50% of online shoppers would cancel their purchase if their preferred method of payment was not available. Source
Therefore when it comes to choosing a payment gateway for your ecommerce website, it is important to choose a payment gateway that will keep your customers happy but also has the right features for your business.
Some of the most popular proven payment gateways that you should consider for your ecommerce website include:
Below we have outlined the setup cost, monthly cost, charge per transaction, free transactions per month, time before money becomes available and if a discount is provided for non-profit organisations for each payment gateway:
|Set Up Cost||FREE||FREE||FREE||FREE|
|Monthly Cost||None||£19.95 pay monthly or £0 pay as you go||$25||None|
|Charge Per Transaction||2.9% + 30p per domestic transaction and an additional 0.5%-2% cross-border fee applying to non-UK cards. A 2.5% fee also applies to currency conversion||2.75% of each transaction plus 20p on pay as you go||2.9% + 30¢ per transaction||1.4% + 20p for European cards, 2.9% + 20p
for non-European cards
|Free Transactions Per Month||None||None||None||None|
|Time Before Money Becomes Available||Immediately in your PayPal account with up to 2 days transfer to your bank account||3-4 days||Within 24 hours||7 days|
|Discount For Non Profit Organisations||Yes - 1.4% + 20p for all transactions||Yes - Extra Credit scheme||If your nonprofit processes more than $500,000 in donations annually, you may be eligible for a discount||Yes - Negotiable Fee discount|
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