The best payment systems for a website and online store.

Payment systems have long established themselves as a reliable way to pay for goods and services. In general, the best payment systems for businesses are already proven platforms and they have many advantages. Moreover, the best payment systems for withdrawals significantly simplify the entire process. 

When considering payment systems ratings, it is definitely necessary to evaluate all the pros and cons of different platforms. A rating of payment systems for websites will also help, as it will save Time on making a choice. However, the best in the world doesn't mean that the rating will make the choice immediately. That is, the TOP payment systems in the world will serve as a hint, but will not solve all problems. 

The most popular payment systems in the world

Thus, choosing the TOP systems will help provide the store with all necessary payment operations. In general, payment systems — are a key part of the operation of any online store or website that accepts payment for goods and services. They ensure safe and convenient transactions for customers, as well as automate processes related to payment processing. 

This means that such systems fully cover all needs in payment for goods or services. If choosing a system for a store, one can pay attention to:  

1. Target audience. It is important to differentiate between systems for the domestic and international markets. If it comes to international transfers, it is worth choosing systems that support various currencies. If the sale of services or goods is intended for the domestic market, then there's no need to worry about this. Within any country, there are local systems that support the national currency and even consider the legislation of that country. It is better to use them.

2. Payment methods. If the system has different types of payment, then it will be able to attract more customers (various payment methods). 

3. Commissions. One should also pay attention to how much commission the system will charge (this will attract or repel customers). 

In general, these criteria will be sufficient to choose a good system. 

PayPal

One of the most popular systems in the world, which is quite convenient. PayPal operates in over 200 countries, which is already a significant advantage. The system allows users to create accounts, link bank cards and accounts, and then use them to pay for goods and services online. In other words, the system is quite simple. 

Advantages of PayPal:

1. Simplicity of the system. It is enough to register to then quickly use the system for various payments. Customers can link cards to their accounts and make purchases with one click.

2. Quite high security for all users. PayPal protects customer data, and sellers do not have direct access to buyers' banking information.

3. Great popularity of the system. It is supported in many countries around the world, which is quite convenient. Thus, thousands of customers choose it too. 

However, this system also has its nuances. For example, quite high commissions. They are charged for transactions, especially high commissions for international transactions. The system also has limitations. In some countries, PayPal has limited functionality, and users may face frozen accounts if suspected of fraud.

Stripe

Another popular system. This is a platform that is also used for processing payments. The system supports over 130 currencies, which is quite convenient. Stripe is popular among startups and tech companies due to its flexibility and ease of integration.

Advantages of Stripe:

1. Many features. Stripe supports a variety of payment methods, including credit cards, Apple Pay, Google Pay, and others. 

2. The system has a reporting system. Reports can be very detailed. 

Disadvantages of Stripe:

1. The system is quite complicated for beginners.

2. The system has fairly high commissions. A fee is charged for each transaction, which can be substantial for small businesses.

Despite these drawbacks, the platform is quite popular and convenient. 

Fondy

The system allows accepting payments via bank cards, electronic wallets, and local payment methods. It is quite user-friendly and popular. 

Speaking of the platform's advantages, it supports many currencies (foreign). For stores that work with many countries (clients from different countries), this is quite convenient. The integration with popular platforms can also be considered a plus. The system easily integrates with e-commerce platforms such as Shopify, WooCommerce, OpenCart, and others.

Connecting to the system is quite easy. Fondy provides a simple connection process and convenient tools for working with payments.

The system, like any other, has its significant disadvantages. This concerns the commissions. They are quite high (for some countries, unreasonably so). Additionally, Fondy charges a fee for each transaction, which may not be favorable for small enterprises. Special attention must also be paid to the numerous requirements for the verification system. Some users may face the need to provide a large number of documents for verification.

LiqPay

LiqPay — is a popular Ukrainian payment system developed by PrivatBank. The system allows accepting payments via bank cards as well as electronic wallets. It is actively used in the Ukrainian market, but also supports international payments.

Advantages of the system: 

1. The system is incredibly simple. LiqPay offers a user-friendly interface and one-click payment possibility for registered users.

2. The system has mobile payments. This means that services and goods can be paid directly through the mobile application. 

3. LiqPay easily integrates with popular e-commerce platforms such as OpenCart, Magento, WooCommerce.

The system also has significant disadvantages. Outside Ukraine, LiqPay is not as popular and may be inconvenient for use in international online stores. The system also has high commissions. This is a "weak point" for many similar systems. 

How to choose a payment system? 

Thus, the choice of a popular payment system for Ukraine in 2024 depends on several key factors such as security, convenience, commissions, support for various currencies, and integration with online stores or websites. The most popular options: 

1. Fondy. 

2. LiqPay.

3. WayForPay. 

4. Portmone. 

5. PayPal.

6. Stripe.

What other factors to pay attention to: 

1. Integration with platforms. Ensure that the chosen system easily integrates with your CMS or e-commerce platform. Stripe and Fondy offer flexible solutions for most popular platforms.

2. Security. All payment systems should have a high level of transaction protection (for example, 3D Secure). This is especially important for online stores that handle customer data.

It would be wise to pay attention to the support system of each system. Pay attention to the availability of a support service and the ability to quickly resolve issues related to payments.