Are you looking for the best online payment gateways for shopify dropshipping in 2019?
Your journey to become an online store owner is almost impossible without a payment processor active on your online store checkout.
We understand, you’re having a hard time selecting the one you need including know the requirements for each payment gateway.
And that’s why we’ve put up this guide to refresh your memory on the best payment gateways for shopify dropshipping.
They’re not really the best, but we have recommended them according to the priority and we hope you’ll love our list and make decisions with the help of them.
Important Links (Table of Content)
- What is a Dropshipping Business?
- Benefits of an Online Payment Gateway or Processor.
- Recommended Payment Gateways for eCommerce Stores.
- Final Thoughts?
What is a Dropshipping Business?
In e-commerce, there’s been a lot of talk about drop shipping.
If you are not familiar with drop shipping, it’s a business model where you, as a store owner, don’t need to buy products in advance.
You just add a necessary product to your site and when someone purchases it, you buy it from supplier who ships this item directly to your customer.
So, when starting an online business, it lets you easily avoid the hassles of things like developing products, tracking inventory, setting up warehouse space, and maintaining a confusing shipping/receiving infrastructure.
Drop shipping is considered a low-risk business model making it great for new entrepreneurs.
Are you ready to start a dropshipping business?
Benefits of an Online Payment Gateway or Processor
The following are some of the best payment gateways for shopify dropshipping in making payments safe and secure.
1. Integration saves time
Of all the advantages that an integrated payment processor offers small and medium businesses, the time saved by no longer requiring individuals to manually enter credit card and other electronic payments into accounting software is without a doubt the most valuable cost-saving feature.
2. Integration reduces human error
Adding the human element into the payment transaction process increases the opportunity for errors to be made, either in the form of entries being duplicated or data entered incorrectly or applied to the wrong account. The results could lead to time lost trying to locate the error as well as frustrated customers as a result of overbilling or not having a payment properly attributed against their account or erroneous tax reporting.
3. Integration increases cash flow
Having an integrated payment processing solution that provides reliable and current reports on exactly how much money a business has available at the end of each business day helps it better manage payroll and inventory, pay vendors, and make better, more informed operating decisions.
4. Integration reduces labor costs
Integrating the payment process also creates savings in terms of costs allocated to the business workforce. With payments feeding directly into the general ledger at the moment of payment, it is no longer necessary to have a dedicated accounts receivable employee on payroll or pay an accountant solely to reenter data from credit card transactions to reconcile accounts.
Best Payment Gateways for Shopify Dropshipping
PayPal has always remained one of the best payment processor for an ecommerce store or dropshipping and it’s super easy to setup.
All you have to do is goto paypal.com and signup for a business account with your country.
Unfortunately, their are countries where PayPal accounts doesn’t see or receive payment.
However, if your country doesn’t have full rights and features to use PayPal you can contact us to purchase our guild on getting a verified PayPal account that sends and receive.
This is an African payment processor who you may or may not have heard of.
It works international and accepts payments in different currencies e.g USD.
With Rave, you can accept payments on your store in USD and they have limited countries they accept.
Remember, it’s for Africans.
Flutterwave is also available as a payment gateway on Shopify and other ecommerce platform you intend to use.
If you signing for an account, you have two positions, starter and business.
The starter account is only allowed to process a minimum of $500 daily.
If you submit your CAC or business documents, you will be allowed to process unlimited payments.
This is another awesome payment processor which you can trust.
Facebook is using PayU to accept payments for Nigerian who want to run for ads.
And for those having trouble using the facebook payment processor.
Their checkout experience is also good and you can give them a try.
They accept USD payments as well.
Here’s another way to accept payments on your store and that’s awesome. Their checkout experience is pretty attractive, top notch and attractive.
They charge 2.9% + 0.30 cents and that’s normal.
But Stripe is only available for US citizens, and if you’re a non US citizen or foreigner, you still have hope.
Read the guide on how to setup a verified stripe account for Non US citizens here.
Which payment processor are you going to choose?
If you’re going to start accepting payments from international audience, then you need an international payment method.
You can use PayPal and Stripe.
You can always try flutterwave for international payments if you’re from Africa.
As for PayU, the chances of accepting you is slim, since they majorly accepts big businesses.
We hope you love our list of payment gateways for shopify dropshipping and please let us know which of the payment gateways you’re going to use.