With the rise of eCommerce, businesses have had to adapt their strategies and develop creative solutions. For instance, many online companies used to rely on conventional payment methods like direct bank transfers to send money over long distances. However, with the evolution of technology, payment integrations have become increasingly essential, offering seamless and secure transactions for both businesses and customers.
The older methods were not always adequate to meet the demands of internet vendors. In some cases, clients who ordered via direct bank transfers failed to complete their purchases, resulting in lost sales.
Additionally, sellers of high-moving merchandise often had to shut down over the weekends, while store owners had to handle each customer’s payment independently if customers didn’t provide references.
Fortunately, the introduction of internet payment gateways has made transmitting funds much simpler. Payment gateway technologies have made online payments safe and easy to use. These money transfer systems have had a significant impact on digital marketplaces, and one of the critical factors in the quick global acceptance of eCommerce is payment gateways.
People worldwide use payment gateways to pay online bills, make purchases, and pay freelancers. The ability to send and receive payments is now standard practice for many internet businesses. However, using any other method outside a payment gateway is challenging, inconvenient, and unfathomable for many.
However, payment gateways can be just as dangerous as they are helpful. Fraudsters everywhere are always looking for payment gateway networks that handle international money transfers, making it essential to avoid payment gateways that endanger your money and only use those you trust when shopping online.
You must use the best to integrate payment gateways into your website, online store, or web application. This blog will discuss the most dependable payment gateway APIs.
What is a Payment Gateway API?
APIs are software components that enable communication between different programs, facilitating the development of enhanced features that enhance the digital experience for users. One specific example is the payment gateway API, which connects a digital application to a reputable payment system through a payment-acquiring network, providing a reliable alternative to traditional hosted checkout pages used by many eCommerce companies.
Implementing payment gateways and payment integrations on a website allows customers to complete transactions without leaving the site, streamlining the payment process and creating a seamless user experience. This seemingly minor feature can significantly impact customer satisfaction and retention.
Core Features in Payment Gateway APIs
A payment gateway API offers software developers an easy way to improve their clients’ web experiences, simplify online payments, and maintain interface control. By utilizing the payment gateway provider’s API to access transaction payment details, developers can take charge of the user experience and execute transactions seamlessly.
When searching for a payment gateway API that can benefit you and your clients, it’s important to look for these essential features.
1. API Design
With the launch of each new standard, API creators adapt and improve their designs to better serve developers and application users.
The RESTful approach has become the most widely used API design in web-based services today. However, when it comes to payment gateways, developers prefer to use a RESTful API because it simplifies the payment integrations process. Additionally, payment gateways are designed to focus on technology to enhance users’ confidence in the application’s functionality.
2. API Security
Payment gateways allow for the exchange of cash, credit card information, and other sensitive financial data. As a result, security is a critical factor to consider, as these gateways may become targets for opportunistic cybercriminals.
Potential attackers can fully control HTTP requests and responses, which can pose a risk to data security. In addition, APIs are often used to transmit data that has been processed and stored on different servers, which increases the likelihood of data breaches and leaks.
Cybercriminals commonly employ injection and DDoS attacks to steal sensitive data and disrupt services. Therefore, verifying the PCI scope of the API before incorporating it into your payment gateway application is crucial.
Companies that offer payment-related services are familiar with Payment Card Industry (PCI) compliance. The PCI scope refers to the processes, technology, and personnel that impact cardholder data security. In other words, it pertains to the flow of information concerning your clients’ accounts.
Ideally, the API provider used for the payment gateway should handle the challenges of PCI compliance on their own rather than assigning this task to developers.
3. API Functionality
Before integrating a Payment Gateway API into your application, it is essential to consider your business requirements carefully. Using the API to address operational issues may not suffice, so ensuring your needs are met before implementing it is best. If you can’t find an API that satisfies all your business demands, consider selecting one that meets most of them. Unfortunately, skipping this crucial step is a common mistake many developers make.
4. Ease Of Use
Web APIs are incredibly convenient and straightforward, making them attractive to developers. In addition, using pre-built APIs saves developers from tedious work and allows them to launch their web applications immediately instead of building their APIs from scratch.
