Summary
Highlights
The video introduces the top 15 payment gateways for online stores, promising a rating based on fees, setup ease, and features to help viewers choose the best option. The host, Travis, an experienced Amazon and e-commerce seller, aims to reveal the ultimate best payment gateway.
Airwallex is presented as the number one payment gateway, especially for international sellers. It eliminates expensive currency conversion fees by allowing sellers to create accounts with local bank details. It integrates with Shopify, supports over 60 local payment methods, offers low fees (starting at 2.8% + 30 cents per transaction), and accepts all major credit cards and digital wallets. It also includes free bill payments and most international transfers. An exclusive deal for viewers will be revealed at the end of the video.
2Checkout operates internationally in over 200 countries and integrates with many platforms, offering good fraud protection. However, its transaction fees are quite high at 3.5% + 35 cents per transaction, and the admin panel can be complex. High chargeback fees are another con, leading to a C+ rating.
PayPal is widely recognized and trusted. It has no monthly fee but charges 2.9% + 30 cents per transaction. Downsides include micro-payment fees (5% + 5 cents for transactions under $10) and an additional 1.5% for international transactions. Instant bank transfers are offered at 1.75%, which is deemed unnecessary. A major concern is PayPal's tendency to side with customers in disputes and its history of freezing seller accounts, resulting in a C rating.
Amazon Pay offers convenience for customers with Amazon accounts, making purchases easy. However, it's not ideal for those without an Amazon account. Fees are 2.9% + 30 cents, increasing to 3.9% + 30 cents for international payments. It's only recommended if a significant portion of your customers are Amazon users, earning it a C rating.
Authorize.Net is flexible for businesses of all sizes but is not recommended for new sellers due to a $25 monthly fee on top of transaction fees (2.9% + 30 cents). It offers advanced features that might benefit large, established businesses, giving it a B rating despite the high monthly fee for others.
Stripe is a highly popular and versatile payment gateway, offering seamless checkout and integration with all major online store builders. It includes sales analytics, inventory management, and CRM tools. There are no setup or monthly fees, with transaction costs at 2.9% + 5 cents, plus an extra 1% for international payments. Customer support quality can be inconsistent, leading to an A- rating.
Square is common and trusted, charging 2.9% + 30 cents for online payments and 2.6% + 10 cents for in-person sales. Its basic plan is free, and a premium plan is available at $29/month. It's user-friendly for small businesses, offering inventory management and custom invoicing. Advanced reporting and 24/7 support are exclusive to premium members, earning it a B+ rating.
Helium offers cost-effective pricing starting at 2.38% + 25 cents per transaction, with lower rates for higher volumes and no monthly fees, making it suitable for businesses focused on saving money. It provides numerous features like POS integration, recurring billing, and detailed analytics. However, it integrates with fewer websites compared to other options. It gets a B+ rating.
Clover is a cloud-based payment gateway with many features like CRM, analytics, employee tracking, and inventory management. However, its fees (starting at 2.3% + 20 cents) are conditional, and it charges a significant monthly fee ($15-$70), placing it low on the list with a D rating.
Stacks suits high-volume businesses with a subscription model starting at $99/month, plus an interchange fee per transaction. The variable interchange fees, depending on the credit card used, make pricing complex and less predictable, leading to a C rating.
Payment Depot is highly rated for transparent charges and operates on a subscription model with varying fees based on the plan (e.g., $79/month for 15 cents/transaction). It offers a 90-day risk-free trial and is designed for high-volume businesses. Despite the trial, the monthly fees generally make it less appealing, resulting in a B rating.
Payoneer is not recommended due to high fees and limited platform integrations (C rating). Ayden is suitable for medium to large businesses but lacks unique advantages (C rating). BitPay is excellent for cryptocurrency payments with a 1% fee but doesn't accept credit cards. It's a niche option and receives a B rating.
After analyzing all options, Airwallex is declared the clear winner as the best payment gateway. It's praised as a complete financial platform for global Shopify businesses, offering a free global business account, fast international payments (90% within the same day), and avoidance of costly Swift Network fees. It provides multicurrency expense cards, efficient bill payment systems, and expense management tools. Airwallex integrates seamlessly with Shopify, Zero, QuickBooks, Amazon, and other platforms. A special deal for viewers is available via a link in the description.
Braintree, operated by PayPal, is a trustworthy option with competitive fees of 2.9% + 30 cents per transaction, although still higher than Airwallex. A significant con is its high chargeback fee of $15. It's best for tech-savvy business owners due to its extensive development tools but might be too complex for new businesses, earning it a B rating.