Talk Talk Only...

E-Payment Gateways

Talk Talk Only...

E-Payment Gateways
Share on facebook
Share on google
Share on twitter
Share on linkedin

There are tons of eCommerce gurus out there who can teach you how to build eCommerce sites in a matter of minutes but may not share with you the mechanics of the E-Payment gateways used to transact the orders placed on your site.  As a relatively “newbie” in eCommerce (20 months and counting), I just want to share my knowledge on three E-Payment gateways I used.  I am not saying one is better than the other, but this will give you a better idea which you can use for your business purpose.

The three E-Payment gateways I have tried are:
1. PayPal
2. SmoovPay
3. Stripe

Here’s a snapshot on the features I identified for comparison:

Setup FeesFreeFreeFree
Monthly FeesFreeFreeFree
Selling Fees3.4% + S$0.50 (or less)2.9% + S$0.25 (or less)3.4% + S$0.50 (or less)
Accept American ExpressSame rate as other cards for Standard; 3.5% for Pro or AdvancedSame rate as other cardsSame rate as other cards
Subscription CollectionYesNoYes
Chargebacks$28FreeS$25 (approx)
WithdrawalFree> S$500 (FREE)Free
International cards1% to accept funds, *plus 2.5% currency conversion feeFree to accept funds,*plus 2% currency conversion feeFree to accept funds,*plus 2% currency conversion fee
Card Verification TransactionsS$0.50FreeFree
*Fee only applies if you charge in SGD.

As I am using Woocommerce for my eCommerce sites, it comes with PayPal as an E-Payment gateway, so the setting up is quite easy.  And when it failed to accept a particular transaction via its PayPal Express Checkout (non-PayPal users who wants to pay via their Credit Cards), I decided to research further on Stripe.  I must say the the instructions provided to set up Stripe was quite a breeze as it was already available as an extension on WooCommerce.

SmoovPay is made in Singapore and I must say it is definitely a cheap and good alternative to PayPal and Stripe.  It does not allow “recurring subscription” at the moment which can be a bummer for “Paying Membership Sites”.  I have not integrated SmoovPay in all the sites I built except one.  Reason: Can only withdraw for Free if amount above S$500.

If you would like  to learn more about the respective E-Payment gateways, you can click on the links below:

Stay tuned for more updates!  🙂

More to explorer

Subscribe to our newsletter

Don't miss new updates on your email