7 Best Payment Gateways for Magento 2 Stores

7 Best Payment Gateways for Magento 2 Stores

Are you looking for a Magento payment gateway that best suits your needs? Well, you have come to the perfect place!

While Magento has in-built payment methods, you can integrate the platform with multiple third-party payment gateways. However, you must consider a few factors before investing time or money in them. What are they? Once you have a clear picture of your requirements, find answers to these questions:

• How easy is it to integrate it into your existing system?
• What security features does the platform provide?
• Does it support multiple payment methods?
• What is the platform fee?

Too much work? The research is already done for you! We have curated a handpicked list of the best Magento payment gateways, listing their best features, pros and cons, and everything you need to know to make an informed decision!
But before we start with the platforms, there’s one thing we need to be clear about.

What is a Payment Gateway?

A payment gateway acts as an intermediary between customers, businesses, and their respective banks. It processes transactions between a merchant’s website and the customer’s bank.
Now, let’s understand how a payment gateway works using a simple example.

Say you decide to buy a book from a website. You enter your credit card details on the bookstore’s website. The store uses a payment gateway to securely send your payment details to the bank that issued your credit card and verifies if you have enough funds to complete the purchase.

Once this transaction is approved and verified, the funds are transferred. The gateway is a bridge that securely handles communication between the respective banks.

Now, since that’s clear, let’s get started with the…

7 Best Magento Payment Gateways

Here’s a table for a quick sneak peek:

Here’s the first one in the lot:

1. Paypal: Best for Fast and Secure Checkouts with Multiple Payment Options

Paypal is the most widely used Magento payment gateway. It supports over 25 currencies in more than 200 countries for personal and business accounts. The best part about the platform is the fraud prevention and security features, which are must-haves for buyers and sellers.

Best For: Businesses with international customers or requiring instant funds

Key Features

• Offers multiple solutions, including PayPal Payments Standard, Pro, and Express Checkout
• Accepts debit/credit cards, PayPal balances, and local payment methods
• Secure transactions for online, offline, or mobile payments
• Real-time fraud prevention with fraud risk models and analysis tools

Pros

• Instant fund transfers to PayPal accounts
• One-touch checkout for faster payments

Cons

• High fees for low-value transactions
• You will be redirected to an external checkout page.

Pricing
Note: Paypal’s Merchant Rates program allows a reduced rate on transaction rates for businesses.

• There are no monthly fees or set-up costs.
• Customers need to pay a minimum fee of $0.25 and a maximum fee of $25.00 for domestic personal transactions
• For businesses, credit and debit card transactions will cost 2.99% plus 49¢ per transaction

2. Stripe: For Customizable Checkout Experiences and Recurring Payments

Stripe is a developer-friendly Magento payment gateway that supports 135+ currencies and 100+ payment methods, including Apple Pay and Alipay! This might be your platform if you want advanced customization, recurring payments, and robust security features.

Best For: Tech-savvy businesses who need API-driven solutions

Key Features

• Offers subscription management and invoicing tools.
• The No-code payments make it easy to use.
• The global reach of 195+ countries facilitates effortless cross-border commerce!
• Shareable payment links are available via SMS, email, or other channels

Pros

• One-click checkout with a link
• PCI-DSS compliance with advanced fraud detection

Cons

• Limited support in some countries
• Funds take 2 days to settle

Pricing

• Stripe is free to set up, but there are fees for transactions
• The standard transaction fee is 2.9% plus 30 cents for online payments.
• For in-person payments, it is 2.7% plus 5 cents per transaction.

Over to the next payment gateway…

3. Braintree: For Advanced Fraud Protection

This Chicago-based e-commerce mobile and web payment system was acquired by PayPal in 2013. Braintree offers advanced integrations that allow you to share payment data with other service providers.

Best For: Merchants prioritizing security and diverse payment options.

Key Features

• Offers complete PCI DSS compliance
• You can connect your business to other payment service providers with Braintree orchestration.
• Supports Venmo, Apple Pay, and Google Pay.
• Real-time reporting and 24/7 support

Pros

• Built-in fraud detection tools like 3D Secure.
• Your transaction will be immediately routed to another payment processor in case it is declined.

Cons

• It can be a bit complex for beginners
• Limited customer service responsiveness

Pricing

• The standard fee is $2.89% + 0.29 cents for cards and third-party digital wallet transactions.

