4 of the Best Online Payment Platforms Compared (2023)

Whenever you sell goods online, it’s important to choose your payment methodscarefully. Different platforms have varying fees, ease of use, and encryption methods. Choosing the wrong platform could result in you overpaying, or even putting your customers at a higher risk of data theft.

To help you avoid those problems, we’ve put together a comparison of four of the best payment processors you can use. We’ll compare each option in terms of their pros, cons, and pricing structures. That way, you can choose reliable methods that are a strong fit for your needs.

Along the way, we’ll touch on other key factors such as security, ease of use, flexibility, and restrictions. Let’s get moving!

1. Stripe

4 of the Best Online Payment Platforms Compared (1)

First up, Stripe is a fairly new payment gateway that’s nonetheless become very popular. It features a simple payment structure, works in a variety of countries, and offers a lot of flexibility for business owners and developers alike.

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  • Customization.Stripe is the most customizable of all the methods on our list. This includes providing a lot of control over what customer information is collected and stored during each transaction (such as names and mailing addresses).
  • Extensions.This processor offersa large library of extensions that enable you to set up useful tools, including automatic appointment booking, analytics, and even automated shipping.
  • Integration. Stripe can be easily integrated into popular platformssuch as WordPress and WooCommerce.
  • Security. When you use Stripe, you’ll benefit from robust encryption and other security features that help to minimize data theft. There’s even a rewards program for programmers who report vulnerabilities.
  • International availability.Stripe is currently available in 26 countries, and lets youaccept payments from anywhere in the world.


  • Learning curve.Unfortunately, Stripe can be somewhat confusing to use, especially for beginners. The simplest way to integrate Stripe with your website in via an embeddable checkout form, but that won’t enable you to take advantage of the processor’s advanced functionality. For that, you may need to look into hiring a developer who can build a tool for you to use, or pay an extra fee for Stripe’s Enterprise package.


Stripe’s basic fee structure is 2.9% + 30 cents per transaction. You can contact thecompany directly for an Enterprise quote.

Recommended For:

Stripe is best suited to companies that need a custom payment setup (such as direct appointment booking), or that want to collect a specific types of data about their customers. Due to its DIY setup, Stripe is also ideal for businesses that have the resources to hire IT help.

2. Square

4 of the Best Online Payment Platforms Compared (2)

Next on our list, Square is an online payment method with a convenient card reader app. It supports both in-person transactions and online payments.


  • Ease of use.It’s easy to set up an online storeusing Square’s drag-and-drop editor. Plus,there are plenty of tools to integrate with major e-commerce systems like WooCommerce.
  • Multiple card reader options.Square is very popular with small businesses that need a card reader option for in-person transactions. You can purchase a chip or magstripe reader that plugs easily into a mobile device, saving you time on each transaction.
  • Email collection.You can use Square to prompt users to sign up for your email newsletter. If a user chooses to receive an email receipt, you will get access to their email address.
  • Large extension library.As with Stripe, Square has an extension library offering tools such as appointment booking, as well as integration with major platforms such as WordPress.
  • Customization.For advanced users, Square provides documentation so you (or your developer) can build custom solutions.
  • Security.Square uses encryption for the entire checkout process, along with advanced fraud detection software.


  • Country restrictions.Square is not available worldwide. Currently, it only serves the United States, Canada, the United Kingdom, Australia, and Japan.


Square charges 3.5% + 15 cents for manually-entered card transactions. Although this is a lower fee per transaction than other services offer, if you deal in high-value goods that extra 0.6% can add up quickly.

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Recommended For:

Square is best suited to companies that have a need for in-person transactions, don’t require complex e-commerce set ups, or are not particularly tech-savvy. Of course, you’ll also need to do business in one of the countries Square serves.

3. PayPal

4 of the Best Online Payment Platforms Compared (3)

Founded in 1998, PayPal is one of the oldest online payment platforms. Today it’s a giant, accepting payments almost globally.


