Customers may abandon an online purchase when their preferred payment method is unavailable, the checkout process is complicated or the payment page does not appear secure.
Choosing the right ecommerce payment gateway can help your online store accept payments smoothly, reduce checkout friction and support business growth.
This guide compares four payment gateway providers commonly considered by ecommerce businesses in Singapore: PayPal, Stripe, eNETS and Worldpay. It also explains what to evaluate before selecting a solution.
What Is an Ecommerce Payment Gateway?
An ecommerce payment gateway is a service that securely transfers payment information between your online store, the customer’s bank and the payment processor.
It enables an ecommerce website to accept payment methods such as:
- Credit and debit cards
- Digital wallets
- Bank transfers
- Direct debit
- Local payment methods
- International payments
A payment gateway may also provide fraud detection, transaction reporting, recurring billing, refunds and integration with ecommerce platforms.
Which Ecommerce Payment Gateway Is Best?
There is no single best payment gateway for every online store.
The right option depends on:
- Where your customers are located
- Which payment methods they prefer
- Your average transaction value
- The currencies you accept
- Your ecommerce platform
- Transaction and recurring fees
- Settlement time
- Refund and chargeback handling
- Technical support
As a general guide:
- Stripe may suit businesses needing flexible integrations and multiple payment methods.
- PayPal may suit stores serving customers familiar with the PayPal brand.
- eNETS may suit Singapore businesses wanting local banking payment options.
- Worldpay may suit businesses requiring international payment processing.
Provider features, fees and supported methods can change, so confirm the latest details before applying.
Ecommerce Payment Gateway Comparison
| Payment Gateway | Best Suited To | Main Advantage | Key Consideration |
|---|---|---|---|
| Stripe | Startups and growing ecommerce businesses | Flexible integrations and a wide range of payment options | May require developer support for advanced setup and customization. |
| PayPal | Stores serving local and international customers | Recognizable payment option with a simple checkout experience | Review transaction fees and currency conversion charges. |
| eNETS | Singapore-focused ecommerce businesses | Supports local bank and card payments | Application and integration requirements may vary. |
| Worldpay | Businesses processing international payments | Global payment-processing capabilities | Compare contract terms, settlement periods, and service fees. |
PayPal
Paypal is a popular international payment gateway founded in 1998 as Cofinity and is supported by most of the eCommerce platforms, so it is also used by many eCommerce businesses in Singapore.
PayPal supplies fast and simple payment handling solutions for e-commerce suppliers, public auction sites and also other business entities globally. It likewise uses very easy cart integration, numerous personalization alternatives, online invoicing and promotes charge card payments over the phone.
Best for
- Small ecommerce businesses
- International customers
- Stores requiring a familiar payment option
- Businesses seeking relatively simple platform integration
Potential benefits
- Recognisable payment brand
- Support for online payments
- Integration with popular ecommerce platforms
- Customer and merchant protection features
- Invoicing and transaction-management tools
What to consider
Review:
- Transaction fees
- Cross-border charges
- Currency-conversion rates
- Withdrawal arrangements
- Account-hold policies
- Refund and dispute procedures
PayPal may improve trust among customers already familiar with the service, but it should not necessarily be the only payment option available.
There are two common options you can choose when registering with Paypal, which are PayPal Standard and PayPal Express.
What are the differences? Paypal Express having a better checkout experience for the user that already has the Paypal account and having their shipping/billing information stored in Paypal, they can simplify the checkout process without key in those information again.
How to register Paypal account?
Step 1: Sign up an account by selecting your account types.
Step 2: Fill in the account information to complete registration.
Stripe
Stripe is an ecommerce payment gateway designed for online payments, subscriptions and platform integrations. It supports businesses that need a flexible checkout process and may be suitable for both small online stores and more complex ecommerce operations.
Many big brands are also using Stripe as their payment method such as Deliver, Grab and Kickstarter.
Another cool part of Stripe is that they not only accept payment from debit cards and credit cards, they are still able to accept payment from WeChat Pay or AliPay in Singapore.
Best for
- Startups
- Subscription businesses
- Online marketplaces
- Businesses needing custom checkout functions
- Ecommerce websites serving multiple markets
Potential benefits
- Support for cards and selected digital payment methods
- Integration with major ecommerce platforms
- Recurring billing capabilities
- Developer tools and APIs
- Transaction reporting
- Fraud-prevention features
What to consider
Basic integrations may be straightforward, but customised implementations can require technical knowledge.
