Best Payment Gateway in Australia

You’ve created the perfect e-commerce design, you’ve curated and added an excellent list of products, and you’ve successfully driven sufficient traffic to the website, are you succeeding? The answer might be, “yes”, not quite.

If you fail to implement one feature, you’ll forgo the trust of potential clients and fail to induce them to make purchases, and this feature is integrating a payment gateway into your e-commerce website.

People are, rightfully, extremely cautious about entering their payment details into random e-commerce websites, and it is extremely hard difficult for a webmaster to process transactions completely on their own. That’s why almost all web developers and professionals consider the integration of a payment gateway an essential step in the development of a functional e-commerce website.

The next question that naturally occurs to everyone is, “what payment gateway can an Australian-based e-commerce website use? Is there a meaningful difference between different payment gateway platforms? Which Australian payment gateway providers excel?” In this article, we’ll closely look at four of the best payment gateways in Australia, their pros and cons, where they shine and what they lack, all in the hope of answering these questions. Want to learn which one of the options is the best payment gateway Australia-based companies can rely on? Read on and find out.

What is a Payment Gateway?

A payment gateway is a crucial component of online transactions, acting as an intermediary between a customer’s browser and a merchant’s website. It securely transmits and encrypts payment information, such as credit and debit card numbers, to facilitate online payments. Payment gateways are essential for online businesses, as they provide a secure and reliable way to accept payments from customers. By ensuring that sensitive payment data is protected, a payment gateway helps build trust with customers, encouraging them to complete their purchases. Payment gateways are a crucial part of modern payment systems, ensuring that transactions are processed securely and efficiently.

How Payment Gateways Work

Payment gateways work by processing online payments through a series of steps. The customer can choose their preferred payment method, such as credit card, debit card, or mobile payment, on the merchant’s website. First, the customer enters their payment information on the merchant’s website. The payment gateway then encrypts this information and transmits it to the merchant’s bank or payment processor. The payment processor verifies the transaction and sends a response back to the payment gateway, which then notifies the merchant’s website of the transaction’s status. If the transaction is successful, the payment gateway transfers the funds to the merchant’s bank account. This seamless process ensures that online payments are handled efficiently and securely, providing a smooth experience for both the customer and the merchant.

Key Features to Consider

When choosing a payment gateway, there are several key features to consider. These include:

• Security: Look for a payment gateway that is PCI DSS compliant and uses end-to-end encryption to protect sensitive payment information.
• Fees: Understand the transaction fees, setup fees, and monthly fees associated with the payment gateway.
• Payment methods: Consider the types of payment methods accepted by the payment gateway, such as credit and debit cards, Apple Pay, and Google Pay.
• Recurring payments: If your business requires recurring payments, look for a payment gateway that offers this feature.
• Fraud protection tools: Consider a payment gateway that offers fraud protection tools to help prevent unauthorized transactions.
• Integration: Ensure the payment gateway integrates easily with your existing business systems and software.
  • Ensure the payment gateway integrates easily with your existing payment systems and complies with local regulations.

By evaluating these features, you can choose a payment gateway that best meets your business needs and provides a secure, efficient payment solution.

Payment Methods and Gateway Services

Payment gateways in Australia offer a variety of payment methods to cater to the diverse needs of online businesses. These payment methods include credit and debit cards, online payment services like PayPal and Apple Pay, and mobile payment methods like Google Pay. Some payment gateways also support recurring payments, making it easier for businesses to manage subscription-based services.

When choosing a payment gateway, it’s essential to consider the types of payment methods it supports. For instance, if your business primarily deals with international transactions, you’ll want a payment gateway that accepts multiple currencies and has competitive exchange rates. Similarly, if you have a large customer base that uses mobile payments, you’ll want a payment gateway that supports Apple Pay and Google Pay.

In addition to payment methods, payment gateways also offer various services to facilitate online transactions. These services include fraud protection tools, payment system integration, and merchant account management. Some payment gateways also provide additional features like payment gateway encryption, which ensures that sensitive customer information is protected during transactions.

Business Model and Pricing

Payment gateways in Australia operate on different business models, which affect their pricing structures. Some payment gateways charge a flat rate per transaction, while others charge a percentage of the transaction amount plus a fixed fee. Some payment gateways also offer tiered pricing plans, which can be beneficial for businesses with high transaction volumes.

