Credit Card Processing

March 11, 2018

You are launching your E-Commerce website, and you probably are ready to accept payments. A few options appear to you but you are not 100% sure of which one is the right for you. Credit card payment is the obvious choice, now we will see what payment gateways are available for you.

Paypal (Accounts and Credit Card)

First of all, would I dare to say everyone has a PayPal account, most likely. PayPal was created in 1998, and merged in 2000 with, founded by Elon Musk (Tesla, SpaceX…). In 2002 PayPal was bought out by Ebay for $1.5 Billion, which at the time was huge, and a guarantee. This is when The X Concept was building its first E-Commerce website for Hot Sails Maui, using PayPal as unique mode of payment. Since then we always include PayPal as an option for payment as it’s quite easy to setup, and works internationally. Their fees are 2.9% + $0.30 per transaction for US transactions, and 4.4% + a fixed transaction fee for international sales.

credit card

Stripe (Credit Card Processing)

You can use Stripe‘s services in 21 countries. Meaning that if you are not in any of those 21 countries, you will not be able to use Stripe. For major credit cards, their US transactions fees are 2.9% + $0.30 fee, and 3.9% + $0.30 fee for international transactions.

Square (Credit Card Processing)

Square started in 2009 with a little card reader you could connect to your Smartphone making it easy for you to collect payments in person. They offer E-Commerce payments within the United States at a rate of 2.9% + $0.30 fee. At the time I’m writing this article you cannot proceed with international transactions since they only accept cards with US Billing addresses. Now, you will be able to accept payments from them in person using their sliding card reader as well as a chip and tap (Apple Pay…) terminal (2.75% and 0.15$ fee) or their register setup if you have a brick and mortar location. This would be beneficial for you in the case you have both direct transactions and e-commerce transactions.

credit card

All those services listed above do not ask for any membership fee. You don’t need to have SSL for PayPal. But if you are doing E-commerce transactions on your website, it’s always better to have. SSL means Secure Socket Layer, it is a cryptographic protocol that provides communication security. (Credit Card Processing) has been the leading credit card processing gateway in the early days of the internet. Founded in 1996 it was the precursor of all the services listed above. Their fees are 2.9% + $0.30 fee for domestic transactions, on the other hand there is a $49 setup fee and a $25 monthly gateway fee. They are a subsidiary of VISA, and your bank merchant services will recommend you this service. Their international transaction rates are 4.4% + $0.30 fee.

In Conclusion, you have a few options listed above. Now there has to be many more payment processing gateways that some of you would rather use. These are a good start to setup your Woocommerce website or other E-Commerce platforms you are using.

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