The advent of e-commerce has pushed businesses to adopt new and innovative models. One of the biggest facets that have seen a transformation is in the payment mechanism. In the earlier days, businesses depended on traditional payment methods. While they were reliable, they weren’t efficient enough to handle the flow of business generated by online sellers.
This was transformed by the introduction of different online payment gateways that processed payments much easier. Along with ease in processing, these payment gateways made online payments accessible, secure, and much easier to use. Thanks to these innovations, payment gateways spearheaded a rapid transformation of e-commerce across the globe.
So, what is a payment gateway?
To understand API payment gateway integration by businesses, one must understand what APIs are. API or an application programming interface can be defined as a set of software components that facilitate seamless and easy communication among different software applications. They facilitate developers to enhance different applications by adding and integrating different features into applications to ensure a better digital experience.
An API payment gateway integration can help businesses integrate a trustworthy payment system from a well-known network onto their existing digital application. This integration is a much more reliable alternative to the otherwise overused hosted checkout pages used commonly across different e-commerce businesses.
Through the API payment gateway integration, businesses can ensure customers complete their purchases while staying on their website. The process of enabling a complete payment experience on the website itself makes the entire process smooth and seamless.
What are the core features of payment gateway APIs?
Software developers will agree that API payment gateway integration helps improve the online experience for customers, making sure online payments are processed faster without losing control of the interface. APIs allow businesses to control the user experience from the very start and can help businesses in having the required payment information to deliver it to the provider to execute the transaction. Here are a few core features of different payment gateway APIs:
- API design
- API security
- API functionality
- Detailed documentation process
- Ease of use
- Advanced fraud protection
- Seamless integration across platforms
- Reliable support
- Detailed reporting
How does a payment gateway work?
To understand how a payment gateway works, here is a step by step explanation of the train of processes that take place:
- Customers add different products or services that they intend to purchase onto the cart
- Upon adding the required items to the cart, they proceed to the payment page
- On the payment page, the customer must provide details of their debit or credit card along with other information that includes, expiry date, CVV, and the name of the cardholder
- This information once submitted is passed onto the payment gateway securely.
- The information is encrypted by the payment gateway and sent to the acquiring bank
- This information is then passed on securely to the card schemes like Rupay, Visa, or Mastercard among others.
- The card schemes add another layer of security check and send this information to the issuing bank.
- Here, the issuing bank performs a security and fraud check before they authorize the transaction.
- This status of approval is sent back to the card schemes from the bank and then onto the acquirer.
- This message is then passed on by the acquiring bank to the payment gateway who send it to the merchant
- When the payment is successful, the acquirer collects the designated amount from the issuing bank and keeps the funds in the merchant’s account.
- The merchant displays the message from the payment gateway to the customer
While these steps may seem onerous, having a reliable API payment gateway integration facilitates these steps in a matter of seconds. It also ensures that the customer is not left waiting for long by providing a smooth and seamless experience.
What are the factors to consider while choosing a payment gateway?
Choosing the right payment gateway is a lengthy and tedious process for any business. The payment gateway is one of the final steps of the customer experience and needs special attention and care. Businesses must choose a payment gateway that offers a secure, fast, and smooth experience. This also facilitates the building of invaluable trust among customers.
Here are four factors that every business must consider before selecting the right payment gateway:
Security
Security for a payment gateway is of paramount importance. Businesses must check if the gateway meets all the required standards with integrated 3D security and comply with all the PCI data security standards.
Ease of integration
Integration is crucial as it must be simple with reliable online and offline support. A good payment gateway always resolves any issue without any hassle.
Multi-currency
A true testament to global business is how they facilitate different payments and currencies seamlessly. Every business owner must ensure that their payment gateway processes payments in different currencies.
Payout time
Every business must look at the payout time a gateway is asking for. The timeframe has to be reasonable and must always be checked before integration to avoid any confusion in the future.
What are the different types of payment gateways?
Businesses today have adopted payment gateways as their primary means of processing payments. This is due to instant payments, security, credibility among merchants among other factors. To further understand payment gateways, here are the different types of payment gateways:
- Hosted payment gateways
- Self-hosted payment gateways
- API hosted payment gateways
- Local bank integration
Having looked at what API payment integration is, how it works and its core features, let us now look at some of the best payment gateways that are available in the market:
Stripe API
Stripe API is a cloud payment gateway platform that facilitates payment transactions from anywhere in the world. By providing a complete solution to enable the processing of online payments, Stripe API is one of the best API payment gateway integration a business can opt for. It also brings with it myriad features that include the likes of consolidated reports, embeddable checkouts, custom UI toolkit among others.
