in this days , dropshipping Is the buzzword of the e-commerce industry. Cashless economies are now prevalent. Here are the best online payment gateways and methods that you can integrate into your store.
Easy payment methods such as ePacket are available in almost all countries. Hence, most online marketers are getting ready for a whole new start in dropshipping.
Here’s what we’ll have today:
In a hurry, here is a list of the top 5 payment gateways and methods:
|payment method||Counting countries|
|WePay||United States only|
We have already discussed how users Start a dropshipping business them without money. So, let’s go in detail and find out the best payment gateways for retail businesses.
Let’s say you come across an e-commerce store with a clear intent to buy something from it. You add the product to your cart and proceed to checkout. To do this, you will need an electronic payment gateway through which you can pay for it.
The online payment gateway is responsible for all store transactions.
All you have to do is enter your credit card details on the payment gateway page and make the purchase. The payment gateway will deduct the amount from your credit card and send it to the dropshipper’s bank account after deducting some fees. The dropshipper can then transfer this to their bank account.
Dropshipping stores work just like online stores E-Commerce. The only difference is that they do not sell products from their warehouse directly. To sell manufacturers’ products, they need a payment gateway to make transactions.
Please note: Payment methods are different and people prefer the ones they are already familiar with.
For example, in the United States, PayPal is the most widely used payment method in e-commerce. In Canada, Payoneer and Stripe are mostly used. Even in Ukraine, Stripe is the most used payment method. So, while targeting a country, choose a payment gateway that is already prominent or use a combination of the two – we will discuss this later.
Let’s say you’ve created an e-commerce dropshipping store and are now looking for a payment gateway. Here are the criteria you must follow:
I have curated a list of the best payment gateways that shoppers use the most. From the list, you will get to know which countries are supported and how much transaction fee they charge.
PayPal is the most used payment method for e-commerce stores. It is a payment gateway accepted in more than 203 countries. Supports all major credit cards: Visa, Mastercard, American Express, Citibank, and more. To get started with dropshipping, you’ll need a business PayPal account.
Payment methods – PayPalnote: It is not supported in all countries. This list of eligible countries shows whether or not it is available in your country.
Stripe It is a US-based payment gateway that is available in more than 25 countries. Supports all major credit cards. But, it is mostly used in Canada, Australia, and the United Kingdom. It also provides integration with WooCommerce.
2Checkout It is another payment gateway that is available in more than 87 countries. Supports all major credit cards such as Visa, Mastercard, Diners Club, American Express, and more. It is available in many third world countries, where it is used in conjunction with another payment gateway. See our list of preferred payment gateway combinations below.
Authorize.net It is currently available in over 33 countries. It is one of the oldest and most trusted payment gateways available to credit card users. It also features multiple extensions for easy integration with WooCommerce stores. Authorize.net also has the lowest transaction fee or 2.90% + $0.30 for ecommerce and dropshipping stores.
Finally we have Skrill Payment gateway available in more than 40 countries. It charges a transfer fee of 1.9%. It also provides an official extension for integration with WooCommerce-based dropshipping stores.
WePay It is an online payment method for dropouts who want to add a smooth and fast online payment gateway to their website. Although WePay is a customizable payment solution, it has a limited number of payment options available at this time.
Prepare Google Pay Another great option for ecommerce store owners in the western region. Many people in the US and Europe use Google Wallet to store money.
Since they are shopping online, they can easily pay with Google checkout option. Not only is this option faster than other dropshipping portals, but it’s also more reliable. Google checkout also deducts the lowest amount of money since the payee also acts as a bank account.
It is better to select at least two payment gateways, if you are shipping for the first time. It’s hard to find a payment method that works best for users. Try at least two payment methods at once and then decide which one works best for you.
Here are the two best dropshipping payment gateways that you can use together.
you can increase the sales possible using a payment method that suits your customers.
Below is a list of frequently asked questions regarding ecommerce payment gateways for dropshipping.
All of the platforms that we have presented in the list are supported on WooCommerce. However, if you use any Another e-commerce platform There is a possibility that the payment gateways will not support it. It’s best to check first before setting up your store.
We recommend choosing an online payment gateway that is already available with the platform.
Some businesses are high risk due to many factors associated with them. These include business volatility, high turnover, and more investment Initial, public image issues.
So, if your business is high risk, most payment gateways will be reluctant to work with you. In such case, check early until you find a payment gateway that is ready to go.
Here are some high risk companies:
+ Debt collection
+ Diet programs
+ Credit repair
Before adding a payment method, ask yourself: Does the payment method support your target market? Is the currency supported? Let’s say you are targeting Ukraine. Therefore, you need an electronic payment gateway that supports the Ukrainian currency.
Paypal supports Ukrainian hryvnia but Authorize.net does not. This can become a real hurdle when processing payments in real time. Ensure that the relevant online payment gateways are set up correctly.
Payment gateway is an essential part of any e-commerce business. However, finding the right ones is problematic. So, test different payment gateways and choose the best one.
If you are just starting out, switch to popular ecommerce payment gateways like Paypal, Stripe, and 2Checkout to reduce the risk of losing relevant customers in your ecommerce stores.
Do you have anything to add to this article? Or have a question you want to ask? Just comment below and put your query and we will get back to you.
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