Online marketplace payment solutions are digital tools to facilitate transactions between buyers and sellers. The payment solutions ensure shoppers buy products or services and sellers receive the funds securely.

Thanks to the speed and security of such means, you can shape your ecommerce business and its success. For instance, Uber succeeded in its global expansion right after it switched to Braintree. In early Uber’s scaling, even a dollar-euro currency conversion wasn’t available. Now, with the help of Braintree, it processes mobile payments in 130+ currencies in 80+ countries.

Of course, each online platform faces its particular marketplace payment challenges. So, you should rely on the best marketplace payment solution with the features vital right for your ecommerce platform. These solutions are Stripe Connect, Braintree, Dwolla, PayPal Commerce Platform, Mangopay, Adyen, and Exactly.

Read this article to learn what is a payment gateway and discover more about it. Here, we will dig deeper into two-sided marketplace payment processing. Plus, we will analyze popular blockchain and mobile payment solutions for marketplaces.

We hope our expertise will help to choose the best payment gateway for your online marketplace’s needs. Let’s dive into the subject.

How payment solutions help online marketplaces

Ecommerce payment methods differ depending on the marketplace type. So, let’s begin with the comparison of these types to define the suitable marketplace model for you.

Single vs multi-vendor marketplace

There are two main types of online marketplaces. In general, marketplace websites are divided into multi- and single-vendor websites. This distribution depends on the number of vendors on the platform. The marketplace web type determines how your web solution processes payments.

Payment processing on a single-vendor store is more straightforward than on a multi-vendor. On the single-vendor platform, all buyers pay one supplier. A single-vendor website owner must provide marketplace payment details to get money.

What are the two-sided marketplaces (they can also be called multi-vendor, P2P, or peer-to-peer)? Actually, it’s an intermediary platform for many vendors to sell goods to many buyers.

Comparison: single and multi-vendor marketplace

For multi-vendor marketplaces, the payment process is quite a complicated challenge. On such platforms, there are a lot of sellers with many bank balances. Moreover, multi-vendor marketplace owners should make a profit from their online stores.

Also, the multi-vendor marketplace website enables buyers to purchase from various merchants simultaneously. So, allowing users to pay for the entire cart in one go is essential. Thus, they will be able to shop from many suppliers and pay quickly for purchases.

Payment gateway or payment solution definition

So, what is a payment gateway? A payment gateway (portal) is a dedicated software application or service designed to securely and effectively handle online transactions between a customer and merchant account. It is the essential connection between the merchant's website or mobile app and the various financial institutions engaged in the payment process.

These solutions help you to control marketplace payments quickly and conveniently. In general, the work of the gateway is divided into five stages:

  • The client enters payment information (card number, expiration date, and so on).
  • Then, an order is formed, and the seller's website sends the information to the payment portal.
  • The gateway redirects the request to the company that issued the credit card of the user.
  • After that, the gateway receives confirmation of authenticity and authorizes the payment.
  • Finally, the ecommerce payment gateway sends the money to the merchant.
The process of work of payment gateways

Payment gateway vs payment processor

What is payment gateway compared to a payment processor? One key distinction lies in how ecommerce payment gateways operate. They capture and transmit credit card information to the payment processor. Additionally, they handle the crucial task of conveying approval or rejection of transactions.

Meanwhile, ecommerce payment processors work discreetly in the background. A payment processor ensures secure data transfer among various parties until the funds are settled in your bank account.

By the way, payment methods for online marketplace businesses aim to address multi-party transactions. There are some specific challenges for them. They include:

  • fraud protection;
  • handling multiple marketplace payments;
  • dividing funds between your merchants.

So, you need to verify which providers cope with all this well when choosing a payment gateway vs payment processor.

Knowing who will perform as a merchant of record (MoR) in transactions is no less essential. That means either you or your merchants will assume financial and legal liabilities.

You may also like: Best Monetization Practices to Build a Successful Online Marketplace

Buyers return to in-person shopping and use digital payment solutions for convenience and speed. Credit card options or digital payments? Which of them brings versatile experiences to buyers? Let’s discover in more detail the payment trends that will work best for marketplaces in 2024.

Marketplace payment trends

A blend of online and offline payments

Even though shoppers spend more time in brick-and-mortar stores, they are used to digital payment solutions. Shoppers stick to frictionless payments rather than pay with credit cards and get paper receipts. Frictionless payments reduce payment steps, including auto-renewing subscriptions, one-click payments, in-app payments, and mobile and digital wallets.

