One of the main success factors in e-commerce is the convenience of payment terms for orders. Payment gateways can provide them. Maximum comfort and security, the ability to remotely issue an installment plan and pay with literally two clicks of a button, all these are just the basic benefits for customers using the payment systems of online stores. For site owners, the benefits are no less. Without the ability to pay online, you will lose many potential buyers who will go to competitors, and Google will refuse to show your ads, at least in the “Purchases” section, where the audience is the warmest. If you add to this the simplification of accounting, then there will be no reason to refuse integration at all!

With dozens of online payment options, choosing the best one can be a difficult decision. If you decide to connect a payment system to your Shopware store and don’t know which one to choose, how to connect, and how it can be useful, contact the company’s Shopware development and continue reading our article. Let’s look at this matter more thoroughly and choose the best payment processor for your online store.

A payment gateway: what is it?

Before diving headlong into comparing different payment gateways, we need to understand the basics of online payments. It appears quick and straightforward at first glance. However, if you take a closer look, you can see how intricate the transaction process is and how many services are involved.

A payment gateway is a hardware-software complex that provides for the acceptance of payments on the site and the transfer of payment data of customers in an automatic manner. This is a bridge between the client of the site and the organization that processes payments (for example, a bank, or an electronic money operator). Unlike the payment system, the gateway does not interact with money. It only functions as a link. General advantages of payment gateways:

• the ability to customize settings for specific business features;
• Savings for businesses: the gateway provides all software and hardware for the process;
• Modern data encryption principles ensure transaction security;
• Only the acquirer receives the buyer’s data. They are not available to either the seller or the gateway.

You can quickly and easily establish an online store using the highly adaptable, potent, and scalable open-source platform known as Shopware. It is also extremely advanced and scalable. It will satisfy every need you have for operating a web shop.

A payment gateway for Shopware, such as PayPal, will become an integral part of the checkout process. The payment is applied to the order transaction. Payment processors are what make up a payment system at its heart, extending Shopware to allow a variety of payments. The list of all payment systems is stored in the database. Let’s see how the payment gateway works:

• The customer places an online order and requests credit card payment. When he clicks the “Pay online” option, a screen with a form for inputting credit card information appears;
• The purchaser submits the details, which are forwarded to the payment gateway together with data regarding the payment amount;
• The gateway notifies the buyer of an authorization request. An additional request is issued to the card’s international payment system (Visa, MasterCard, or other). You must obtain their confirmation that the card is legitimate and that the transaction is not fraudulent;
• If the card has 3D Secure protection, the buyer will be taken to a page with a password field. If the password is entered correctly, the issuing bank sends a notification to the international payment system;
• It sends a confirmation message to the acquirer;
• The acquirer is informed by the payment gateway of the amount that will be taken from the card account of the customer;
• The issuing bank checks the balance on the buyer’s card, sends the specified amount of funds, and sends a confirmation of the transaction to the international payment system;
• A confirmation is sent to the acquiring bank and the payment gateway as a result of this;
• If the transaction is successful, the buyer’s account will be debited for the given amount and the seller will be notified within 25 minutes;
• The purchase amount will then be immediately credited to the seller’s bank account.

How do I select a payment gateway for an online store?

For many online businesses, selecting the finest eCommerce payment gateway is a challenging task. Which payment processor is ideal for your company? Without comparing payment gateways on several different criteria, it is impossible to determine which is better. To determine which gateway is best for you, you must first determine the payment gateway requirements that will meet your business needs.

• Data encryption. The first thing the payer is interested in is the security of transactions. Bank cardholders want payment data to be protected and not get to third parties. Therefore, modern payment gateways operate following the international PCI DSS security standard;
• Round-the-clock work. The ability to shop at any time of the day attracts a certain segment of users and expands business opportunities;
• Anti-Fraud system. The payment gateway must have mechanisms that prevent fraudulent transactions. These are monitoring and risk analysis systems that provide added security for both the seller and the customer;
• Work speed. Even though during one transaction the gateway performs several operations, the client should not feel uncomfortable. For him, the payment should be quick, without any ambiguity, and with a clear outcome;
• Convenient integration. The rapid and easy implementation of a payment facility is appealing to website owners.

Payment gateway descriptions: pros, cons, and features

PayPal

When it comes to payment options, Paypal is usually the first company that springs to mind. Based on statistics, the total amount of payments exceeds more than 300 billion dollars every quarter. The world’s most well-known payment method may be this one.

Pros:

• Easy integration;
• A merchant account is not required;
• PayPal provides lower donation fees;
• You don’t have to worry about security as PayPal is fully PCI DSS and 3DS 2.0 compliant;
• PayPal support is quick to respond.

Cons:

• PayPal charges a little more than its competitors;
• While the Standard account is free, these features are usually few and far between for many eCommerce platforms.

Braintree

Some of the most popular websites and apps in the world, including Pinterest, Airbnb, Uber, Dropbox, Yelp, Skyscanner, Opentable, and others, use Braintree.

Pros:

• In addition to traditional debit and credit cards, Braintree also processes payments made with digital wallets, Venmo, ACH, and cryptocurrencies;
• Integration with PayPal;
• Braintree provides unlimited options for customizing your payment solution;
• Braintree supports over 100 currencies, so customers can pay in their local currency with no conversion fees;
• Bonuses for online stores;
• Nice prices for certain categories.

Cons:

• There are many complaints about Braintree support not responding promptly to customer inquiries;
• Ineffective security;
• Unlike PayPal, Braintree integration requires platform owners to open a merchant account;
• To integrate Braintree, you must have programming experience or hire a developer.

Stripe

A payment gateway is not all that Stripe is. Entrepreneurs from all around the world now have more opportunities thanks to a business intermediary.

Pros:

• Payment methods accepted in the local currency;
• The payment system processes payments in 135+ currencies — more than on other platforms;
• Stripe has developed its fraud prevention tool in addition to adhering to PCI and 3D Secure standards;
• The stripe includes a feature for detecting suspicious vendors;
• There is no need to create a merchant account, so implementation is quick and easy;
• 24/7 support.

Cons:

• There are many cases where accounts have been frozen or canceled;
• You’d better consider hiring a developer to integrate Stripe into your platform;
• Comparing Stripe to PayPal, the former takes a bit longer to process your earnings (2 days on average).

Final Thoughts

The payment option for a Shopware online business should be convenient for both you and your customers. Discover the preferences of your intended audience and contrast the costs and terms of different providers. Make sure your website satisfies both your demands and the specifications of the payment system. To help you choose, integrate, and configure a payment gateway, get in touch with professionals if you have any questions.