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Top 11 Payment Processing Companies in 2022

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Top 11 Payment Processing Companies in 2022

Which payment processing companies should you choose for your business? Many business leaders struggle with this question. After all, payment gateway and digital payment can be fierce, especially if you are not a regular user.

With dozens of companies offering credit card processing and online payment solutions to choose from, it will be difficult for merchants to make decisions.

Here, we’ve compiled a list of the industry’s leading payment companies to help you decide.


Table of Content


List of 11 payment processing companies with their pros & cons

  • Helcim
  • GETTRX
  • Paypal
  • Stripe
  • Adyen
  • Payline
  • 2checkout
  • Authorize.net
  • Paymentcloud
  • Clover
  • Alipay

How to pick a payment gateway

FAQs

Conclusion

Helcim is one of the top competitors in the payments gateway market. It enables merchants and sellers to grow their businesses with hassle-free payment processing solutions.

Pros

  • Hassle-free to use
  • No monthly fee
  • Quick and convenient for customers

Cons

  • Complex user interface
  • Not suitable for high-risk industries

1643358312 139 Top 11 Payment Processing Companies in 2022

GETTRX is a best-in-class gateway. So whether you have an eCommerce platform or online shop with Edgepay, you can choose the right integration for your business.

Pros

  • Customized POS options
  • Secure online payments
  • Non-profit solutions

Cons

NA

1643358312 91 Top 11 Payment Processing Companies in 2022

PayPal allows access to millions of PayPal sellers and merchants for payment processing. It is a market player of some of the world’s most prominent digital merchants, including Airbnb and Uber.

Pros

  • Fast, hassle-free setup
  • Offers mobile wallet options in-store
  • No monthly fees or contracts

Cons

  • Not suited for a high volume of transactions
  • It doesn’t have 24/7 phone support

1643358312 119 Top 11 Payment Processing Companies in 2022

Stripe has been one of the renowned payment gateways in the market for a decade. Transparent fee structure, smooth integration with all major e-commerce systems, and easy-to-use interface have been essential factors in helping Stripe become one of the top options for customers.

Stripe enables you to manage one-off payments, invoice on a recurring basis, or even handle in-person payments.

Stripe also ensures payment processing security and securely saves all credit card numbers and transaction details (using good AES-256 encryption keys).

Pros

  • Hundreds of integrations with business software
  • Custom pricing available
  • Accepts all mobile wallet payments

Cons

  • High-risk businesses must wait seven days for payment
  • Phone support upon request
  • Fraudulent activity may result in a hold on your funds

1643358312 209 Top 11 Payment Processing Companies in 2022

Adyen enables you to accept every payment made to your company from a single platform and provides you tools to manage risk and track results.

Adyen accepts more than 150 global currencies and 250 payment methods. Further, it lets you analyze transaction data to benefit from “data-rich insights.”

Pros

  • Ensure smooth streamline process
  • Ensure managing risk

Cons

  • No support for PayPal payments
  • Mixed reviews on functionality

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Payline has been in the payment gateway business for a decade. It offers transparent fees and a fruitful interchange-plus pricing model.

It is a custom payment gateway that allows you to set things up like recurring payments or other non-standard payment schemes. Also, it provides mobile solutions designed to accept payments via mobile apps.

Pros

  • User-friendly interface
  • The transparent interchange-plus pricing model

Cons

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2checkout offers services in over 180 countries. It provides a comprehensive solution to ensure the payment process seamlessly. Also, it will let you access an advanced platform where you can manage your business’ finances and e-commerce efforts.

Pros

  • Good customer support
  • Robust API

Cons

  • Slow process
  • Need improvement in security protection

1643358312 910 Top 11 Payment Processing Companies in 2022

Authorize.Net is a recognizable and oldest payment gateway operating on the web. It has made the payment process hassle-free for businesses of any kind to accept payments on the web and in person.

As per your business needs, you can use Authorize.Net to issue invoices, set up recurring payments, and simplify the checkout process.

Pros

  • Ensure smooth streamline process
  • Ensure managing risk

Cons

  • No support for PayPal payments
  • Mixed reviews on functionality

1643358312 204 Top 11 Payment Processing Companies in 2022

PaymentCloud supports various customer bases and offers solutions for eCommerce stores and other online business needs. Since high-risk companies face many barriers, they ensure the process seamlessly mitigates security risk.

Pros

  • Fast application approval
  • Easy to set up
  • Next day funding
  • Dedicated account manager

Cons

  • No pricing information on the website
  • Pricing varies by risk
  • May face early termination fees

1643358312 372 Top 11 Payment Processing Companies in 2022

Clover offers an extensive range of POS systems that work with its credit card processing service. It processes payments using its own POS systems. In addition, it provides four credit card processing plans: Register, Register Lite, Table-Service Restaurant, and Counter-Service Restaurant.