Shoppers can order in-app and pick it up in a store. This combination of digital payment and in-person buying allows you to get more sales for your marketplace. Thanks to payment methods’ versatility, shoppers can choose the best payment option that suits their needs.

Digital wallets

This option has become the norm among other ecommerce payment solutions. If you include Google Pay or Apple Pay digital wallets in your marketplace, you will gain more revenue options that expand how customers pay you.

According to Juniper Research, a primary authority on emerging payment technologies, transactions with digital wallets will grow from $9 trillion in 2024 to $16 trillion in 2028. It means a growth rate of 77%.

Buy now, pay later (BNPL) services

The BNPL market will reach $155.79 billion in 2024 at a compound annual growth rate (CAGR) of 48.2%. The BNPL sector is expected to reach a staggering $744.06 billion by 2027.

This service is a win for marketplace owners and customers. As shoppers can split their payments, they are more inclined to buy immediately. Marketplace owners and sellers can convert customers by offering lower initial payments. At the same time, shoppers can access higher-priced items without running out of cash.

One of such technologies is Shop Pay from Shopify. Vendors use it to foster conversions across different channels and strengthen brand loyalty. For example, PillowCubes saw a consistent growth in average order value after introducing this payment technology. Other prominent players in the BNPL sector are Affirm, Sezzle, and Klarna.

It is a technology where a customer pays via the web link on the phone, chat, or social media. The primary benefit is that customers can pay without using credit card details shared over the phone or in a text message.

Many providers are offering pay-by-link services. Stripe, Adyen, HubSpot Payments, Square, PayPal, and QuickBooks Online offer such payment options.

Payments by QR code

This technology has made a distinguished comeback and is now used in different industries, including online marketplaces. The QR code market is predicted to grow from $2.9 billion in 2024 to $4.8 billion in 2028, with a growth rate of 59%.

QR codes facilitate sales via different channels, such as in-person, online, and social media. Brands benefit from the versatile use cases of this technology, which helps build brand trust and boost conversions.

For example, Levi’s put codes on the tags of actual clothes so shoppers could scan the codes and see available items online, including sizes and colors. Starbucks tracks its customers’ recurring orders, locations, payment methods, and preferences through QR codes. Thus, the company customizes loyalty and rewards programs based on the collected data.

You can also promote user-generated content in your marketplace. For instance, Circle K, a chain of convenience stores, offered free drink fill-ups for a year to a lucky winner who scanned a QR code and left a review.

You may also like: 11 Brilliant B2B Ecommerce Trends in 2024 and Beyond

Types of marketplace payment solutions

Choosing a payment system that meets your marketplace’s needs is vital to keeping it running. Ecommerce payment systems ensure smooth and secure operations via your marketplace, making it trustworthy for customers. Let’s look closer at the main payment tools marketplaces can use.

Marketplace payment solutions

Escrow payment system

This approach helps to retain the transaction amount in the escrow provider while the buyer and seller settle the deal. If a buyer gets a satisfactory product or service, the seller gets the payment. The transactions can vary from tens to thousands and millions of dollars for consumer-to-consumer (C2C), business-to-consumer (B2C), and business-to-business (B2B) marketplaces.

Split payment

It suits multi-vendor marketplaces, providing a place for sales for many sellers. So, it means that shoppers will buy from different vendors. That is why split payments help many vendors. If you work with a payment service provider, they can ensure that the order amount is divided correctly between the sellers.

Mass payout

It is also known as batch or bulk payout. This approach is used when a business pays many contractors, suppliers, or sellers simultaneously. Mass payouts can be used in freelance and ecommerce marketplaces, delivery companies, and subscription-based businesses. Companies use accounting software or integrations to pay in bulk.

Digital wallets

These services store digital versions of debit and credit cards for making payments. Digital wallet apps are convenient as people can use them on mobile devices. Widely used digital wallets are PayPal, Apple Pay, Google Pay, Amazon Pay, and Alipay.

ACH transfers

These are bank-to-bank payments processed via an Automated Clearing House (ACH) Network. They are suitable for direct payments between buyers and sellers. For now, ACH transfers are limited to the US only. So, marketplaces working internationally should opt for other payment solutions.

