🔍 What Is a Payment Gateway?

A payment gateway processes online transactions by connecting your website or app to the bank. It handles:

• Card authorization
• Encryption
• Fraud checks
• Settlement
• Payouts

The right gateway reduces fees, improves conversion, and supports global customers.

Let’s break down each gateway with pros, cons, fees, and who it’s best suited for.

1. Stripe — Best Overall Payment Gateway for Small Businesses

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Stripe is the most advanced and most widely used payment gateway globally. It supports over 135 currencies, subscription billing, digital wallets, and advanced fraud protection.

Pros

• Supports SaaS, ecommerce, subscriptions, marketplaces
• Global payments with low FX markup
• Excellent APIs
• Supports Apple Pay & Google Pay
• Extremely reliable

Cons

• Slightly technical setup
• Not ideal for complete beginners

Fees

• 2.9% + 30¢ per transaction (US)
• Additional 1% for international cards

Best For

• Online stores
• SaaS subscriptions
• Digital goods businesses
• Global scaling businesses

2. PayPal — Best for Fast Checkout & Freelancers

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PayPal is trusted worldwide and is great for beginners due to instant onboarding.

Pros

• Instant customer trust
• Built-in buyer protection
• Easy integration
• Perfect for one-time payments

Cons

• Higher fees
• Funds can sometimes be held

Fees

• 3.49% + 49¢ (US)
• Cross-border fee applies

Best For

• Freelancers
• Digital products
• Beginners

3. Square — Best for Local Retail & Restaurants

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Square combines POS terminals + online payments, making it perfect for hybrid businesses.

Pros

• Free POS
• Invoicing + appointments
• Excellent for physical stores

Cons

• Limited in some countries

Fees

• 2.6% + 10¢ (in-person)
• 2.9% + 30¢ (online)

Best For

• Retail
• Food businesses
• Local services

4. Shopify Payments — Best for Ecommerce Stores

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If your store is on Shopify, this is the best option.

Pros

• No transaction fees
• High-converting checkout
• Integrated fraud system

Cons

• Only works with Shopify

Fees

• 2.4–2.9%

Best For

• Ecommerce brands
• Dropshipping
• Print-on-demand

5. Wise Business — Best for International Payments (Lowest FX Fees)

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Wise is perfect for freelancers and businesses that receive payments globally.

Pros

• Lowest FX fees
• Multi-currency receiving accounts
• Transparent pricing

Cons

• Not a traditional gateway for checkout
• Limited integrations

Fees

• FX: 0.4%–1%

Best For

Global freelancers

Agencies

Remote teams

6. Payoneer — Best for Global Freelancers & Marketplaces

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Payoneer offers fast payouts from marketplaces like Upwork, Fiverr, Amazon, Walmart, etc.

Pros

• Great for international payouts
• Fast transfers
• Multi-currency accounts

Cons

• Not ideal for ecommerce checkout

Fees

• 1%–3% depending on sender

Best For

• Freelancers
• Marketplace sellers

7. Helcim — Best for Low Transparent Fees

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Helcim uses interchange-plus pricing—often the cheapest for growing businesses.

Pros

• Transparent fees
• Volume-based discounts

Cons

• Not available in all countries

Best For

• Medium-sized businesses
• Subscription businesses

📉 Fee Comparison (2025)

🧠 How to Choose the Right Payment Gateway (Decision Guide)

Choose Stripe if:

• You want global customers
• You run subscriptions
• You have a digital or SaaS product

Choose PayPal if:

• You’re a freelancer
• You want instant checkout
• You’re starting with no technical experience

Choose Square if:

• You run a retail store, salon, café, or restaurant

Choose Shopify Payments if:

• Your store is built on Shopify

Choose Wise/Payoneer if:

• You receive international payments frequently

🛠️ How to Set Up a Payment Gateway (Simple Steps)

1. Create a business account
2. Complete KYC/KYB
3. Add your bank account
4. Integrate the gateway into your website
5. Enable digital wallets (Apple/Google Pay)
6. Test payments
7. Go live

❓ FAQ

• Which payment gateway has the lowest fees?

Wise (for FX), Helcim (for domestic), and Stripe (for global cards).

• Which gateway is best for US small businesses?

Stripe or Square.

• Which supports both online and offline payments?

Square.

• Which gateway is best for global ecommerce?

    Stripe + Wise combo.

✅ Final Recommendation

If you want the best all-around payment gateway for 2025, choose:

🥇 Stripe (best overall)

🥈 Square (best for retail)

🥉 Shopify Payments (best for ecommerce)