Pros

  • Easy to use
  • Smooth processing

Cons

  • Complex dashboard
  • Customer service needs improvement

1643358313 358 Top 11 Payment Processing Companies in 2022

Alipay is a popular payment platform launched by Alibaba and has grown as an Eastern payments player. It can process payments through online, mobile, and in-store channels. The company claims over 1 billion users.

Pros

  • Real-time monitoring
  • Risk management

Cons

  • Stores detailed transaction history of users
  • Average reviews on functionality

How to Pick a Payment Gateway

Let’s find out what to look for in a payment gateway;

  • Does the gateway support your eCommerce platform?
  • Do you need more than one payment gateway?
  • What features do you need, specifically?
  • Does the payment gateway support the payment methods your customer base uses?
  • What fees are acceptable?
  • Does the provider have a good reputation?
  • Are you in a high-risk business?

Frequently Asked Questions (FAQs)

How Does a Payment Gateway Work?

Payment gateways enable buyers and merchants (and their banks) to carry out transactions digitally. For example, after swiping a card, the payment gateway makes sure the card is authentic, makes sure that they have enough money to cover the transaction, and lets the customer know if the purchase is accepted or declined.

What is the Difference Between Payment Gateways and Payment Processors?

Payment gateways and payment processors are alike because they connect the merchant’s and customer’s banks. However, payment gateways can identify that the cardholder is who they say they are, while payment processors alone cannot.

Do I need a Payment Gateway?

Payment gateways used to be beneficial for eCommerce stores, but today they are a short-term necessity for almost all businesses. Especially after the covid-19 impact, people started considering digital payments and e-commerce and the declining usage of cash payments.

Over to You!

So, these are a few popular payment processing companies out there. Some companies have great advantages over others and do the required work seamlessly. Before choosing any of these options, ensure to consider their pros and cons to determine if they can match your business needs.


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The Future of Content Success Is Social

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The Future of Content Success Is Social

Here’s a challenge: search “SEO RFP” on Google. Click on the results, and tell me how similar they are.

We did the same thing every other SEO does: We asked, “What words are thematically relevant?” Which themes have my competitors missed?” How can I put them in?” AND “How can I do everything just slightly better than they can?”

Then they do the same, and it becomes a cycle of beating mediocre content with slightly less mediocre content.

When I looked at our high-ranking content, I felt uncomfortable. Yes, it ranked, but it wasn’t overly helpful compared to everything else that ranked.

Ranking isn’t the job to be done; it is just a proxy.

Why would a high-ranking keyword make me feel uncomfortable? Isn’t that the whole freaking job to be done? Not for me. The job to be done is to help educate people, and ranking is a byproduct of doing that well.

I looked at our own content, and I put myself in the seat of a searcher, not an SEO; I looked at the top four rankings and decided that our content felt easy, almost ChatGPT-ish. It was predictable, it was repeatable, and it lacked hot takes and spicy punches.

So, I removed 80% of the content and replaced it with the 38 questions I would ask if I was hiring an SEO. I’m a 25-year SME, and I know what I would be looking for in these turbulent times. I wanted to write the questions that didn’t exist on anything ranking in the top ten. This was a risk, why? Because, semantically, I was going against what Google was likely expecting to see on this topic. This is when Mike King told me about information gain. Google will give you a boost in ranking signals if you bring it new info. Maybe breaking out of the sea of sameness + some social signals could be a key factor in improving rankings on top of doing the traditional SEO work.

What’s worth more?

Ten visits to my SEO RFP post from people to my content via a private procurement WhatsApp group or LinkedIn group?

One hundred people to the same content from search?

I had to make a call, and I was willing to lose rankings (that were getting low traffic but highly valued traffic) to write something that when people read it, they thought enough about it to share it in emails, groups, etc.

SME as the unlock to standout content?

I literally just asked myself, “Wil, what would you ask yourself if you were hiring an SEO company? Then I riffed for 6—8 hours and had tons of chats with ChatGPT. I was asking ChatGPT to get me thinking differently. Things like, “what would create the most value?” I never constrained myself to “what is the search volume,” I started with the riffs.

If I was going to lose my rankings, I had to socially promote it so people knew it existed. That was an unlock, too, if you go this route. It’s work, you are now going to rely on spikes from social, so having a reason to update it and put it back in social is very important.

Most of my “followers” aren’t looking for SEO services as they are digital marketers themselves. So I didn’t expect this post to take off HUGLEY, but given the content, I was shocked at how well it did and how much engagement it got from real actual people.

