Choosing your payment processor is an important step as this depends on multiple factors:
- Do you have a registered company?
- Which country is your company located in?
- Which countries are you selling to?
- What payment methods you want to activate: Visa, MasterCard, Amex, Check, Cash on delivery, Bank wire, PayPal,..
- What type of products are you selling? Virtual Products? Services? Jewelry? Food & Beverages? Electronics? Clothing? Tobacco & Alcohol? Medical ? …
The first intuitive payment method is Cash On Delivery or so called COD, which you can use if you are delivering into the same country where you have your products stocked and have a deal with a shipping company who will collect the payment for you and secure it.
The second payment processor is PayPal, but this comes with many restrictions depending on which country you are located in, PayPal is not available for all countries.
If you are selling physical products and have a company registered in one of these countries. The best fit for you is Stripe. This is one of the best payment platforms for E-Commerce websites with a reasonable transaction fees, and large selection payments methods such Visa, Amex, Apple Pay, Google Pay, and much more.
There are a lot of Payment Platforms but if you are eligible to use Stripe, we strongly recommend. And if you are not check between the below payments:
- Middle East Area: PayFort / now called Amazon Payment Service
- Africa Area: Paystack
- America/Europe: GlobalPay , Authorize.net, BrainTree
- Other Recommended Payments Platforms: 2Checkouts (Check 2Checkouts for Prestashop)
Meanwhile, if you want to consider a Payment Platform to manage your online banking, bank transfers and payouts, you can consider: Payoneer or Transferwise.
“Consider registering a company to trade online.”