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Home 2018-12-11T05:01:25+00:00

Payment gateways or also known as online payment processors are an integral part of every ecommerce store. Without payment gateways, the seller won’t be able to receive the payment from the customers. There are hundreds of different payment gateways to choose from and there is no best or perfect solution as there are pros and cons related to each payment gateway out there.

In this article, we will discuss two of the best ecommerce platforms in 2018: Shopify Plus and Magento Enterprise and we will explain the difference in the payment gateways they offer.

Out of the box, ecommerce solution Shopify supports lots of payment gateways while its competitor Magento has fewer options. More gateways can be added via third-party add-ons. Ecommerce solution Shopify also offers their own payment gateways which is way better and doesn’t need a merchant account to use. The credit card fees are lower than Magento’s and there are no transaction fees.

Shopify supports the most popular gateways in the world. You can accept payments directly with Shopify without the trouble of a payment gateway, you can use a third-party payment gateway (Shopify integrates with over 100 different payment gateways that allow you to accept credit cards from all over the world).

If you are already using Shopify, you know that Shopify charge 2.2% transaction fee for using the platform, however, this fee may be removed if you choose to use their payment gateway. The process is quick and the prices vary depending on which Shopify plan you are using. The payments can take up to 3 business dates. Shopify Payments powered Stripe and you will get a free credit card reader if you are also running a physical store. This payment gateway comes with lots of advantages including better integration and lower transaction fees. Some of the reasons provided by ecommerce solution Shopify for using their payment gateway is no more Shopify transaction fees, lower credit card costs, determine suspicious orders, and manage orders and payments directly within Shopify.

PayPal can also be set up in less than 24 hours and offers options for free and premium merchant accounts. PayPal has a great support system you can count in a case of a problem. PayPal charges 3.4% of all transactions + 20p.

Sage Pay is just another Shopify payment solution (it is used by UK businesses). This payment solution has a few different pricing options. It can take a few weeks to create your account and keep in mind that they may do checks on your online store.

When it comes to Magento, Braintree and PayPal are two triest and well-known payment gateways. These two are also recommended by the Magento team. PayPal has a huge share of the market handling over $130 billion in online payments in 2017. Along with PayPal and Braintree, these gateways can also integrate with Magento – Stripe, Net, Amazon Payments, Sage Pay, 2Checkout, and Google Checkout. These payment gateways are associated with robust security, high performance, and positive consumer sentiment. To integrate any of these options, go to Magento Store and download the appropriate extension.

Both platforms offer a lot of different options to choose from. If you decide to use Shopify payment gateway, make sure to do your research and determine the account set up time, length of time required for you to receive the payments, transaction fee options, protection against fraudulent payments, protection against suspicious or fraudulent payments, and technical support system.

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