Selecting The Best Payment Gateway For Your E-Commerce

One key element of an eCommerce store is the payment gateway. The type of payment options you offer at checkout can help increase conversion or stand in the way of a sale.

That speaks to the need for entrepreneurs to optimize conversions by integrating a well-thought-out payment gateway into their e-Commerce stores.

And the good news is, there are a few online lenders that have started offering ITIN loans to minority business owners without SSN or EIN.

So if you don’t have enough cash flow to cover the upfront costs of digitizing your eCommerce store, you can easily and quickly access ITIN loans from a reputable online lender to implement the necessary changes.

Benefits of choosing the correct payment gateway

Easy Checkout

Online shoppers are known for their impatience and will get frustrated and cancel the purchase if your payment gateway has a lengthy, tedious and complex checkout process.

Thus, you need a swift payment gateway that will guarantee a seamless checkout experience to make online shopping easy for your customers.

Increase conversions

Impulse buying accounts for nearly 40% of eCommerce purchases. So it’s just a matter of time before a customer changes their mind when faced with a complex checkout.

Easy-to-use payment gateways help you net impulse shoppers and boost sales.

Supports many integrations

A good payment gateway integrates with your shopping cart, accepts multiple payment options, and provides recurring billing, fraud management, chargeback prevention, and faster processing.


Payment gateways provide secure transactions as they are usually compliant with top security standards like PCI DSS to enhance cardholder data security.

Top great gateways payment for implementing in your e-commerce


With over 286 million users, PayPal dominates the online payment industry due to its ease of use, top security features, and reliability.

With everyone using PayPal, it’s one of the best payment gateways to integrate with your eCommerce store.

Websites with PayPal see an 83% increase in conversions than those without PayPal. Plus, PayPal is the most used digital wallet in the world that supports the integration of many payment options, including:

  • Credit cards
  • Debit cards
  • Bank accounts
  • Venmo
  • PayPal Credit
  • PayPal

You’ll pay 2.9% + $0.30 per transaction in the US and 4.4% + a fixed amount per transaction on international purchases.


Stripe wins out as a versatile payment gateway that supports businesses with multiple processes and services. It provides payment methods for eCommerce shops, brick-and-mortar stores, subscriptions services, and on-demand marketplace setup.

Again, Stripe has an easy-to-use API to enable you to customize your checkout process. You can also set up recurring bills.

Studies show that merchants realize a 6.7% increase in sales after adding Stripe to their eCommerce stores.

Stripe supports different payment methods, including:

  • All major credit/ debit cards from all countries
  • ACH transfers
  • Masterpass
  • Apple Pay
  • Visa Checkout
  • Google Pay
  • Microsoft Pay
  • American Express Checkout

Transactions fees stand at 2.9% +$0.30 per transaction and 0.8% for ACH transfers. There is a 1% additional charge for international cards.


If you have a brick-and-mortar store that doubles as an online store, Square may be your go-to payment gateway. Their POS system integrates seamlessly with their online payment solutions so that you get the best of both worlds.

Adding the Square payment gateway to your website is free, and you’ll only pay 2.9% + $0.30 per transaction.

Payment Depot

Payment depot uses a membership fee-based pricing model depending on your monthly transactions. It’s the best payment gateway for businesses processing more than $50,000 a month.

Monthly fees start at $49/ month up to $199/month, and a fixed processing fee of $0.05 to $0.15, depending on your membership tier.


PayCafe is one of the best Payment gateways with robust features for chargeback and fraud protection. It also supports recurring bills, cards across 135+ countries, in-depth reporting, and flexible payments, including cryptocurrencies.

Factors to consider when choosing the correct payment gateway

  • Popularity: Identify the popular payment gateway in our country or region
  • Transaction fees: Choose a payment gateway with minimum transaction/monthly fees
  • Multi-currency support: If you want to scale your eCommerce business worldwide, find a payment gateway that offers multi-currency support.
  • Supported payment methods: Your eCommerce payment gateway should accept payments from major debit/credit cards, PayPal, and modern digital and mobile wallets.
  • Ease of use: Your payment gateway should be easy to use and offer a seamless checkout experience to the customer.

Fund your eCommerce payment gateway with ITIN loans

It takes money to integrate an eCommerce gateway into your site and customize it to fit your business needs.

If you’re a minority business owner without an SSN or EIN, you can take advantage of ITIN loans to fund your integration costs. Visit the link in the intro to learn more about it.

Also Read: Keys To Overcome The 7 Barriers of Ecommerce

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