By providing both a cloud-based payment gateway platform and an open API that can be integrated easily, Stripe offers a robust payment gateway ecosystem that ensures smooth transfer of funds with unparalleled security.
Key Features
- Mobile customer interface
- Multi-currency payouts
- Clean canvas
- Collaboration notes
- Payment options
- Embeddable checkout
- Authorization
- Custom UI toolkit
- Dispute handling
- Open-source plugin
- Consolidated reports
- Accounting integrations
- Unified payout
- Financial reporting
- Roles and permissions
Pricing
For pricing details, one must contact the provider directly.
Free trial
Stripe API does offer a free trial to its users.
Reviews Unplugged
Pros
- Stripe API takes is very secure and the software takes its privacy very seriously.
- Stripe also provides exemplary support through forums, making it easy for developers to integrate the service.
- Stripe is a very business-friendly tool that can help businesses analyze their sales and put up dynamic offerings.
Cons
- Stripe API is hard to implement and needs domain expertise on the team to get it done.
- There is a steep learning curve involved with the API, its integration, and its daily use cases.
- It is also time-consuming and arduous to set-up.
Website
For more details, visit: https://stripe.com/en-in
Square API
Square is a full-stack payment gateway that brings together gateway functionality with third-party processing. Over the years, Square has built its reputation across different e-commerce and brick and mortar businesses. It also brings numerous add-on features like loyalty programs, marketing, loans, inventory, productivity among others.
API payment gateway integration through Square API offers a one-stop-shop approach ensuring merchants get everything that they are looking for on the proprietary ecosystem.
Key Features
Square API has numerous features that include:
- Full sandbox environment
- Interactive API explorer
- Live event monitoring
- Backend SDKs: PHP, Ruby, Java, .Net, Python, Node
- Secure payment SDKs: iOS, Flutter, Android, React Native
- Create and track orders
- Manage the product catalog
- Adjust inventory
- Organize employees and customers
Pricing
For pricing details, one must contact the provider directly.
Free trial
To find out about the availability of a free trial, one must contact the provider directly.
Reviews Unplugged
Pros
- The software is very versatile and helps small and new businesses with affordable costing.
- Integration is smooth, and the learning curve is not too steep either.
- The transaction fee by Square is very friendly and not aggressive for smaller companies.
Cons
- The application asks for the password every time there is a time-out.
The transaction fee keeps fluctuating too often, making it difficult for businesses.
Website
For more details, visit: https://developer.squareup.com/us/en
Paypal
Paypal is often touted as an e-commerce payment platform giant. The platform is designed to facilitate companies and people to send and receive payments without disclosing any financial information. The platform is one of the biggest in the world wherein it allows two individuals to transfer payments just through their e-mail addresses instantly. Moreover, Paypal boasts of one of the most extensive and widespread networks in the world where it operates in 203 countries and supports different cards like American Express, Citibank, Visa, Mastercard among others.
Key Features
The features of Paypal include:
- PCI compliance
- Inventory tracking
- Shopping cart
- Virtual terminal
- Credit card reader
- Express checkout
- Mobile card reader
- Barcode scanning
- Online invoicing
- Bill me later
Pricing
Pricing for Paypal starts at $0.04.
Free trial
Paypal does not offer a free trial.
Reviews Unplugged
Pros
- Navigation through Paypal is simple, easy and fast with almost no wait-time.
- Paypal has a minimal and intuitive user-interface, making it a treat to work with.
- Paypal makes the entire process of sending money, invoices, getting paid extremely easy.
Cons
- The credit card statements are difficult to read, with payments, charges, and everyday fees difficult to comprehend.
The customer service is very hard to reach, making it difficult to resolve any issues.
Website
For more details, visit: https://www.paypal.com/in/home
Adyen API
Adyen API is one of the most common payment gateways in the market that is used extensively by companies like Spotify, Uber, and Microsoft among others to manage their customer and business transactions. Through its API payment gateway integration, it lets one accept payments made to a company through a single platform along with having numerous tools at its disposal. Moreover, Adyen is known for accepting over 250 different payment methods in more than 150 global currencies.
