Selecting a payment gateway goes beyond processing transactions. Your selection has major implications for customer experience, security, and ultimately your bottom line. Not only will a payment solution that is well-integrated add liability and trust, but it will also convert more customers. What follows is a closer look at the leading payment gateways for Magento stores—along with some elements to consider in making your choice.
1. PayPal
Why it’s a great option:
PayPal is one of the most prominent payment brands in the world. It also provides standard and express checkout through Magento’s official modules. PayPal also supports numerous currencies and offers strong buyer and seller protection, allowing users to make payments using credit cards, debit cards, or their PayPal balance.
Best for: Retailers who want fast setup time, have buyer trust as a global brand, and cover as much payment option as possible. Appropriate for merchants who value speed and ease of set up, over customization.
2. Stripe
Why it’s a great option:
Stripe is a developer-focused payment gateway platform with an extensive array of API’s, retainers, with the capabilities to offer extensive checks and features to their merchants. Stripe offers built-in fraud detection called Stripe Radar, as well as wallet services such as Apple Pay and Google Pay, and the ability to bill on a recurring basis. To sweeten the deal, it is completely upfront on pricing, offers extensive graphing and real-time analytics.
Best for: Businesses that expect flexible, tech-forward checkout experiences, as well as merchants who want to bill on a recurring basis.
3. Braintree
Why would you choose it?
As a subsidiary of PayPal, Braintree offers a lot of payment options, including PayPal, Venmo, Apple Pay, and Google Pay, all through one integration. It offers tools for fraud protection, recurring billing, multi-currency, mobile- responsive checkout.
Best for: Merchants who want to provide a variety of payment methods in a mobile-first payment experience that only requires one integration.
4. Authorize.Net
Why would you choose it?
Authorize.Net is well known for its solid fraud protection and PCI compliance. It also supports e-checks, recurring billing, and has a PCI Certified integration with Magento, which means it was developed with security in mind for the safety of its users – primarily U.S. and Canadian merchants.
Best for: North American businesses who are looking for a trusted and compliant payment solution that they can use with confidence knowing it has safety and security measures in place.
5. Adyen
Why would you choose it?
was built for large scale globalization for businesses in mind, and is very flexible when it comes to payment method types and currencies – well over 250! They provide enhanced fraud protection, respect European data residency laws, and offer seamless integration with Magento 2, and in-depth analytics.
Best for: High-volume or international merchants who are looking for a single payment gateway with enterprise-level features and are provided with one solution.
6. Square
Why it is a good option:
Square offers transparent flat rate pricing and one integrated online/offline payment ecosystem. Their Magento integrations allow merchants to easily sync payments and inventory for businesses with physical locations.
When it’s ideal:
This is best for retailers that have both online and physical sales, and are looking for integrated commerce.
Selecting the Right Gateway: Key Factors
| Criteria | Considerations |
|---|---|
| Global Reach | Does it support your target countries and currencies? |
| Fee Structure | Are setup, monthly, and transaction fees transparent and reasonable? |
| Security & Compliance | Does it meet PCI standards and offer effective fraud protection? |
| Mobile Readiness | Does it support mobile wallets like Apple Pay and Google Pay? |
| Magento Integration | Does a reliable Magento plugin exist? Is technical support available? |
What else you should consider:
- The Customer Experience: A one-click checkout option or guest checkout can reduce cart abandonment significantly.
- Recurring Billing Support: Required if your item or service is subscription based.
- Customization Needs: Consider if your business has special fields they need, or if your checkout flow need to be branded.
- Analytics & Reporting: Choose platforms that will provide the most analytics and insights on transactions as possible to make better informed decisions.
Final Thoughts:
Choosing a payment gateway for Magento means aligning its features with your business goals—whether global reach, better cash flow, or higher conversions. PayPal and Stripe are easy to set up. Braintree, Adyen, and Authorize.Net offer premium, secure solutions. Square works best for businesses using a unified online and in-store model.
