Let’s start this with a riddle, Shall we? What is that thing which helps you in every situation and gives you the solution in seconds? Internet. You can search for whatever you want right away with the help of the internet and get expected results in a few seconds. Also, the pandemic has made it a little easier for everyone to use. Honestly, the internet was in use before the pandemic but you know, just only for searching purposes. You must be thinking, so what has changed now?
The change is pretty identical ain’t it? Like we didn’t use to order much food online and we rather preferred to pay in cash than online. Yeah! Absolutely you knew that this would come in the act. Well, that too is very identical to the heading itself.
The increasing use of the internet has brought people to buy stuff online, sometimes eCommerce websites compel them to buy but that is not the point. The point is that people use online payment to buy stuff. Like they have this trust in eCommerce websites and their payment gateways. But trust me some of them are very trustable.
The payment gateway ensures that people who are paying or buying something have a smooth cash flow and a secure one. If you want to build an online store then all you have to do is build an eCommerce website and integrate a great payment gateway, and you are all done for it. There are numerous factors on which the choice of the right payment gateway relies. The merchant, customer, the issuing bank, and the acquire are the key players in the online payment gateway.
Worldpay is nowadays very famous in the UK and it also processes half of the online payments in the UK. As of now, the company has 20,000 active customers who pay using Worldpay. In 2017 It was the leading acquisition in the UK with 7.9 billion transactions processed. Worldpay also received the award for the highest rate of successful authorization and highest uptime.
Worldpay is useful for both small businesses and large enterprises. It has some good features like risk and fraud management and currency conversion equipped with recurring payments. Below are some discussed features of Worldpay and its pros and cons.
Well if you are reading this article and you have reached through here. It will be astonishing if you have not already heard of Paypal. It is the most familiar and trusted brand among all the payment gateway and that too all over the world. Woahhh! Great stats, aren’t they?
Paypal was founded back in December 1998. Paypal is now available in more than 200 markets all over the globe. They already have 360 million active users in this world. It has to command over 100 different currencies so that people can transact their money wherever they want, whenever they want.
Supports almost every international card whether it be a debit or a credit card. It has world-class security for its customers. 20 or maybe more awards of excellence in this field. Webby people’s choice award for the best financial service in 2006. And trust me they have come a long way from that now.
Below are some features as well as pros and cons of PayPal. It is the best but the best has cons too.
It is an Irish-American financial company getting popularity in the UK because of its transparent pricing facility. You may also set up a direct debit using stripe. It is maintained for almost every business whether it be small or large. The payment gateway has several ranges for APIs so it is designed perfectly for UK customers. It is also trusted by popular brands all over the world such as Google, Shopify, Amazon, Wayfair, Unicef, etc.
Here are some great features of Stripe.
Now we may discuss the pros and cons of the Stripe payment gateway.
When it comes to choosing the best payment gateway for you whether you are a customer or a merchant you should first go for the security of your payments. Also, you will have to look for the payment methods supported by a particular gateway. To avoid fraud you may also look for the stats of that payment gateway.
The next thing you will do is look at your budget. Does this payment gateway proper in my budget? Ask yourself out. Look for Recurring billing, responsiveness, and easy-to-checkout features. Remember, features come at 2 and the security comes at 1.
Now you have an all-over guide about the UK payment gateways, also you know the top 3 payment gateways that have been used in the UK. It will be easy for your to choose from one of them. But first of all, you will have to determine the cost and also the requirements for your payment gateway. You will have to choose a payment gateway wisely according to the requirement of your customers.