A payment system helps businesses accept payments in person or online. But choosing the right payment system can be challenging as the transaction fee, features, and pricing differ. Moreover, the market is saturated with such tools. So, to ease the decision-making process, one should explore and compare some of the best online payment systems. This will help users find an option that meets their needs and aligns with their budget.
Authorize.Net
This online payment system excels in fraud prevention, courtesy of its Advanced Fraud Detection Suite. Authorize.Net leverages the information from years of transaction processing experience. Their fraud detection suite includes 13 fraud filters that can be tailored to the business’s needs. Based on this personalization, the users can set geographic limitations, minimum transaction thresholds, and payment velocity settings. This gives the platform better control over transaction authenticity. The Advanced Fraud Detection Suite is suitable for all businesses, regardless of their size. So, Authorize.Net is an ideal online payment system for reducing fraud-related losses.
Moreover, the platform appeals to businesses because of its flexibility and transparency. Its pricing starts at $25, and Authorize.Net offers two types of plans.
- Gateway only
- All-in-One
Businesses can choose the plan that best meets their requirements. The latter requires a merchant account, whereas the former is suitable for businesses that already have an account. In both these plans, there are no setup fees, and the cost per transaction is reasonable.
Digital invoicing, recurring payments, and the account updater are some features this platform supports. These attributes go beyond payment processing and provide businesses with flexible tools to facilitate customer transactions.
Stax Payments
It is a scalable, low-cost payment gateway. To use Stax Payments, merchants must bear a per-transaction cost and a monthly fee. That said, the tool does not charge any markup on the interchange fee.
Stax Payments charges $0.08 per swipe transaction and a $0.15 keyed transaction fee. The platform offers invoicing benefits with the help of QuickBooks Online, which simplifies businesses’ accounting. This makes it one of the most popular online payment systems.
Another benefit of Stax Payments is that businesses do not have to spend a penny more for functions they do not use. With optional packages and add-ons, users will only pay for the attributes they need. These are some examples of extra features offered in the costlier packages.
- Enhanced dashboards
- API key integration
- Accounting reconciliation synching
- Dedicated account manager
Overall, Stax Payments is an excellent solution for growth-oriented enterprises and businesses with a high sales volume of more than $5,000 per month. Smaller merchants can start with low, predictable pricing and add more features as their business expands.
Payline Data
It is the perfect tool for subscription-based businesses. The online payment system offers a variety of features designed to meet the unique needs of the specified models. Payline Data can handle the fundamental aspects of subscription services, such as invoicing and recurring billing. By automating these processes, businesses can streamline their operations and reduce the administrative burden.
In addition, Payline Data offers advanced Developer Docs and API features. These let enterprises access tailored integrations with third-party or native software. Such flexibility can be helpful for subscription-based companies that desire specialized tool integrations to optimize their functions.
This online credit card payment system also includes a Virtual Terminal and Dashboard that offers a centralized location to keep a tab on different payment tasks, such as sending invoices, keying in transactions, saving customer profiles, and viewing reports. These are all crucial features for businesses that regularly receive customer payments.
Payline Data also offers a secure transaction environment with tokenization and modern encryption. These measures keep the user and their card data secure. Such security measures are necessary for subscription-based businesses, as they handle sensitive customer payment details. The starting price for this online credit card payment system is $10 per month.
Shopify
Shopify supports businesses of all sizes and types, making it suitable for e-commerce ventures, whether they are established brands or startups. Its scalability and suite of e-commerce features and tools make it a great startup payment system. It also offers flexible personalization options for online stores.
The platform centralizes all its e-commerce activities, making the store accessible from anywhere in the world. It also makes business management more straightforward. Additionally, Shopify caters to software upgrades and server maintenance to make business operations less complicated and more accessible for users.
The tool enables easy scalability by offering a range of products and services that enhance business capabilities on its platform. Its solutions give independent entrepreneurs a market edge. Shopify provides access to APIs and development tools for those seeking more customization. This allows businesses to personalize their online stores precisely to their needs, improve customer experiences, and enhance functionality. The App Store broadens these options by offering numerous third-party apps to elevate the e-commerce experience.
Entrepreneurs at any stage of business development can use Shopify to launch, manage, and scale their e-commerce ventures. It offers a blend of convenience and customization, making it versatile. Social selling is available for $5 per month, while online store plans start at $29 per month.