Key Features
Features of Ayden API include:
- Global acquiring
- Different key payment methods
- Risk management
- Revenue optimization
- Customer insights
Pricing
For pricing details, one must contact the provider directly.
Free trial
Ayden does provide a free trial for its users.
Reviews Unplugged
Pros
- It is easy to personalize the platform by setting your own rules.
- It is also very easy to know the status of transactions, and the actions that need to be taken.
- It is very easy to set up and supports all forms of payments and cards.
Cons
- It is not convenient for small businesses to use Ayden, as it is designed for companies that process numerous transactions.
- The risk detail session inside the transaction tab is not as detailed as one would like.
The reporting tools need to be developed and refined further.
Website
For more details, visit: https://www.adyen.com/
Paymill
Paymill has built its reputation as one of the top API payment gateway integration organizations in Europe. Paymill facilitates payments through different modes helping companies scale internationally from the very beginning. Through Paymill’s API payment gateway integration, businesses can be assured of having the best in class security measures too.
Key Features
Paymill has a list of extensive and convenient features that make it secure and easy to use for online payments. They include:
- Global availability
- Easy integration options
- Subscription, mobile, and web payments
- Extensive payment methods
- Integrated payment analytics
- Built-in fraud prevention
Pricing
Pricing plans for Paymill start at $5.37 per month.
Free trial
Paymill does not offer a free trial for its users.
Reviews unplugged
Pros
- Paymill is seamless to use and its features and functionality are extensive.
- The success rate of processing payments is exceptional for Paymill.
Cons
- The support is erratic and unresponsive at times.
The integration and payouts have been glitchy recently.
Website
For more details, visit: https://www.pay-mill.com/
BlueSnap
BlueSnap is regarded as a global payment gateway owing to its universal payment network, and in helping, businesses accept payments from across the globe. With a network of over 30 acquiring banks, BlueSnap is a highly secure software that has its fraud prevention system in place. Operating in over 180 countries, BlueSnap supports 100 different currencies, 110 different payment types, and 29 languages making it one of the most global API payment gateway integration a business can opt for.
Key Features
BlueSnap hosts numerous features that include the likes of:
- Intelligent payment routing
- Marketplace payments
- Subscriptions
- Multi-currency reporting
- Hosted solutions
- Hosted fields
- 3-D Secure and PSD2 compliance
- Integrated payments
- Invoice payments
- Cross-channel payments
- 30+ global acquiring bank connections
- Embedded checkout
- Easy data migration
- Multi-currency payouts
- Secure acceptance web/mobile
- Payment API
- Managed risk services
- Virtual terminal
- Payment tokenization
- Consolidated reports & analytics
- Mobile apps & SDKs
- Direct debit and bank transfers
- Payment optimization
- 3rd-Party payment plugins
Pricing
For pricing details, one must contact the provider directly.
Free trial
To find out about the availability of a free trial, one must contact the provider directly.
Reviews Unplugged
Pros
- The API is very easy to set up and integrates seamlessly with the system.
- The processing rates for BlueSnap are reasonable, even for small and mid-sized companies.
- The customer support is responsive and the account establishment process is automated and seamless.
Cons
- The refund policy is time-consuming and onerous to complete.
- The conversion rate of BlueSnap is low in comparison with the other providers.
There are many adjustments that one cannot make themselves and are forced to take the help of the support team.
Website
For more details, visit https://home.bluesnap.com/
Braintree
A part of the PayPal network, Braintree is designed with the primary objective of making payment processes easier. It also offers numerous tools and plugins to help companies scale their businesses worldwide. Moreover, Braintree operates in 40 countries, with support for over 130 different currencies. Braintree is also known for its sleek UI that supports numerous cards and facilitates secure and fast payments.
Key Features
Braintree’s features include:
- Drop-in UI
- Supports 130 currencies
- 24*7 support
- Customized checkout workflow
- 2-day payout
- Dynamic control panel
- Braintree value
- Easy data migration
- Guaranteed uptime
- Advanced fraud protection
- Easy repeat billing
- Encryption
Pricing
For pricing details, one must contact the provider directly.
Free trial
To find out about the availability of a free trial, one must contact the provider directly.
