12 Best Cheapest Payment Gateways [Compared]

Are you a small business owner, freelancer, solopreneur, or an e-commerce entrepreneur looking for the cheapest payment gateway for your business? 

Look no further! In this article, we will explore the top 12 cheapest payment gateways available in 2024. We understand the importance of finding a payment gateway with low fees and the lowest transaction fees. 

So, let’s dive into the list and find the best payment gateway for your business needs.

12 Best Cheapest Payment Gateways

These are some of the best cheapest payment gateways:

• Authorize.net: Best for small to medium businesses needing reliable and cheap payment processing and security features.
• NMI (Network Merchants Inc): Best for businesses requiring flexible integration options across various platforms and industries.
• Cybersource: Best for Enterprises needing advanced fraud protection and comprehensive global payment solutions.
• USAePay: Best for small to medium-sized businesses needing simple setup, affordable transaction rates, and mobile payment options.
• Braintree: Best for online businesses looking for developer-friendly payment solutions with extensive global reach and mobile SDKs.
• Stripe: Best for startups and SMBs needing scalable and customizable payment solutions with developer tools.
• PayPal: Best for online businesses requiring versatile payment options, buyer and seller protection, and seamless integration with e-commerce platforms.
• Square: Best for businesses needing integrated payment processing and point-of-sale (POS) solutions with transparent pricing.
• Amazon Pay: best for Amazon shoppers and e-commerce platforms looking to streamline checkout processes with Amazon account integration.
• Apple Pay: Best for users within the Apple ecosystem and businesses focusing on mobile commerce with secure and seamless payment experiences.
• Adyen: Best for global enterprises with complex payment needs, offering extensive currency support and advanced fraud prevention.
• Helcim: Best for businesses seeking transparent pricing, excellent customer service, and integrated solutions for online and in-store payments.

Here’s a comparison table of the payment gateways listed above:

1. Authorize.net

First on our list of cheapest payment gateways is Authorize.net. Authorize.net is a trusted Visa solution that offers both payment gateway services and payment processing services. With its payment gateway-only plan, you can enjoy a seamless payment experience for your customers. The monthly gateway fee starts at $25, with a per transaction fee of $0.10. It also offers advanced fraud detection and customer information management features.
Features:

• Advanced fraud detection
• Customer information management
• Seamless payment experience

Pricing:

• Monthly gateway fee starts at $25
• Transaction fee of $0.10

2. NMI

NMI is a versatile payment gateway provider that offers more than 200 payment processors and various shopping cart integrations. With its extensive transaction management and reporting features, you can have full control over your payment hardware. Unfortunately, NMI does not publicly list its pricing, so you will need to contact them for a custom quote.
Features:

• Extensive integrations
• Transaction management
• Reporting tools

Pricing:

NMI doesn’t publicly disclose its pricing structure. They use a merchant account model, so pricing is typically customized based on your business needs, transaction volume, and risk profile.

However, NMI is known for its ability to accommodate high-risk businesses, which may come at a slightly higher cost than standard gateways.

3. Cybersource

Cybersource, another Visa solution, offers an easy-to-use payment gateway with international customizability. If you operate an e-commerce business with global customers, Cybersource allows you to accept payments in more than 190 countries. While the pricing is not publicly available, it offers customization options for your foreign customers.
Features:

• International customizability
• Payments in 190+ countries

Pricing:

Cybersource doesn’t publish its pricing publicly. They use a merchant account model with custom pricing based on your business needs, transaction volume, and industry.

However, Cybersource caters to a wide range of businesses, including high-volume merchants, so expect potentially higher fees compared to some basic payment gateways.

4. USAePay

USAePay has been providing payment solutions since 1998 and offers omnichannel payment options. With its in-depth database and standard fraud detection features, you can ensure secure transactions. While the pricing is not publicly listed, you can contact them for custom packages based on your business needs.
Features:

• Omnichannel payments
• Standard fraud detection

Pricing:

USAePay offers a transparent pricing structure with two main options:

• Per-Transaction Fee: This plan charges a fixed fee per transaction, typically around 2.9% + $0.30 per swipe or keyed-in transaction.
• Monthly Merchant Account: This option involves a monthly fee plus a lower per-transaction rate. The specific pricing depends on your business volume and risk profile.

