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7 Best Online Payment Gateway Providers in Australia

By Storeplum Editorial

Posted | 2 min read

7 best payment gateways in australia

If you are thinking about starting an ecommerce business in Australia or if you are looking to expand your business to Australians, then it makes sense to support your business with payment options which are widely used in the country.

Many merchants are stuck with limited offerings for payment gateways supported by their ecommerce platforms. Ideally this should not be a deciding factor when selecting a payment gateway provider for a business.

Multiple factors need to be taken into consideration while choosing a payment gateway for any online business like - security, support with different currencies, pricing, payment options and more.

Our team spent about three weeks in knowing the pros and cons of major providers of payment gateways in the country. In this article, we will list out the most popular payment gateways used with reasons of why they are the best! Lets go-

7 Best Payment Gateways in Australia

#1

2Checkout

Founded in the early 2000s, 2Checkout is a payment gateway service provider for online businesses in Australia to help them to scale into the market quickly. Because of their popular enterprise level support for high volume transactions, it is a preferred gateway when it comes to international currencies and domestic transactions, especially in Australia.

Payment methods supported by 2Checkout-

  • Credit cards
  • Digital wallets
  • ACH Bank debit

2Checkout offers a flat pricing of 3.5% + 35 cents per transaction. Their offerings are expensive compared to other gateway providers in the Australia on this list. The entire pricing can be found here.

ProsCons
Quick start and simple integrationNo complete support for popular ecommerce platforms
Built in capabilities like fraud detection and preventionExpensive compared to other providers
Dashboard analytics and insightsSteep learning curve with integrations
Options for subscription billing-

#2

eWay

eWay is one of the older payment gateways in Australia. Founded in 1998, the company quickly partnered with major banks in the country to support credit card processing and related offerings. Today, eWay integrates with popular ecommerce platforms with expanded offerings in New Zealand, Singapore, Malaysia and HongKong.

According to the company website, over 28,000 online stores use eWay worldwide as it is a preferred payment gateway by Australians. Following are the payment options supported by eWay-

  • Credit cards
  • Debit cards
  • Digital wallets
  • Amex cards
  • International wallets

eWay payment gateway offers a flat pricing of 1.5 % plus additional 25 cents for each transaction. There is also a monthly fee of $9.99 after the first 50 transactions This pricing is applicable for both domestic and international payments. The complete pricing options for eWay payments can be found here.

ProsCons
Volume pricingMonthly fees makes it less attractive for startups or new businesses
Flat fee for both International and domestic transactionsHigh transaction fees for AMEX
Built in fraud protection-
Level 1 PCI-DSS compliant-
Support for recurring billing-

#3

Checkout.com

checkout.com is another preferred payment gateway which is used by many merchants who would like to have international currency support. The company is located in London and it is one of the biggest payment processing companies in Europe.

Payment options supported by Checkout.com-

  • Credit cards
  • Debit cards
  • Bank transfers (EPS)
  • Paypal
  • Digital wallets like Apple Pay, Google Pay, etc

Checkout.com offers a range of pricing between 0.10 - 0.40% plus $0.2 per transaction for all credit and debit cards.

ProsCons
Affordable pricingSuitable for high volume transactions
Developer friendly APIDashboards are not as intuitive compared to others.
Support with user account management.-

#4

SecurePay

Secure pay is an Australian payment gateway which is safe and provides built in fraud detection and prevention. This payment gateway is also easy to integrate with existing technical stack and provides support for over 50 E-Commerce platforms.

Below are the payment options which are supported by Securepay-

  • Credit cards
  • Debit cards
  • Digital wallets
  • Paypal 
  • International cards

Securepay does not have any monthly fees or even any account maintenance fees. The platform charges a flat 1.75 percent Plus $0.30 AUD as transaction fees.

ProsCons
No monthly fees like eWayCustom integrations need learning curve
Includes fraud protection at no additional costDashboard analytics could be better
Rebates on dynamic currency conversions-
Developer friendly API-

#6

WorldPay

Worldpay offers smart payment processors and related solutions to small businesses. The company also offers strategic partnership and online payment systems to enterprise and high volume retail businesses globally.

Payment options supported by Worldpay-

  • Credit cards
  • Debit cards
  • Digital wallets
  • Bank transfers

Worldpay takes a monthly subscription fee of 19 euros per month for a standard online payment gateway with 350 transactions included. There are no additional fees for set up.

ProsCons
Support for enterprise retailersComplicated pricing.
Analytics and dashboard includedMonthly subscriptions and limited transactions does not work well with high volume merchants
PCI compliant-
Fraud protection included-

#6

Square Payments

Square payments build the point of sales terminals, its related software and the ability for users to pay directly from their phones at retail outlets, restaurants and online.There are over 2 million active businesses on Square as of 2020. Square is available in only five countries including Australia, UK, USA, Canada, and Japan.

The following payment methods are supported by Square-

  • Credit cards
  • Gift cards
  • Cash
  • Check
  • Payment links
  • Bank account deposits

Square charges 2.6% + 10 cents per transaction when used for payments for online stores. There are additional fees for manually added transactions into Square powered terminals as they possess a higher risk of fraud and chargebacks. More information on Square payments pricing can be found here.

ProsCons
Ease of use and simple setupSuitable for retail with it's complete suite of payment solutions
Timely settlementsLess flexible with customizations
Multiple options of payment methodsSteep learning curve
Supports invoice creation and inventory managementHigh pricing as volume increases

#7

Stripe

Stripe is a top online payment platform in the USA with another office in Dublin, Ireland. The payment provider is used by over 3.1 million websites globally. Stripe is also known for its best in class security and developer friendly integrations for platforms like Shopify, Bigcommerce, Storeplum, etc. In the last decade, the company has gained significant traction among Australian businesses.

Stripe supports the following payment methods by default-

  • Credit card payments
  • Debit cards
  • Digital wallets
  • Bank redirects
  • Cash vouchers
  • Buy now pay later

They also offer a fraud protection tool at an additional fee per transaction. High volume merchant accounts (those processing over $5000 per month) benefit greatly from tools which help them manage chargebacks and credit card fraud liabilities.

The company charges a flat 1.75% + $0.30 AUD as transaction fee

Cons

ProsCons
PCI Service Provider Level 1 compliant. Best in class securityNot available in all countries
Built in fraud prevention and resolutionInstant deposits at an additional costs
Developer friendly APIDoes not support popular payment methods outside North America
Technical support-
No monthly fee-
Plug and use UI components for non-tech teams.-
Accept payments with Stripe for your online store

How to choose an online payment provider?

Compatibility with your systems in use

It makes sense to use an online payment system with tons of built in support for other software ecosystems. That way, your development team would not have to keep on building custom third-party integrations and support systems for all the tools that you use to run your business.

Payment gateways like Razorpay, Paypal have plug and use components for major ecommerce platforms and support integrations with external tools like Zapier, Typeform, custom payment pages and with marketing email tools like Mailchimp, Activecampaign, etc.

High conversions

According to Statista, over 15.1% of Australian shoppers prefer the buy now pay later or BNPL payment option while checking out.

Research has shown that online stores providing this option have seen great improvement in conversions compared to other stores.

In general, BNPL providers have higher chargeback fees. This can cost you a lot of money if your RTO (return to origin) percentage is on the higher side.

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Storeplum Editorial

Storeplum Editorial

Storeplum's in-house editorial team brings to you the best content when it comes to growing your online business on the Internet. We write about growth hacks, case studies, government schemes and other related information for e-commerce business.

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