2Checkout – comparatively examining what they have to offer your business. In this section, we’ll breakdown the details of Stripe vs. Having seen how the payment gateways work, let’s take a closer look at some critical factors to consider when choosing a payment gateway. Stripe vs Braintree vs 2Checkout – Comprehensive Comparison ![]() Also, Stripe, Braintree, and 2Checkout require users to have an account to make transactions. Notably, the time taken for the money to reflect in your bank account depends on the payment gateway you have used. If not, the customer receives a message notifying them that their card is declined hence the transaction is cancelled and unsuccessful. If the card payment is approved, money is credited to the service provider, meaning that the transaction is successful. Subsequently, the payment gateway instantly receives and forwards the response to the host website, then to the customer. The bank will either approve or decline the payment request and after that, send its response back to the payment gateway. The payment gateway then encrypts the credit card data and forwards it to the customer’s bank’s servers for authorization. There on, the host website forwards these card details to the customer’s preferred payment gateway. It’s a relatively simple concept that begins with users buying service to choosing their preferred payment method and keying in their card details and passwords. Stripe, Braintree, and 2Checkout fundamentally work in the same manner, with only a few differences. Stripe vs Braintree vs 2Checkout – How Do They Work? 2Checkout also supports diverse currencies and languages to streamline payment processing for buyers and sellers. It features an easy-to-use interface and extensive capabilities. 2CheckoutĪlso known as 2CO, 2Checkout is a monetization platform that allows online merchants to receive online payments from their customers locally or internationally. Moreover, it accepts a variety of payment methods, including credit card, debit card, PayPal, bitcoins, and many more. It replaces the standard model of sourcing both payment gateways and merchant accounts from various providers. BraintreeĪ subsidiary of PayPal since 2013, Braintree is a payment gateway software that allows for seamless payment transactions through mobile applications and web systems for e-commerce companies.Īside from providing users with a payment gateway, Braintree also acts as a merchant account, making it a full-stack payments platform. Stripe is a full-stack payment processor serving both as a payment gateway and a third-party payment processor. Stripe allows both individual users and businesses to make online payments using credit or debit card transactions as well as other online payment methods such as Automated Clearing House Network (ACHs) transfers. Stripeįounded in 2010, Stripe is a powerful payment processing platform that helps with online money transfers. 2Checkout – A General Overviewīefore putting the three payment gateways to a head to head comparison, let us first have a glimpse of what they are, and how they function. 2Checkout showdown and how they level up to each other to help you choose a payment gateway that is better suited for your business. Well, fret no more! This article carefully examines the Stripe vs. But which of these should you use to receive and send payments for your business? If you do quick research on payment gateways right now, you’ll come across some industry-leading brands, including Stripe, Braintree, and 2Checkout. ![]() Essentially, they act as third-parties between online merchants and their customers by allowing secure online money transfer. They, therefore, facilitate online transactions between online companies and their customers. Payment gateways are software that securely authorizes payments from a customers’ bank account to online businesses selling a service. But what exactly are payment gateways? What are Payment Gateways? However, you cannot shower online transactions with all the praise without crediting the underlying payment gateways that have become fundamental for their huge success. Fast forward, by 2040, around 95% of all purchases are expected to be via e-commerce. In the process, they have gained many consumers’ deep trust and are bound to increasingly thrive! So much so that there are expected to be over 2 billion digital buyers in the world in 2020. Spiked by increased digital growth, global online transactions have made quick upward progress. Stripe vs Braintree vs 2Checkout Payment Gateways
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