As a business owner, choosing the right payment gateway is vital for your Magento shop to run seamlessly. A top-notch Magento payment gateway can help you maximize your profit. Many entrepreneurs make the mistake of selecting the first payment gateway they find. However, there are many factors to consider when choosing the one that’s tailored for your business.
Bad Consequences of Choosing an Inappropriate Payment Gateway:
- Transaction Failures: High rates of transaction declines can frustrate customers and lead to lost sales.
- Security Risks: Inadequate security measures can expose your business to fraud and data breaches.
- High Fees: Hidden fees and high transaction costs can eat into your profits.
- Limited Payment Options: Not supporting preferred payment methods can drive customers away.
- Poor Integration: Complicated or faulty integration can disrupt your store’s operations.
At Atwix, we offer a curated list of the best payment gateways for Magento 2, ensuring your business runs smoothly and securely. Learn more about our Magento Payment Gateway Integration services.
What to Consider While Searching for a Payment Gateway for Magento
When creating a store, choosing a Magento 2 payment gateway that is compatible with the process you need is crucial. However, choosing a payment gateway for your ecommerce website can be daunting, especially if you’re new to ecommerce. With so many options available, how do you know which one is best for your website?
To help you out, here are some of the things you need to keep an eye on:
Security
The security of your website is one of the most important aspects to consider when selecting a payment gateway. Most of the payment gateways use 128-bit SSL encryption technology to make all the transactions secure.
Some payment gateways are Payment Card Industry (PCI) compliant, a standard used to protect card information. It would be best to look for a payment gateway that offers PCI-compliant technology, as it is highly secure.
Convenience
The best payment gateways make paying very convenient for your customers to buy from your store. The payment gateway should also be easy to integrate with your e-commerce website.
Capabilities
Do you need a system that accepts international credit cards? Do you need a gateway to let you use your domain name? Do you allow online checks? Knowing the capabilities of the gateway, as well as its limitations, will help you choose the one that fits your business.
BNPL, Apple Pay, Google Pay
Gateways that allow customers to pay with alternative payment methods like “buy now, pay later” will not only be more convenient for you store visitors, but also can affect the conversion rate.
Cost
Merchant fees, transaction fees, gateway fees — fees everywhere! These fees can add up quickly and cut into your profits. So you must find a payment gateway that won’t put a big dent in your pocket.
How to Integrate a Payment Gateway into Your Website
Depending on your selected payment gateway, there could be a few different ways to set it up. If the selected payment gateway has a native integration with Magento, you can try to set it up on your own using guides and tutorials online.
Alternatively, you can order this service from Atwix. Atwix has helped many clients with integrating payment gateway with Magento. Magento integration services can streamline the setup process, ensuring seamless integration between your chosen payment gateway and your Magento-based eCommerce platform.
Magento Payment
Gateway Integration Services
Atwix has helped many clients with integrating payment gateway with Magento & Adobe Commerce.
Moving forward, here are the most popular options for payment gateways that you can integrate with Magento.
Top 8 Magento 2 Payment Gateways
Need some recommendations on the best payment gateway for Magento 2? Check this list:
PayPal
1. PayPal
PayPal is one of the most popular Magento eCommerce payment gateways, known for its security and ease of use. It’s a trusted option for many online merchants due to its wide acceptance and robust fraud protection.
Features:
- Supports multiple payment methods: credit cards, Venmo, bank transfers
- High security with fraud protection
- Easy integration with Magento
- Supports 26 currencies
Limitations:
- High fees for small transactions
- Sluggish fund withdrawal process
Pricing:
- 2.9% + $0.30 per transaction (domestic)
- Additional 1.5% for international transactions
- Monthly fee for PayPal Pro: $30
Authorize.Net
2. Authorize.net
Authorize.net is known for its robust security and reliability, suitable for small and medium-sized businesses. It has been a reliable player in the payment processing market for many years.
Features:
- Supports credit cards, eChecks, Apple Pay, Google Pay
- Advanced fraud detection
- Virtual point-of-sale (POS) system available
- Easy integration with Magento
Limitations:
- Can be costly for small businesses
- Limited to USD transactions
Pricing:
- $25 monthly gateway fee
- 2.9% + $0.30 per transaction
- Additional fees for batch processing
Braintree
3. Braintree
Braintree, owned by PayPal, provides a seamless checkout experience and supports a wide range of payment methods. It’s ideal for businesses looking for a comprehensive payment gateway plugin for Magento.
Features:
- Supports 130+ currencies
- Advanced fraud detection and prevention
- Recurring billing
- Easy integration with Magento
Limitations:
- Fees on partial refunds are not returned
- Less user-friendly control panel
Pricing:
- 2.9% + $0.30 per transaction
Since 2007, Braintree has expanded its merchant base by working with companies such as Uber, Airbnb, and GitHub. The company’s primary goal is to make accepting payments simple, fast, and straightforward for the store owner and the consumer.
Braintree accepts credit card payments, Apple Pay, Bitcoin, and PayPal.
4. Stripe
Stripe is a highly customizable payment gateway, perfect for developers. It is known for its flexibility and extensive features, making it a favorite among tech-savvy businesses seeking a reliable Magento payment processing solution.
Features:
- Supports over 100 currencies
- One-click checkout
- In-app payment integration for mobile apps
- Advanced reporting and fraud prevention tools
Limitations:
- Requires technical knowledge for setup
- Does not support 3D Secure
Pricing:
- 2.9% + $0.30 per transaction
- Additional 1% for international transactions
5. Square
Square is known for its simplicity and ease of use, ideal for small businesses. It offers a comprehensive set of tools for managing payments both online and offline.
Features:
- Supports credit cards, mobile payments
- Free point-of-sale (POS) software
- No monthly fees
- Instant funds transfer
Limitations:
- Limited to the US, Canada, Japan, Australia, and the UK
- High transaction fees for high-volume merchants
Pricing:
- 2.9% + $0.30 per transaction
- No monthly fees
6. Worldpay
Worldpay is a leading multi-currency payment gateway with extensive global reach. It is known for its comprehensive payment processing solutions.
Features:
- Supports credit cards, digital wallets, and alternative payment methods
- Multi-currency support
- Advanced order management and reporting tools
Limitations:
- Unclear pricing structure
- Customer service needs improvement
Pricing:
- 0.75% to 2.75% per transaction, depending on the transaction type
7. Adyen
Adyen offers a unified payment platform with extensive global support and scalability. It is favored by large enterprises for its robust features and scalability, making it an excellent Magento eCommerce payment gateway.
Features:
- Supports over 250 payment methods
- Advanced fraud detection and PCI compliance
- Real-time data and reporting tools
- Scalable solutions for businesses of all sizes
Limitations:
- Higher fees compared to some competitors
- Requires technical expertise for integration
Pricing:
- 3.95% + $0.12 per transaction
8. Razorpay
Razorpay is a popular payment gateway in India, offering extensive features and ease of use. It is well-suited for businesses looking to cater to the Indian market.
Features:
- Supports multiple payment methods: credit cards, UPI, net banking
- Instant settlement options
- Easy integration with Magento
Limitations:
- Customer support can be slow
- Higher fees for international transactions
Pricing:
- 2% per transaction for domestic transactions
- 3% to 3.5% for international transactions
Summary
Opting for Magento payment gateway integration from a solution partner over a DIY approach brings key advantages. Expert partners ensure secure, efficient transactions and offer future-ready solutions with ongoing support.
Self-implementation may lead to Magento security risks and operational inefficiencies. Therefore, utilizing professional services promises a superior and reliable e-commerce experience.
