Best 5 payment gateways for small businesses 2023

by | Feb 3, 2023 | Payment Gateway

Home » Blog » Payment Gateway » Best 5 payment gateways for small businesses 2023
best payment gateway

In this article, we will share with you the best payment gateway for small business. Products grouped under the broad category of Payment Gateways are comparable in many respects and assist businesses of all sizes in resolving operational issues.
However, compared to businesses of other sizes, small businesses have different features, pricing, setup, and installation. For this reason, we match customers with the best Small Business Payment Gateways based on their requirements.

To find the best options in the Small Business Payment Gateways category, compare product ratings based on reviews from enterprise users or get in touch with one of G2’s buying advisors.

A product must have at least 10 reviews written by reviewers who are small businesses in order to be eligible for inclusion in the best payment gateway for small business category in addition to being eligible for inclusion in the Payment Gateways category.

Also read: Best offshore high risk merchant account providers

Payment gateway: User satisfaction parameters

The top four elements that positively affect customer satisfaction for Payment Gateways goods are “Level 3”, “Levels 1 & 2,” and “E-commerce Integration.”
These variables are chosen by an algorithm that chooses the characteristics in this category that are most likely to predict customer pleasure.

Now we’ll take a deep insight into the top 5 best payment gateway for small business and how will they benefit your company:

1. Paypal payment gateway Key features:-

    • 4.4/5

    • 4th easiest to use amongst the payment gateways.

    • Entry level price – $0/month.

Paypal payment gateway Overview:

You can take all popular payment methods directly from your consumers on your website with PayPal credit card processing (Payments Standard, Payments Pro, or PayFlow). Scalable solutions for enterprises of any size are made possible by straightforward checkout buttons or fully customized online checkouts. Paypal is the best payment gateway for small business.

    • USERS
      • Owners
      • Software Engineer

    • INDUSTRIES
      • Information Technology and Services
      • Marketing and Advertising

    • MARKET SEGMENT
      • 61% Small-Business
      • 27% Mid-Market

User satisfaction:

Ratings of PayPal usability and attributes that indicate user satisfaction:

• Has the product been a good partner in doing business?
8.1/10

• Level 3
8.4/10

• Levels 1 & 2
8.3/10

• E-commerce Integration
8.6/10

Also read: How to set-up credit card for small businesses?

2. Stripe Payment Gateway Key features:

• 4.5/5
• 5th easiest to use in payment gateway software

Stripe Payment Gateway Overview

Built for developers, Stripe provides web and mobile payment solutions. Businesses can rapidly accept and handle online payments thanks to the tools and APIs offered by Stripe. Stripe is also the best payment gateway for small business.

    • USERS
      • Owner
      • Software Engineer

    • INDUSTRIES
      • Computer Software
      • Internet

    • MARKET SEGMENT
      • 75% Small-Business
      • 19% Mid-Market

User satisfaction:

Ratings of Stripe usability and attributes that indicate user satisfaction:

• Has the product been a good partner in doing business?
9/10

• Level 3
6.7/10

• Levels 1 & 2
5/10

• E-commerce Integration
9.3/10

Also read: All you need to know about authorize net

3. NMI payment gateway Key features:

• Rating: 4.9/5
• 3rd easiest to use in payment gateway software

NMI payment gateway Overview:

Whether you’re an ISO looking to boost the value of your services, an ISV looking to improve solutions, or a bank offering tools for payment processing, NMI payment gateway enables you to develop the ultimate, full commerce offering. Although we don’t interact with retailers directly, we give you the opportunity to give your retailers the ability to collect payments at all touchpoints, including in-store, mobile, online, and unattended. NMI payment gateway is the popular and best payment gateway for small business.

    • USERS
      • No specific user

    • INDUSTRIES
      • Financial services

    • MARKET SEGMENT
      • 89% Small-Business
      • 11% Mid-Market

User satisfaction:

Ratings of NMI payment gateway usability and attributes that indicate user satisfaction.

• Has the product been a good partner in doing business?
9.8/10

• Level 3
8.3/10

• Levels 1 & 2
8.5/10

• E-commerce Integration
9.4/10

Also read: Top 10 credit card processing companies (2023)

4. Apple payment gateway Key features:

• Rating: 4.7/5

Apple payment gateway Overview:

Is exclusively an Apple application that helps in financial transactions. Apple payment gateway is easy to use and one of the best payment gateways for small businesses. Mostly small businesses and startups use Apple payment gateway.

