Best Magento Payment Gateways in 2022 — Baniwal Infotech
If you can’t decide which Magento 2 payment gateway to use or want to know more about the integration process, you’ve come to the right place! Based on our experience and industry standards, we picked the best payment gateways for an online store.
Payment Gateways Supported Out-Of-The-Box
By default, Magento comes with several integrated payment gateways. They are the best choice for new store owners since the setup process is much easier.
#1 PayPal
PayPal is undoubtedly the first payment gateway you should look into when making an online store. In March 2022, PayPal had over 429 million active users, according to Globaldata. This number alone should convince you that you need to integrate PayPal with your store. All over the world, it is synonymous with security and reliability.
A cherry on top? It comes integrated with Magento, which makes the setup process easier and faster.
Since it has a simple user interface that many are already familiar with, PayPal is a perfect payment gateway for a small business. And with PayPal express checkout, you only need your PayPal business account to get started.
You can choose between different versions of PayPal depending on your needs and budget. Small and medium businesses will get the most use out of their standard platform, and big companies that require more customization should go for the enterprise solution.
Pros:
Comes pre-integrated;
Available in more than 200 countries, and accepts 26 most popular currencies;
Widely used and recognized as secure;
Offers PayPal credit and Buy Now, Pay Later payments (in some countries);
Advanced encryption for fraud prevention;
Touch-free QR code payments;
Recurring Payments.
Cons:
Best for: Small & medium businesses, first time store owners, and anyone who wants to set up payments quickly.
Price: 3.49% +$0.49 per transaction for PayPal payments, 2.59% +$0.49 per transaction for credit and debit cards.
Magento User Guide
#2 Braintree
Braintree is a widespread PayPal-powered payment solution. It covers 46 countries and 130+ currencies. Similarly to PayPal, it works with most debit and credit cards, Venmo, and mobile wallets (and PayPal, naturally).
The list of their clients includes Airbnb, Uber, Dropbox, and many other companies you’ll recognize.
Since the Braintree extension comes installed with your Magento store, it’s another great option for those who are just starting out in ecommerce.
Pros:
Comes pre-integrated;
Recurring Payments;
Fraud protection through 3DSecure;
Allows customization;
Users stay on your store through the payment process;
Offers mobile payments and one-click checkout.
Cons:
Customization can be challenging;
Backend is not very user-friendly.
Best for: Businesses of all sizes, someone with a developer on a team to help with customization.
Price: 2.59% + $0.49 per transaction for cards and digital wallets, 3.49% +$0.49 per transaction for PayPal payments.
Magento User Guide
Payment Gateways Supported With Extension
Now we move to payment gateways that are not available in Magento by default. In order to install them, you will need to use a custom extension.
#3 Authorize.Net
Authorize.Net is one of the oldest payment gateways. It was created in 1996 and has been very popular in the USA ever since. Currently, 445,000 websites use it as their preferred payment processing option.
Many clients like it for its straightforward user interface and flexible payment options.
Authorize.Net extension used to come with Magento, similarly to PayPal and Braintree, but it’s no longer the case. To install it, you’ll have to choose one of the extensions from Magento Marketplace. Alternatively, you can ask a development company for a custom solution.
Pros: Cons:
Only available in the USA, Canada, and Australia;
Not PSD2 compliant;
Has a setup fee and a monthly fee.
Best for: Someone who needs a simple solution.
Price: $49 setup fee, $25 monthly fee, 2.9% + $0.30 per transaction.
Authorize.net Magento 2 Extensions
Do you need to integrate a payment gateway with your Magento store? Let’s talk! contact us we are among the best Magento services provide company in India, USA, UK and Australia
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