INSUBCONTINENT EXCLUSIVE:
If there’s one industry that technology has transformed hugely in recent years, it has to be retail
The fact is, most people are doing their shopping online rather than visiting physical stores
According to research, around 77% of UK adults buy goods online, with this statistic at around 79% in the US
As a market, e-commerce is clearly lucrative
Data from Statistica claims that it generated $2.3 trillion (£1.7 trillion) of sales worldwide in 2017
And by 2021, online retail revenues could reach $4.88 trillion (£3.6 trillion)
Besides major shopping sites such Amazon and eBay, PipeCandy estimates that there are three million e-commerce businesses of all sizes
globally. The best thing about the e-commerce market is that you don’t have to be a Silicon Valley tech giant to create your own store
Thanks to technology, it couldn’t be easier to make a living by selling items online
While it’s important to have a simple and easy-to-use website so customers can find items effortlessly, you also need to have a reliable
payment gateway in place to ensure that customers can make payments easily
Payment gateways are essentially applications that handle credit cards and direct payments processing for e-commerce websites, as well
as traditional brick and mortar outlets
Aimed at enabling smooth payment transactions, they usually connect payment portals to banking services
This service also has security processes in place to identify and block fraudsters from hijacking payments and credit card details
We've picked out the best of these solutions here. 1
Tipalti Accounts PayableA feature-packed payment gateway service Easy-to-use Lots of features Used by major firms Lack of upfront
pricing As a company, Tipalti may be a more obscure name, but it’s developed one of the most popular payment gateway solutions on the
Its platform aims to automate the entire payments operation while ensuring that your business is compliant with tax laws and regulations
The software gives companies the tools to cut mundane financial processes and drive revenue growth, with it capable of automating 80% of
That’s quite a claim, but the software does offer some nifty abilities
For instance, it comes with self-service registration, payment data vetting and capture, information validation, invoice capture,
purchase order matching, advanced approvals routing, tax form checking and annual financial reports
There’s also support for 120 global currencies. Aimed predominantly at mass payments, the Tipalti Accounts Payable solution is used by a
range of major companies, including Indeed, Twitter, Amazon, Vimeo, Nikon and GoPro
Because this is a corporate solution, prices vary and firms are asked to contact Tipalti for a quote
However, there is a demo available.2
Authorize.netA flexible payments solutionSupport for credit cards and digital providers Wide range of currencies supportedDesigned for any
business Limited use The main aim of these solutions is to streamline the payments process, and Authorize.net does exactly that
Developed with firms of all sizes in mind, the platform gives you the tools to sell items online, mobile or at a store
It accepts credit cards, e-checks and other payment methods
With the solution, you can accept payments from websites and transfer funds into a merchant bank account quickly
It supports all major credit cards, including Visa, MasterCard, American Express, Discover, Diner’s Club and JCB
As well as this, the platform is compatible with digital payment services such as Apple Pay, PayPal and Visa Checkout
Additionally, customers can purchase items by entering their payment details into a telephone
Although the software can accept transactions made by customers all over the world, your business must be registered in the US, UK, Canada,
Europe or Australia if you’d like to use it
Just like Tipalti, you have to email the company to get access to a list of price plans
StripeA customisable payment gateway serviceBuilt-in APIs and developer tools Bitcoin integration Mobile payments Tech understanding
needed Stripe is yet another powerful payment platform designed for internet businesses, with the company claiming to handle billions of
dollars worth of transactions annually
The main difference between this service and Tipalti or Authorize.net is that it isn’t an out-of-the-box solution
Instead, you’re provided with a range of flexible tools to develop your own payment processes. Designed for larger firms, it offers a
plethora of APIs that allow you to create your own subscription services, on-demand marketplaces, crowdfunding platforms
It supports a range of development languages, including Ruby, Python, PHP and Java. Although Stripe does need a lot more technological
knowledge from the user, it’s still a feature-rich payment gateway generally
Not only does it support more than a hundred currencies, but there are features such as mobile payments, Bitcoin integration, subscription
billing and one-click checkout
Users also get access to a dashboard where they can visualize transactions
Stripe doesn’t advertize the cost of the platform, but you can contact the firm for a quote
However, you only need to pay for the features you use, which is particularly handy if you find some elements of the software too hard to
AydenAn out-of-the-box solution for paymentsWorks from one platform Used by major firms Support for 250 payment methods Described as the
payments platform for growth, Ayden is used by companies such as Uber, Netflix, Spotify, EasyJet and Etsy to handle business and customer
The software lets you accept every payment made to your company from a single platform, as well as giving you tools to manage risk and track
results.Not only does Ayden accept more than 250 payment methods and 150 global currencies, but it also lets you analyse transaction data
For example, you’re able to identify buyer behavior and patterns, allowing you to tweak products and services
There’s also a built-in risk tool that cuts through data to identify and fight cases of fraud
Processing fees start at €0.10, and you have the option to set up a test account
PayPalA trustworthy payments solution Easy-to-use Suitable for personal and business use Affordable Changes to eBay Boasting more
than 220 million active accounts around the world, PayPal is clearly the most widely used payments platform
Founded in 1998 as Cofinity, it lets you make and receive payments all over the world
It provides payment processing services for e-commerce vendors, auction sites and other commercial entities globally
The business version of PayPal allows you to create and distribute invoices, accept payments through your company website or mobile
application, and sell items internationally
The platform is normally associated with online marketplace eBay, but it’s worth noting that by 2020, it’ll cease to be its main
While eBay will continue to offer it as an optional payment service, it will instead use Ayden as the main payment processor
Speaking in February, the company said it made the move to offer customers more competitive prices
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