Businesses should also review:
- Supported payment methods in Singapore
- Settlement schedule
- Refund and chargeback fees
- International payment costs
- Recurring billing requirements
If you’re seeking for a fast and simple way to start processing card payment then Stripe has a variety of options.
How to register Stripe account?
Step 1: Go to Stripe & register an account.
Step 2: Login to dashboard and verify your email.
Step 3: Activate your account by completing the information.
Step 4: Submit application, wait 1-2 weeks for Stripe to verify your application.
eNETS
eNETS is a Singapore-focused payment solution associated with NETS. It supports payment methods relevant to local consumers, including selected card and online banking options.
They accepts direct debit in Singapore including all major credit cards and currencies. If you wish to use eNETS payment gateway, you require a bank account which is associated with your company’s name, so you can create the Merchant account where you will receive the customers’ payment. As other payment gateways, credit cards and debit cards are accepted as well.
Best for
- Singapore-based ecommerce businesses
- Stores targeting local consumers
- Businesses wanting local banking payment methods
- Merchants requiring NETS-related payment options
Potential benefits
- Familiarity among Singapore consumers
- Local card and bank-payment options
- Support for ecommerce transactions
- Integration with participating banks and merchant systems
What to consider
Businesses may need to complete a merchant application and meet specific technical or banking requirements.
Check:
- Setup requirements
- Subscription and transaction charges
- Supported banks
- Settlement process
- Integration documentation
- Merchant approval time
How to register eNETS account?
Step 1: Download the application form here, from eNETS.
Step 2: Complete the form and submit through their online enquiry form.
Step 3: eNETS representatives will contact you and assist on account registration.
WorldPay Singapore
WorldPay Singapore provides payment-processing services for businesses operating across local and international markets. It may be suitable for established ecommerce businesses requiring broader payment acceptance and cross-border capabilities.
If you are a Small and Medium Enterprise, then this might be your choice, as Worldpay has the competitive rate compared with other payment gateways, and you do not need separate merchant accounts for different payments from online and phone.
Best for
- Businesses serving international customers
- Companies processing higher transaction volumes
- Ecommerce businesses requiring multiple currencies
- Merchants needing broader payment-processing support
Potential benefits
- International payment capabilities
- Card-processing support
- Multi-market experience
- Reporting and transaction-management features
- Solutions for different business sizes
What to consider
Review the complete commercial arrangement, including:
- Setup costs
- Monthly or annual fees
- Transaction charges
- Contract duration
- Settlement schedule
- Currency-conversion fees
- Support availability
How to register WorldPay Singapore account?
Step 1: Select the option between “Agent free call” or “Apply online” here.
Step 2: For online application, you need to fill in the information and complete the registration.
Step 3: Select your desired plan and submit your application.
Step 4: WorldPay support person will assist to complete the application.
Common Ecommerce Payment Gateway Problems
Customers Cannot Use Their Preferred Payment Method
Offer payment methods suited to your main customer market rather than relying only on one card processor.
Customers Abandon the Checkout Page
Reduce unnecessary fields, make the payment process mobile-friendly and clearly display accepted methods before checkout.
Transactions Are Frequently Declined
Review payment settings, customer authentication, fraud rules and whether the gateway supports the customer’s card or location.
International Fees Are Too High
Compare cross-border and currency-conversion charges before expanding into overseas markets.
The Payment Gateway Does Not Integrate Properly
Use an officially supported plugin where possible and test the complete payment, refund and confirmation process before launch.
Payment Gateway vs Payment Processor
The two terms are related but not identical.
| Area | Payment Gateway | Payment Processor |
|---|---|---|
| Main Role | Securely captures and transfers payment data | Communicates between banks and processes the transaction |
| Customer Interaction | Often appears during the checkout process | Usually operates behind the scenes |
| Common Features | Checkout functionality, encryption, and fraud screening | Transaction authorization, settlement, and fund transfer |
| Ecommerce Importance | Connects the online store to payment processing services | Completes the financial transaction and transfers funds |
| Examples | Stripe Checkout, PayPal, eNETS | Worldpay, Fiserv, Adyen, Global Payments |
Some providers offer both gateway and processing services within one solution.
Which to choose
In Conclusion, choosing the best payment gateway for your eCommerce business depends on your nature and types of business, and ensure the payment method is able to support your business model.
However, in Singapore we have various great options to choose from, so perform the research and select the best payment gateway for your store, then start earning!
Wish to know how to build your eCommerce website? We have a great article for you:
How to Create An Ecommerce Website in 4 Simple Steps?
