The Best Online Payment Processors | Comparisons, Fees & More

Integrating the right payment processor with your online forms is crucial. Whether you’re a business owner collecting payments, non-profit gathering donations, or a service provider setting up recurring billing, choosing a payment gateway that aligns with your needs can significantly impact your operations.
Let’s look at some of the key features of the most popular payment processors and analyze them through the lens of online form builders like 123FormBuilder.

Stripe: A Versatile and Developer-Friendly Option

PayPal: A Recognized Name with Flexible Options

PayPal is synonymous with online payments, and its various plans offer flexibility depending on your needs:

• Fees: Like Stripe, PayPal charges 2.9% + 30 cents per transaction, with additional fees for international transactions.
• Recurring Payments: PayPal supports recurring payments across its platforms, though additional fees may apply with certain plans.
• Global Reach: PayPal is a global powerhouse, supporting transactions in over 200 countries and 25 currencies.
• On-Form Payments: PayPal offers both direct and indirect payment options, giving users flexibility. However, it’s worth noting that some PayPal plans, like PayPal Express Checkout, redirect users off-site.
• PayPal Payments Pro and PayPal Payflow: These premium services offer enhanced features, including a direct payment gateway for $30/month and more advanced customization options.

Best For: Small to medium-sized businesses or organizations that want a trusted, globally recognized payment processor with flexible integration options.

PayPal Standard

PayPal Standard is the most basic and widely used plan. It’s a great entry-level option with no monthly fees, making it ideal for small to medium-sized businesses or those new to online payments. The transaction fee is competitive. It supports a vast range of countries and currencies, making it versatile for global transactions.

Best For: Businesses and non-profits looking for a cost-effective solution without upfront costs. It’s suitable for those who don’t require advanced customization.

PayPal Pro

PayPal Pro is a step up from the Standard plan, offering additional features such as direct on-form payments. This plan eliminates redirection to PayPal’s site, providing a smoother and more integrated checkout experience for customers. The monthly fee of $30 may be a consideration for smaller businesses, but it offers advanced customization and control over the payment experience.

• Monthly Fees: $30
• Transaction Fees: 2.9% + 30 cents per transaction
• Recurring Payments: Yes
• Countries Supported: +200
• Currencies Supported: +25
• Card Types Supported: 7
• On-Form Payments: Direct
• Authorization Type: Direct
  

Best For: Established businesses that need a seamless, branded checkout experience and are willing to invest in a monthly fee for enhanced features.

PayPal Express Checkout

PayPal Express Checkout is designed for quick, convenient transactions, especially on mobile devices. It has higher transaction fees compared to other PayPal plans, particularly for international transactions. The indirect payment gateway experience involves redirecting users to PayPal’s site, which can be less seamless but offers the security and convenience of PayPal’s platform.

• Monthly Fees: $0
• Transaction Fees: 3.49% + fixed fee for domestic transactions; 3.49% + fixed fee + 1.50% for international transactions
• Recurring Payments: Yes
• Countries Supported: +200
• Currencies Supported: +25
• Card Types Supported: 7
• On-Form Payments: Indirect
• Authorization Type: Indirect

Best For: Businesses that want to provide a fast, secure checkout payment processor option, particularly if they expect a significant amount of international transactions.

Square: Ideal for SMBs with a Focus on Simplicity

Square is well-known for its ease of use, particularly for small to medium-sized businesses:

• Fees: Square’s fees start at 2.9% + 10 cents per transaction, with no monthly fees for basic accounts.
• Recurring Payments: These are available via Square Invoices, though they may not be as robust as Stripe or PayPal in this area.
• Countries and Currencies: Square is more limited geographically, operating in eight countries and supporting six currencies.
• On-Form Payments: Square offers direct payments, ensuring a smooth user experience on your form.
• Mobile Wallets: Square supports mobile wallets like Apple Pay and Google Pay, enhancing its appeal for mobile-centric businesses.
  

Best For: SMBs looking for a straightforward, all-in-one payment processor solution, especially those operating primarily in the U.S., Canada, or a few other supported countries.