  • Ease of use. It’s very easy to set up a PayPal business accountand get started quickly.
  • Easy integration with card readers. Like Square, PayPal offers a card reader option for in-person transactions.
  • Integration with Content Management Systems (CMSs). Thanks to PayPal’s popularity, there are many options available for integration with popular CMSs. You can either embed a checkout button using HTML, or integrate PayPal on any site using a third-party shopping cart app.
  • Global availability. Aside from a short list of restricted countries, PayPal is available around the world.
  • Security. PayPal uses encryption and fraud detection to protect your customers’ data.


  • Business-unfriendly policies. Some PayPal policies can be unfriendly tocertain businesses. For example, its seller protection policy does not cover digital goods. This means that even if you deliver the product as promised, the customer could complain and initiate a chargeback. What’s more, PayPal charges a $20 fee for chargebacks if the product in question isn’t covered by the seller protection policy.


PayPal charges 2.9% plus 30 cents per transaction in the US. You can also contact the company for a business account quote.


Recommended For:

PayPal is best suited to companies that conduct business globally and require a simple payment method, with an option for card reader integration. Companies selling digital goods may want to avoid PayPal, however, due to its chargeback structure.

4. Authorize.Net

4 of the Best Online Payment Platforms Compared (4)

Last but not least, Authorize.net is a robust online payment method geared towards businesses. It’s something of a lesser-known option, but is still worth consideration.


  • Website integration. There are a variety of third-party tools and more advanced techniques you can use to accept Authorize.net payments on your website.
  • Security.Authorize.net offers fraud detection and secure saved customer data, which also saves time on repeat transactions.
  • Card reader integration.The platform’scard reader appmakes it simple to set up in-person payment systems.
  • Time-saving features.Along with the basics, you’ll get access to features such as automatic QuickBooks syncing and invoice generation.
  • Customization. Developers can integrate Authorize.net technology into their own apps, digital wallets, and more.


  • Restricted countries. Authorize.net is currently only available in the United States, the United Kingdom, Europe, Australia, and Canada.


Authorize.net charges 2.9% + 30 cents per transaction. As with many of the processors on our list, you can also contact the company for an enterprise plan quote.

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Authorize.net is best for small businesses that want to use a card reader, and are also looking for the option to manage payments through an app or a custom tool.


When choosing the payment gateways for your eCommerce site you’ll use, it’s important to weigh each option’s pros and cons carefully. In addition, you’ll want to keep your business’ unique requirements in mind. For example, you’ll need to make sure the solutions you choose are available in any countries where you plan to conduct business, and can integrate with your website’s platform.

To recap, here are four of the most common payment processors you can use:

  1. Stripe: Ideal for businesses that have the resources to hire a developer, Stripe provides flexible and secure payment options.
  2. Square: Very simple to use, Square offers a number of extensions and easy card reader integration.
  3. PayPal: Available globally, PayPal has a wide range of business solutions available, including integration with many website platforms.
  4. Authorize.net: This option combines Square’s ease of use with Stripe’s options for custom development.

Image credit: Pexels.


What is the best online payment platform? ›

Best Online Payment Processing Services of 2022
  • Shopify: Best overall.
  • Amazon Pay: Best for streamlined checkout.
  • Stripe: Best for API customization.
  • Square: Best for selling via social channels.
  • BlueSnap: Best for splitting payments with other vendors.
  • Clover: Best for integrations.
  • Adyen: Best for omnichannel commerce.
1 Aug 2022

Which one is a online payment answer? ›

The various types of e-payment include credit and debit cards, mobile wallets, UPI, internet and mobile banking, and many more. You simply require a bank account and an internet-enabled device to leverage e-payment solutions and pay for various products and services.

What payment method is the best to use? ›

The cash system is likely the best option for anyone or any household constantly in credit card debt or living paycheck to paycheck, finally ready to make a financial change for the better. Not only do we spend less using cash, we actually can't overspend.

What is the best payment method and why? ›

Credit cards are the most commonly used payment method in eCommerce. Since credit cards are easy and mostly safe to use, the high popularity of using them in online purchases is no surprise. Shoppers only need to enter their card details to finish buying the products at the checkout.