5. Detailed Documentation
One of the most significant concerns for developers is that many API providers need to offer adequate documentation for the APIs they create. Lack of documentation makes it challenging for developers to understand the fundamentals of the API and incorporate it into their web applications. In addition, without comprehensive documentation, debugging issues or unusual behavior of the payment gateway API becomes incredibly challenging.
Therefore, it is crucial to thoroughly examine the documentation provided by the API vendor before selecting them as your payment gateway API. If the vendor’s documentation is insufficient, consider exploring alternative solutions.
6. Advanced Fraud Protection
The risk of hacker attacks and dishonest API users is a concern when using payment gateway APIs. Therefore, selecting payment gateway APIs that offer advanced fraud protection within your budget is crucial to avoid potential fines, unauthorized data breaches, and lawsuits from other users.
7. Seamless Integration Across All Platforms
To streamline your processes, your payment gateway API should be compatible with various online and offline tools and platforms. Integration with POS systems, accounting programs, content management systems, and shopping carts should be effortless.
Additionally, manually updating records is unnecessary when payment gateway APIs are enabled, as transactions should automatically reflect the tools your program uses each time you conduct a new online sale.
8. Detailed Reporting
Many API users view payment gateways as a way to receive incoming transactions. However, payment gateway APIs can be configured for detailed reporting, enabling data-driven business decisions. Thorough reporting is a valuable feature of payment gateway applications and systems.
8 Most Trusted Payment Gateway APIs in 2023
Incorporating fundamental payment functionalities into your applications requires the use of payment gateways. Below is a list of the top-rated Payment Gateway APIs for 2023.
1. Stripe
Stripe, the payment platform, was created by top professionals in the industry and has formed partnerships with various payment-related companies to expand its network. These partnerships include the W3C, local banks, large card networks, and smaller banks, providing users with a wide range of options.
With a developer-focused experience, users can access Stripe’s RESTful payment gateway APIs, quickly integrating them into their programs and creating production-ready connectors. In addition, the API offers modern tools like real-time webhooks and React components, enhancing the customer experience.
Moreover, the developer platform provided by Stripe eliminates the need for developers to maintain outdated systems, allowing them to focus on core customers and application experiences.
Further, the platform localizes API fees and payments based on the user’s chosen currency, simplifying the sales process and reducing conversion expenses for API users.
Unique Features
- Detailed reporting and insights
- Multiple payment options
- PCI compliance
- Secure payment processing
- Customized checkout processing
- Localized transactions
- Custom UI toolkit
- Invoice
- Open-source plugin
- Mobile customer interface
- Authorization
- Dispute handling
- Accounting integrations
- Unified payout
- Payout timing
- Roles and permissions
- Collaboration notes
2. Paypal Payments Pro
PayPal Payments Pro, the leading global online payment gateway, is an extension of the popular PayPal platform. It allows businesses to launch an efficient payment processing service available to all online shoppers, regardless of whether they have a PayPal account.
The endorsement of the largest payment gateway platform can help instill confidence in your online application. The end-to-end platform supports credit cards, PayPal Credit, and payments, making it a reliable choice for users.
Rather than offering a single API, the platform provides an SDK with multiple (RESTful) APIs, each responsible for a different function. With an open-API infrastructure, developers can seamlessly integrate the payment gateway service into their eCommerce or marketplace solutions.
Additionally, business owners can accept credit card payments over the phone and utilize an invoicing kit to bill customers promptly. To safeguard payment credentials, PayPal Payments Pro adheres to the highest encryption standards in the industry. It is also accessible in over 200 markets and is the most widely used international payment gateway.
Unique Features
- Doesn’t need a PayPal account
- Custom checkout
- Provides quick access to cash
- Seamlessly integrates with all kinds of eCommerce and sales platforms, tools, and solutions
- Accepts PayPal payments
- Accepts Visa, Mastercard, and American Express
- Virtual Terminal
- Accepts payments in 25 currencies from 202 countries
- Options to simplify PCI compliance
3. Amazon Payments
Amazon, the world’s largest multiservice organization, supports its secure payment service, enabling customers and businesses to make online purchases more efficiently. To complete checkouts and check-ins, the service requires the user’s Amazon account information, which is instantly recognized by the gateway system upon login.
Moreover, the service is accessible on portable devices, allowing its integration into mobile applications. The business offers the A-Z Guarantee at no extra cost to ensure maximum security. Customers are charged a predetermined percentage of their transfer amount, similar to other payment gateways.
