<\/p>\n\n\n\n

PayPal Payments Standard:<\/a> a good payment integration solution if you want to implement it yourself. Adding payment buttons to your site takes little more than copying and pasting a few lines of HTML code \u2013 no developer help required.<\/p>\n\n\n\n

PayPal Payments Pro<\/a> is great for those who want to accept credit and debit cards, PayPal, and PayPal Credit, but need more customization options. It allows you to create a unique checkout process that\u2019s best for your customers. Payments Pro is the best payment gateway option for small businesses that are scaling and growing. For this reason, you will most likely need a professional development service. <\/p>\n\n\n\n

PayPal Here: <\/a>allows you to set on-the-go or in-store payments. It turns the smartphone or a tablet into a portable payment center. <\/p>\n\n\n\n

PayPal overview <\/span><\/strong><\/p>\n\n\n\n

Cost<\/strong><\/p>\n\n\n\n

PayPal is free to set up. It charges 2.9% + 30 cents for online payments and 2.7% for in-person payments.<\/p>\n\n\n\n

Supported payment methods <\/strong><\/p>\n\n\n\n

If you choose PayPal as a payment gateway provider for your small business, your customers will be able to use such payment methods:<\/p>\n\n\n\n