Adding Payments to Your Website: Choosing the Right Payment Platform
What is a payment platform and why do you need it? If you run an online store or your website has the option of in-site purchases, you inevitably need to accept payments online.
Adding Payments to Your Website: Choosing the Right Payment Platform What is a payment platform and why do you need it? If you run an online store or your website has the option of in-site purchases, you inevitably need to accept payments online. According to the experts’ predictions, 2019 will see a double increase of mobile payments. Also, the way the customers pay will change greatly due to the improved usability. It is essential to make your online payments as user-friendly as possible since it will directly influence the number of online purchases on your website. Online payments can be enabled through a payment platform integrated into your website. A payment platform or a payment gateway is the online counterpart of POS terminals which facilitates the transaction, verifies the funds, and securely transfers them to your account keeping customer’s information private.
Which Platform to Choose?
With a variety of payment platform providers offering their services today, your main task is to choose the one that will fit the needs of your business and your customers. In order to make the right choice, you should know which features you should pay your attention to. Generally, you should take into account platform’s currency support, pricing, level of security and reliability, solutions for mobile devices. Also, check out whether you need to have a merchant account to use a particular platform (most modern platforms don’t require it). We offer you a brief summary for each of the most popular payment platforms you can use for your business.
- Support of major payment methods (PayPal, Bitcoin, Apple Pay, and Android Pay)
- Credit and debit card integration
- A drop-in checkout UI through its v.zero SDK, which works across all platforms
- A One Touch feature that allows the users to log in and make purchases without re-entering their usernames, passwords, or credit card details. The feature is implemented by using a one-line code: [provider createPaymentMethod:BTPaymentProviderTypePayPal]
The setup of Braintree is relatively easy: you only have to enter some lines of code to start using it. Braintree’s documentation is subdivided according to a particular platform (iOS, Android, web), with web broken down by various individual languages, such as PHP, Ruby, Node, etc. To get started you need to download the appropriate SDK, then generate a token, and add a drop-in UI depending on the platform you’re using.
Braintree offers quick checkouts where customers’ sensitive information is securely collected and remembered. There is a smart feature called the Braintree Vault which remembers user’s information once and for all eliminating the need to re-enter it later.
Braintree for businesses
Braintree prevents any kind of fraud complying with PCI Security Standards. It uses Hosted Fields for entering credit card numbers, where the text fields are hosted remotely instead of on the device/website (a PCI requirement).
Braintree supports repeated payments by storing the user’s information securely in the Vault and taking care of all the billing cycle payments. Also, it allows for adding discounts, promotional periods, and rewards, as well as managing failed transactions by re-trying past-due subscriptions. The Braintree Marketplace allows companies to split their payments among various providers.
- Mobile SDK, a native app support SDK, allowing apps to easily accept credit card payments both for immediate and deferred payments
- Braintree’s v.zero client-side SDK to accept payments from Bitcoin and all major credit cards
Due to the variety of PayPal tools, the setup can be either easy or complicated. PayPal also hosts its SDKs on Github having greatly improved its usability over the last years.
PayPal currently has millions of customers. It ensures high level of security for your sensitive data while processing your transactions. PayPal has a feature similar to Braintree’s Vault called Express Checkout. It provides separate storage of the client’s sensitive information, allowing buyers to purchase before passing on control to PayPal’s Checkout UI, and then returning to the website. Working closely with dozens of vendors and stores to provide discounts PayPal provides a unique ecosystem. There are even brand credit cards offered by PayPal.
PayPal and businesses
PayPal offers the ability to split payments between merchants and providers, leveraging Braintree’s Marketplace, in addition to an Adaptive Payments API for international payments in any country where PayPal is supported.