When choosing a payment gateway, it is important to consider whether your business would benefit from an on-site or off-site service. At OpenPlay, we recommend sticking with on-site, so payments remain on your website and the overall process feels streamlined and trustworthy. The alternative leads your customers to the payment gateway website to complete the purchase. This is often the cheaper option, but it leads to more customers abandoning their baskets before buying.
Australia has a lot of companies to choose from, with some significantly superior to others. We’ve compiled a list of our top five gateways. Fees are calculated per transaction, with none of the following companies charging set-up or monthly rates.
Stripe is the gateway that we, at OpenPlay, recommend. Founded in 2010, Stripe is fast becoming the popular choice, due to its quick set-up (just five minutes) and easy integration with e-commerce websites. Stripe only offers onsite payments, preferring to keep your customers on your website, in order to increase the number of completed purchases. Stripe is also ahead of the game in terms of features, with innovative developments being rolled out all the time. It has the capacity to save data, so recurred billing (e.g. monthly memberships) is automatic and repeat purchases are speedy. It is also the most efficient system for mobile payments.
*Once you’ve set up your account, it will be integrated with your OpenPlay account and seamless booking will begin.
Transaction fee: 1.75% plus 30c (domestic payments), 2.9% plus 30c (AMEX and international payments)
eWay has been in Australia for 20 years. It is well established in the country, managing 25% of the local online market. Not only is it a safe choice for Aussie businesses, but they trade in seven other countries. eWay is relatively easy to set up, with four steps to completion. You can do this at your own pace or with eWay phone assistance. Their 24/7 phone support, managed by ‘real people’, is one of their best features, making it feel like an approachable, local brand.
Transaction fee: 1.9% plus 20c (Visa and Mastercard), 2.6% (other cards).
PayPal is renowned around the world, and thus is a trusted and respected global brand. Operating in more than 200 countries, it is perhaps the only payment gateway that a layman could name. PayPal works as an external window, on which customers can add their card details or sign in to their PayPal account. For PayPal customers the transaction is quick and simple. For others the pop up window can be off-putting, as it is evident that an external service is in operation. This simply makes the overall transaction process feel clunkier.
Transaction fee: 2.6% plus 30c to 1.1% plus 30c (domestic payments), 3.6% plus 30c to 2.1% plus 30c (international fees).
SecurePay has been run by the national post office since 1999. As a result, it is well trusted by Australians, and used by big brands such as Bupa and Estée Lauder. It is also suitable for small companies, although the pricing structure is marginally higher than brands such as Stripe and Braintree (unless your transactions are very small). Like the others, it has the option of adding bill payments and recurring payments. As the name suggests, SecurePay offers an extensive amount of data security and advanced fraud protection.
Transaction fee: 2.4% on domestic MasterCard,Visa. (Amex, PayPal and Diner Club can all be integrated with the system with the added fee of each companies individual rates).
Operated by PayPal, Braintree has a reliable reputation and has access to the hundreds of countries using PayPal. Braintree differs from its operating company, in that it integrates directly into your website, making it an on-site service. One of the big perks of this gateway is that payments are made into your account within two business days. Braintree accepts over 130 currencies, even welcoming the notorious cryptocurrency, Bitcoin!
Transaction fee: 1.75% plus $0.30 (for standard businesses looking to grow). Prices on demand for their ‘Enterprise’ option, which suits established businesses ready to scale.
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