When evaluating the pricing of a payment gateway, it’s essential to consider all the fees involved, including setup fees, monthly fees, and processing fees. You should also consider the payment gateway’s pricing plan for international transactions, as these can be more expensive than domestic transactions.

In addition to pricing, it’s also important to consider the payment gateway’s business model and how it aligns with your business needs. For instance, if you’re a small business with low transaction volumes, you may want a payment gateway with a pay-as-you-go pricing plan. On the other hand, if you’re a large business with high transaction volumes, you may want a payment gateway with a tiered pricing plan.

Customer Support and Reliability

Customer support and reliability are critical factors to consider when choosing a payment gateway. You want a payment gateway that offers responsive customer support, preferably through multiple channels like phone, email, and live chat. You also want a payment gateway that has a high uptime rate, ensuring that your business can process transactions without interruptions.

When evaluating the customer support of a payment gateway, look for reviews and testimonials from other businesses. You should also check the payment gateway’s website for information on their customer support services, including their support hours and contact information.

In terms of reliability, look for payment gateways that have a high uptime rate and a robust infrastructure to support high transaction volumes. You should also check the payment gateway’s security measures, including their compliance with industry standards like PCI DSS.

Top Payment Gateways in Australia

Australia has a range of the best payment gateways that cater to different business needs. Some of the top payment gateways in Australia include:

• SecurePay: A popular payment gateway that offers competitive pricing plans and robust security features.
• eWay: A payment gateway that supports over 250+ shopping cart and software integrations and offers competitive pricing plans.
• Pin Payments: A payment gateway that offers custom pricing for high-volume merchants and supports Shopify, WooCommerce, and BigCommerce.
• ANZ eGate: A payment gateway that offers competitive pricing plans and free terminal rental fees for 12 months.
• 2Checkout: A payment gateway that supports over 100 ecommerce, shopping cart, and invoicing system platforms and offers competitive pricing plans.

These best payment gateways offer a range of features and benefits that can help businesses in Australia streamline their online payment processes and improve customer satisfaction. By choosing the right payment gateway, you can enhance your e-commerce platform and provide a secure, efficient payment experience for your customers.

eWay payment gateway provider

eWay is one of the most popular payment gateways in Australia - tens of thousands of companies make use of their services throughout Australia. This includes big names like LG and Thermomax. If you are looking to integrate a payment gateway into your eCommerce website, eWay should be one of the first names you should consider.

Pros:

1. instantly-recognisable name: eWay is one of the most popular payment gateways in Australia. Many online shoppers will instantly recognize it. This can add credibility to your e-commerce platform, especially if it is new. Clients know their transactions are protected and their data is safe if it is through eWay, as the payment gateway encrypts sensitive card details to ensure secure transfers.
2. truly scalable: whether you use eWay to process 10 or 10,000 transactions a day, it is a payment gateway that can truly scale with your operations. This means that you’ll have one less bottleneck to worry about when expanding your operations, entering new markets, or appealing to new demographics.
3. feature-rich: do you want to process payments in multiple currencies? Do you want a payment gateway that will easily integrate into your platform whether you’re using WooCommerce, Shopify, Magento, etc.? Do you want a payment gateway that supports ticketing? These are just some of the features that eWay offers. If you’re looking for a feature, eWay probably has it.

Cons:

• Needs some fine-tuning to work out of the box: although eWay has the potential to be an amazing payment gateway, it needs some fine-tuning out of the box before it truly excels. As an example, the fraud prevention tool isn’t automatically activated right of the box.

Square online payments

Launched in 2009, Square is also another really popular payment provider. Supporting integration with all popular e-commerce platforms, Square is well-known for its integrated payment solutions that act as an ecosystem businesses can rely on for both their brick-and-mortar and online transactions. Additionally, businesses should be aware of the higher costs associated with processing international transactions compared to domestic ones, which can impact the overall service fees.

