9 Best Magento Payment Gateways
Magento Payment gateways are essential parts of the buying experience. They can affect the customer’s decision to buy something or not. One of the challenges eCommerce store owners face is selecting a payment gateway integration that works optimally for their Magento stores. Also, Magento website design services can enhance the shopping experience for your customers. Tekglide, a Magento development agency, offers expert services to integrate various payment gateways into your Magento store.
Magento payment gateways:
Evaluating the best Magento payment gateway for your store requires you to consider several factors, such as:
- Security: A payment gateway should offer secure transactions for your customers. So, you have to consider the gateway’s data security features.
- Reliability: It’s best to use a payment gateway that is easy to integrate into your Magento store.
- Pricing: Different payment gateways have different features and pricing. Which one is best for you depends on your business requirements? For example, if you have international customers, your payment gateway should support many currencies.
- Scalability: Again, different payment gateways depending on your business’s size.
Magento payment gateway list
Here is the best Magento payment gateway list to take your online store to the next level.
- PayPal
PayPal is a long-standing payment gateway used by millions of people worldwide. It is hands-down the best Magento gateway because it is built into Magento.
Small businesses worldwide prefer PayPal due to its simple user interface (UI) and unique features. Plus, you can accept online payments with PayPal Express Checkout. You don’t have to install Magento extensions for this purpose.
| Pros | Cons |
| 1. Secure Payment | 1. Bad customer service |
| 2. Buyers can buy in different currencies | 2. Can be a target of scams and phishing |
| 3. Additional Magento support features | 3. In cases of dispute, delays can occur with funds. |
- Stripe
Stripe has a wide range of features and is easy to use. It gained popularity because it handles payments and can integrate into your business. Like PayPal, Stripe supports many currencies. As a result, you don’t have to set up separate merchant facilities.
One benefit of Stripe over PayPal is that it stays on-site when the customer clicks to pay. Unlike PayPal, a different site redirects customers during checkout. This increases eCommerce stores’ chances of losing customers when redirected during payment. Magento 2 Stripe extension is the top choice for global Magento store owners.
| Pros | Cons |
| 1. Supports many currencies | 1. Expert software knowledge may be necessary to use some of the tools and open APIs. |
| 2. You can create a custom checkout flow using the advanced developer tool. | |
| 3. Transparent pricing. No hidden monthly fees. |
- Braintree
Braintree is a service by PayPal. Some well-known companies, such as Uber and Animoto, use Braintree as their payment gateway. It is one of the best payment gateways for Magento store owners because it is safe and convenient. Security features include determining potential threats and risky transactions. Braintree supports recurring payments.
Both payment gateways offer features like PayPal, but Braintree allows more customization at no extra cost.
Like PayPal and Stripe, Braintree supports many currencies and works on eCommerce websites and POS.
| Pros | Cons |
| 1. Secure payment processing | 1. It isn’t easy to set up Braintree in your Magento store. |
| 2. Advance safety features to deal with fraud and chargebacks. | 2. No seamless migration from existing payment systems. |
| 3. Stores customer data for recurring billing |
- Authorize.net
Authorize.Net has become a trusted solution for small and medium-sized companies. It has excellent integration with Magento stores.
Authorize.net offers a secure payment service. Its easy-to-use payment gateway and uncomplicated interface distinguish it from PayPal and Stripe.
Authorize.net Customer Information Manager (CIM) function enables customers to save their credit card information to buy again later. This payment gateway is used for eCommerce businesses based in the United States, Canada, Europe, and Australia only.
| Pros | Cons |
| 1. Supports several varieties of card types | 1. Requires separate merchant accounts. |
| 2. Automated receipts. | 2. No free trial |
| 3. Magento’s checkout page won’t redirect users during payment. |
- Amazon Pay
Like Amazon, the Amazon payment gateway is fast, secure, and convenient for your Magento store. Customers can pay via Amazon Pay by logging and using their Amazon accounts at your Magento store. We all know how important a customer experience is in eCommerce. Via Amazon Pay, the time it takes for the customer to check out decreases; hence, the chances of your repeat customers and more sales increase. Also, your Magento store will use customer information from their Amazon accounts, saving them from creating a new account or remembering their password.Like Amazon.com, Amazon Pay also offers protection against fraud.
| Pros | Cons |
| 1. Quick and seamless payment process | 1. Not a friendly user interface. |
| 2. Customers can pay via mobile |
- 2Checkout
2Checkout is an excellent Magento payment gateway with an extensive global reach. It handles the challenges of digital commerce globally. It is ideal for subscription-based businesses, as it provides recurring billing to customers.
