Best Payment Gateways in Australia: Overview
When it comes to accepting payments online in Australia, choosing the right payment gateway is crucial for your business’s success. Payment gateways facilitate online transactions by securely transferring customer payment information to the relevant financial institution. There are various options in Australia, with each offering unique features, advantages, and pricing models. Let’s explore some of the top payment gateways in Australia, their features, pricing plans, and benefits.
Best payment gateway in Australia
- PayPal
- Square
- Stripe
- Braintree
- eWAY
- Pin Payments
1. PayPal
Overview:
PayPal is one of the most widely recognized payment gateways, used globally for online transactions. It is popular for both small businesses and large enterprises due to its ease of use, trusted brand, and range of features.
Features:
- Global Reach: Accepts payments in over 100 currencies, making it ideal for businesses with international customers.
- Integration: Simple integration with various eCommerce platforms like Shopify, WooCommerce, and BigCommerce.
- Mobile Payments: Allows businesses to accept payments through mobile devices via the PayPal app.
- Security: Advanced fraud protection with PayPal’s Seller Protection policies.
Advantages:
- Trusted by customers worldwide, leading to higher conversion rates.
- Fast transactions with instant payment processing.
- Offers both one-time and subscription-based payment solutions.
- Easy to set up and use.
Disadvantages:
- Higher transaction fees (especially for international payments).
- Limited customer service for small merchants.
- Funds can be held temporarily for account reviews, which can be an issue for some businesses.
Pricing Plans:
- Standard Transaction Fees: 2.6% + $0.30 per domestic transaction.
- International Fees: 4.4% + fixed fee based on currency received.
2. Square
Overview:
Square is a popular choice for businesses in Australia, particularly those with both physical and online stores. It offers point-of-sale (POS) systems as well as an online payment gateway.
Features:
- POS Integration: Square integrates seamlessly with your in-store payment systems.
- Customizable Invoices: Create and send invoices directly to customers.
- Multi-Device Support: Accept payments through a mobile device, tablet, or PC.
- Advanced Analytics: Insights into sales and customer data to optimize business performance.
- No Monthly Fees: Square charges no monthly fee for online payments, making it ideal for startups.
Advantages:
- Simple and transparent pricing with no hidden fees.
- Fast setup with the minimal technical knowledge required.
- Offers both online and in-person payment processing.
- Great for small businesses, freelancers, and startups.
Disadvantages:
- Limited international payment options compared to other gateways.
- Some additional features require additional costs (e.g., advanced reporting).
- Transaction fees are higher for smaller transactions.
Pricing Plans:
- Standard Fee: 1.9% per transaction for online payments.
- In-Person Payments: 1.6% per transaction for in-person payments via Square Reader.
3. Stripe
Overview:
Stripe is a popular choice for developers and businesses that require advanced features and global payment processing. It’s highly flexible and integrates well with various online platforms.
Features:
- Global Payments: Accepts payments in over 135 currencies.
- Customizable: Offers a fully customizable payment page, making it ideal for developers.
- Subscription Billing: Easily manage subscription-based payments and recurring billing.
- Fraud Prevention: Built-in tools to prevent fraud, such as 3D Secure and Radar for machine learning-based fraud detection.
Advantages:
- Excellent for developers due to its APIs and integration options.
- No monthly fees or setup fees.
- Scalable for businesses of all sizes.
- Advanced features for subscription management and invoicing.
Disadvantages:
- The setup may be complex for non-technical users.
- Higher fees for some international transactions.
- Customer support is primarily online-based, which may not suit some businesses.
Pricing Plans:
- Transaction Fee: 1.75% for domestic payments and 2.9% for international payments.
- Currency Conversion Fee: 2% for international payments.
4. Braintree
Overview:
Braintree, owned by PayPal, offers seamless integration with PayPal and other credit card processors. It’s designed for businesses that need global payment capabilities and a high degree of customization.
Features:
- Multi-currency Support: Accepts payments in over 130 currencies.
- PayPal Integration: Easily integrate with PayPal for additional payment options.
- Mobile Payments: Accepts payments via mobile apps, including Apple Pay and Google Pay.
- Advanced Fraud Protection: Includes comprehensive fraud prevention tools.
Advantages:
- Supports a variety of payment methods, including digital wallets.
- Customizable and scalable, ideal for growing businesses.
- Global capabilities, making it easy to accept international payments.
Disadvantages:
- Setup can be complex for small businesses without a dedicated developer.
- No direct support for some niche payment methods in Australia.
- More expensive than some other gateways for lower-volume businesses.
Pricing Plans:
- Transaction Fee: 2.6% + $0.30 for domestic transactions.
- International Fees: 3.6% for international transactions.
5. eWAY
Overview:
eWAY is an Australian-based payment gateway that provides secure and flexible payment solutions. It’s a good option for businesses looking for both online and in-store payment solutions.
Features:
- Australian-Owned: Focused on local businesses with Australian support.
- Secure Payments: PCI DSS compliant, ensuring safe transactions.
- Recurring Billing: Ability to set up subscription payments and recurring billing.
- Mobile-Friendly: Offers mobile payment solutions and integration with mobile apps.
Advantages:
- Excellent support for Australian businesses with local customer service.
- Transparent pricing with no setup fees.
- Strong fraud protection tools and security features.
Disadvantages:
- Fees can be higher compared to some international gateways.
- Requires an eCommerce platform to integrate fully.
- Some advanced features may incur additional costs.
Pricing Plans:
- Transaction Fee: 1.8% + $0.30 for credit card payments.
- Monthly Fee: From $25/month for basic plans.
Conclusion
The best payment gateway in Australia largely depends on your business’s needs:
- If you need simplicity and global reach, PayPal is a good option.
- For businesses with physical stores and a need for in-person payments, Square is ideal.
- For advanced integration and developers, Stripe and Braintree offer a high degree of flexibility.
- If you are a local Australian business seeking a solution with strong local support, eWAY is a solid option.
By analyzing features, advantages, and pricing plans, you can find the payment gateway that aligns best with your business goals.
