February 9, 2021 Blog

Here’s How E-Commerce Businesses Can Save Money With Payment Solutions

When choosing a payment solution for your business, you have to think about how it will affect your business’s finances. Although a payment solution might be a good option for selling your products, the extra fees that come along with it may not be too enticing.

There are many payment solutions that you could use for your business. Ayden, Authorize.net, BlueSnap, Chase Integrated Payments, Chase Merchant Services, Checkout.com, CyberSource Direct, MyVirtualMerchant, NMI, Paymetric, PayPal, Sage Pay/Protx VSP Direct, Square, and Stripe are some of the available payment solutions in North America.

All these options can feel overwhelming, so we’ve narrowed them down to the best three payment solutions for your e-commerce business.


Authorize.net is a direct payment processor that was established in 1996. The company provides flexible payment solutions. And, in order to use this service, your business has to be registered in the US, Canada, UK, Australia, or Europe.

Authorize.net allows you to accept payments from all around the world and supports multiple currencies. Payments via credit/debit cards and other digital providers such as Apple Pay, Visa Checkout, and Google Pay are accepted. Authorize.net is suitable for a business of any size. Fraud protection tools are also available to protect your business. No long-term contracts are required, and your billing is month-to-month.

The cost of data portability is highly-priced. Customer service has not received the best reviews, and they are said to be quite challenging to reach and get assistance from. The all-in-one pricing option can be unclear. Using Authorize.net with another provider could cost you a lot more. The flat-rate pricing rates for optional merchant accounts are relatively high. Other than these factors, Authorize.net is considered one of the best payment solutions for e-commerce businesses.


Stripe is another excellent option for a payment solution, as they process transactions worth billions of dollars every year. The company provides flexible tools for you to customize your business payment gateway that is given for free by Stripe.

Stripe supports data portability, so you can freely move your data if you decide to switch to another provider in the future. There is also a vast API library at your disposal. Pricing structures are simple and straightforward. You do not have to pay for setup, ACH processing, additional per-transaction fees, a monthly gateway fee, and recurring billing.

One of Stripe’s downsides is that there is a higher chance of account holds and terminations since it is a third-party processor. For high-volume merchants, the flat-rate pricing is more expensive. Additionally, some degree of technical skill is required to implement the aforementioned payment solution.


PayPal is one of the world’s most widely used payment platforms, with over 220 million active accounts. It is a trustworthy payment solution and has many customization options available for your business. Payflow is the payment gateway that PayPal uses, and it can work with almost all payment processors. Payments from 202 countries can be accepted, supporting 25 currencies.

The checkout system is easy to use and accepts debit/credit cards, Amex, and Visa as forms of payment. PayPal also offers Pay-as-you-go pricing, and no monthly fees will be charged. Standard accounts have simple flat-rate pricing. There are also various pricing plans to choose from. If you are a low-volume merchant, PayPal’s systems would be beneficial to your business.

PayPal does not offer e-check (ACH) payment support. That said, PayPal might not be the best option to choose as your payment solution if you are in a high-risk industry. The flat-rate processing charges compared to most merchant accounts are high.

Tips To Save Money With These Payment Solutions

The different pricing structures of payment solutions can affect the profitability of your e-commerce in many ways. Knowing a few tips on saving money when using each payment solution will be beneficial to your business.


The best way to save money with Authorize.net is by having a merchant account. A merchant will eliminate charges such as monthly gateway fees, setup fees, a daily batch fee, and a plus per-transaction fee. The digital invoicing feature allows you to bill your customers without charging any additional costs. It is advisable to get a payment gateway with Authorize.net rather than other providers as it will be less expensive. A cheaper option would be to find a partner reseller of Authorize.net to set up your merchant account. This will provide you with more room to negotiate your flat-rate amounts.

Authorize.net has a well-informed walkthrough of using your API Login ID, a Signature Key, and a Transaction Key. The process from there onwards should be easy. Once you activate your account, it will be placed in “Test Mode,” where you will test your connection by making test transactions. You may or might not need a developer to assist with the connection test.


Ecommerce businesses looking into using Stripe should consider setting up their merchant accounts through one of Stripe’s processing partners, namely Square and Shopify. This can allow you to get much lower rates and better pricing plans. You can enquire about nonprofit discounts that Stripe offers to businesses that handle micropayments.

You can use one of Stripe’s integration partners or use the Stripe plugin to get integrated. You can alternatively use a checkout service that has Stripe already integrated called Stripe Checkout. There are a few steps you need to follow to integrate Stripe as your payment gateway. You will need to login and get your API keys, create a payment form, validate card details by including JavaScript, and parse the payment and store it into a database table. You can find these steps easily online.


Using Payflow as your primary payment processor for PayPal could save you some money. The Payflow Link price per transaction is $0.10, and no setup fees or monthly fees are required. Here is a useful feature that you can use to save money on software and subscription fees. The mobile processing app allows you to deposit your funds and online sales efficiently. Mass payouts also save you money by paying out contractors all out once.

PayPal offers many integration options for syncing your accounting service, shopping cart, and your shipping software. The e-commerce options that are integrated with PayPal are Shopify, Wix, and Magento. There is an obvious benefit to having so many integration options to choose from. You don’t have to worry about the compatibility of your shopping cart.

Need help choosing the right payment solution for your requirements? For a free assessment, call us at +1 (416) 628-5522, or email us at [email protected].

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