Amazon Payments package benefits consumers and allows online retailers to use the service. In addition, the package provides a fully functional eCommerce suite that facilitates order management and promotion for retailers of all sizes. Consequently, Amazon Payments can optimize its marketplace operations and enhance its users’ credibility as reliable vendors in the eyes of its customers.
Unique Features
- Improved conversion rates
- Transaction-based fees
- Streamlined purchasing process
- Retail-first
- Identity
- Inline checkout
- Automatic payments
- Fraud protection
- Merchant website integration
4. Braintree
Braintree offers a comprehensive payment gateway solution ideal for developers and business owners. The platform uses a modern GraphQL API, enabling developers to integrate directly with the API instead of interacting with the server SDK.
The payment gateway can handle various tasks, such as accepting and processing payments made with credit cards, wallets, and other regional payment options. It provides a single integration for a range of payment options and solutions. Additionally, customers can store their credit card information at the checkout, simplifying the sales process.
Business users can send, accept, process, and split funds simultaneously, allowing them to enhance their commercial opportunities and increase revenue. Furthermore, Braintree’s affiliation with PayPal supports its service.
Braintree’s payment gateway API offers a seamless checkout experience and useful anti-fraud tools that allow users to manage risk and detect fraud in online payments. This helps establish a secure environment, fostering trust in your online application.
Furthermore, Braintree provides four distinct modules to cater to enterprises and organizations of all sizes.
- The first module is designed for merchants and donation collectors.
- The second module enhances payment processing for better order management and benefits online firms.
- The remaining two modules enable people and enterprises to collaborate with retailers and companies to generate revenue opportunities.
Unique Features
- Global market reach
- Friendly drop-in UI
- Customizable checkout flows
- Braintree Vault
- Excellent support
- 2-day payout
- Easy repeat billing
- Dynamic control panel
- Encryption
- Easy data migration
- Guaranteed uptime
- Advanced fraud protection
- Drop-in UI
- Customized checkout workflow
5. Authorize.Net
Authorize.Net is a payment gateway API service tailored to retail and service contexts. It offers a reliable option that adheres to best order management practices, providing customers with an improved online shopping experience.
Initially designed to help retailers expand their local and online sales while ensuring transaction security, the platform can also manage and store data, automate tasks, and relieve the workload of full-time staff.
Being one of the first payment gateway providers, Authorize.Net has established a substantial market share among small and medium-sized businesses. Its affordability and secure payment solutions are particularly attractive to many clients.
Along with the payment solution, clients receive a complimentary mobile POS app that works seamlessly with iOS and Android. Additionally, they also receive a free website payment seal and anti-fraud tools.
Lastly, Authorize.Net offers 24/7 free support to clients. By leveraging Authorize.Net’s API, developers can tap into the expertise of experienced professionals to establish unique relationships.
Unique Features
- Robust online payment system
- VPOS
- A virtual terminal for manual transactions and batch uploads
- Customer integration manager
- Retail payment
- Mobile payment
- Mail/phone payment
- Advanced fraud detection suite
- Recurring billing
- Customer information manager
- E-check processing
- Sync for Quickbooks
6. 2CheckOut
The payment platform is designed with user-friendliness in mind, offering many features to enhance the payment process. For instance, it localizes transactions based on the user’s location, displaying them in the appropriate languages and currencies. As a result, the streamlined sales process saves time for both buyers and sellers.
It can be integrated with online shopping carts and billing software to expedite payment processing. Customers can also establish subscription plans and set up recurring account fees. Furthermore, it ensures PCI compliance, safeguarding users against online threats.
Unique Features
- Localized transactions
- Extensive payment options
- Secure transactions
- Multiple payment methods
- Inline checkout options
- Recurring billing
- Create customized subscription plans
- Level 1 PCI compliance
7. BlueSnap
BlueSnap provides a comprehensive payment solution for web, eCommerce, and mobile app developers. It also offers specialized payment processing services for online retailers and merchants, enabling developers to connect their applications to all major marketplaces and shopping cart platforms.
BlueSnap’s platform provides online retailers with various options to expand their businesses. With support for up to 110 payment methods, 29 languages, and 100 different currencies, the service is available in 180 countries. In addition, it automatically connects to a global network of acquiring banks for the latest conversion rates.
