Popular Online Payment Solutions You Need To Know About!
Updated: Nov 13
Paypal has been dominating the market when it comes to sending and receiving money. It is considered the de facto online payment solution for online customers, freelancers, and business owners. However, PayPal isn’t the only global payment solution out there. There are plenty of other payment solutions companies that offer the same services and compete with PayPal. We here at the Zed Network specialize in providing companies with global payment processing solutions and payment processing in a complete orchestration layer.
So we know all there is to know about payment processing solutions, and we thought you should know about the most popular options out there to make your decision easier. Here in the following passages, we will list out all the online payment solutions that offer comprehensive payment services. According to Zed Founder and entrepreneur Alan Safahi there some payment solutions that you can find that offer cheaper frees, faster transactions, and have enhanced security. So let’s check them out!
Due is one of the most popular online payment solutions because of its innovative time-tracking and invoicing tools that are perfect for freelancers and small business owners. In addition, you will have access to secure online payments at a 2.7 percent transaction rate. You can even use Due for international payments, and that takes around two business days. Plus, it works as a digital wallet to send or receive money to anyone in the world instantly with little to no cost. There’s even an e-bank where you can store your online cash.
Stripe rose to popularity in the last few years because of its powerful and flexible API. You can fit it according to your needs regardless of whether you are running a subscription-based company or an on-demand marketplace. Stripe easily integrates hundreds of apps, and it is easy to set up and running quickly even if you aren’t a coder. Add to that the lack of setup, monthly, or hidden fees are an added bonus.
Dwolla is an online payment solution that works and PayPal when it comes to transferring funds because of its API. It focuses on bank transfers or Automated Clearing House (ACH) payments that ensure you can create a customized payment solution where payments are received within a day. The best part is that the transactions are free.
Apple might be late to the party, but it’s high time merchants take notice and start to consider using Apple Pay. Apply Pay transactions are faster and more secure because it uses touch ID confirmation. That means customers can use their fingerprints to pay for their pizza. While it is relatively new, there is no cause for worry as it is starting to adapt to support older machines. According to reports, Apple Pay is also working on a P2P payments system within iMessage.
Payoneer is one of the oldest payment processing solutions online. Payoneer offers a wide range of support for its users, and it’s available in more than 200 countries and accepts 150 different currencies. Receiving payments in Payoneer is free, and its flexible API will also grow along with your business. Like PayPal, Payoneer can receive plastic MasterCards as payments if you don’t want to go into digital payments entirely.
2Checkout is one of the most popular online payment solutions out there that you can use to accept credit cards, debit cards, and PayPal globally. It’s available in 87 different languages, offers advanced fraud protection, integrates with hundreds of online shopping carts, and you can automatically bill customers with recurring billing.
Amazon Payments is one of the most secure payment processing solutions out there. If you use Amazon Payments, they will automatically go through Amazon’s checkout whenever there’s a purchase on your site. In addition, with Amazon Payments, customers will be using their own Amazon credentials, making the payment process more convenient and trustworthy.
Square burst onto the scene and made itself known to the market as a viable option with its magstripe reader. It allows business owners to swipe credit cards anywhere for a 2.75 percent transaction fee per swipe. You can also send electronic invoices and even get paid through the Square Cash App.
Payza is a global payment solution that you can use to send money all over the world in a matter of minutes. It has an easy-to-use interface along with a robust and unique security system. You can sign-up for free on Payza, and they offer dedicated support to their users. Along with receiving and withdrawing funds from a bank account and credit card, it also accepts bitcoin making Payza one of the best online payment solutions out there.
Skrill popped up as an alternate online payment processing solution to Paypal in recent years due to the wide range of features. The features that make it popular are:
Instant withdrawals and deposits.
Low transaction fees.
The ability to accept 40 currencies.
Add to that its feature to send text messages directly from your account, making it a versatile option for its users. Skrill also has a referral system where you will get 10 percent of the fees from receiving and sending money into your Skrill account for an entire year if you refer a friend.
Even though PayPal acquired Venmo, there are fundamental principles that are different between the two companies. While PayPal is primarily used for simple transactions for either personal or professional purposes. Venmo, on the other hand, is primarily used by individuals who consider themselves social spenders. Unlike PayPal, Venmo works like a hybrid of PayPal and Facebook, where your transactions are shared on an online feed, so whenever someone on your social circle buys or pays for something, you will see it on your feed.
Previously known as Google Checkout, Google Wallet has become one of the most popular online payment processing solutions in the market. It allows users to send safe, simple, and speedy money transfers from their browser, smartphone, or Gmail account. It also allows you to store credit cards, debit cards, loyalty cards, and even gift cards in your account.
WePay is widely known for its top-notch customer service and fraud protection. Merchants love WePay because it allows customers to make purchases without having to leave their site, thanks to a virtual terminal. In addition, there’s a Know Your Customer collection and risk management option that can be used for invoicing, event ticketing, and marketing automation.
Intuit is considered an indispensable tool for small business owners. You can accept payments both online and in person with the mobile GoPayment credit card processor. Intuit can also assist you with payroll and calculating taxes. It has a few different subscriptions, but the 19.95 package is usually the one that offers the most value. It only charges a 1.6 percent charge for credit card swipes, unlike the standard 2.40 percent rate.
Whenever you make a list of online payment processing solutions, you have to make sure you include Authorize.net. The online payment solution has been operating since 1996, and it is the most widely-used payment gateway. In addition, it has been the recipient of the Achievement in Customer Excellence (ACE) award from 2008 to 2016. With 20 years of operating at a high capacity, Authorize.net has all the features you can need from an online payment processor. Plus, all the company keeps up to date with the latest trends to ensure they provide new features like accepting Apple Pay.
Zed Network offers customers an embedded payments orchestration platform. However, Zed isn’t a payment gateway, acquirer, PSP, bank, Payment facilitator, or network. But, according to Alan, they do have all of the above and more to create a seamless payment experience for our clients and their customers. You elect to utilize ZED for your payment acceptance/collections or mass payouts/disbursements. We provide a comprehensive, turnkey end-to-end solution that is so much more than just payments.
Find The Payment Processor That Fits Your Needs
So there you go; those are the popular online payment solutions out there. Make sure you check them out to see whether or not they fit your need. According to Safahi, merchants often rush into deciding on payment solutions even though that can hamper their operation. So make sure you take your time and check out each payment processor and ask questions if they offer global online payment processing or not and other features that you may need. You can also send in your questions to Zed by either dropping them in the comments below or hitting us up on our socials. So if you have any queries regarding online payment processing and other solutions, don’t hesitate to contact us, and we will help you out. And with that being said, that’s about all we have for you today. We will come back with something new for you soon. Until then, see ya!