Day 28: Handy List of eCommerce Tools and Resources

Yesterday, we looked at the step by step process of how to start selling products and services online.  Today we’ll be discussing about payment gateways that allow you to sell products on your website.  The payment gateway takes care of the shopping cart and the payment processing, but redirects the customer back to your website for product delivery.

Here is a diagram that explains the role of payment gateways in product sales.  This is the same as “Option 3” in selling products on your website, as mentioned in yesterday’s article.

Website Payment - Option Three

I’ve compiled a list of payment gateways that provide the services depicted in the image above.

List of Payment Gateways


Payment Gateway - PayPal

PayPal is the most preferred method of receiving payments on the internet.  They claim to be the “faster, safer way to pay and get paid online, via a mobile device and in store”.  If you use PayPal as your payment gateway, it provides your customers the ability to pay without sharing financial information.  Customers also have the added flexibility of paying using their PayPal account balances, bank accounts or credit cards.

It is free to sign up and there are no monthly charges.  But to receive a commercial international payment, sellers need to pay a transaction fee of 3.9% on the total sale amount, plus a fixed fee of $0.30 per transaction.  If you sell a lot of products, then you can apply for their discounted rates.  PayPal supports 25 currencies in over 190 countries worldwide but additional fees may apply for currency conversions.


Payment Gateway - 2Checkout

2CheckOut is another popular payment gateway that simplifies the checkout process on your website by bundling the merchant account and payment gateway.  They also pride themselves on maintaining the highest level of security and fraud protection.  They also support 26 currencies in over 200 countries worldwide.  Customers can also choose from any of 15 languages to get a personalized and familiar checkout experience.

There are no sign up fees or monthly charges to use this service.  Businesses based in the US are required to pay 2.9% of the sale amount plus an additional 30¢ as fees for each transaction.  The rate for international sellers is 5.5% of the sale amount plus 45¢ per transaction.

Google Wallet

Payment Gateway - Google Wallet

Google Wallet is a free service that allows online businesses to process payments easily.  This service lets customers pass their payment details, shipping address, and other information stored within their Google Wallet to the website’s existing payment processor.  Google Wallet does not charge the seller anything to use this,  but they will still have to pay the standard processing charges as with regular credit card transactions.

The advantage of this service is that customers who use Google Wallet don’t have to re-enter their payment information every time they shop.  Also customers are retained on your site and not redirected to another website for the payment to be completed.  This service is customized for mobile users as well.


Payment Gateway - Skrill

Skrill is one of the world’s largest online payment providers currently being used by over 135,000 merchants.  They offer more than 100 payment options in 41 currencies, and cover about 200 countries and territories worldwide.  Their service is simple and easy to integrate and offers fast, real-time payment settlement.

They provide a high level of security on all transaction and their service comes at a competitive price.  The standard initial fee to receive payments online is 2.9% + €0.25 for European merchants and 2.90% + $0.29 for US merchants.  The fee for UK and non European merchants varies a bit.

Payment Gateway - AuthorizeNet is a service that lets your business website accept credit cards and electronic checks securely and easily from your website.  You can accept international transactions from customers worldwide.  However, your business must be based in the United States, Canada, United Kingdom or Europe.

Their charges include a one-time setup fee of $99 and a monthly gateway fee of $20 apart from the transaction fee.  You will be charged $0.10 for each transaction and $0.25 for each batch of settled credit card transactions.

Amazon Payments

Payment Gateway - Amazon Payments

Amazon Payments is a payment solution offered by the one of the most popular online retailers in the world.  If you choose to go with them, you are basically letting Amazon customers pay for your product or service through their Amazon account.  This is beneficial for your business because a lot of people trust Amazon as they are well-known worldwide.

There are no setup fees or monthly payments required if you decide to go with Amazon Payments as your payment gateway.  You only need to pay a standard rate of 2.9% + $0.30 for each transaction per-transaction for transactions of $10 or more.  They also support about 28 countries worldwide.

These are just a few poplar payment services that take care of the payment processing when it is set up on your website.  You can take a look at the features each service provide, and choose one that works best for the product/service you are planning to sell.  Tomorrow’s article will be a compilation of various eCommerce tools and resources for your business website.

Today's Action Step: Choose a payment gateway that best suits your online business requirements.

Click here to catch up on all the posts in this series.