According to a BigCommerce-centric study, by 2023, more than 80% of US transactions are expected to be made using a method other than cash. Furthermore, the value of online payment transactions is will likely increase by more than 15% between 2020 and 2025. BigCommerce payment gateways can help customers and businesses by simplifying and accelerating payments in an increasingly cashless environment.
Today, payment services are predominantly processed online or via credit cards. A payment gateway is a service that processes credit card payments for your online store. It acts as a middleman between your store and the customer’s bank, verifying the payment information and transferring the funds to your account.
Are you seeking a dependable and effective payment gateway for your BigCommerce store? Look no further! In this blog, we discuss all you need to know about BigCommerce payment gateways.
What are BigCommerce Payment Gateways?
A payment gateway is a service that allows store owners to receive BigCommerce CBD payments from their customers who buy something.
Credit card processors and digital wallets are famous examples of BigCommerce payment methods. BigCommerce, for instance, has over 65 payment gateway connectors to digital wallets like PayPal, Apple Pay, and Amazon Pay.
How do BigCommerce Payment Gateways Work?
BigCommerce payment gateways expedite online transactions. The fundamental procedure is as follows:
1. To pay on BigCommerce, customers enter their credit card information on the checkout page.
2. Following that, a BigCommerce recurring payments gateway verifies the data and request the concerned bank to process the payment.
3. At this point, the bank emails/texts you a code to validate that the shopper is making a legitimate payment.
4. After you enter the code or One-Time Password (OTP), your payment gets approval or rejection. And the merchant bank and payment gateway is notified of the outcome.
What Are the Benefits of Using BigCommerce Payment Gateways?
There are numerous advantages to using BigCommerce payment processing methods, including:
These intermediate payment processors seamlessly handle all payments without interfering. This has a two-way effect: your customers will spend less time at the checkout and more time browsing your stuff.
The best payment gateway for BigCommerce must be ultra-secure. it securely saves all the payment information, so you can be confident that your personal and financial information is secure.
According to recent Experian research, more than 55% of customers respect security but still want their checkouts to be quick and straightforward.
3. Wide Range of Payment Options:
BigCommerce payment processing gateways support multiple payment methods, including credit cards, debit cards, and more. This allows businesses to cater to the payment preferences of their customers.
4. Seamless checkout experience:
With BigCommerce payment gateways, customers can complete their purchases quickly and easily. It eliminates the need for redirection to another website or facing unnecessary obstacles during checkout.
5. Easy Integration:
BigCommerce payment gateway integration with your online store must be straightforward. This makes it simple for businesses to start accepting payments quickly.
Top 4 BigCommerce Payment Gateways
Here are some of the most popular payment gateways for BigCommerce:
Paypal is the most popular BigCommerce payment provider. With its global reach, if you utilize PayPal, your business is available to a diverse range of customers globally, which is critical to your store’s conversion rate.
- It offers several payment options (the most complete of which is PayPal powered by Braintree).
- It is a safe payment gateway with no fraud prevention or security costs.
- Allows to set up a personal account along with a business account.
- Expensive chargebacks
- Have high currency conversion rates
- Credit card information is not saved.
Stripe is a famous BigCommerce custom payment gateway seen as an alternative to PayPal. It handles everything in-house, including the gateway, processing, and merchant account.
- It is appropriate for large-scale companies.
- It is available in 42 countries and supports over 135 currencies.
- Allows for one-click checkout
- Protects businesses against fraud
- Tech-savvy customers can customize their orders online.
- Its processing time is slower than PayPal’s.
- It can take a long time to resolve a Stripe dispute.
- Using Stripe can be a technical challenge for non-technical business owners.
3. Amazon Pay:
A highly popular BigCommerce payment gateway integration is Amazon Pay. It lets customers keep their delivery and purchase information in a single location. Then, it will send payment and delivery information to users with an Amazon account on this site.
Customers must use this payment method to connect their Amazon account to a third-party website or mobile app. Payment information is then securely sent to the website or app, making it simple.
- It is available in 105 countries worldwide.
- It has a free setup and fraud protection fees and doesn’t require a contract.
- Guarantees secure payment details
- Alexa voice integration to place and track orders.
- It doesn’t offer high-volume discounts
- It operates in only 19 countries.
Authorize.net is a BigCommerce custom payment gateway allowing merchants to accept online credit card payments. It’s an excellent option for merchants who want an easy payment gateway to set up and use. Authorize.net is also known for its high security and fraud prevention measures.
- It has no hidden costs.
- It allows for a mobile alternative and provides access to transaction data from any location.
- Provides satisfactory customer service.
- Is an acceptable payment method for billing and producing account reports?
- Low transaction charge for a merchant account (10 cents per transaction).
- It has a fixed monthly charge of $25 ($25 per transaction fee of $10, daily batch fee of $10 for those with a merchant account).
- It is not possible to optimize security features.
- Additional charges may apply based on your sales volume.
- Its website needs a better user interface.
Finally, providing various payment gateway options on your BigCommerce store can assist you in increasing sales and customer satisfaction.
Make it easy for your consumers to pay for your products or services using trusted and secure payment alternatives such as PayPal, Stripe, Authorize.net, and Amazon Pay. So, explore the BigCommerce payment methods and select the ones that best meet your customers’ needs.