Quickly Compare 7 Popular and Safe Payment Gateways

If you want to sell online, it’s important to choose the “payment gateway” that will work best for your business. A payment gateway is simply a way to accept credit and debit cards through your website or ecommerce store. We’ll explore the various costs, functions and other areas of 7 providers for your business.

For each provider use our table summary or detailed fee information about:

Comparison of 7 Payment Gateways

Fees for taking payments

Let’s start by exploring the fees that the payment gateways charge. They’re all based on a “per transaction” model – i.e. how much they charge each time a customer buys from you. The model is generally a fixed percentage of the full transaction amount (e.g. 2.9%), plus an additional fee (e.g. 30¢).

 

Square - A payment gateway for online paymentsSquare payment fees

 

Stripe - A Payment Gateway for Australian Business

Stripe payment fees

  • For domestic cards: 1.75% + 30¢ per transaction.
  • For international and AMEX cards: 2.9% + 30¢ per transaction.
  • More information on Stripe payments in Australia here.

 

Shopify - A payment gateway for merchant account and customers

Shopify payment fees

  • For domestic cards: Between 1.4% + 30¢ and 1.75% + 30¢ per transaction, depending on Shopify plan.
  • For international and AMEX cards: Between 2.7 and 2.9% + 30¢ per transaction, depending on Shopify plan.
  • More information on Shopify plans and payment fees for Australia here.

Shopify also charges a monthly fee of between $29 and $299 for their full service eCommerce stores. You will need an active Shopify eCommerce store to use Shopify payments.

 

PayPal is a world renown payment gateway used for payment methods for customers

PayPal payment fees

  • For Australian customers: Between 2.6% + 30¢ and 1.1% + 30¢ per transaction, depending on the total value of transactions in a month.
  • For international customers: Between 3.6% + fixed fee* and 2.1% + fixed fee* per transaction, depending on the total value of transactions in a month.
  • More information on PayPal fees and discounts for Australia here.
  • Read our full review of PayPal as a payment gateway here.

*The fixed fee for PayPal international payments depends on the currency that your customer is paying with.

 

Pin Payment an online payment gateway

Pin Payments fees

 

eway payments fees

  • For international cards: 1.5% + 25¢ per transaction.
  • Domestic cards: 1.5% + 25¢ per transaction
  • More information on Eway payments fees here.

 

SecurePay payments fees

  • For domestic Mastercard and Visa cards: 2.4% per transaction.
  • For domestic AMEX: The same rate you have agreed with AMEX
  • For Discover cards: SecurePay does not charge anything extra
  • For international cards: No rates listed.

Fees for chargebacks

Chargebacks happen when a customer “disputes” a transaction (e.g. they claim they never made the payment or didn’t receive the item.) If a payment is successfully disputed, a payment gateway will raise an additional charge to you.

  • Stripe chargebacks will cost $25 per successfully disputed payment.
  • PayPal chargebacks will cost $15 per successfully disputed payment.
  • Shopify chargebacks will cost $25 per successfully disputed payment.
  • Pin Payments chargebacks will cost $25 per successfully disputed payment.
  • securePay chargebacks will cost $25 per successfully disputed payment.
  • Eway does not list chargeback fees.

Fees for refunds

There will be times when you need to voluntarily refund a customer. This is how the payment processors handle refunds:

  • Stripe will refund your transaction percentage fee and fixed fee when you refund.
  • Shopify will refund your transaction percentage fee and fixed fee when you refund.
  • PayPal will refund your transaction percentage fee but not your fixed fee when you refund.
  • Pin Payments will refund your transaction with no additional fees.
  • It’s not clear how Eway handles refunding transaction charges.
  • It’s not clear how securePay handles refunding transaction charges.

International payment fees

If you’re selling internationally and taking payment in different currencies, you should know how the payment gateways charge for that.

  • Stripe doesn’t charge anything extra for international payments.
  • Shopify doesn’t charge anything extra for international payments.
  • Pin Payments doesn’t charge anything extra for international payments.
  • Eway doesn’t charge anything extra for international payments.
  • It’s not clear how securePay handles international payments.
  • PayPal will charge you 4% above the current exchange rates to convert funds to Australian dollars.

Benefits and features

It’s not all about the costs and fees – Here are some of the additional benefits and features of each payment provider.

  • Mobile payments – All of the payment processors integrate with mobile, tablet and smartphone devices to let customers make payment wherever they are.
  • Point of Sale (POS) – PayPal, Shopify, Eway, and Pin Payments all provide card readers that you can use to take payment face-to-face with your customer. Stripe and securePay do not offer POS devices.
  • Recurring and subscription billing – PayPal, Stripe, Eway, securePay, and Pin Payments all provide recurring billing as standard. You can get recurring billing through Shopify but you’ll need to use a third-party app from their marketplace
  • Fraud protection – All the providers offer fraud protection as standard.

 

As you can see, there are lots of areas to consider when choosing the right payment provider for your Australian business. Here’s a link to the features and benefits pages of the various payment gateways, so you can make an informed choice.

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By Justin Rampono Updated October 27th, 2020