4. Authorize.net: For Enterprise-Level Security

Authorize.net is one of Magento’s most popular payment gateways, with ample features and customization options. The best feature, though, is the Virtual Terminal, which allows you to make payments over the phone using your web browser!

Best For: Large businesses needing fraud management.

Key Features

• Advanced fraud detection, including address verification and CVV checks.
• Automated recurring billing with the flexibility to pay via credit card or directly from their bank account.
• You can add Buy Now or Donate button for simple checkout
• Enables e-check payments

Pros

• Excellent customer support
• Supports multiple payment methods

Cons

• You need to have multiple accounts for multi-currency transactions
• It is expensive for small businesses due to monthly fees

Pricing

• There is a monthly fee of $25 to use the platform
• The standard price is 2.9% + $0.30 per transaction

5. Square: Best for Omnichannel Retailers and Small Businesses

Square is best for small to medium-sized businesses that want a simple UI with maximum features and competitive pricing! You can work hand-in-hand by accepting in-person payments via Square POS and online payments through Magento with synchronized transaction data.

Best For: Retailers with physical stores and US-based Sellers

Key Features

• Supports credit/debit cards, digital wallets (Apple Pay, Google Pay), and Buy Now, Pay Later (BNPL) options
• Free point-of-sale (POS) system integration
• Provides fraud protection, data security, and dispute management
• Enables Chip and PIN payments

Pros

• Instant approval with no lengthy contracts
• Easy to use and setup

Cons

• Limited availability in certain countries
• Higher transaction fees for small-ticket purchases

Pricing

• In-person processing fee is 2.6% + 15 cents per transaction
• Online service adds up to 2.9% + 30 cents per transaction

6. Checkout: For Global Subscription Billing and Dynamic Pricing

If you are an e-commerce seller looking for a gateway that expands your reach to the global market, 2checkout is the one! The platform offers Multi-currency and multi-language support and is an all-in-one monetization platform to boost your conversions.

Best For: SaaS companies and global digital brands looking to Automate recurring billing and localize checkout experience

Key Features

• Customers can update payment methods or cancel subscriptions via a branded dashboard.
• Subscription billing options
• Multiple payout methods are available, including wire transfer, ACH, PayPal, Payoneer

Pros

• Automated invoicing
• Automated tax calculations, including VAT, GST, and sales tax. The platform can also collect sales tax for some US states.

Cons

• Cross-border transactions cost up to 6.6% (base fee + 1% FX markup)
• Requires API customization for advanced features

Pricing
For the transaction fees, there is a pricing tier:

• 2Sell Plan will cost you 3.5% + $0.35 per successful sale (one-time sales)
• 2Subscribe Plan, 4.5% + $0.45 per transaction (subscriptions)
• 2Monetize Plan is priced at 6.0% + $0.60 per transaction (enterprise bundles)

7. Worldpay: For Multi-Currency Transactions and Global Enterprises

Worldplay is a Magento payment gateway that offers extensive payment options to businesses of all sizes. It supports over 120 currencies and more than 300 local payment methods, including Alipay, iDEAL, and UnionPay.

Best For: Global Enterprises and high-risk industries like travel and luxury goods

Key Features

• Processes transactions in 146 countries with localized checkout experiences
• Real-time transaction monitoring with customizable fraud rules for added security
• You get centralized analytics for cross-border sales and refunds
• Provides real-time payout experience across the globe

Pros

• PCI-DSS compliance with tokenization
• Instant currency conversion solution

Cons

• Requires merchant account setup
• Complex Pricing Structure

Pricing
You have to contact the team for a quote

That’s it!

Wrapping it Up!

Did you find the perfect payment gateway for your Magento store? Remember that the best tool for you depends on your requirements. Take your time, review each feature set, and see if the pricing matches your needs. There’s no hurry!
Happy Exploring 🙂

manan

VP Technology 

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With over 18 years of experience in digital commerce, I have worked extensively across a wide range of technologies including Magento, Shopify, WordPress, WooCommerce, React.js, MySQL, and PHP. As the Vice President of Technology, I lead the company’s technological vision—overseeing strategic initiatives that drive business growth and enhance client solutions. My core focus lies in building scalable and secure systems, while also exploring emerging technologies that deliver competitive advantage. I am responsible for designing and implementing impactful changes across platforms, with a strong belief in leveraging technology to increase project volume, boost revenue, and create meaningful value in our customers’ experiences.