2024’s Best Payment Gateways for Australian Small Businesses – Digital Freak

The thriving e-commerce landscape in Australia demands seamless and secure payment gateways. Choosing the right one is crucial for online businesses aiming for success. In this comprehensive guide from our ecommerce marketing agency in Melbourne, we’ll explore the best payment gateways in Australia, offering insights into their features, pros, and cons, so you can drive online sales.

What are Payment Gateways?

A payment gateway is a technology that facilitates online transactions by connecting the merchant’s website and the financial institution. It ensures secure and smooth transmission of payment data, authorising transactions and enabling the transfer of funds between the buyer and the seller. Many offer payment terminals as well as online payments, making them convenient for e-commerce and retail hybrid stores.

Having the right payment gateway is vital for several reasons:

• Security: A robust payment gateway ensures the secure transmission of sensitive financial information, protecting both buyers and sellers from potential fraud.
• Convenience: An efficient payment gateway provides a seamless checkout experience for customers, increasing the likelihood of completed transactions.
• Compatibility: The right payment gateway should integrate seamlessly with the e-commerce platform and software used by the business, ensuring a smooth operational flow.
• Global Reach: For businesses looking to expand globally, a payment gateway that supports various currencies and international transactions is essential.

The 7 Best Payment Gateways in Australia

1. eWay

Website: eWay

Launch Year: 1998

Supported Platforms: Magento, Shopify, WooCommerce, BigCommerce, WP ecommerce, and 250+ other integrations.

Pricing: 1.9% + 20c per Visa and MasterCard transaction for both domestic and international cards. eWay offers various pricing plans.

Payout Method and Frequency: Direct bank account deposit every 3 days.

Pros:

• Popular in Australia with a solid reputation
• Built-in fraud prevention tool
• No setup fees
• Real-time risk rating via the Beagle tool
• Secure and scalable payment solution

Cons:

• Manual activation required for the fraud prevention tool
• Limited to merchants with bank accounts in specific countries

Accepted Modes of Payment: Visa, MasterCard, American Express, Diners Club, JCB, Discover, digital wallets.

PCI Compliance: Level 1 (highest)

Method of Integration: iFrame solutions and accessible API resources.

Chargeback Policy: $44 per chargeback.

Availability of a Payment Processor: Yes

Sign-up Time: 2-3 business days.

2. SecurePay

Website: SecurePay

Launch Year: 1999

Supported Platforms: BigCommerce, Adobe Business Catalyst, Shopify, WooCommerce, ShopFactory, and more.

Pricing:

• SecurePay Online Payments: 1.75% + $0.30 per domestic transaction, 2.90% + $0.30 per international transaction.
• Gateway Solution: Various options based on transaction volume and business type.

Payout Method and Frequency: Dependent on SecurePay’s risk assessment policies.

Pros:

• Detailed reporting
• Australian bank support
• Virtual terminal available
• Advanced fraud protection
• Offers sandboxing for testing
• Customisable payment page

Cons:

• Hidden fees
• Limited report printing options
• No Point of Sale (PoS) support

Accepted Payment Methods: All major cards and PayPal.

PCI Compliance: Level 1

Method of Integration: API access.

Availability of a Payment Processor: Yes

Chargeback: $25 per chargeback.

3. Square

Website: Square

Launch Year: 2009

Supported Platforms: Shopify, Vend, WooCommerce, Xero, GoDaddy, Acuity Scheduling.

Pricing:

• App: Free
• Square Reader: $59 or 3 payments of $20.
• Transaction Fee: 1.9% per tap or dip for various card types.

Pros:

• Virtual terminal available
• End-to-end encryption
• Next-business-day deposits
• Chargeback protection plan
• Instant deposit for a small fee

Cons:

• Scrutiny on card-not-present transactions
• Merchant disputes often favour buyers

PCI Compliance Level: Level 1

Method of Integration: APIs and SDKs available on the Square website.

Beyond its online integration capabilities, Square also provides services to brick-and-mortar retailers through specialised hardware solutions like the Square Reader. This facilitates a seamless integration of both online and offline sales channels, delivering a unified payment experience across all platforms.

4. WorldPay

Website: WorldPay

Launch Year: 1997

Supported Platforms: Shopify, BigCommerce, WooCommerce, Magento, WP Commerce.

Pricing:

• Pay as You Go: 2.75% + A$0.37 for both credit and debit cards.
• Pay Monthly: A$37.35 plus 2.75% for credit cards and 0.75% for debit cards.

Payout Method and Frequency: Twice a week into the merchant’s bank account.

Pros:

• Assistance in obtaining PCI DSS compliance
• Presence in over 146 countries
• Supports 126 currencies
• Built-in fraud prevention tools
• Real-time order monitoring through a live dashboard
• No extra fees for subscription and billing

Cons:

• Limited free trial availability
• Offers a variety of services, requiring thorough research

Accepted Cards: All major cards.

Method of Integration: Accessible APIs listed on the WorldPay website.

Chargeback: $29 AUD per chargeback, refundable if the customer revokes the request.

Availability of a Payment Processor: Yes.

WorldPay’s extensive global presence and support for multiple currencies make it a versatile choice for businesses with international aspirations. The real-time monitoring provided by the live dashboard adds an extra layer of control and security to the payment process.

5. Pin Payments

Website: Pin Payments

Launch Year: 2011

Supported Platforms: Shopify, WooCommerce, BigCommerce, Chargify, Magento, ChargeBill, Snipcart, and more.

Pricing:

• Domestic Transactions: 1.75% + 30c
• International Transactions: 2.9% + 30c
• Foreign Currency Conversion Fee: 1.7%
• Payout to Third-Party Bank Account via APIs: 30c

Payout Method and Frequency: Business revenue paid out to the bank account in 3 business days.

