Young entrepreneurs are embracing dropshipping as a very popular business strategy since it provides a low-cost, low-risk way to generate income online. There are plenty of payment gateways and other technology available to aid you in this process, and it’s a fantastic way to start a business. In essence, a payment gateway is the device that enables an online store customer to make a purchase. Payment gateways manage all financial transactions for an online store. Payment gateways ensure that the payment data is handled safely and that the money is taken out of the buyer’s account. The funds are then deposited into the dropshipper’s account and made available for withdrawal from your bank account. The payment gateway keeps a tiny portion of the transaction amount as their service charge. If you are building up a new online business and seeking the finest payment gateways for dropshipping, then here are the details that you need to know.
Available Payment Getaways For Dropshipping
There are various payment gateways one could use for making their dropshipping business. Let us look at some of the most popular and reliable ones.
- Paypal – PayPal is perhaps the most well-known payment processor among both dropshippers and the general public. Who doesn’t know it? a lot of customers are familiar with and confident in this payment provider makes it a fantastic complement for your dropshipping company.
Pros: Well-known among people worldwide, easy to use
- 2checkout – 2Checkout is also one of the most trusted payment gateways for dropshipping and is accessible in more than 87 countries. It works with all major credit cards, including Visa, MasterCard, Diners Club, American Express, and other cards.
Pros: Supports multiple language, PCI compliance, multi-currency payouts
- Authorize.net – Authorize.net is available over 33 different countries. It is among the longest-running and most reliable payment gateways online. It also offers several extensions to make it easy to integrate to WooCommerce stores. Authorize.net also offers the low transaction fees for dropshipping and ecommerce stores.
Pros: Advanced fraud protection easy checkouts, digital invoicing.
Best Payment Gateways For Dropshippers In India Including UPI
Let us look at some of the best suited payment gateways for Indian dropshippers.
- RazorPay: RazorPay enables dropshippers to access wallets like JioMoney and MobiKwik as well as debit and credit cards, online banking, UPI, and wallets. Unacademy, UrbanClap, Zoomcar, Groofers, and BookMyShow are examples of well-known companies that have used the Razorpay payment platform. RazorPay is one of the most well-known payment gateways in India.
- Instamojo: Instamojo is a very trusted full-stack SME platform. It is super easy to start an online business with Instamojo because it offers secure payment gateways, integrated marketing tools, and more. Instamojo helps more than 15 lakh independent enterprises in India with its reliable payment gateway. With the help of Instamojo’s Web platform, dropshippers can create their own store and link a simple payment gateway to it. Instamojo also handles CRM, analytics, and shipping.
- GooglePay: Another reputable and well-known payment option that would be ideal for your dropshipping company is Google Pay. If you have ever used Google Pay for yourself, you are aware of how quick, simple, and practical it is to make a payment. Additionally, it enables you to keep and store your credit card information on your Google Account, which speeds up online payments for goods, apps, and services.
Payment Gateway For Shopify
The Shopify platform and Shopify Payments are totally connected. It’s easy to set up dropshipping on Shopify. It just requires a few clicks. You can kick off your dropshipping business journey with it. Shopify offers a variety of benefits, such as
- Being incredibly easy to set up
- accepts most major credit cards
- Payouts are done every 3 business days.
Payment Gateway Options For Woocommerce
WooCommerce has a “WooCommerce Payments” gateway created by itself that enables you to make your payments on the website successfully. WooCommerce payments are fully integrated into Woo. It accepts all the major credit and debit cards and other local payment options with no extra charges. This platform offers other popular payment gateways like Amazon Pay, Stripe, and AfterPay.