When it comes to running an online business, a reliable and secure payment gateway is essential. It not only ensures smooth transactions but also instills trust in your customers. If you’re a BigCommerce user looking for the best payment gateways to integrate with your point-of-sale (POS) system, you’re in the right place.
In this post, we will explore the top three BigCommerce payment gateways available that are tailored to meet your POS needs.
What is Payment Gateway?
A payment gateway is a technological component that facilitates the transfer of payment information from the customer to the acquirer and then relays the acceptance or rejection of the payment back to the client. It performs secure verification of the customer’s card details, verifies fund availability, and ultimately enables businesses to receive payments.
Leading payment gateways have the capability to simplify payment processing, consolidate vendors, and streamline reporting and reconciliation processes, resulting in enhanced efficiency.
How do BigCommerce Payment Gateways Operate?
After gaining an understanding of what a payment gateway is, let’s delve deeper into the workings of BigCommerce payment gateways.
The payment process initiates when a customer clicks on the “buy now” button. They are then directed to the checkout page, where they are required to input their credit card details. Subsequently, they are transferred to a secure page to finalize the transaction.
During the transaction, the BigCommerce payment gateways undertake the following tasks within a matter of seconds:
- Integrates with your store, enabling you to process the customer’s payment information.
- Safely encrypts and transmits all payment data.
- Redirects the customer to a confirmation page, or suggests trying an alternative payment option if the system confirms or rejects the payment for your store.
4 Types of Payment Gateways
#1 Hosted payment gateways
A hosted payment gateway is a third-party program that facilitates the processing of payments from your customers and deposits them into your bank account. It incorporates encryption technology during the exchange of money, making sure that the funds are transferred securely from the payer’s account to the recipient’s bank account through an online platform.
- Enhanced Security: Payment service providers (PSPs) handle the entire transaction process, granting merchants improved security and data protection for a fee.
- Intuitive: Merchants often use templates that require little more than inputting info, and don’t require any upkeep from the merchant because the PSP manages the process.
- Flexible: Most of the highest-ranked PSPs allow merchants to customize the checkout page with their own branding.
- Customer experience not wholly overseen: Factors linked to external payment gateways mean the merchant cannot oversee the entire customer buying experience. Modifications can be made to the checkout page, allowing the selection of a Payment Service Provider, although the PSP ultimately has control of the process.
#2 Self-hosted payment gateways
This gateway allows the collection of payment data from your shoppers without having them navigate to another page. All the payment details will be filled in on your web page itself.
- Great client journey: Utilizing a self-hosted payment gateway, businesses have full power over how customers experience the process.
- Tracking customer activity: This makes it much simpler to keep tabs on client information for upcoming marketing strategies. When a customer completes a payment via a non-hosted gateway, it is possible to link that payment to the customer’s account and observe their buying habits.
- Heavy accountability: Hosting a payment gateway yourself necessitates that you are responsible for guaranteeing the safety of the transaction and the protection of the data through the entire checkout process.
- Technical aid: If there are any troubles with the checkout page, it is your obligation to troubleshoot. You may need to bring in an expert, which may be financially taxing if you can’t unravel the issue on your own.
#3 API-hosted payment gateways
Certain traders desire entire control of their checkout procedure and do not want to redirect customers to another page. A payment API (Application programming interface) enables customers to enter their credit/debit card information directly on the checkout page. Furthermore, it processes the payment either utilizing its API or a few HTTPS queries.
- Ease of Customization: An API that handles payments can make the purchasing process easier for customers, as they no longer have to complete time-consuming forms. With just a few taps on their mobile device, customers can quickly finish their purchase, as they can reuse their payment info.
- Capable of Integrating: Your company’s payment infrastructure can be used to enable payments in various places, such as a mobile app, Twitter, Instagram, or a traditional web environment.
- Complex safety protocols: As APIs are accessible over the web, they can be vulnerable to the same risks as any other online resource. Merchants must observe PCI DSS and acquire SSL (Secure Sockets Layer) certification for security purposes.
#4 Local bank integration/Direct Payment Gateway
When customers utilize local bank integration gateways, it brings them to the website of the payment gateway (the bank). Upon arrival, they enter their payment and contact data. After the payment is completed, the customer is redirected to the merchant’s website with the notice of the payment transmitted.
- Simple and effortless to configure.
- Only the most essential features.
The Top 3 BigCommerce Payment Gateways
eCommerce platforms, such as WooCommerce, Shopify, and BigCommerce, have put their trust in PayPal as one of the top payment gateways.
The essential characteristics of this include:
- Receiving payments/credit card transactions from all over the world
- Ability to work with multiple currencies
- Charges for withdrawals
- Customer assistance with secured paperwork and designated settlement days
- Integration with mobile application payment gateways for iOS and Android
For those who need a comprehensive way to accept credit card payments for digital downloads, Stripe is a great online payment provider that gets the job done quickly.
Why take advantage of Stripe?
- Customize the checkout process
- Stripe supplies live data on payments, charges, reimbursements, and transfers through its API and control panel…
- Gain access to the data directly via the API
- Integration with a plethora of programming languages
Authorize.net is a payment processing service that is widely used by online retailers and eCommerce businesses. It allows customers to securely enter their payment information and complete the transaction without having to worry about the security of their data. The service is reliable and easy to use, making it a popular choice for businesses.
Amongst the payment gateways available for BigCommerce, Authorize.net stands out due to its reliable and secure features. It has earned a reputation as one of the best payment solutions.
- No additional fees and competitive pricing
- Offer mobile access and the capability to see transaction information from anyplace
- High customer satisfaction
- Great payment procedure for billing and producing statements
- Include a robust sandbox environment that is perfect for trials
Criteria For a Good BigCommerce Payment Gateway
Choosing the right payment gateway for your BigCommerce store is an important decision that requires careful consideration. With so many options available, it can be overwhelming to determine which one is the best fit for your business needs. However, by discussing the following top questions with your team, you can streamline the selection process and make a well-informed decision.
- Firstly, you should consider customer preferences. Understanding your customers’ preferred payment methods can help you select a payment gateway that accommodates their needs.
- Security is of utmost importance when it comes to Bigcommerce payment gateways. Ensure that the payment gateway you opt for has top-notch security measures to protect your customers’ sensitive information.
- Cost is a significant consideration that you shouldn’t overlook. Compare the costs of different payment gateways, including transaction fees, setup fees, and monthly subscription fees before making a decision.
- Lastly, customer experience should be one of your top priorities. Choose a payment gateway that provides a seamless checkout process to ensure a positive experience for your customers.
Remember, choosing the right BigCommerce payment gateways for your POS is a crucial decision that impacts your customer’s experience and your business’s success. Take the time to assess your specific requirements and consider the features, security, and ease of integration provided by PayPal, Stripe, and Authorize.net.
If you’re using Connect POS, you’ll be pleased to know that it integrates directly with the BigCommerce platform and supports seamless integration with these top-tier payment gateways. This integration streamlines your operations, enabling you to manage inventory, sales, and payments all in one centralized system. Contact us today for more information.