The payment industry is evolving and is changing faster every day. Currently, there are various payment methods that you can find on the market. All these business payment tools have different features which inspire the question: Which one suits your business best?
To choose your preferred payment method, you have to consider the type of business you are running, the number of transactions, budget, advanced security aspects, various currency support and other factors. The methods highlighted below are beneficial for small businesses.
1. PayPal
The popularity of PayPal is quickly expanding as an online payment method. It allows entrepreneurs a way of accepting credit card and debit card payments without paying high transactional fees or partnering with a credit card processing organisation.
PayPal offers business and personal accounts, a revolving line of credit, business loans and debit and credit cards. You can get payment in any currency through PayPal — PayPal will do the currency exchange at a small fee. Additionally, PayPal accepts payments in cryptocurrency.
2. Authorize.net
This payment software allows both domestic and international transactions for small businesses. You could accept all main credit cards as well as debit cards, e-checks and digital payment tools (PayPal, Apple Pay and Visa Checkout). If your business requires credit card processing, EMS Corporate can do this at affordable fees.
Authorize.net also features a free fraud prevention and security tool, automatic recurrent billing and can sync with QuickBooks. The software has no hidden or annual fees; however, there is the $49 fee for setup, $25 gateway fee, and $0.30 plus 2.9 percent for every transaction. Although it may look expensive to use this program, it offers maximum security.
3. Checkout.com
This program aims at worldwide payment acceptance and offers a secure and compliant system for your business transactions in any country across the globe. Checkout.com allows both mobile and online transactions for payments. The program features multiple currency and language alternatives, fraud protection, recurrent billing and a hosted checkout.
4. Braintree
Braintree provides expertise in payments as well as various payment alternatives like Android Pay, Venmo, Bitcoin, Apple Pay, debit and credit cards. There are zero fees for inactivity, refunds or failed transactions. When you hit $50,000 in your account transactions, you only pay a transaction fee of 2.9 percent and $0.30.
5. Dwolla
This program allows customisation of the way you receive or make recurring payments. The user can create a free account that has no transaction fees. However, Dwolla only will enable payments or transactions in the US alone.
6. PayXpert
PayXpert works in over forty currencies. They also work with one hundred and fifty solutions for payment. This system has features such as mobile and online payments, processing of credit cards, virtual terminal and encryption of data. It has a 1.5 per cent transaction rate, which depends on the organisation’s volume and risks.
The above are some of the payment tools which provide processing of global payments and credit cards and payments in cryptocurrency. As your business grows, you might have to look for a long-lasting solution for your business payment needs.