Credit and debit cards

These ecommerce payment options are standard for marketplaces. You can partner with payment gateways to ensure a stable and secure payment process with credit and debit cards.

Cryptocurrency payments

Accepting payments in cryptocurrency is not a widespread practice. Yet, some marketplaces accept Bitcoin and Ethereum for payment. For instance, Crypto Emporium, an online retailer, accepts cryptocurrency payments. You can pay for the goods with Bitcoin, Ethereum, Tether, Dogecoin, and others.

Payments in installments/BNPL

This approach enables shoppers to split their payments into parts for specific periods. It is also called Buy Now, Pay Later (BNPL) and can attract customers who cannot pay the total sum upfront. Typically, marketplaces using this approach charge no interest. For example, Zip, a leading fintech, offers BNPL services to prominent stores like Amazon, Target, Walmart, and eBay.

Read also: Key Trends in Digital Marketplace Industry in 2024

Choosing an ecommerce payment system: factors to consider

The payment gateway should be convenient for marketplace owners and customers. Depending on several criteria, you can choose the best payment option for the services you need. Below, we consider those aspects so you can choose between payment processing companies and meet your marketplace operations. Let’s see what those factors are.

Factors when choosing a payment gateway

Check your marketplace’s needs

Different types of marketplaces require specific features tailored to their needs. So, the following options can be the basis for choosing a payment gateway:

  • single-vendor or multi-vendor marketplace;
  • need for a mass payout system to pay merchants, creators, or freelancers;
  • collecting a percentage of fees;
  • creating a point of sales integration for in-person sales;
  • handling recurring subscriptions.

Fees and charges

If you integrate a payment gateway into your marketplace, consider the fees and charges collected for using the payment solution. The following are types of commission that payment companies include in their tools:

  • transaction fees;
  • monthly plans;
  • discounts for high payment volumes;
  • charges for currency conversions and international cards;
  • alternative payment methods with cheaper options.

Supported locations

The most popular payment gateways are available in the US, Canada, Europe, Australia, New Zealand, and Asia. Still, particular payment gateway providers do not offer services in certain regions. For example, the following geo-restrictions apply:

  • Stripe supports Indonesia with invite-only;
  • Dwolla is available only in the US;
  • PayPal supports the US, Canada, Europe, Australia, New Zealand, and some Asian countries.

You can use a workaround to go beyond limitations and implement Visa or MasterCard payments available globally.

Number of payment options

A third-party website needs to support the payment method to ensure your customers can finish their purchases. It is better to have many payment options than fewer to help your customers with their transactions. Popular ecommerce payment methods used online include the following:

  • PayPal, PayPal Credit;
  • Venmo;
  • Google Pay;
  • Apple Pay;
  • Visa;
  • ACH;
  • Digital wallets.

There are popular cards that marketplaces can accept, such as:

  • Visa;
  • Mastercard;
  • American Express;
  • Union Pay;
  • Maestro;
  • JCB;
  • Discover;
  • Carte Bancaire;
  • Diners Club.

Certain payment methods are available in specific countries, so you can also check them out. For example, iDEAL is widely used in the Netherlands, Giropay works in North America and Europe, and Konbini operates in Japan.

Popular platforms also support cryptocurrency transactions. Exploring this type of payment can open new revenue opportunities in your marketplace. For example, Stripe and PayPal offer such services.

Security services

Marketplaces using credit data must comply with PCI DSS (Payment Card Industry Data Security Standard). It protects credit card numbers, expiration dates, and security codes.

Payment processors simplify the compliance procedure by providing integrations for checkout pages. So, the website does not store sensitive data, which goes directly to the server instead.

Another security tool is a 3D-secure feature. It provides additional verification via the issuing bank’s website and a code sent to the cardholder’s phone. Also, the Know Your Customer technology provides client identity checks. So you can prevent unlawful operations with money.

At Codica, we keep a vigilant eye on security and continuous app operation. Thanks to robust DevOps services and solutions, our platforms and apps work smoothly and provide the best user experience.

Mass payouts

This technology allows for multiple payments at once. It best serves multi-vendor marketplaces when an owner pays multiple sellers. Also, you reduce errors and save time.

Transaction limits

Payment platforms typically set maximum transaction limits. Also, remember to check if there are minimum amounts for transactions. If you are not sure, contact the payment platform’s support.