Which online payment method is safest? ›

Secure online payment methods
  • Credit cards. The most familiar form of online payment is also one of the most secure payment methods. ...
  • Voice payments. An increasing number of customers are authorising payments using their voice. ...
  • Payment services. ...
  • EMV-enabled credit cards. ...
  • Contactless payments. ...
  • Payment apps. ...
  • Gift cards.
18 Jan 2022

What are the 4 payment methods? ›

A payment can be made in the form of cash, check, wire transfer, credit card, or debit card. More modern methods of payment types leverage the Internet and digital platforms.

What are the 3 methods of payment? ›

Payment Options
  • Cash.
  • Checks.
  • Debit cards.
  • Credit cards.
  • Mobile payments.
  • Electronic bank transfers.

Which payment method is faster? ›

Real Time Gross Settlements or RTGS, as it is commonly called, is one of the electronic modes of money transfer from one bank account to another, like NEFT. It entails a continuous or real-time settlement of payments on an individual order basis, without netting.

What are the advantages of online payment? ›

Benefits of Online Transactions
  • Providing practical payment system. ...
  • Reducing human resources' need. ...
  • Providing a sense of security for consumers. ...
  • Reaching a wider range of consumers. ...
  • Doing easier promotion. ...
  • Increasing customer retention rate. ...
  • Providing fast and easy integration.

Which type of payment is most trustworthy? ›

By and large, credit cards are easily the most secure and safe payment method to use when you shop online. Credit cards use online security features like encryption and fraud monitoring to keep your accounts and personal information safe.

What type of payment is most secure? ›

4 Most Secure Payment Methods
  • ACH debit.
  • Debit and credit cards.
  • Payment apps.
  • eChecks.

What are 3 factors you should consider when choosing a payment type? ›

4 essentials to consider when choosing a payment method
  • Total cost of ownership.
  • Customer preference.
  • Involuntary churn & failed payment rates.
  • Trust and safety.
  • Conclusion.

Which are five as of payment system? ›

This includes debit cards, credit cards, electronic funds transfers, direct credits, direct debits, internet banking and e-commerce payment systems.

How many types of online payment are there? ›

An electronic payment is a digital transaction between two parties, with e-payment types including ACH, cards, bank transfers, digital wallets, mobile pay, and more.

What is main payment method? ›

What is a payment method? A payment method is a way that customers pay for a product or service. In a brick-and-mortar store, accepted payment methods may include cash, a gift card, credit cards, prepaid cards, debit cards, or mobile payments.

Which method is very popular for online transaction? ›

Credit or Debit Card: This is one of the most popular methods of online transactions, and these cards are referred to as 'plastic money'.

What are six methods of payment? ›

The most common methods of payment in international trade include:
  • Cash In Advance.
  • Open Account Terms.
  • Consignment.
  • Documentary Collection.
  • Letters of Credit.

What are the new payment methods? ›

Contactless payments

Credit and debit cards that have near-field communication (NFC) technology. Mobile wallets, like Apple and Samsung Pay.

Which payment app is instant? ›

Compare the Best Money Transfer Apps
AppOperating SystemTransfer Speed
Venmo Best for Shared BillsiOS and AndroidInstant
Facebook Pay Best for Small TransfersDepends on the apps you already useInstant, though the bank may take up to five days to process
Zelle Best for Bank to Bank TransfersiOS and AndroidInstant
3 more rows

What is the fastest way to pay online? ›

ACH is Getting Faster

include ACH processing. In a 2018 Statista survey, 53% of survey respondents identified ACH as the most preferred B2B payment method in North America.

Is online banking safe? ›

Are online banks safe to use? Yes, online banks are safe. As long as an online bank is insured by the Federal Deposit Insurance Corp., it will offer the same coverage as the FDIC-insured bank down the street. FDIC covers up to $250,000 per account for each individual customer.

Why do customers prefer online payment? ›

Additionally, since many people prefer to pay online because it's more convenient and saves time, they will be less likely to delay the payment of their bills.

