To sell online, you inevitably need payment gateways. Indeed, banks generally do not allow a direct connection between a bank account and a website. So, you need to shop around for providers that can help you act as gateways. In this article, we will see some of these providers who offer their services in Canada.
What is a payment gateway?
A payment gateway is a service that allows money to be transferred from one bank account or credit/debit card to another bank account. Indeed, it acts as an intermediary between the buyer and the seller to facilitate online payment. Payment gateways are therefore used mainly for online business transactions. If you've had to shop online on e-commerce sites, you've definitely used a gateway.
How it works?
When you make an online purchase from a website, the payment gateway collects the buyer's payment information, such as credit or debit card details. It then encrypts the payment information and sends it to the customer's bank for verification and payment authorization. After the customer's bank approves the payment, the gateway finally transfers the funds to the seller's account.
Other payment gateway services
They may also offer additional features. Among the options are:
- subscription management,
- recurring billing
- and reimbursement management.
Payment gateways may charge fees for their services, including transaction fees and monthly or annual fees. In addition, before making a choice, you must inform yourself about the security of the solution. Among other things, you can validate that the gateway uses standard security protocols to protect customer and seller payment information. In addition, they must be compatible with the seller's website and e-commerce management systems.
Here are 10 commonly used payment gateways in Canada
If you are in Canada, you will certainly wonder which gateway you have available for your website. Below are a few.
PayPal is a popular online payment gateway that allows customers to pay with their PayPal account or credit card.
In regards to
PayPal is an American online payment company, founded in 1998. This solution allows users to transfer money and pay online. PayPal acts as an online payment gateway for internet purchases and transactions.
How it works?
To use PayPal, users must create a free account by providing their personal and banking information. Then, they have the choice between linking their PayPal account to their bank account or to their credit card to carry out online transactions. PayPal also allows online payments on their website or mobile app. Businesses can integrate PayPal into their website using PayPal's APIs to create custom payment buttons and payment forms.
PayPal also offers a variety of additional features, such as:
- payments in several currencies,
- and refunds.
Additionally, it charges fees for its services, including transaction fees for online payments. You may similarly incur currency conversion fees for foreign currency payments. You can also use PayPal for subscriptions . The solution is available in many countries around the world. Millions of websites and online businesses use PayPal services. It is important to note that PayPal should be used with caution, as there may be risks associated with the security and confidentiality of personal and banking information.
Stripe is another online payment gateway. Indeed, it allows companies to receive credit and debit card payments directly on their website. You can also create products directly from Stripe and redirect customers. In other words, if you are selling a service, you can create a link that users will use to complete the order.
Square handles the receipt of credit and debit card payments directly on their website.
Moneris makes it easy to integrate credit and debit card payments directly on their website or in person. In addition, Moneris solutions are available on customer websites or as software that companies use at the point of sale.
Authorize.Net allows businesses to receive credit and debit card payments directly on their website. You can use their API for integration. It is important to check if the solution you are using has easy Authorize.Net integration
Payfirma allows businesses to receive credit and debit card payments directly on their website.
Beanstream allows businesses to receive credit and debit card payments directly on their website.
PaymentEvolution is an online payment gateway that makes it easy for businesses to receive credit and debit card payments directly on their website.
Bambora is an online payment gateway that allows businesses to receive credit and debit card payments directly on their website.
BluePay is an online payment gateway that allows businesses to receive credit and debit card payments directly on their website.
How to integrate payment gateways on its website?
The integration of one of the existing payment gateways on a website is highly dependent on your choice. However, it can also depend on the e-commerce platform or website solution used. Here are the general steps to integrate a payment gateway on a website.
Choose payment gateway
You should choose a payment gateway that meets your business needs and is compatible with your website.
Create an account
To use the payment gateway, you must create an account and provide your company and bank account information.
Configure payment gateway
You must configure the payment gateway through the configuration options available on the payment gateway website. This may include setting up delivery, billing and payment options.
Integrate the payment gateway on your website
You must integrate the payment gateway on your website using the instructions provided by the payment gateway. This can include creating payment buttons, custom payment forms, or integrating payment gateway APIs.
Test the payment gateway
Finally, you should test the payment gateway to ensure that payments are processed correctly. So do some order and payment tests beforehand to make sure the payment gateway is working properly. It is important to choose a payment gateway that best suits your needs while offering the best security and protection against online fraud. Also, you should check the transaction fees, processing times, and security offered by each payment gateway before making a decision. So, if you need the services of experts, contact us.