Payment gateway integration

Companies offering ecommerce payment gateways should provide plugins or other means to integrate with existing e-commerce solutions. Integrations should be easy and secure.

If you want to create a custom integration, the payment platform should provide relevant documentation and support for developers.

Smart functionality and add-ons

It is convenient if a payment gateway provides features for better productivity. For example, Stripe Tax is a feature that allows calculating, collecting, and reporting taxes.

Chargebacks and refunds are also significant for marketplaces. The platform should ensure easy settlements for processing canceled payments.

Further reading: B2C Ecommerce Marketplaces: All You Should Know Before Building One

The best payment gateways for two-sided marketplaces

In the realm of two-sided marketplaces, selecting the best payment gateway hinges on several factors. These aspects encompass distinct prerequisites, geographical location, and the target audience. Below, we present a collection of well-regarded ecommerce payment solutions.

Stripe Connect

Payment solution Stripe Connect

Stripe is one of the well-known ecommerce payment providers for individuals and different-sized businesses. For now, it supports online payments in 46 countries. Stripe Connect powers ecommerce payment processing on two-sided marketplaces and crowdfunding platforms.

Stripe has the most straightforward merchant onboarding compared to other payment methods for marketplaces. Your sellers just need to connect their accounts to your marketplace to start. It also provides split marketplace payments and allows you to set a service fee for each sale. Beyond that, your vendors can act as MoR.

Furthermore, Stripe allows each seller to customize an invoice depending on the consumer and adapt it to a specific brand.

Stripe Connect comes with a wide range of benefits:

  • support for 135+ currencies;
  • multiple payment acceptance;
  • high-level security compliant with Payment Card Industry Data Security Standard (PCI DSS) (+ Stripe’s original tool, Radar);
  • developer-friendly documentation and clean API;
  • quick onboarding for merchants;
  • dashboard for management to control your business.

Although Stripe is expanding, now it’s focused on the Western world. It handles payments mainly in the USA, Australia, and Western Europe. You can check if it’s already available in your region on Stripe's official website.

The marketplace businesses using Stripe Connect include Lyft, Kickstarter, and Expanding internationally, these online businesses faced difficulties with local regulatory compliance. Stripe Connect was just the marketplace payment solution that handled that well.

At Codica, we also use Stripe in marketplace development. For example, recently, we developed a marketplace for caravans. It is an Australia-based project intended for camper fans to sell or buy new or utilized recreational vehicles.

Below, you can see a short overview of this caravan-selling website project. Here, we show the process of using it.

Using the latest techniques, we provided our client with an efficient, user-friendly, and modern web solution. Our developers chose Stripe for this platform for fast, secure, and simple marketplace payments.


Braintree payment system

Braintree is a payment software provider for ecommerce platforms and mobile apps. It offers processing payments in 45+ countries. It is pretty competitive among other payment solutions for online marketplace businesses.

Braintree supports split payments, which is a helpful option if you want to build a two-sided marketplace. It divides your merchant payments and automatically sends a commission fee to a marketplace owner. It’s also good news that your vendors can perform as MoR in transactions.

Braintree provides your platform with the following benefits:

  • support for 130+ currencies;
  • multiple payment acceptance;
  • advanced SDK (software development kit) features (Drop-in and Custom-UI integration options);
  • high-level security compliant with PCI DSS (+ Braintree’s Fraud Management Tools).

Currently, the payment gateway supports the United States, Canada, Australia, Europe, Singapore, Hong Kong SAR China, Malaysia, and New Zealand. So, registration in these countries is required for using Braintree.

Some of the marketplace businesses using the Braintree provider are Hotel Tonight, Poshmark, and Trouva. Targeting mobile-first users, they sought safety and a great customer experience. With excellent SDK features and advanced protection, Braintree could meet the payment needs of these companies.

Further reading: 14 Main Integrations That Every Marketplace Needs


Dwolla payment gateway

Dwolla is a payment processor used in mobile platforms and e-commerce marketplace development. It offers advanced Automated Clearing House (ACH) - a payment solution for American marketplaces. An ACH is an electronic system that entities use for managing banking transactions.

This online payment gateway handles two-sided marketplace payments, facilitating the participants' fund flow. In other words, it combines pay-in (funds going from customers) and pay-out (funds going to vendors) flows to undertake a transaction. Acting as a money transmitter, marketplace owners get their service fee.

