With an overwhelming growth in Digital marketing and eCommerce industry, the genetics of merchandising and transactions have changed forever.
Gone are the days when  you needed to carry cash when going for a shopping or dining at a restaurant. Now most of the daily transactions are done through internet or through the bank cards.
However the real juice of all these innovations and developments lies in the fact that today you can purchase or transact anything all over the world with just few clicks on your computer. With few clicks  , you can buy a solitaire ring or a big auto-plant machine. That is simply amazing.Â
Are you yet not selling products Online. Do not miss out!  If you are a business owner or looking to start one and want to make profit right from day one, do make sure that you are well aware of the power of Internet & payment gateways and how you can use them in the best possible way. Transactions ranging from a few pounds to millions can be accomplished in a matter of  few seconds.
Here we are sharing some of the most popular payment gateways used in the U.K.
Before we move any further I would like to clarify a subtle issue which often confuses people.Â
Question: What is the difference between a payment gateway and merchant centre?
Answer: Well payment gateway is just a medium to transfer money just like the ATM machines but you can use that money only when you have a bank account linked and virtual bank accounts are what we call merchant center.
Now we will discuss some factors one should know before selecting a payment gateway.Â
How to choose the right payment gateway for your website?
Choosing a right payment gateway for your website is a crucial decision which if not made correctly can affect your business adversely. Therefore it is quite imperative that you are aware of different gateways and the options they come up with. Every payment gateway tool comes with different features and you should select the one according to your business and customers requirements.
Sometimes its not all about what you prefer the most rather it is about the  most convenient and easy option for your customers.
Lets start our discussion with the Wikipedia definition of a payment gateway,Å“A payment gateway is an e-commerce application service provider service that authorizes credit card payments for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. It is the equivalent of a physical point of sale terminal located in most retail outlets.Â
Here are a few points which you must consider while selecting the payment gateway:
1. International customers
If you sell to customers in international markets, you should choose a payment gateway which is feasible for both the local and international customers.
2. Cost is a huge factorIt is important to research thoroughly and select the one that fits in the budget.
3. Mobile payment feature
The one which you are going to choose should include mobile payment feature as well otherwise you will miss out an important and powerful demography of buyers.
4. Level of protection
No two payment gateways can be same. So choose the one which provides maximum fraud detection.Talking about the popular Gateways, here are the five which we think are on the top of the list however there are many others as well therefore the last decision should always be yours. Also note that in the list shown below , there is no ranking given as such,  these are just the most popular payment gateways available  in the UK.
1. Authorize.net  Website - http://www.authorize.net/
  Take a Tour - http://welcome.authorize.net/
With a user base of over 300k merchants authorize.net is internets most widely used payment gateway.
Price It has a £50 setup fee, costs £20 monthly and takes £0.15 per transaction.Key features
1. Advanced Fraud Detection Suiteâ„¢ (AFDS)
2. Set up multiple user accounts with permissions to control account access.
You can check here for more details about the account.
2. Sage Pay
   Website “ http://www.sagepay.co.uk/   Take a Tour - http://www.sagepay.co.uk/about-us s
This renowned payment gateway provider offers 1k transaction per quarter for £25 a month. It is the suitable choice for business which handles a lot of transactions.
Price
It costs £25 monthly and as stated above it offer first 1000 transactions/quarter free, 10p per additional transaction.
Key features 1. Highest level of card data security 2. Free 24/7 customer support 3. Multi-channel payment services You can check here for more details about the account.3. PayPal
   Website “ https://www.paypal.com/    Take a Tour - https://www.paypal-media.com/about
This most recognizable brand allows its users to pay through credit and debit card as well as through their PayPal account.
Price
1. Its free to use PayPal to buy anything till the time your transactions does not involve any currency conversion.
2. You can use it for buying through either online or through instore.
3. Absolutely free until and unless and currency conversion is involved.
Å“PayPal charges UK sellers a fee of between 1.4% and 3.4% of the total sale plus 20p per transaction within the UK. The fee depends on how much you sell, so the more you sell, the less you payÂ
Key features 1. Easy-to-integrate system 2. No setup or monthly fee You can check here for more details about the account. 4.WorldpayWebsite -Â http://www.worldpay.com/uk
Take a Tour - http://support.worldpay.com/support/shopper/index.php
Price
2.75% fee for credit cards and 39p for debit cards. Key features1. More than 200 payment types
2. Established payment services provider
You can check here for more details about the account.
5. Stripe UK
   Website “ https://stripe.com/gb     Take a Tour - https://stripe.com/checkout
Price
It charges 2.4%+20p per successful charge, or less based on the volume. Key features 1. Seamless security 2. Powerful toolkit You can check here for more details about the account. So which one is your favorite? Please leave your comments below.
