Cloud technology has led to a number of revolutionary changes in online commerce. One of the reasons that Amazon Web Services, arguably the best cloud provider in the world, is growing by 29% a year is due to the massive demand for cloud services among e-commerce companies.
There are a variety of ways that the cloud is assisting with these services. One of the biggest reasons that online stores are dependent on cloud technology is that it offers a lot of payment processing services.
Cloud-Based Payment Processing Services for E-Commerce Companies
Integrating online payment systems puts you in a great position during the checkout process. A modern UPI (Unified Payments Interface) system takes an important chunk of online payment features and makes them work together. Online marketplaces are competitive, so innovating the checkout process is the best way to boost your business profile.
A lot of the newer online payment processing services rely heavily on cloud technology. Some of the biggest payment processors using cloud technology are listed below.
1. Razorpay
Ever since they prioritized integration, Razorpay has been on the rise. It is a solid payment method for any business that wants their online store to flourish. With Razorpay, you’ll get a modernized payment method that is continually innovating.
Razorpay is among the payment processors using AWS to offer the highest quality of cloud solutions to customers. Their unique cloud solutions make them a highly reliable payment processor.
2. Google Pay
Google has been one of the most ardent adapters of cloud technology in the world. They have integrated a variety of cloud solutions into every facet of their business. One of the most important for e-commerce companies is Google Pay.
Google Pay is a silent winner for many organizations. Consumers know about it and love it, and companies are beginning to catch on to its usefulness. With the parent company having such a large market share, this method makes since for many reasons.
3. Apple Pay
Apple pay has been consistently using cloud services for several years. Even if you’re not fully in the Apple ecosystem, their payment method is one of the most widely accepted in the world. After several updates, it is still one of the easiest ways for consumers and companies to do business.
4. PayPal
PayPal has earned its trust through customer service and branding. They are still the most integrated payment system, and the most known name on any online payment list.
They recently announced that they are using Google Cloud to accelerate their evolution in their sector.
5. Stripe
Stripe is a payment platform that has benefited from quick growth and a steady list of integration options. Most of the add-on checkout options have been tweaked for performance and user friendliness. For smaller companies, Stripe is a great payment method to grow with.
6. Square
The style of Square is unmatched, and their importance to small businesses is well-known. Square started as a functional cloud-driven POS processor and has grown into a powerful ecommerce payment option. Integration options are plentiful, and the company is not shy about adding features.
7. Payoneer
Payoneer is the go-to cloud-based payment processor for international users. Its integration meets or exceeds PayPal’s, and their customer service is the best available. For many businesses, Payoneer is an important part of their daily operations.
8. Amazon Pay
Amazon is right there with Google when it comes to brand recognition. Amazon Pay is still learning the ropes, but is well respected in business circles. For company’s that specialize their services, online integration with Amazon Pay is a welcome advantage.
9. Visa Checkout
Like all things Visa, the Visa Checkout option is all about convenience. They were one of the first companies to the party when it came to online integration at checkout. Millions are enrolled, so that gives you a good idea of how many people will appreciate having Visa Checkout as an option.
10. American Express
Market share has always been a concern with American Express. Their integration is low, and the company is selective with their business partnerships. The upside to all of this is that American Express consumers pay a higher average per service and product. Managing this correctly could mean big income for a business of any size.
Cloud Technology is Changing the Future of Payment Processors for Online Stores
Over time, you’ll find a lot of cloud-based solutions to keeping your customers engaged. A UPI with a strong customer focus will always be at the top of the list. Use the right payment method when it counts and consumers will continue to prefer your products and services.