Payment Systems Comparison: Finding The Optimal Variant For Any Purpose

Payment Systems Comparison: Finding The Optimal Variant For Any Purpose

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You do not have to be an economic expert to know just how vital for any purpose is the online purchase. One of the services that any company dealing with payment systems wants to provide in the today world is an effective online procedure for paying. Nowadays, when almost all transactions are done over the Internet, it is critical to find the model that suits you the best.

In this article, we will give you an objective overview of a couple of top procedures that are proven to be of good quality.

Time is Money Especially Online

Before comparing some of the worldwide known methods, let us define points to follow when in search for the best flow of your money. There are several characteristics we are going to pay attention to when comparing different payment variants:

  • Time

Good methods are less time consuming and can be done in a decent time frame;

  • Security

It is your money we are talking about so do not be dazzled with false fairy tales;

  • Expenses

Usually, services provided by the company’s demand fees;

  • Options

The more possibilities, the better. For customers, freelancers, and business owners;

Dare to Compare

The following list is based on the most important components of an online purchase system. We will mention both the advantages and disadvantages of a particular way in order to make things easier for you:

  • PayPal

This is the most commonly used payment acquirer. The client has to have an account and an email address to send and receive money. It is suitable for different online procedures and is one of the most secure and proved ways of paying. That is why it is highly popular among the online casino players. Real money with PayPal can be transferred quickly, and you have to wait for five to nine business days to finish the transaction. However, the practice shows this period is even shorter. Follow the link to test the PayPal option http://onlineroulettewheel.co.uk/real-money/with-paypal.

  • Stripe

The near past has brought the Stripe making it the most useful for ones with specific needs. It is mostly popular because of the fact that it does not require account setup but gives you a chance to include the whole payment system into your own project, or site. On the one hand, with this method Payment Card Industry Data Security Standard (so-called PCI compliance) can be bypass. On the other hand, it can be a gate to potential frauds, so one should double check everything.

  • Due

Many people label this one as a PayPal successful substitute especially intended for small businesses and freelance persons. Its advantage is that it includes an e-bank where you can put money on the Internet. You can use e-wallets to send cash anywhere in the world. Moreover, it is not very expensive, and it has a decent time frame of two business days for a transaction.

  • Authorize.Net

This is one of the payment gateways that are present on the market for more than 20 years. It follows all the latest technology achievements, and it has been honoured for customer satisfaction with 5 awards.

  • Skrill

Many people call this international money transfer way a great PayPal substitute. Other than high security and protection of privacy data, this one provides you with easy sending and receiving money with the help of an email address. You can choose and move funds from 40 currencies. Opening an account is free, with simple access and at any time of the day. Here you can, for instance, transfer cash directly onto your Mastercard, Visa, etc.

  • Dwolla

Can this one jeopardize PayPal with transactions worth about a million per day? Even though Dwolla is new on the market, the service it provides made it quite popular among the users in a short period of time. Payments are usually received within a day, and it is mostly concentrated on bank transfers. The best thing is that transactions up to $10 are completely free.

What about the Fees?

So, after you have found the most exceptional method, you will face one little thing called fees. Often your final decision will depend on them. In the following table, you can learn about the fees and services of each aforementioned payment method:

The Acquirer Per Transaction Additional Comments
PayPal 2.9% + $0.30 No Setup and Monthly Fees
Stripe 2.9% + $0.30 Same as with PayPal
Due $2.7
Authorize.Net $0.10 $99 setup fee + $20 per month
Skrill $1.42 Free Setup
Dwolla Over $10, $0.25 Completely Free

The Final Thought

Considering this is only a small fragment of what the Internet has to offer, the recommendation is to find the one method that suits your business. Depending on the preferences, every single of those platforms has its unique benefits, as well as its drawbacks. Ask yourself: “What do I need exactly?” And it should not be a problem finding the best solution among the already mentioned systems.