    • USERS
      • No specific user

    • INDUSTRIES
      • Food and beverage
      • Retail

    • MARKET SEGMENT
      • 62% Small-Business
      • 21% Mid-Market

User satisfaction:

Ratings of Apple pay for merchant usability and attributes that indicate user satisfaction.

• Has the product been a good partner in doing business?
8.5/10

• Level 3
9.2/10

• Levels 1 & 2
9.2/10

• E-commerce Integration
9.3/10

Also read: Credit card processing working!

5. Bolt payment gateway Key features:

• Rating: 4.6/5
• 6th easiest to use in payment gateway software

Bolt payment gateway Overview:

• With Bolt One Click checkout, you can improve sales by 50% and enhance customer conversion. One-click checkout, a 100% chargeback fraud guarantee, access to the Bolt Network’s tens of millions of customers, and other improvements can help you improve your checkout process.

• Bolt is adaptable and really simple to use. Easy integration with BigCommerce, Magento, and PrestaShop e-commerce platforms. Turn it on in a few minutes, then allow customers to check out quickly. By facilitating simple, reliable, and consistent online shopping for millions of satisfied customers, Bolt is democratizing commerce. No doubt bolt is the best payment gateway for small business.

    • USERS
      • No specific user

    • INDUSTRIES
      • Retail

    • MARKET SEGMENT
      • 81% Small-Business
      • 19% Mid-Market

User satisfaction:

Ratings of Bolt usability and attributes that indicate user satisfaction.

• Has the product been a good partner in doing business?
9.4/10

• Level 3
8.3/10

• Levels 1 & 2
8.9/10

• E-commerce Integration
9/10

Low and High-Risk Businesses: Key Differences in Selection Patterns

Merchants in low-risk sectors have some of the best options in terms of payment gateways. They have to make an individual choice between PayPal and Stripe. Both services are known for robust infrastructure. Is there an out-an-out winner in these two? Merchants know they have to go through their early days when they purchase products through these networks, PayPal in particular. The emotional sentiment cannot be taken out of the equation.

PayPal and Stripe: Win on Legacy Features

Small businesses starting their ventures and looking for trust and no-hassle setup should go with PayPal. The stand-out aspect is the trust value. Your audience entrusts PayPal with payments. Merchants know their brand can take off in days with the trust and winning mentality of PayPal. Stripe attracts small and developed merchants. The customization aspect puts Stripe ahead. Ask yourself if you can invest in technology resources. Pit PayPal and Stripe against one another to make a decisive call. Leave other options out. Merchants should consider business needs and technology muscle while selecting a payment service provider. PayPal and Stripe are two of the top services in the market.

High-risk merchants face a stiff challenge. They have limited options, to begin with. Network Merchant Inc. is one of the top service providers. Small businesses in the subscription-selling or travel sector struggle to find reliable services. They end up paying more out of their pockets. 

Your Merchant Services Rep (YMSR) considers NMI a top contender. Entrepreneurs should visit the official site. Unless you read the information, doubts won’t wash away. Compare NMI and other high-risk account providers. Identify how the NMI payment gateway leads them. What features do you find attention-worthy? The hallmark of a great brand is it educates you and upgrades your knowledge base. 

Best 5 Payment Gateways for Small Businesses: Bet on Your Choice

Small businesses should highlight the winning features of each service. Now, see if these points improve the bottom line and build a reputation. If you find a way to grow your business and earn profits, you should select one of them. You can manage to have three or four boxes ticked out of five. It shows you can cover up for the missing feature. 

Your choice should be made on what’s right for your business. What else? Can I know a bit more about each service without having the experience of working with them? Start reading reviews. You will get to know the ins and out of the industry. Often, we miss checking the website after reading the reviews. It’s another mistake we make. Read reviews but don’t follow them blindly. Your Merchant Services Rep (YMSR) has put the best 5 payment gateways for small businesses. High-risk merchants should pay attention to securing more than a payment gateway service. They must research as much as they can to make a time-proof decision. 

Here we shared with you the 5 best payment gateway for small business. If you want to know more about payment gateway then contact us at YMSR.