10 Best Online Electronic Payment Systems

Life would be a lot better and easier if we were not required to handle bank checks or any kind of paper money, as it is quite irksome and tough to do, instead we could make any kind of financial transaction using the awesome world of internet. Well, the good news is that actually you can take advantage of electronic payments. If you have not been using this kind of kind of payment procedure, then you should definitely start now considering its ease.

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Here are a few things you should definitely know before we get started with the list of 10 Awesome Online Payment Systems.

ACH payments refer to electronic credit and debit transfers. While, a merchant account refers to a bank account which lets a customer receive payments via credit or debit cards.

Payment gateway lets merchants safely pass credit card details between the customer and the. Payment processor refers a company which merchants use for managing credit card transactions.

PCI compliance refers to when a merchant or payment gateway makes the payment environment in such a way which lives up to the Payment Card Industry Data Security Standard (PCI DSS).

We have a list of 10 Best online payment systems which let you accept payments on the Web. Most of the websites in this list have been out there for quite some time now, while others are relatively new. But the one thing common in all of these websites is that they provide awesome services. They are also getting into things like social commerce and in-store online card reader systems, which makes them even more handy. So now that we know the basic terms associated with the Online Payment Systems, we should start off with our list..

PayPal

paypal

PayPal needs no introduction as it is the world’s most widely used payment acquirer. Paypal payment process involves utilizing a user’s existing account or a credit card. You have the ability of sending money to any email address. PayPal takes 2.9% + $0.30 per transaction but the great thing is that it has no setup or monthly fees.

Amazon Payments

Amazon Payments

This one allows receiving money utilizing its API and sending money out through ACH. Crowdfunding site Kickstarter utilizes Amazon Payments. It takes 2.9% + $0.30 per transaction for payments over $10 (percentage decreased for larger transactions). The fee is 5.0% + $0.05 per transaction for payments below $10.

Google Checkout

Google Checkout

Google Checkout is the rival of PayPal from Google. Users can pay via an account connected to their Google profile. The amazing thing is that almost all the people are using one or more of Google’s services already making the Checkout an easier process. It takes 2.9% + $0.30 per transaction for sales less than $3,000.

Samurai by FeeFighters

Samurai by FeeFighters

FeeFighters is a really nice tool which allows comparing rates for merchant accounts. Samurai is the direct rival of Braintree and other gateway solutions. It is priced at $25 per month and they charg a $0.30 fee per transaction.

2Checkout

2Checkout

This one is yet another great payment processor that merges a merchant account and payment gateway, thus letting you receive credit card payments and PayPal payments both. It costs 3.99% (if you apply by May 1, 2012). They charge $0.45 transaction fee and $10.99 monthly service fee.

Authorize.Net

Authorize-Net

This one is the most popular and widely used payment gateway. More than 300,000 merchants use it. E-commerce platforms likes Magento, Volusion and X-Cart accept it. Setting up Authorize.Net costs $99, while the per month charges are $10 and they takes a $0.25 per-transaction fee.

WePay

WePay

WePay lets merchants accept credit cards and bank account payments online. They focus  more onindividual user, and thus they have added e-store pages to their website allowing their customers to easily take in payments (such as event tickets, products, donations and etc) through their service. They take a 3.5% transaction fee ( $0.50 minimum) for credit card transactions and $0.50 for bank payments. They do not have any changes for setting up an account or any monthly costs.

Braintree

Braintree

Braintree is famous for working with popular tech startups like Airbnb and LivingSocial. They take $35 per month, (with a $75 monthly minimum). Transaction fees begins from 2.29% + $0.30 per transaction for qualified cards.

Stripe

Stripe

Stripe allows web developers to integrate a payment system into their projects utilizing Stripe’s amazing API. Stripe behaves like a merchant account for its providers, managing all PCI compliance and merchant approvals. They have no setup or monthly fees, but they take 2.9% + $0.30 per transaction.

Dwolla

Dwolla

Dwolla is similar to PayPal and it processes over $1 million per day. They don’t charge anything for transactions less than $10. But they charge $0.25 per transaction for transactions above $10.


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4 Comments

  1. Kedar Lasane says:

    I recommand Payza.com to do money transaction in India and Pakistan.

  2. Sumon says:

    Very useful and informative post. I have used PayPal in most of my E-Commerce projects for payment.

  3. Abhijeet says:

    Great blog.Good to know that we have this many available online payments systems

  4. Dzinepress says:

    helping post and even some of these was not familiar for me, but now i will experience new payment methods.