5. Braintree

Braintree, owned by PayPal, offers convenient merchant services with customizable checkout options. You can integrate Braintree with multiple payment methods, including PayPal, Google Pay, and more. Pricing starts at 2.59% + $0.49 per transaction, making it a cost-effective option for small businesses.
Features:

• Customizable checkout
• Multiple payment method integration

Pricing:

Starts at 2.59% + $0.49 per transaction.

Also Read: Cheapest Payment Gateways for Online Gaming

6. Stripe

Stripe is an all-in-one payment solution with easy integration and support for over 135 currencies. With its extensive list of extensions and 24/7 merchant support, you can ensure a smooth payment experience for your customers. While standalone pricing is not publicly available, you can contact Stripe for custom quotes.
Features:

• Support for 135+ currencies
• Extensive extensions

Pricing:

Stripe charges a 2.9% + $0.30 per transaction fee. They also offer volume discounts for high-volume businesses.

How We Evaluated These Payment Gateways?

To select the 12 payment gateways featured in this article, we considered several key factors that impact businesses’ payment processing needs. These criteria include:

1. Business Size and Type: We identified gateways best suited for different business scales ranging from small and medium businesses (SMBs) to large enterprises by evaluating their features, scalability, and ease of use.
2. Integration Options: We assessed how well these gateways integrate with various platforms, payment systems, and third-party tools, considering the flexibility and compatibility with e-commerce websites, mobile apps, and point-of-sale (POS) systems.
3. Security Features: Fraud protection, data encryption, and compliance with industry standards (such as PCI DSS) were critical factors in choosing secure and trustworthy payment solutions.
4. Global Reach and Currency Support: We evaluated gateways based on their ability to handle international payments, including multi-currency support, global availability, and ease of cross-border transactions.
5. Pricing Structure: Transaction fees, setup costs, and monthly charges were carefully compared to ensure that businesses could access affordable yet efficient solutions. Transparent pricing models and competitive rates were prioritized.
6. Customization and Developer Tools: For businesses needing personalized solutions, we considered the developer tools, APIs, and SDKs offered by each gateway, with a focus on flexibility and customization options.
7. Customer Support: Reliable customer support and service quality, including availability of 24/7 assistance and customer service reputation, played a major role in our selection.

Each gateway was chosen to represent the best solution for different business needs, ensuring both functionality and ease of implementation across a range of industries.

Conclusion

Choosing the cheapest payment gateway for your business is essential to keep your transaction costs low. By considering the top 12 cheapest payment gateways listed above, you can find the best solution for your specific business needs. 

Remember to evaluate the features, pricing, and compatibility with your current systems before making a decision. With the right payment gateway, you can provide your customers with a seamless and secure payment experience while keeping your costs in check.

At ScaleupAlly, we excel in finding the perfect payment gateway solutions for your business. Contact us now to discover how we can help you choose a cost-effective gateway that aligns with your goals. 

Frequently Asked Questions

Q: How much does it cost to set up a payment gateway?

The cost of setting up a payment gateway varies depending on the provider. While some providers may charge setup fees, many do not. It’s best to check with your chosen provider for their specific pricing details.

Q: What is the cheapest payment gateway?

The cheapest payment gateway will depend on various factors, including your business type, processing volumes, and specific needs. It’s recommended to compare different providers and request custom quotes to find the most cost-effective option for your business.

Q: What is the best payment gateway for high-risk businesses?

High-risk businesses often face challenges in finding payment gateways. It’s advisable to work with a merchant service provider that specializes in high-risk industries. They can guide you in choosing a payment gateway with advanced fraud protection and tailored features to meet your specific requirements.

Q: Are payment gateways built into e-commerce platforms?

Some e-commerce platforms have their own built-in payment gateways, while others allow integration with various payment gateways. It’s essential to check the capabilities of your chosen e-commerce platform and ensure compatibility with your preferred payment gateway.

Q: Which payment gateway has the lowest charges? 

Square is the most popular payment gateway with the lowest transaction fee. Transaction fees starting at 2.6% + $0.10 per transaction. This makes it a cost-effective choice for businesses looking to minimize payment processing costs.

Q: Which is the cheapest payment gateway for e-Commerce?

PayPal often stands out as one of the cheapest payment gateways for ecommerce due to its competitive transaction fees of 2.9% + $0.30 per transaction. It offers a reliable option with widespread acceptance and buyer and seller protection features.