Authorize.net: A Payment Gateway for Established Businesses

Authorize.net is a payment gateway ideal for established businesses with complex needs:

• Fees: It charges a $25 monthly gateway fee, with a transaction fee of 2.9% + 30 cents. ACH payments are also available at 0.75% per transaction.
• Recurring Payments: Supported, making it a good choice for businesses with subscription models.
• Global Reach: Supports transactions in multiple regions, including the U.S., Canada, and Europe.
• On-Form Payments: Direct on-form payments are supported, ensuring a seamless checkout experience.
• Card Types and Mobile Wallets: Authorize.net supports various card types and mobile wallets, making it versatile for different payment preferences.
  

Best For: Larger businesses with complex payment needs or those requiring a reliable gateway with advanced features.

PayPal Braintree

PayPal Braintree is a strong option for businesses looking for lower transaction fees and support for a variety of card types and mobile wallets. However, it lacks built-in support for recurring payments, which might limit its suitability for subscription-based businesses.

• Monthly Fees: $0
• Transaction Fees: 2.59% + 49 cents per transaction; ACH Direct Debit is 0.75% per transaction with a $5 cap
• Recurring Payments: No
• Countries Supported: +45
• Currencies Supported: +135
• Card Types Supported: 8
• Authorization: Direct
• On-Form Payments: Direct
  

Best For: Businesses needing a flexible payment gateway with lower fees and broad card and mobile wallet support but not requiring recurring billing features.

WorldPay and Opayo (SagePay): Reliable Options for the UK and Beyond

WorldPay and Opayo (formerly SagePay) are particularly popular in the UK and Europe:

WorldPay: With a minimum fee of around £19.95 per month and transaction fees ranging from 0.75% to 2.75%, WorldPay is a reliable option for businesses needing a strong presence in the UK. It supports payments in 135 currencies and offers both direct and indirect on-form payment options.

Opayo (SagePay): Starting at £25 per month, Opayo charges a 0.99% transaction fee after the first 350 transactions, supporting a wide range of currencies and offering direct on-form payments.

Best For: Businesses operating primarily in the UK or Europe that need a robust, locally recognized payment processor.

PayU

PayU offers a range of fees depending on transaction type and country. Its support for a wide range of payment modes and currencies makes it versatile, though it uses indirect payment methods.

• Monthly Fees: $0-$25 (varies by country)
• Transaction Fees: Domestic transactions 2% + GST; International transactions 3.5% + fixed fee
• Recurring Payments: Via multi-use tokens
• Countries Supported: +50
• Currencies Supported: +130
• Card Types Supported: 150 payment modes
• Authorization: Indirect
• On-Form Payments: Indirect
  

Best For: Businesses operating in multiple regions with diverse payment needs, though the indirect payment process might affect user experience.

PayFast

PayFast is tailored for South African businesses with competitive local transaction fees and support for recurring payments through card tokenization. Its indirect payment process might be a drawback for a seamless user experience.

• Monthly Fees: $0
• Transaction Fees: 3.2% + R2.00 for card payments; 2% + minimum R2.00 for Instant EFT
• Recurring Payments: Yes, via card tokenization
• Countries Supported: South Africa
• Currencies Supported: Multi-currency pricing in South African rand (ZAR)
• Card Types Supported: 8
• Authorization: Indirect
• On-Form Payments: Indirect
  

Best For: South African businesses needing local payment processing with support for recurring payments.

FreshBooks

FreshBooks offers integration with various payment gateways for recurring billing and is ideal for businesses that need robust invoicing capabilities. The monthly fee and indirect payment options might limit its attractiveness for some users.

• Monthly Fees: From $17
• Transaction Fees: 2.9% + 30 cents (Visa/Mastercard/Discover/Apple Pay); 3.5% + 30 cents (Amex); 1% for ACH transfers (U.S. only)
• Recurring Payments: Via recurrent template or retainer
• Countries Supported: +160
• Currencies Supported: +25
• Card Types Supported: 4
• Authorization: Indirect (direct only with 3rd party integrations like Stripe)
• On-Form Payments: Indirect
  

Best For: Service-based businesses needing integrated invoicing and payment solutions with a focus on recurring billing.

Choosing the Right Payment Processor

Selecting the right payment processor for your online form builder depends on your specific needs. Stripe and PayPal are excellent all-rounders with global reach and rich features, making them ideal for most businesses.
In the end, it’s up to you to pick the payment processor that best suits your needs. And knowing the most important details of how these payment gateways work can help you make the best decision.

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