Twenty years ago, making an online purchase was a once-in-a-year event you would brag to your friends about for days. In 2022, buying stuff over the internet is a daily banality not worth mentioning to anyone. However, talking about the payment platform is worth it, primarily because some of them can make you lose money.
This article looks at the top-ranked payment platforms you can use and actually save money. Check them out and make sure you purchase from merchants that use their payment gateway services. After all, using a mass payout solution like Paxum is fast, efficient, and cost-effective.
PayPal is an industry-leading payment processor with over 20 years in the business. You may know it as one of Elon Musk’s first enterprises. Also, if you have ever made an online payment, you most likely used it. This service is the most popular payment gateway across the US and beyond.
PayPal has an easy setup and supports multi-currency payments. Furthermore, it comes with numerous facilities for businesses and individual accounts. You can send or receive money from 203 countries, which comprise 99% of legal state jurisdictions worldwide. Lastly, PayPal does not charge any registration or monthly fees. Therefore, you can save the money you usually pay a bank to administer your savings.
Many consider Stripe as PayPal’s main competitor and a rapidly-growing company with a worldwide reach. And, they wouldn’t be wrong. Stripe surfaced on the market in 2010 and quickly developed into a reliable and trustworthy payment gateway. Nowadays, its brand has a $20 billion evaluation and growing by the day.
Stripe differs from PayPal through a versatile suite of services, supporting settlements and user inconveniences. For example, this payment gateway supports delayed payments and does not charge refund fees. Furthermore, it supports new assets for financial transactions, including Bitcoin. The only downside to Stripe is that only the citizens of 21 countries worldwide can use it.
- Amazon Pay
Before becoming a globally renowned brand, Amazon was an online shop for second-hand books. In fact, in the 1990s, it was one of the first significant online shops in the US. The company has developed substantially in the past two decades, establishing itself globally and becoming the go-to retailer for anything you want.
Amazon has enhanced its services offer with Amazon Pay, an e-payment gateway for small and medium enterprises. This service comes with advanced anti-fraud protection and numerous currency options. Furthermore, it supports vocal commands through Amazon’s proprietary AI assistant, Alexa. Like Stripe, Amazon Pay is only available in a handful of countries. This downside is a crucial losing point in its competition with PayPal.
These three payment platforms are the top options for people looking to shop online without using their credit cards. Each option provides appealing customer benefits and guarantees safe purchases from countless vendors worldwide. Furthermore, PayPal, Amazon Pay, and Stripe enable merchants to satisfy their customers’ payment preferences. While they currently rule the market, all three could face stiff competition from up-and-coming payment processors.