Pros:

• Recurring billing services available
• Reduced rate for non-profit organisations
• Fraud protection tools
• No merchant account required
• Seamless performance across devices
• Easy API integration
• Decent customer support

Cons:

• No mPoS support
• Longer payout time for foreign currencies
• Merchants need to share receipts via screenshots

Accepted Cards: Visa, MasterCard, American Express.

PCI DSS Compliance: Level 1

Method of Integration: Accessible Pin Payments integration guide.

One notable feature of Pin Payments is its support for nonprofit organisations with a reduced transaction rate. This reflects the company’s commitment to catering to a diverse range of businesses and causes. Despite the lack of mPoS (mobile Point of Sale) support, Pin Payments’ emphasis on seamless integration, fraud protection, and support for various e-commerce platforms makes it a competitive choice for businesses looking for reliable payment solutions in Australia.

6. ANZ eGate

Website: ANZ eGate

Launch Year: 2001

Supported Platforms: Custom e-commerce, Magento 2, WooCommerce, Opencart, PrestaShop.

Pricing Information: Custom pricing based on specific plans and transaction volumes. New customers may enjoy special offers, including free terminal rental fees for 12 months.

Payout Method and Frequency: Payments requested on a bank business day before 6 PM (AEST) will be processed on the same day. Requests made after that time will be debited immediately but processed on the following bank business day.

Pros:

• A division of the reputable ANZ bank group
• Easy setup process
• Same-day fund settlement
• Secure payments from anywhere
• Top-notch security features
• Industry-standard encryption
• Scalable payment solution

Cons:

• Higher cost compared to some alternatives
• Compatibility challenges with certain business types
• Customer service challenges reported

Accepted Modes of Payment: Visa, MasterCard, American Express, JCB, Diners Club International.

PCI Compliance: Level 1

Availability of a Payment Processor: Yes, ANZ eGate has its own payment processor.

Method of Integration in Your Website: ANZ provides a comprehensive merchant virtual integration guide for smooth implementation.

ANZ eGate’s affiliation with the ANZ bank group provides a sense of reliability and trust for businesses in Australia. While the cost may be higher for some, the ease of setup, same-day fund settlement, and top-notch security features make it an appealing choice for businesses seeking a payment gateway aligned with a prominent financial institution.

7.2 CheckOut

Website: 2CheckOut

Launch Year: 1999

Supported Platforms: Compatible with 100+ e-commerce, shopping cart, and invoicing systems, including Shopify, BigCommerce, WooCommerce, Magento, and Drupal Commerce.

Pricing Information:

• Physical Products: 3.5% + A$0.51 per successful sale.
• Recurring Billing: 4.5% + A$0.66 per successful sale.
• Digital Products (eBooks, music, etc.): 6.0% + A$0.88 per successful sale.

Payout Method and Frequency: Weekly payouts via wire, ACH, Payoneer, check, and Webmoney. Minimum transfer limits apply.

Pros:

• Global support with 87 currencies and 15 language options
• Flat-rate fees for various countries
• Advanced fraud protection
• Hosted and inline checkout options
• Mobile responsive
• Recurring billing and WordPress integration
• Customer-friendly features like blacklisting fraudulent sellers

Cons:

• Merchant account required
• No digital wallet functionality
• Live Chat not available for merchants

Accepted Cards: Visa (debit and credit), MasterCard (debit and credit), American Express, and more.

PCI Compliance: Level 1 certified (the highest).

Method of Integration in Your Website: Accessible API resources available on the 2Checkout website.

Chargeback: Fees applicable for chargebacks issued via various credit/debit cards.

Availability of a Payment Processor: Yes, 2CheckOut comes with its own payment processor.

2CheckOut’s broad global support, customisable checkout options, and advanced fraud protection make it a valuable choice for businesses looking to expand their online presence. The flat-rate fees for various countries enhance transparency, allowing merchants to plan their costs effectively.

Choosing the Right Gateway for Your Business

As the e-commerce landscape in Australia continues to evolve, selecting the right payment gateway is pivotal for the success of online businesses. Each of the mentioned gateways has its strengths and caters to different business needs. Before deciding on a payment gateway, online businesses should carefully consider their specific requirements, transaction volumes, and the level of customisation they desire.

Tips for Avoiding Chargebacks

Chargebacks can pose challenges for businesses, but certain measures can help minimise their occurrence:

• Clearly state descriptions on card statements
• Charge customers only for products displayed on the website
• Implement card verification processes
• Refund to the card used for payment
• Address disputes promptly and appropriately
• Verify large payments to ensure the payer is the cardholder
• Provide advance notice for recurring billing
• Use bold and bulleted formats in policies for clarity

Staying informed and proactive is key to navigating the intricacies of payment gateways and ensuring a secure and smooth online transaction experience for both merchants and customers.

In conclusion, the dynamic and competitive nature of the Australian e-commerce landscape necessitates continuous evaluation of payment gateways to meet the evolving needs of online businesses. Choose wisely, adapt to changes, and empower your business with a reliable payment gateway!

No-nonsense affordable services to launch and market your e-commerce business!

Unlock the full potential of your e-commerce business with our specialised web design and digital marketing agency. We’re your one-stop digital marketing solution, offering affordable, comprehensive services tailored for small businesses – and we don’t BS.

From domain hosting and web design to SEO, content marketing, social media marketing, video marketing, Google Ads, and blog writing, we’ve got you covered. Elevate your online presence and drive sales with our expert team. Make the smart choice today and partner with us to ensure your e-commerce success.

Your e-commerce business deserves the best, and we’re here to deliver it! Get a FREE strategy call!