An online payment platform is a service that exists between an eCommerce website and the bank that checked a customer’s credit card payment. service which can also process eCheck payments and debit cards. Hence, a payment gateway is to securely collect the consumer’s credit/debit card details and bank account data to the issuing bank and get a confirmation from it about the transaction if unique or accepted.
Jeff Knowles founded Authroize.Net in 1996, Authorize.Net Payment Gateway is one of the most well-known and largest payment gateways providers in the industry. Merchants can sign up for a payment gateway only or a full payment solution that includes a merchant account. They manage their account through Authorize.Net’s Merchant Interface. Merchants can set up multiple user accounts with permissions to control access for each user.
Millions of people worldwide choose PayPal as a method of payment for their business
They offer a three-tiered plan: PayPal Payments Pro, PayPal Express, and Checkout.
PayPal Pro permits you to customize and host your entire check out process and does not permit the customer to leave your site. You can transact using your credit cards via phone, fax, and mail.
PayPal standard, customers are permitted to leave your site to check out and log into their PayPal account or they pay by credit card without having to sign up for an account.
PayPal Express Checkout permit customers to leave your site during checkout and log in with their PayPal account. They can also create a new one. The PayPal button is also included on your site.
Amazon Payments start to compete with PayPal and Google Checkout in the year 2007, With your Amazon account Payments through online purchase are made possible. Amazon Payments offer merchants two options. First, Checkout by Amazon and secondly Amazon Simple Pay.
The major advantage of Checkout by Amazon’s is that a user doesn’t have to leave the retailer’s website to complete the process. The login with their Amazon account to finish the transaction. Amazon Simple Pay is for eTailers that sell virtual and digital products or subscription services.
Google Wallet is an app that allows a customer to make purchases by linked credit or debit cards, It was launched in 2011. The Google Wallet can be integrated on by the Marchant website by including a “Buy with Google” button as a payment option. Customers then bypass any sort of login and pay within two clicks, if logged into Google account.
through your existing payment processor, Google Wallet processes all transactions, so there are no additional fees. Google Wallet allows you to render services to customers like gift cards in their wallet and saving coupons to a wallet that is redeemable in your store.
Stripe Payment Solution
Stripe Payment Solution has a unique extensive developer tool that sets them apart from other payment processing providers. It was Established in 2010. Their APIs (application programming interfaces) allows developers to integrate with and build upon Stripe’s payment platform. For this reason, Stripe is a better choice for an online retailer, with access to developers, who are looking to build a customized check out process.
With Stripe you don’t have to design payment forms from scratch, It is an embeddable payment form for desktop, tablet, and mobile devices.
What about Apple Pay?
Apple announced its new service, In October 2014 and called it Apple Pay. The digital wallet and mobile payment service rival Google Wallet and PayPal. It enhances iPhone users to make quick purchases in-store and through apps.