Why do people prefer online payments? ›

One of the biggest benefits of online payments is that they can provide valuable information about customers and their behavior – the products or services they click on, what device they are using to make a purchase, what payment methods they prefer, and how long (and where) they linger on your website.

Why online payment is better than cash? ›

The downside of using cash, however, is that there's no accurate track of transactions, and an inability to transact from anywhere for anything. Over a billion transactions that happen this way in India are not being tracked or even directed to the economy! Hence, Digital is the way!

› payment-options ›

Payment Options

https://www.practicalbusinessskills.com › payment-options
https://www.practicalbusinessskills.com › payment-options
Checks; Debit cards; Credit cards; Mobile payments; Electronic bank transfers. Payment Options. Offering more than one option could help you attract a wider var...

Payment Method Types - Zuora

https://knowledgecenter.zuora.com › ... › Payment Methods
https://knowledgecenter.zuora.com › ... › Payment Methods
Describes payment method types, such as credit cards, debit cards, bank transfers, etc.
The way one pays for a transaction. The three most basic methods of payment are cash, credit, and payment-in-kind (or bartering). These three methods are used i...

What is better then PayPal? ›

PayPal helps keep transactions secure by not sharing financial information with sellers and also monitors transactions 24/7. Popular alternatives to PayPal include Venmo, Apple Pay, Stripe, and Skrill.

Which is the most used online payment app? ›

Amazon Pay is one of the most popular online payment platforms in India. It can be used for making payments not only on Amazon India's platform but also other services such as Swiggy and Uber among others. PayZapp was launched by HDFC Bank back in 2015.

What app is better than PayPal? ›

PayPal remains a solid all-rounder, but there are plenty of competitors out there that may be better for you and your finance needs. Wise is great for international payments, Payoneer is perfect for freelancers, and Zelle lets you send cash to app-free friends and family.

Is PayPal or Visa better? ›

The biggest differences between PayPal and Visa are their roles in the payment process as well as where and how they are used. While PayPal is an online service that secures virtual payments using end-to-end encryption, Visa is a card network that facilitates transactions by connecting consumers, banks, and merchants.

Which is better PayPal or Google pay? ›

It depends on how you expect to use your account, and the type of transactions you'll likely make. Google Pay has a lower fee for debit card transactions compared to PayPal, which may edge it ahead if you're anticipating funding payments that way.

Which payment method is the fastest? ›

Wire Transfers

They involve sending money directly from one bank account to another. A wire is the simplest global payment method because it requires no middleman to handle the transfer, and the fastest method, as funds are received by the payee on the same day, or within 1-2 business days.

What's better than Cash App? ›

8 Best Cash App Alternatives and What They Do Better
  • Zelle – Integrated with most bank apps in the US.
  • Venmo – Easy bill splitting with fun, social features.
  • Google Pay – Higher payment limits with money management features.
  • Apple Pay – Simple interface with high payment limits.

What apps better than Google pay? ›

There are more than 25 alternatives to Google Pay for a variety of platforms, including Android, iPhone, Online / Web-based, Windows and Mac. The best alternative is PayPal.

Which service is best for money transfer? ›

How to send money online, on mobile or in person
  • Venmo: Best for mobile.
  • Cash app: Best for referral bonus.
  • Zelle: Fastest for domestic transfers (tie with Google Pay).
  • Google Pay: Fastest for domestic transfers (tie with Zelle).
  • PayPal: Most popular online.
  • Walmart2Walmart: Best for nonbank transfers.
3 Oct 2022

› sales › paypal-alternatives ›

Skrill allows you to send and receive money, store cards, link bank accounts, and make payments with just your email address and password. Skrill "wallet h...
And while none have managed to topple the titan, contenders like Venmo, Wise, Payoneer, Zelle, and Cash App have gained serious ground by offering a better expe...
Founded in 1998 by a group of tech superstars, including Elon Musk, Max Levchin, and Peter Thiel, PayPal became the go-to brand name in online money management ...


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