Reviews Unplugged
Pros
- Braintree is good for companies of all sizes, owing to how easy and seamless it is to integrate.
- The fees are reasonable and vary based on the volume dynamically.
- The application is safe and offers many options for its users.
Cons
- At times there is a slight delay in receiving the payments.
The record-keeping functionality is not as transparent as one would like.
Website
For more details, visit https://www.braintreepayments.com/
WePay
WePay is known for its integrated payment gateway that supports point-of-sales and web-based requirements of different software platforms. It also supports distinct Omni-channels. WePay is also known for applications to have efficient, fast, and secure processing and onboarding.
WePay also allows users to personalize their online platforms based on their pricing structure and brand guidelines. Additionally, WePay allows direct referral functionality ensuring users get complete control over enabling and facilitating payments.
Key Features
Features of WePay include the likes of:
- Excellent support
- Complete payment risk coverage
- POS solution to boost sales Custom UX
- Quick onboarding
- Fast and simple integrated payments
- Intuitive account provisioning
- Mobile point-of-sale
- Funds settlement
- Transaction-level reporting
- High-level PCI security
- Tokenization
- Compatibility with Apple Pay and Android Pay
- Direct bank transfers
- Risk API
Pricing
For pricing details, one must contact the provider directly.
Free trial
WePay does offer a free trial to its users.
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Pros
- Unlike other integrations, WePay allows daily transfers of funds directly to the bank account.
- The application also helps run reports to reconcile payments with the respective invoice numbers.
Cons
- It is difficult to reach out to customer service to resolve any issues.
- The application randomly holds on to the payments for myriad reasons.
Website
For more details, visit https://go.wepay.com/
Payoneer
Payoneer is another API payment gateway integration that companies can opt for. It also has a multi-currency virtual account that facilitates e-commerce sellers to receive funds from different payment gateways into their accounts. Payoneer also allows for companies to receive payments from anywhere in the globe through their global payment service.
Key Features
Here are Payoneer’s features:
- Single Payout
- Receive Payments
- Mass Payouts
- Funds Withdrawal
- Partner Network
- Integrated Payments
- Multi-Currency Support
- Escrow Payments
Pricing
For pricing details, one must contact the provider directly.
Free trial
To find out about the availability of a free trial, one must contact the provider directly.
Reviews Unplugged
Pros
- Payoneer is one of the fastest money transferring software in comparison with the other solutions.
- The charges on payment transfer are reasonably affordable.
- The customer interface is seamless and the features are very easy to use and organized.
Cons
- The payment delivery is erratic and unreliable.
- The application cannot be used to receive funds from a personal account.
The platform layout is very buggy.
Website
For more details, visit https://www.payoneer.com/
Razorpay
Razorpay is a powerful payment gateway for businesses of all sizes. With instant activation and easy integration, Razorpay offers a plethora of advantages from offering a dashboard that lets one see real-time data to different payment methods that can be integrated in seconds. Thanks to its extensive nature, Razorpay has customers from big business names to freelancers and self-employed professionals too.
Key Features
Here are a few features that Razorpay has to offer:
- API driven automation that requires zero manual intervention
- 100+ payment modes
- Dashboard facility to check real-time data
- Easy integration
- Invoice payments
- Integration with the website for payment
- 24/7 support
- Save saving facility
Pricing
For pricing details, one must contact the provider directly.
Free trial
Razorpay offers a free trial.
Reviews Unplugged
Pros
- Razorpay is one of the easiest and most modern ways to process and collect payments.
- The application allows users to create smart pages that are very smart and professional.
- The API documentation is very comprehensive, and the UI is modern and appealing.
Cons
- The customer service is not up to the mark.
- The application does not support custom webhook for different payment pages.
- The application also does not support payment chargeback.
Website
For more details, visit https://razorpay.com/
Easebuzz
Easebuzz offers API payment gateway integration for businesses along with multiple value-added services. With a host of clients from big businesses to freelancers, Easebuzz adds value by handling complex payment solutions with ease. This includes handling vendor payments, split payments, recurring payments, and other services that help businesses to scale in the digital landscape.
Key Features
Here are Easebuzz’s key features:
- Zero annual maintenance fees
- Best in class transaction fees per transaction
- Quick set-up time
- Vendor payments
- Application form (CMS) for collections
- Smart payment links
Pricing
For pricing details, one must contact the provider directly.
