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If you’re doing any kind of business online, you’ve probably looked into a payment processing company. For myself, I integrate a few with my accounting software, FreshBooks and I have payment gateways integrated into this website’s online store. I have also integrated payment gateways for client membership sites. Here are just some of the popular payment gateways for small businesses you may want to look into for your own business!
- PayPal: Widely used, established, and very popular. On my FreshBooks account, I’m only charged $0.50 for non-credit card payments. Easier to get started than other Payment Gateways.
- Stripe: Also popular. Simpler fees. Great for Membership/Subscription and doesn’t charge international transaction fees although they charge currency exchange fees.
- Braintree: Integrates with Paypal as it’s owned by PayPal. Also has simple fees and won’t charge you fees for the first $50,000 of transactions! They also have discounted rates for non-profits.
Which payment gateway should you use? Well, it depends. If you have subscription based services like membership sites, I recommend using Stripe then PayPal to complement or use as a backup as many like to use PayPal. For small businesses just starting out with small budgets, Braintree’s first $50,000 without fees is very attractive and if you are a non-profit, their lower rates are even more incentive. FreshBooks easily integrates with Braintree just as with the other payment gateways!
What payment gateways do you use? How is your experience with them? Let me know in my Facebook group!