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Today webite owners can choose from a plethora of payment options when processing payments on their website, including credit cards, Apple and Google Pay, or even Bitcoin, just to name a few. In our recent article about areas of your business your ecommerce website should support, we discussed the importance of payment processing to both you and your customers.

But deciding which processor is the best fit can be a daunting task, once you sconsider whether their services will be compatible with all your business and customer requirements, now, and as your business grows and evolves.

When choosing a suitable vendor to handle your payment needs, you should consider factors such as:

• Does the company excel at processing website payments, mobile payments, point of sale or multiple payment services;
• What fees does the company charge, both as a percent of payment processed and fixed;
• Does the company offer "out of the box" payment processing or payment services via APIs;
• What are the costs of implementing payment services on my website;
• Does the company focus on supporting developers (technological documentation) or businesses (customer service);

The answers to these, and many other questions, should factor into your decision about which payment processor is right for you. Below we compare four credit card processing solutions we commonly use to process payments on websites designs we build and support.

PayPal

• Largest (by far) processor of credit and debit card transaction.
• Widespread used and recognized, consumer confidence, worldwide reach, and works as primary or supplemental payment method
• Good option for small businesses with lower transaction volumes.
• Pay-as-you-go terms pricing model, no long-term contracts or early-termination fees.
• Out of the box solutions that integrate easily with most ecommerce platforms.
• Primarily focused on processing online credit / debit card transactions.

Typical rates: 2.9% plus $0.30 per transaction

Source: https://www.datanyze.com

Braintree

• Owned by Paypal
• Advanced payment solution with extensive developer tools, support for alternative payment methods, a worldwide network, and top-tier customer support;
• Supports many payment options, including credit cards, PayPal, Apple / Google Pay, Venmo and more;
• Offers advanced tools such as fraud protection, data security and reporting.
• Supports website, mobile, and in-store point of sale payments.
• Volume discounts for customers with high transactions volumn.

Typical Rates: 2.9% plus $0.30 cents flat rate per transaction

Stripe

• Consumer name recognition and worldwide support, similar to Paypal, combined with developer support, similar Braintree.
• Offers solutions for mainstream (i.e. processing website payments via credit card) and alternative payment methods, such as Bitcoin and ACH.
• Provides excellent developer tools and documentation as well as solutions for fraud prevention and PCI compliance.
• Compatible with hundreds of business software applications and services, such as e-commerce websites, accounting systems and invoicing software.
• Offers out of box ecommerce tools, such as checkout forms, that can be integrated directly into your ecommerce website.

Typical Rates: 2.9% plus $0.30 cents flat rate per transaction; 0.8% for Bitcoin and ACH.

Authorize.net

• Owned by Visa.
• Well know, well-respected payment processor supporting many payment options.
• Good option for larger, established, traditional businesses and organizations.
• Offers both merchant account + payment gateway services as well as a payment gateway only option.
• Advanced fraud protection tools, excellent customer support, and business software integrations.
• Supports credit cards, international transactions, e-checks, mobile payments, donations, POS and recurring payments.

Typical Rates: $25 per month, plus 2.9% + 30¢ per transaction (Merchant account and payment gateway.)