Free trial
To find out about the availability of a free trial, one must contact the provider directly.
Reviews Unplugged
Pros
- Easebuzz has a customer base ranging from Start ups, SMEs and Enterprises.
- Provide great support, easy and fast integration.
- Best possible features to keep track of all the payments.
Cons
- Does not support international payment gateways.
- Payment gateway TDR rates are slightly higher than other payment gateways
Website
For more details, visit https://easebuzz.in/
SecurePay
SecurePay is one of the leading online payment gateways that offer different payment solutions for organizations and businesses of all sizes. Regarded as the leader in the payment industry in the Australian market, SecurePay has helped over 40,000 businesses with their e-commerce needs. With different payment choices like MasterCard, Visa, Diners Club International, American Express among numerous others, SecurePay can help businesses convert more sales by helping customers with their online purchases.
Key Features
Here are a few features of SecurePay:
- Australian bank support
- Online payments
- PayPal support
- Secure payments
- Detailed reporting
- Shopping carts integration
Pricing
For pricing details, one must contact the provider directly.
Free trial
SecurePay does offer a free trial for its users.
Reviews Unplugged
Pros
- The application is very user-friendly, with the learning curve being moderate even for non-technical personnel.
Cons
- One cannot print the custom reports that the application generates.
Website
For more details, visit https://www.securepay.com/
Authorize.net
Autorize.net is another global payment gateway that boasts of having strong security and infrastructure to facilitate fast, secure and smooth transfer of transactions. Through its API payment gateway integration, it also handles the routing of transactions, similar to the card swiping machine. With a merchant base of over 3,70,000 across the globe, Autorize.net is a fully integrated electronic payment system that hosts numerous value-added features ensuring a streamlined process for customers.
Key Features
Autorize.net has numerous features that include the likes of:
- E-check processing
- Retail payment
- Virtual terminal and batch upload
- Mail/phone payment
- Recurring billing
- Customer information manager
- Sync for QuickBooks
- Advanced fraud detection Suite
Pricing
Pricing plans for Authorize.net starts at $25 per month.
Free trial
Authorize.net does not offer a free trial.
Reviews Unplugged
Pros
- The customer service has been consistently great, resolving all the issues instantly.
- The application is very simple to use and offers stability on every front.
- The application enables setting up recurring payments and allows for syncing with a webmaster.
Cons
- The UI is extremely outdated, both in terms of looks and functionality.
- The invoices that are generated lack the professional aesthetic that one would desire.
- Navigating around the application is consistently difficult and arduous.
Website
For more details, visit https://www.authorize.net/
Amazon Pay
Amazon Pay is a payment gateway that is designed keeping in mind the shoppers and merchants of Amazon. Needless to say, it is a secure, fast, and easy payment solution that helps merchants across 8 different countries. It also enables shoppers to log in and pay, while merchants get to pay with Amazon. This enables a smooth shopping experience for everyone. Moreover, Amazon Pay is loaded with numerous features that encourage shoppers to continue their shopping experience and other tools to improve customer engagement with different loyalty programs.
Key Features
Features of Amazon Pay include:
- Improved conversion rates
- Transaction-based fees
- Streamlined purchasing process
- Retail-first
- Inline Checkout
- Automatic Payments
- Fraud Protection
- Merchant Website Integration
Pricing
For pricing details, one must contact the provider directly.
Free trial
To find out about the availability of a free trial, one must contact the provider directly.
Reviews Unplugged
Pros
- Amazon Pay is seamless and quick when it comes to processing payments.
- The application is also accepted by numerous merchants across the world.
- Amazon Pay offers a plethora of offers and benefits, making it enticing to use the service.
Cons
- The processing fee is higher in comparison with the other service providers.
- The application has a low rate of adoption making it difficult for self-troubleshooting.
Website
For more details, visit https://pay.amazon.com/
Conclusion
Needless to say, an API payment gateway integration is extremely beneficial for businesses, especially in the growing digital landscape. But before a business chooses the payment gateway of their choice, it is imperative for them to dig deeper to find all the capabilities of a provider and how they match up with what the business is offering. Keeping one’s developers and their strengths in mind, a business can choose the best API payment gateway integration that can spearhead it to the next level.