In addition to these features, BlueSnap offers its users a Subscription Billing Engine that allows customers to accept payments without manually entering their credit card information. This feature helps retailers reach a wider audience globally and personalize their recurring billing models.
Moreover, developers can create original mobile applications using BlueSnap’s API. The combination of developer- and retailer-friendly functionality in the payment gateway sector is rare, but BlueSnap offers both.
Unique Features
- A robust payment management suite
- Multiple payment options
- A built-in virtual terminal for every console
- International eCommerce-friendly system
- Powerful analytical features
- Separate merchant account
- Payment processor
- Online and mobile checkout
- Invoice payments
- Marketplace payments
- Integrated payments
- Cross-channel payments
- Intelligent payment routing
- Direct debit and bank transfers
- Multi-currency payouts
- Mobile payments
- 3rd-party payment plugins
- Multi-currency reporting
- Global payments
- Fraud prevention
- Managed risk services
- 3D secure and PSD2 compliance
- Payment tokenization
- Global coverage
- Secure acceptance web/mobile
8. WePay
WePay is a versatile payment gateway designed to meet the point-of-sale and web-based needs of software platforms and Omni-channels. Its quick, effective, and secure processing and onboarding make it an ideal choice for applications looking for a payment solution.
Using WePay gives software companies the flexibility needed to streamline their business operations. In addition, the platform allows consumers to customize the web interface based on their brand and pricing scheme, making it easier for companies to promote their business strategy and offer local processing.
With WePay’s direct referral feature, consumers can accept payments without waiting for Chase merchant accounts to be created, giving users total control over managing payment facilitation.
The platform supports various payment methods, including ACH, debit, and credit payments, providing comprehensive payment solutions. Additionally, users can receive daily, weekly, or monthly rewards.
Unique Features
- Excellent support
- Complete payment risk coverage
- POS solution to boost sales of custom UX
- Quick onboarding
- Fast and simple integrated payments
- Intuitive account provisioning
- Mobile POS
- Funds settlement
- Transaction-level reporting
- High-level PCI security
- Tokenization
- Compatibility with Apple Pay and Android Pay
- Direct bank transfers
- Risk API
Benefits of Using a Payment Gateway API
1. Efficiency
A payment gateway API can make the payment process more efficient by automating tasks such as payment authorization, processing, and settlement. This can save time and reduce errors that might occur with manual processing.
2. Speed And Flexibility
Payment gateway APIs can also help increase the speed of payment processing, which is particularly important for businesses that process high volumes of transactions. Additionally, payment gateway APIs are often designed to be flexible, allowing businesses to customize their payment processing flows to meet their specific needs.
3. Scale Revenue
Payment gateway APIs can help businesses scale their revenue by enabling them to accept a broader range of payment methods and currencies. This can make it easier for businesses to expand their customer base and reach new markets.
4. Ecosystem
Many payment gateway APIs come with additional features and payment integrations that can help businesses manage other aspects of their operations, such as fraud prevention and inventory management. This can create a more seamless ecosystem for businesses, reducing the need for multiple third-party tools.
5. Globalization
Payment gateway APIs can also help businesses expand globally by providing access to local payment methods and currencies. This can help businesses overcome barriers to entry in new markets and make it easier for customers to make purchases.
6. Good Economics
Payment gateway APIs can be a cost-effective way for businesses to process payments. Instead of investing in expensive payment infrastructure, businesses can use payment gateway APIs to outsource payment processing and reduce costs.
7. Multiple Options
Payment gateway APIs typically offer businesses various payment options, such as debit cards, credit cards, e-wallets, and bank transfers. This can help businesses cater to customers’ preferences and increase conversion rates.
Overall, a payment gateway API can provide businesses with various benefits, from increased efficiency and speed to expanded payment options and global reach.
Conclusion
The payment sector experiences significant progress through payment gateway APIs that streamline payment processing. However, to meet a client’s requirements, developers must evaluate the advantages and drawbacks of available payment gateway APIs and choose the one that offers optimal features at a relatively low cost.
Any payment gateway API can yield several benefits, regardless of the provider. Developers can create secure applications, establish robust connections with others, contribute to the web application ecosystem, and ultimately attract more customers.
If you are looking for Shopify custom payment gateway integration services, look no further than Nivara. We’re here to help!