Payment gateways are responsible for transmitting data between the different parties involved in the payment process.
Every day, this technology is allowing millions of transactions to take place around the world, helping merchants to authenticate different payment methods in seamless fashion.
Here, FinTech Magazine takes a look at the top 10 payment gateways.
10. Square
Founded in 2009, Square set out to change the fact that not all businesses could accept card payments and invented the first mobile card reader of its kind.
By doing so, merchants were able to take payments anywhere and thrive in what were difficult economic circumstances following the financial crisis.
Fast forward to 2024 and Square’s extensive technology platform is allowing business owners to work more efficiently, pay employees, manage inventory, communicate with customers, book appointments, order online and so much more.
9. Adyen
Adyen was established in 2006 by a group of entrepreneurs who wanted to build a platform capable of meeting the rapidly-evolving needs of today's fast-growing global businesses.
Today, it is the fintech platform of choice for many of the world's leading companies, working with the likes of Meta, Uber, H&M, eBay and Microsoft.
By providing end-to-end payments capabilities, data-driven insights and financial products in a single global solution, Adyen is providing the tools necessary to create seamless payments, scalability and consumer journeys.
8. Braintree
Braintree provides the global commerce tools required for people to build their businesses, accept payments, minimise security concerns and expand globally.
The firm has become a leader in mobile payments thanks to its belief that payment technology is key to driving innovation and boosting revenue.
Using Braintree, merchants in almost 50 countries and territories worldwide can accept, split and enable payments in more than 130 currencies. As a PayPal service, it enables merchants to accept PayPal, Venmo and credit or debit cards in a single integration.
7. Helcim
Helcim gives Canadian and American businesses the opportunity to accept credit card payments at affordable and transparent rates.
The business prides itself on offering a fair pricing structure, laying the foundation for the creation of long-term relationships with merchants, clients and partners.
On average, small businesses are said to save 25% by using Helcim, according to its own figures.
With its wide range of online, e-commerce, cloud-based, mobile and retail payment platforms, Helcim is well positioned to offer a total payments solution.
6. Authorize.net
Authorize.net has been a leading provider of payment gateway services since 1996, managing the submission of billions of transactions to processing networks on behalf of merchant customers.
A wholly-owned subsidiary of Visa, the firm makes payment processing a simple, low-stress part of doing business, thus optimising cash flow.
Having built up relationships over the course of almost 30 years, today Authorize.net is trusted by more than 430,000 merchants, handling more than a billion transactions and US$149bn in payments every year.
5. Verifone
Verifone bills itself as a payment architect, shaping ecosystems to enable powerful online and in-person commerce experiences for consumers and merchants around the world.
The company started out as a pioneer in cashless payment, securing checks and credit cards through digitisation, and has continued to pursue a policy of innovation as it enables more than 10 billion secure transactions per year.
These days, Verifone’s attention has turned to software applications. Its goal is to make omnichannel commerce simple for merchants, delivering a consistent brand experience on a unified digital platform.
4. Stripe
Headquartered in both San Francisco and Dublin, Stripe is billed as a financial infrastructure platform for the internet.
Millions of companies around the world, from large enterprises to ambitious startups, are using Stripe to accept payments, send payouts, automate financial processes, accelerate new business opportunities and, ultimately, grow their revenue.
Stripe capabilities are available to businesses in almost 50 countries, while more than 135 currencies and payment methods are supported.
At least 100 leading enterprises process in excess of US$1bn annually using the Stripe platform.
3. Skrill
Headquartered in London and with offices throughout Europe and the US, Skrill provides digital payments solutions to consumers and businesses around the world.
Customers are empowered to make payments when and how they want to, while Skrill’s business solutions let companies of all sizes trade in a global marketplace.
Tens of millions of account holders trust Skrill to bring all their payment options together in one place, allowing them to send and receive money conveniently and with confidence using 40 currencies in almost 200 countries.
Skrill is part of the Paysafe Group, a global provider of payments solutions created in 2015 when Optimal Payments acquired Skrill Group.
2. Amazon Pay
Amazon Pay allows customers to enjoy the convenience and security of Amazon wherever they shop, offering a simple way to manage payment methods and checkout.
The technology is available to anyone with an Amazon account and can be used with any retailer displaying the Amazon Pay option at checkout. By clicking the relevant icon, buyers can check out using payment information already stored in their account.
All this makes for a swift, safe, secure and straightforward experience, with no need to create a new account or remember old passwords.
Being able to offer the familiarity of an Amazon-related service is a big plus for merchants considering or already using Amazon Pay.
1. PayPal
With a legitimate claim to being the original digital payments platform, PayPal is recognisable around the world and continues to champion possibilities for everyone by making money management fast, easy and more enjoyable.
For decades, the firm has delivered a product ideally suited for small businesses, online merchants, individuals and others who are underserved by traditional payment mechanisms.
PayPal’s central hope is to unlock opportunities for people in their everyday lives and empower the millions around the world who trust, rely and use its technology.
At present, the organisation is on a mission to revolutionise e-commerce using AI, and recently unveiled no fewer than six innovations that the company is piloting and bringing to market this year.
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