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7 Things Creators Should Know About Marketing Their Book

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7 Things Creators Should Know About Marketing Their Book

Writing a book is a gargantuan task, and reaching the finish line is a feat equal to summiting a mountain.

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Being position-less secures a marketer’s position for a lifetime

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Optimove Positionless Marketer Optimove

On March 20, 2024, the Position-less Marketer was introduced on MarTech.org and my keynote address at Optimove’s user conference.

Since that initial announcement, we have introduced the term “Position-less Marketer” to hundreds of leading marketing executives and learned that readers and the audience interpreted it in several ways. This article will document a few of those interpretations and clarify what “position-less” means regarding marketing prowess.

As a reminder, data analytics and AI, integrated marketing platforms, automation and more make the Position-less Marketer possible. Plus, new generative AI tools like ChatGPT, Canna-GPT, Github, Copilot and DALL-E offer human access to powerful new capabilities that generate computer code, images, songs and videos, respectively, with human guidance.

Position-less Marketer does not mean a marketer without a role; quite the opposite

Speaking with a senior-level marketer at a global retailer, their first interpretation may be a marketer without a role/position. This was a first-glance definition from more than 60% of the marketers who first heard the term. But on hearing the story and relating it to “be position-less” in other professions, including music and sports, most understood it as a multidimensional marketer — or, as we noted, realizing your multipotentiality. 

One executive said, phrasing position-less in a way that clarified it for me was “unlocking your multidimensionality.” She said, “I like this phrase immensely.” In reality, the word we used was “multipotentiality,” and the fact that she landed on multidimensionality is correct. As we noted, you can do more than one thing.

The other 40% of marketing executives did think of the “Position-less Marketer” as a marketing professional who is not confined or defined by traditional marketing roles or boundaries. In that sense, they are not focused only on branding or digital marketing; instead, they are versatile and agile enough to adjust to the new conditions created by the tools that new technology has to offer. As a result, the Position-less Marketer should be comfortable working across channels, platforms and strategies, integrating different approaches to achieve marketing goals effectively.

Navigating the spectrum: Balancing specialization and Position-less Marketing

Some of the most in-depth feedback came from data analytic experts from consulting firms and Chief Marketing Officers who took a more holistic view.

Most discussions of the “Position-less Marketer” concept began with a nuanced perspective on the dichotomy between entrepreneurial companies and large enterprises.

They noted that entrepreneurial companies are agile and innovative, but lack scalability and efficiency. Conversely, large enterprises excel at execution but struggle with innovation due to rigid processes.

Drawing parallels, many related this to marketing functionality, with specialists excelling in their domain, but needing a more holistic perspective and Position-less Marketers having a broader understanding but needing deep expertise.

Some argued that neither extreme is ideal and emphasized the importance of balancing specialization and generalization based on the company’s growth stage and competitive landscape.

They highlight the need for leaders to protect processes while fostering innovation, citing Steve Jobs’ approach of creating separate teams to drive innovation within Apple. They stress the significance of breaking down silos and encouraging collaboration across functions, even if it means challenging existing paradigms.

Ultimately, these experts recommended adopting a Position-less Marketing approach as a competitive advantage in today’s landscape, where tight specialization is common. They suggest that by connecting dots across different functions, companies can offer unique value to customers. However, they caution against viewing generalization as an absolute solution, emphasizing the importance of context and competitive positioning.

These marketing leaders advocate for a balanced marketing approach that leverages specialization and generalization to drive innovation and competitive advantage while acknowledging the need to adapt strategies based on industry dynamics and competitive positioning.

Be position-less, but not too position-less — realize your multipotentiality

This supports what was noted in the March 20th article: to be position-less, but not too position-less. When we realize our multipotentiality and multidimensionality, we excel as humans. AI becomes an augmentation.

But just because you can individually execute on all cylinders in marketing and perform data analytics, writing, graphics and more from your desktop does not mean you should.

Learn when being position-less is best for the organization and when it isn’t. Just because you can write copy with ChatGPT does not mean you will write with the same skill and finesse as a professional copywriter. So be position-less, but not too position-less.

Position-less vs. being pigeonholed

At the same time, if you are a manager, do not pigeonhole people. Let them spread their wings using today’s latest AI tools for human augmentation.

For managers, finding the right balance between guiding marketing pros to be position-less and, at other times, holding their position as specialists and bringing in specialists from different marketing disciplines will take a lot of work. We are at the beginning of this new era. However, working toward the right balance is a step forward in a new world where humans and AI work hand-in-hand to optimize marketing teams.

We are at a pivot point for the marketing profession. Those who can be position-less and managers who can optimize teams with flawless position-less execution will secure their position for a lifetime.

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