The Top Payment Gateways: What to Know

Using a payment gateway is an effective way to simplify payment processing. The right gateway ensures your customers’ data (such as credit card information) is safe and secure. Your business should always utilize one that has the latest encryption technologies to help secure sensitive payment data. Traditionally, payment gateways and payment processors didn’t work together; however, there are now all-in-one solutions that combine the gateway and the processor for your convenience.

With an all-in-one solution, you’ll enjoy numerous benefits, including:

  • Expanded customer base
  • Secure transactions
  • Fast transaction processing
  • Bundling advantages, such as the ability to bundle the processor and gateway with your shopping cart software
  • Enhanced convenience

Let’s take a look at five different payment gateways you can use to drive your business to the next level of success.


BankCard Connect:

BankCard Connect gives you access to 175+ shopping cart solutions. You can even sync your transactions with QuickBooks, which simplifies your accounting processes. The service also features subscription billing, risk monitoring, unlimited processing, and access to a free EMV/NFC terminal or mobile reader. On top of all that, BankCard Connect offers a price-match guarantee as well as volume discounts for credit card processing.

Authorize.net:

Authorize.net provides a range of valuable services to customers, including multiple payment processing options, advanced fraud detection, customer information management, and an account updater.

PayPal:

PayPal is known for its ability to simplify payment processing. Customers enjoy enhanced invoicing features and can provide customers with an optimized mobile checkout experience. You’ll also be able to accept all major forms of credit and debit cards, along with multi-currency payments.

Stripe:

Stripe gives you access to a custom UI toolkit, easily allowing you to customize your payment processing to your precise needs. You’ll be able to accept in-person payments, as well as use an embeddable checkout across all of your digital interfaces. Stripe accepts all debit and credit cards, and is unique in that it’s compatible with a wide range of open-source plug-ins.

Pricing

Each payment provider offers its own pricing plan. All payment gateways have a $0 setup fee except Authorize.net, which includes a $49 setup fee. All of the gateways support recurring bills; however, only BankCard Services and Stripe support multi-currency transactions.

BankCard Services offers affordable pricing and flexibility for your payment processing needs. With BankCard, you can get access to your funds the next day, know exactly how much you’re paying with a transparent pricing model, and even receive discounts based on the volume of your credit card transactions. See the table below for a closer look at pricing models for each payment gateway.

Supported Credit Card Types

Your customers want multiple ways to make their payment when buying from you. When you only accept a limited number of credit card types, you limit your revenue potential.

Accepting multiple types of credit cards legitimizes your business, helps you level the playing field with your competitors, encourages impulse spending, and helps you eliminate the risk of accepting bad checks. The types of credit cards you can accept depends on your chosen payment gateway:

  • BankCard Connect: Visa, MasterCard, American Express, Diners Club, JCB, and Discover
  • Authorize.net: Visa, American Express, Discover, JCB, Chase Pay, MasterCard
  • Square: Visa, American Express, Discover, JCB, Union Pay, MasterCard
  • PayPal: Visa, MasterCard, American Express, Discover, JCB, Diner’s Club, and EnRoute
  • Stripe: Visa, MasterCard, American Express, Diners Club, JCB, and Discover

Do These Gateways Support Retail, Mobile, and Online Payments?

Yes. All of the gateways support retailmobile, and online payments, and can use tokenization; however, only BankCard Connect supports unattended payment processing (such as for vending, parking, and transportation services). This is important for businesses that want to create fast and reliable payment options for added convenience during everyday tasks.

Why BankCard Connect?

BankCard Connect simplifies payment processing by integrating with 99.99% of all payment gateways. Don’t have a payment gateway? That’s fine, because you can use ours. Many third-party processors, like Square or PayPal, offer equipment with limited functionalities while charging merchants with higher processing fees and offering little support. At BankCard, our goal is to ensure all of our services are customized to meet your specific payment processing needs. We easily integrate with QuickBooks SyncPay, which allows you to eliminate manual tracking and double entries. We process your transactions, create the appropriate accounting entries, and then mark the transactions as paid. Our transparent pricing and 24/7 support allows you to run your business smoothly. Best of all, as you transition to our services, our first-class customer service ensures you never experience downtime. Check out Bankcard Connect now.


Fees and PaymentsBankcardAuthorize.netSquarePaypalStripe
Setup Fee$0.00$49.00$0.00$0.00$0.00
Monthly Fee – Credit Card $0.00$25.00$0.00$0.00$0.00
Credit Card Per Transaction Fee$0.082.9% + $0.30$0.00$0.00$0.00
Monthly Gateway Fee$10.00$25.00$0.00$0.00$0.00
Gateway Per Transaction Fee$0.10$0.10$0.15$0.30$30.00
Cancellation Fee$0.00$0.00$0.00$0.00$0.00
Card Types66576
Recurring BillingYesYesYesYesYes
Mobile PaymentsYesYesYesYesYes
Unattended PaymentsYesNoNoNoNo
Hosted ServicesYesYesYesYesYes
Deposit TimeNext Day3-5 Days1-2 Days2 Days3-5 Days
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