Pros:

• An ecosystem: Square is more than just an online Australian payment gateway. They offer POS solutions, terminals, card readers, and more. If you have a brick-and-mortar store, using a different payment gateway online can complicate your accounting quite a bit. Having a unified payment gateway will make your business’s operations run much smoother.
• Excellent reporting tools: tracking your transactions is one of the best ways to keep track of the health of your business: keeping track of which products/services sell, how much income you make each month, and what discernable patterns you can spot are all vital tasks that can be carried out by analysing your transactions. Square provides you with excellent data analysis and reporting tools you can use to glean a lot of useful data from your daily transactions.
• Superb security: making sure your transactions are safe and secure should be of paramount importance to every e-commerce platform owner. Square provides both fraud prevention and end-2-end encryption, making the transactions extremely safe and reliable.

Cons:

• Too much for e-commerce startups: although Square offers a slew of excellent features, most of these are not needed by e-commerce startups. Taking a 1.9% cut on each transaction also means Square isn’t the cheapest payment gateway Australia has to offer. If you’re just starting, it might be a good idea to look at some of the other, more accessible, cheaper options first.

2Checkout

Launched in 1999, 2Checkout is one of the oldest and most prominent payment gateways in Australia. It is widely considered one of the best if not the best online payment gateway Australia has to offer, and this is for very good reasons.

Pros:

• A truly international payment gateway: supporting payments from all around the world in more than 80 currencies, if you want an international-facing e-commerce platform based in Australia, relying on 2Checkout is the way to go.
• Support for a variety of forms of payment: whether you want to charge a recurring bill or you want to give your client the option of paying by crypto, with 2Checkout, a variety of forms of payment are supported. Not only that, but 2Checkout also supports coupons and loyalty programs, which are essential for e-commerce platforms wanting to retain a loyal base.
• Excellent integration: 2Checkout offers great integration with many of the most popular e-commerce platforms out there – it processes payments flawlessly, allows you to customise the process, and gives you a leg up

Key Features to Consider:

• Compatibility with a merchant account: When choosing a payment gateway, it's crucial to ensure compatibility with your merchant account. 2Checkout offers various packages tailored to businesses that either require a full service or already have an existing merchant account to connect with the payment gateway.

Cons:

• Subpar customer support: although 2Checkout, as a service, is great. The support the company provides can be less than adequate, at times. As an example, the regular ‘merchant’ accounts don’t have access to 24/7 live chat support. Although, if you opt in to pay more, you’ll be able to get excellent support. That’s an additional cost that you should keep in mind.
• a bit on the expensive side: excellent features, scalability, and name recognition do come at a price. 2Checkout takes a 3.5% cut from each transaction, which is a meaningful amount. Is the cost worth it for you? We tend to think so, but it is ultimately your decision.

SecurePay

Trusted by more than 90,000 Australian businesses, SecurePay is one of the prominent online payment gateway service providers in the country. A payment gateway provider plays a crucial role in facilitating secure online transactions by encrypting and transmitting payment data between customers and merchants. Offering support for Apple Pay, allowing routine payments, and providing an online terminal are just some of its most prominent features.

Pros:

• Advanced fraud detection and prevention feature: with real-time monitoring and fraud detection, SecurePay has truly earned its name. It is among the safest, most secure payment gateway services in Australia. If you’re in an industry where you constantly have to worry about fraud, SecurePay is an excellent solution.
• Affordable: taking just 1.75% from each transaction, SecurePay is one of the most affordable payment providers in the country. It is half as expensive as 2Checkout, for example. Although 1% on each transaction might appear inconsequential right now, once an e-commerce platform grows and starts processing thousands of transactions each month, this 1% will translate into thousands of dollars of extra revenue.
• Excellent for entrepreneurs and small businesses: with its excellent security, affordability, and excellent integration into common e-commerce frameworks, SecurePay is an excellent option for small e-commerce businesses just starting. It is simple, straightforward, and reliable: everything a small e-commerce platform needs in a gateway service.

Cons:

• Lacks core features: although SecurePay covers all the basics, it lacks core features like support for mobile payment, PoS support, and more. The lack of any of these features can be a deal-breaker for many e-commerce shops out there, and that’s for good reason. If you’re thinking about using SecurePay in your e-commerce project, carefully ask yourself if you need, now or in the near future, any of the features SecurePay lacks. If the answer is yes, it might be a good idea to go with another service.

There are many gateway service providers out there, and no one dominates the market. This is because each of the providers has its unique strengths and weaknesses, and depending on your e-commerce project, any one of them could be right for your job.

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