A payment system is a vital link in any business, especially when it comes to working in international markets. Reliable payment platforms help accept payments from different countries, support multiple currencies, and provide a high level of security. In this article, we will look at the best international solutions, such as PayPal, Square, and other popular services that have already proven themselves around the world. In addition, more and more companies are relying on custom payment solutions, which allow them to adapt payment processes to specific markets, audiences, and business models. This makes the payment infrastructure not just a tool, but a real competitive advantage.
How Do Electronic Payment Systems Work
Electronic payment systems (EPS) simplify international payments, allowing companies and individuals to quickly send and receive money online. Using such platforms saves time, ensures stable communication between businesses and customers, and reduces barriers to entering foreign markets.
With EPS, you can accept payments from abroad directly on the site, from anywhere in the world. This makes them an indispensable tool for online trading and international cooperation.
What to Look For When Choosing a Payment System?
Choosing a suitable payment system is an important step for a company. The speed of payments, user convenience, and the level of commission costs depend on it.
Before connecting, you should pay attention to:
- Reputation. Choose proven services with a stable history and reviews.
- Commission. Compare rates for transfers, conversion, and maintenance.
- Relevance to customers. Make sure that the system is popular and convenient for your target audience.
- Convenience. Availability of a mobile application, user-friendly interface, and support in the required languages.
- Withdrawal times. Check how long it takes to transfer funds to your account.
- Connection process. Check how quickly and easily you can register and verify.
Taking these parameters into account, you will be able to choose a payment solution that will be convenient for you and your clients and will also help you develop your business without unnecessary costs and complications.
The Most Popular Payment Systems
Payment systems are an integral part of the modern economy. Let’s look at the most popular systems.
Stripe
Stripe is an international payment system focused on business projects and e-commerce. It allows you to quickly connect a payment gateway, create invoices and payment links, and set up regular payments to customers and partners.
Useful features include the Stripe Radar anti-fraud system, which helps reduce the risk of fraud, and a built-in dispute tool that simplifies the resolution of conflicts between buyers and sellers.
The basic commission is 1.5% + €0.25 per transaction for cards from the European Economic Area and 2.5% + €0.25 for cards from the UK. Large companies can agree on individual terms. Payments are possible both to bank cards and to e-wallets, including the option with instant crediting.
PayPal
PayPal is one of the most famous international payment systems with over 400 million active users. The service has been operating for over 20 years, supports over 100 currencies, and is highly reliable and secure. PayPal is not only a payment gateway for businesses, but also a convenient e-wallet for individuals.
The transaction fee depends on the country, currency, and payment amount and ranges from 2.29% to 3.49% and a fixed surcharge of $0.09-$0.49 for each transaction. Additional features such as Payments Advanced and Payments Pro are provided on a paid basis – $5 and $30 per month, respectively.
PayPal is suitable for online stores, freelancers, and services working with an international audience, offering a convenient and understandable way to accept payments around the world.
Verifone (2Checkout)
Verifone (2Checkout) is an international payment platform that allows companies to accept payments from customers around the world. The basic rate is 3.5% + $0.35 from each transaction.
Additional features include connecting recurring payments, setting up a shopping cart for an online store, and access to various payment methods. The system is suitable for small and medium businesses that are entering the international market and are looking for a universal solution for online payments.
Square
Square is a payment system that offers not only online payment acceptance but also a wide range of additional tools for business. Among them are creating a shopping cart, invoicing, hosting an online store, as well as POS terminals for offline trading.
The service supports payment in installments via Afterpay, which helps increase online sales and attract more customers.
The basic transaction fee is 2.6% + $0.10. Three tariff plans are available: Free (free), Plus ($29 per month), and Premium (with individual conditions after consultation. Square is suitable for both beginners and developed projects in the field of e-commerce).
Braintree
Braintree is a payment service from PayPal. It operates in more than 45 countries and supports more than 130 currencies. It has advanced capabilities for automating internal processes, building analytics, and ensuring security.
Suitable for companies that value flexible technical solutions and reliable data protection. Commission — 2.59% + $0.49 per transaction. Supports withdrawals to cards, wallets, and other platforms.
Shopify Payments
Shopify Payments is a service from the online store builder Shopify, created on the basis of Stripe. It is fully integrated into the store interface, so the client does not need to go to third-party sites (the order is placed on the spot). This speeds up the purchase process and reduces the likelihood of payment refusal. It is important to note that Shopify Payments is intended exclusively for stores on the Shopify platform and is not suitable for use on third-party sites or marketplaces.
The commission ranges from 1.6% to 2.0% + €0.25 depending on the tariff plan (Basic, Shopify, Advanced, Plus). Additionally, you can connect to third-party payment systems.
Conclusion
Choosing the right international payment platform is an investment in customer convenience and stability of financial processes. Regardless of the scale of the business, it is important to rely on solutions that provide not only reliability but also flexibility in customization. Custom payment products are becoming increasingly popular due to their ability to adapt to the unique requirements of business and the market. Among such solutions, it is worth noting Tranzzo – a payment platform that offers seamless international and local payment methods. Tranzzo simplifies the shopping process for customers around the world, ensuring security and maximum convenience at every stage of payment.
