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What are the best payment gateways in Canada ?
Which payment getaways are preferred by top app development companies?
Which mobile app development company in Canada hires dedicated app developers to deal with payment gateway problems?
Which is the best payment gateway for my business?
How to choose the right payment gateway for my business needs?
If your search history looks something like this, then this article is for you. In this article, we will learn about the various payment gateways in Canada so you can choose one for hassle less payment processes. So without further ado, let us get into it!
Cashless is the new way of almost all tractions. May it be a small stall or a local store or even a big business house all tractions are being made online or through cards. And the reason why people are preferring this is that it is extremely easy and there is less risk involved in caring physical cash around all the time.
This is where payment gateways are coming into play. They are a method to help customers to make their transaction handling easy. App development companies are looking into ways to come up with creative solutions to deal with these modern payment problems.
Here are some statistics based on online payments in Canada that might interest you.
- The estimated value of digital payments turns out to be more than 2M CAD in the year 2019 itself
- The growth rate of this system is around 12.8% per year
- The most beneficial sector of this type of payment is the eCommerce section which has managed to make the payments convenient for distant buyers.
Surprising isn’t it how much we are dependent on online transactions? Yes, they occupy a big part of our digital world today. Keep on reading to find out the top payment gateway in Canada!
Also Read, Why Should You Hire Dedicated App Developers In Canada?
List of top payment gateways in Canada
Now let us look into the top interfaces preferred by mobile app development companies in Canada. The list below gives a detailed view. It is as follows:
1. Square
This app was launched in 2009, they were the first to think about payments through mobile phones directly. The main advantage of using this interface is that there is no user fee or monthly maintenance fee that is associated while signing up with this app. It is one of the best apps that are available in the market without any maintenance fee. The percentage on each swipe depends upon the type of account the bank holder has and his designation. There is no monthly fee which makes it the top preference for merchants who use these apps for frequent payments.
For big businesses, this app offers services where you can sync your custom software with it to ensure safe and secure transactions with easy database management. It has some of the top features like online transactions, and recurring bill payment options that are very needed by all mobile app development companies in Canada.
Payment methods supported by Square are:
- Debit card
- Credit card
- Gift cards by the app
- ACH
- Apple Pay
- Google Pay
Along with this, it supports 8 currencies in total.
2. Stripe
Yes, stripe makes it to this list due to its easy-to-use interface. It is the most famous gateway in the west and is highly preferred by people of all ages. It has excellent tools which provide high customer satisfaction.
All app development companies look forward to working with it. Top apps like Lyft, Blue Apron, and Wish are using it to sync transactions. This is one of the apps that you should consider for your next project. This app you to make easy in-app transactions, and split bills, and merchants can use the advanced tools to get insights about the payment. There are no setup fees charged by the company. Plus, there is no monthly subscription fee too! These third-party apps also make conversions of currency and tracking of these types of tractions very easy for big businesses. The payment methods supported by stripe are as follows:
- Debit Cars
- Credit card
- Bank Transfer
- Cash vouchers
- Banking redirects
It supports over 135 currencies which is why it is highly preferred.
3. PayPal
All payment gateway lists are incomplete without this app! It has been ruling third-party transactions ever since it has been launched. It is preferably the best payment gateway in Canada with over 250M users all over the world. From small shops to big businesses, all prefer to use it to ease the process of payments for their clients. The transaction fees are dependent upon the type of transaction that is about to occur. The standard rate for all tractions is about 2.9% which is less compared to other payments available in the market.
You can also add your credit card details to get additional benefits. The premium subscriptions use Mastercard and VISA which makes this process highly secure. The feed can take up to $35 monthly along with your daily transactions. Almost all mobile app development companies in Canada have included this in their payment process to be redirected for a secure way of online deals.
The payment option supported by Paypal are as follows:
- Paypal Wallet
- Credit Card
- Debit Card
- Reward Systems aviled
- Banking redirects
It also supports over 25 currencies. This is highly advantageous for business owners owners who have overseas clients that use different types of currencies to make their payments.
Conclusion
All payment big or small is being made digitally these days. Hence, the need for a payment gateway in Canada has been rising in the past few years. Even mobile app development companies in Canada are looking to work with methods that allow their customers to have hassle-free tractions that use secure means. Most of the payment methods described in the list above are free to use. This is the reason it is preferred by small and local business owners to high-earning business dealers. The eCommerce sector has seen this to be a boon as now they can receive advance payments without worrying about anything.
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