Top 7 Electronic Payment Gateways

on April 18, 2024

In the current era, we use our mobile phones for almost everything, including withdrawing and paying money electronically, so we will present the 7 most important electronic payment gateways. Currently, the digital wallet or electronic payment applications can be used in various commercial transactions over the Internet.

What are electronic payment gateways?

Before presenting the 7 most important electronic payment gateways, let us get to know this world. Digital wallets and payment applications have become very popular and are used everywhere and at any time you want. As for digital payments, they are financial payments that are made through digital media or over the Internet, so the money here is not cash like traditional payment, and to complete the payment, the value is transferred from one account to another using electronic devices such as a mobile phone, computer, or various payment cards.

Although these methods are easy electronically, both parties must have a bank account and a bank-approved method for online payment, in addition to an electronic device and a means of transmission, which is the electronic payment gateway, and it is connected to the bank account or card.

Benefits of electronic payment gateways

The presentation of the 7 most important electronic payment gateways comes due to their great benefits in various commercial fields, especially since they are non-cash commercial transactions that do not require a personal presence. Here are the most important of these benefits.

  • Through electronic payment, the person can get rid of having cash with him, which increases the security of storing money and reduces theft.
  • Digital payment transactions are faster, resulting in less waiting and more convenience in paying and receiving.
  • Ease of calculation and accuracy of amounts means simplified operations and tax compliance without complexity.
  • The benefits are not limited to digital payment only, but also to the possibility of stores collecting users’ data in order to provide them with offers and marketing plans.

Learn about the 7 most important electronic payment gateways

Now we will present to you the 7 most important electronic payment gateways that can be considered more than applications and websites, as they have become highly relied upon and have many benefits. This list was created based on the degree of credibility and security in addition to the evaluation of users through stores that confirmed their reliability. Here we present to you the best gateways.

Apple Wallet

It is designed for Apple and iPhone users as it allows opening the so-called Apple Card and then paying money to wallet users. If you are using an iPhone, you do not need to do anything to get the wallet as it is automatically present on the device. The application combines convenient payment services with digital wallet options such as storing a hotel key, public transport card, concert tickets and others.

Google Wallet

It is compatible with Google accounts and deals with banks that issue credit cards for payment via Google, which can be used to pay for travel and hotels. It is characterized by speed, as money arrives quickly, with the ability to send large amounts. Some rewards can also be made available in it, and it also includes features such as click-to-pay, but you cannot add a credit card or debit card unless the bank deals with it.


PayPal 

It is among the 7 most important and popular electronic payment gateways and has the ability to cash out your credit card reward points when shopping online. The account is synchronized with major credit card issuers to allow your points to be used in online purchases, but PayPal charges fees on some commercial transactions and instant access to payments. It also has strict fraud protection measures that may lead to your account being frozen.

Zelle

Available for iOS, Android and websites depending on the bank you are dealing with, you do not need to download the application to start using it, as it has been integrated with more than 2000 banking applications, and it is easy to use. All you need is the recipient's phone number or email address, and through them you can send cash to his bank account.

Venmo

With Venmo, you can send up to $60,000 per week with identity verification and participate in cryptocurrency investments, but its transaction information is public by default and anyone can see the sender and recipient names, the timestamp, and any payment notes.

Cash App

This app is similar to Venmo and PayPal in functionality and features but the difference is the ability to send stocks and bitcoins to others and also provides a debit card for purchases from websites.

Stripe

It is considered one of the 7 most important electronic payment gateways through which electronic payment can be made. It is widespread in Arab countries and has high security standards despite the ease of opening an account. It places different commissions on commercial transactions.

The applications and wallets we have provided are among the 7 most important electronic payment gateways that can be relied upon with confidence for payment. However, we advise examining the different methods carefully before adopting them and ensuring the confidentiality of account information and not sharing it with any party to avoid fraud.

Wise is the preferred choice for freelancing.

Wise (formerly known as TransferWise) is an international financial platform that enables low-cost, transparent exchange rate money transfers between countries. It features multi-currency account services, making it easy to manage and receive payments in different currencies. For online freelancers, Wise is an ideal choice for receiving payments from international clients quickly, securely, and at lower costs than traditional banks. This feature provides great flexibility for freelancers and small business owners in dealing with global markets.

To register on the Wise platform, click here.

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