2Checkout offers a multi-tier defense mechanism against fraud and threats to your business. It also accepts several payment methods, such as credit cards, debit cards, and PayPal.
| Pros | Cons |
| 1. Supports many currencies | 1. Transaction fee higher than PayPal |
| 2. Offers versatile payment solutions for Magento stores | 2. Customer service could be better. |
| 3. Provides automatic recurring billing every month for subscription-based businesses. |
Integrate 2checkout into Magento via API. If you find the integration difficult, hire a certified Magento developer to help you.
- Dwolla
No matter the size of your service store, Dwolla is an efficient and flexible payment gateway. Your Magento store will accept ACH payments.
Dwolla is preferable to B2B businesses because it has seamless API integration. Hence, you can track your financial activities, confirm bank details, and manage payments within the dashboard.
Integrating Dwolla into your Magento store may need some coding. If you need to become more familiar with it, you might need an expert to integrate the payment gateway on your website.
| Pros | Cons |
| 1. Accepts all major credit cards | 1. Doesn’t support international payments. Users have to be in the United States |
| 2. API is simple | 2. Customers don’t find it as trustworthy as the other payment gateways. |
- First Data Payeezy
Based in Canada, Payeezy is ideal for scaling eCommerce businesses. It offers innovative PoS and payment solutions, accepts many currencies, and enables global payments. It also identifies frauds and threats to your business. Integrating Payeezy with your Magento store enables credit card processing for secure online payments.
| Pros | Cons |
| 1. You can customize the title for the payment method in the front end | 1. Overpriced account fees |
| 2. 3D secure checkout prevents fraud. | |
| 3. Supports many currencies. |
- WorldPay
It is one of the most fantastic payment gateways but is less popular than PayPal or Braintree. But it is a convenient gateway that requires no out-sourcing.
WorldPay offers plenty of payment options for your customers. It is a secure payment gateway with robust risk management capabilities, which makes it a great choice for Magento eCommerce merchants.
WorldPay provides a report that monitors your performance, which is a unique feature.
| Pros | Cons |
| 1. Great technical support provided. | 1. It takes a long time to set up an account. |
| 2. Allows several payment methods. | |
| 3. Supports international payments |
12 unique business ideas for Magento payment
Here are 12 unique business ideas related to Magento Payment Gateway:
- Integrate custom payment gateways for niche needs.
- Help choose the right payment gateway based on needs and budget.
- Create custom payment gateway plugins with unique features.
- Offer premium features for Magento payment.
- Support many currencies and languages for global expansion.
- Integrate mobile payment gateways for mobile commerce.
- Ensure PCI compliance for Magento stores.
- Identify and fix payment gateway vulnerabilities.
- Optimize Magento payment for speed and reliability.
- Provide payment services under businesses’ brands.
- Offer insights into payment transaction trends.
- Certify Magento payment experts as certified Magento developers.
Magento Payment Gateway is a Must-Have- Which One is Best for You?
Payment gateways and Magento website design services can be the reason for your Magstore’s success. The easier it is to buy from your store, the higher your conversions will be. Your customers want the security of their financial information and an easy and fast purchasing experience.
Key Takeaways:
- Payment gateways are crucial for online stores, influencing customer buy decisions.
- Store owners rely on top Magento developers for choosing secure and cost-effective payment gateways.
- When evaluating payment gateways, consider security, integration ease, pricing, and currency support.
- PayPal, Stripe, Braintree, and others offer unique features for Magento stores.
- The right payment gateway improves the customer shopping experience and boosts sales.
- The 12 unique business ideas included custom integration services and analytics solutions.
- Services like Tekglide help integrate payment gateways in a secure way into Magento stores.
Wrapping up:
This guide lists the nine best Magento payment gateways for secure payments. Different payment gateways have different features, so you must consider which one best suits your business. Tekglide, a Magento development agency provides Magento development services. These services help you integrate any of these payment gateways into your Magento store and receive customer payments.
