Online Payment Options for Startups

24/09/2021

In today’s digital ecosystem, online businesses can prove to be a profitable enterprise for many organizations. For many startups, owning a digital space can help them reach new customers across a wider platform. It allows them to nurture and grow their business to even greater heights.

While building an online business platform, it’s important to make it accessible and attractive enough to bring in sales. Having a flexible system for collecting online payments is also essential. After all, what good is having an online business if you cannot collect revenue from it?

Online payment mechanisms should ideally be easy to use in order to provide the best experience for businesses and their customers. For online payments, be it integrating with a bank’s payment gateway or through a third-party gateway, the goal remains the same – to have a key channel for smooth revenue flow. However, for startups, it is often difficult to keep up with the setup and transaction fees that usually come with using a bank’s payment gateway. As a result, another option could be to opt for third-party gateways. They also process debit and credit cards and allow net banking like banks. Various other options, such as digital wallets and UPI, are also available for use. These offer a diverse range of options for accepting payments – you can find a platform that covers almost every online payment method.

There is no doubt about the advantages of using such a system for your startup. Here are ten popular online payment options that you can consider using for your online business.

Checkout by Amazon

Checkout by Amazon is a one-click payment gateway powered by Amazon Marketplace Web Service. Using this system, your e-commerce store submits orders to Shipwire via the Order Entry API. Once the order is confirmed, Shipwire handles the rest. It catalogs all tracking information for completed shipments. It allows you to check inventory status as per your needs, be it locally, globally, or even per warehouse. This makes it easier to log payments and ship products based on estimated availability.

Paytm

As one of India’s largest payment gateways, Paytm is currently available in 11 local languages. It has a wide range of use, including bill payments, travel expenses, grocery shopping, and other in-store applications. Because of its ease of use on mobiles, thanks to its QR code payment system, it is the payment gateway of choice for over 7 million businesses across the country.

Google Pay

Both a digital wallet and an online payment gateway developed by Google, Google Pay allows easy one-tap payments for purchases on android phones, tablets, and even watches. The service allows businesses to add the same payment gateway to their website and personal store apps as well. Users can access pre-existing payment details through Google sync, making it very easy to use. It supports coupons, ID cards, event tickets, etc. It is a multi-tiered platform that offers ease and flexibility.

PayPal

Well known as an international online payment support system for online vendors, PayPal’s global reach and ease of use makes it a popular choice across the globe for sellers. In exchange for an initial setup fee, PayPal’s payment gateway allows businesses to give their customers easy one-click transactions for all their needs.

Square

More than just a standalone payment gateway, Square offers a broader end-to-end ecommerce solution for online businesses. Providing a versatile software solution that is compatible with a range of devices, Square gives sellers the ability to easily read credit card data with a smart device. It is a combined and simplified platform that accepts and collects payments. It also helps you manage your business through a single centralized system.

Amazon Pay

Offering a seamless payment experience through one-click payments and stored card details, Amazon Pay is the perfect digital payment system for sellers in the store. By being able to process standard payment methods, EMIs, and Amazon Pay balance from previous transactions – it offers a huge range of payment methods that also incentivizes customers with additional rewards and benefits.

Dwolla

Dwolla is a simple payment gateway – one that transfers money directly from a customer’s bank account to that of the seller. However, it offers a fully integrated and programmable payment infrastructure that helps you connect to accounts and move funds with only a few simple steps.

Stripe

Stripe is one of the leading online payment solutions for big businesses like Amazon. As a cloud-based system with a strong focus on security and scalability, it is tailored to work specifically with business applications and websites for maximum efficiency. Capable of addressing both simple and complex payment requirements, Stripe is the go-to choice for a payment solution that requires flexibility and quality.

Paystand

With Paystand, you’ll never have to worry about transaction fees ever again. With a clean payment gateway that is suited perfectly for B2B payments, businesses and customers can transact faster with greater efficiency that too without paying high transaction fees.

TakePayments

Specializing in helping small businesses in the UK for over 25 years, TakePayments provides customized payment gateway solutions for businesses. By leveraging the skills of their special consultants, they help to make card payments simpler based on your business infrastructure. Easy to set up, affordably priced, and flexible to a tee, TakePayments is a go-to choice for sellers to consider.

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