Magento is an open-source eCommerce platform built on Zend Framework and PHP programming languages. Back in 2007, Roy Rubin with his employees in Varien planned to launch a new version of osCommerce platform after analyzing that the outdated features were not fulfilling the web builders essentials.
They launched the Beta version of Magento 1. Then they developed various editions - Magento Community in 2008 for public and Magento Enterprise in 2009 for the commercial goals. Both the editions were a success for them.
Then in 2015, the release of Magento 2 startled everyone with advanced features for back-end and front-end management. Migration to Magento 2 enables merchants to deliver an enchanting omnichannel shopping experience to their customers. It also helps boost conversion rates, improve productivity, performance, scalability, and business agility.
Furthermore, the payment industry is evolving at a rapid pace and a huge transformation has been seen in the payment modes - whether customers pay in-store, online or via mobile application. Digital wallets and mobile payments have gain a tremendous momentum. Payment gateway is an eCommerce service that authorizes and authenticates payments between merchants and customers. Payment gateways encrypt the sensitive information and ensures that the transactions are secured.
Magento is an open source eCommerce platform that offers flexibility and scalability for B2C, B2B, and hybrid solutions. The advanced version of Magento, i.e., Magento 2, has default payment gateways. The Magento payment provider gateways help integrate your system with other payment service providers such as PayPal, Braintree, and Authorize.Net.
PayPal makes shopping or selling experience faster, safer, and easier for everyone. It offers quick checkout, secure payments, free Return Shipping service, 24/7 security guards for every transaction and give full refunds on eligible purchases.
What are the benefits of using PayPal with Magento 2?
The module Marketplace Mass PayPal Payment for Magento 2 permits the admin to make the seller’s payouts using the mass PayPal payment option. This helps make multiple payments in a short span of time.
Braintree is a full-stack payment platform which offers a fully customizable checkout experience but it is still not available for merchants from these 8 different countries such as Australia, Canada, Europe, Hong Kong, Malaysia, New Zealand, Singapore, United States. Braintree payment method can be used with Magento store only if the Magento Secure Payment Bridge is enabled and configured properly.
What are the benefits of using Braintree with Magento 2?
Magento 2 Braintree Payment Gateway Marketplace Add-on simplifies the payment process and refund process for online Magento store. Also, Braintree payment gateway integration is easy and proper notification is sent if there is any payment failure.
Authorize.Net is an on-site payment gateway and is very useful to manage a plenty of stores checkout process for Magento website. Authorize.Net’s secure servers keep the merchant payment information or checkout content safe. All transactions processes are carried in Magento store itself instead of redirecting to 3rd party sites for payment processes.
What are the benefits of using Authorize.Net with Magento 2?
For fast and secure transaction, Authorize.Net payment gateways suit best because all transactions are processed in Magento store and streamline the shopping experience of the customers.
Payment gateways are an essential object for online stores and give shoppers a choice to choose among different available gateways. An experienced Magento development agency can help you choose perfect gateways for your Magento store or website.