It’s worth noting that with this payment solution, a marketplace owner needs to be an MoR and assume all the related responsibilities.

This gateway provides marketplace payments with such crucial features:

  • support for ACH direct bank transfer in US dollars;
  • automated mass payments;
  • developer-friendly documentation and clean API;
  • high-level security compliant with PCI DSS.

Among other popular payment gateways for online marketplaces, this one has the tightest location focus on the US market. To use it, all three parties must be registered in the United States.

Some of the marketplaces using this payment solution are GOAT, Nomad Health, and Tophatter. Scaling up, these ecommerce platforms needed to simplify and speed up their marketplace payouts. The Dwolla payment gateway helped them to address this challenge through ACH-optimized APIs.

Related reading: How Much Does It Cost to Build a Marketplace Website in 2024?

PayPal Commerce Platform

PayPal payment gateway

The PayPal company is the oldest and most popular payment provider that started in 1998. For now, it has over 431 million users in 202+ countries. It means that you will get access to a great audience of shoppers.

PayPal active users globally


PayPal has its marketplace payment solution known as PayPal Commerce Platform. It offers unique features for two-sided marketplace payments. You can opt for Managed or Connected integration paths according to your needs.

With the Managed path, you act as a Merchant of Record (MoR) and control the dividing of funds among your vendors. With the Connected path, PayPal splits payments and enables your merchants to be MoRs. Yet, to use it, your merchants are bound to have PayPal Business accounts.

So, compared to other payment gateways for marketplaces, now it has a limited option to select partners only.

Other PayPal Commerce Platform’s main features include the following:

  • support bank transfers in 100+ currencies;
  • multiple payment acceptance;
  • high-level security compliant with PCI DSS (+3D Secure 2.0);
  • support for split and mass payments.

Marketplaces using PayPal include such brands as Grailed, iFundWomen, and Replin. Entering new markets, these companies aimed for a secure and reliable marketplace payment portal. Being famous and trusted worldwide, PayPal happened to be ideal for them.

We used PayPal when developing the first automotive marketplace in Africa. This solution covers various regions of Africa and connects shoppers with private sellers and dealers. On this platform, users can easily purchase or sell autos, motorbikes, and trucks.

By the way, you can watch a short video below to understand how this solution works.

To provide maximum security for online buyers, we integrated the PayPal payment method into this project. Also, we can build a custom payment solution for your needs. You will get a smooth and robust solution thanks to the optimized tech stack and our quality assurance services.

You can also see other successfully delivered case studies in our portfolio to learn more.


MANGOPAY payment gateway

Mangopay is a comprehensive ecommerce payment system for crowdfunding, fintech platforms, and marketplaces. Unlike other traditional payment solutions, Mangopay delivers its users with a convenient API.

Also, the payment gateway offers a white-label solution. A white label is a partnership in which one company launches a product, and another sells it under its brand. Mangopay's marketplace payment solution may be easily integrated into users' designs.

This marketplace payment platform accepts multiple currencies and online payment methods. Furthermore, it stores funds in segregated accounts and automates payouts.

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The Mangopay ecommerce payment gateway provides your platform with the following advantages:

  • practical and accessible dashboard to manage your business;
  • white-label solution to setup e-wallets;
  • multiple payment acceptance;
  • clean and developer-friendly API;
  • high-level security compliant with PCI DSS, PSD2 (the revised Payment Services Directive 2), GDPR (General Data Protection Regulation) (+3D Security).

Mangopay provides payment gateway services for global and leading European marketplaces. They are Vinted, Leetchi, Chrono24, Wallapop, La Redoute, Rakuten, and others.


Adyen payment gateway

Adyen is one of the popular payment gateway providers. It was launched in 2006. Since then, this payment tool has become one of the most popular service-oriented payment gateways. Adyen can be characterized as a flexible, functional, and safe payment tool. It provides a standardized customer experience and is available in 18 European countries. Moreover, this tool is available in Brazil, Mexico, China, and Southeast Asia.

Adyen secures customers with the embedded Revenue Protect solution. This risk management toolkit is effective against fraudsters. Revenue Protect keeps customers’ credit card info safe.

Adyen provides marketplace payments with such important features:

  • support of payments in 37 currencies, including payouts, bank transfers, and more;
  • no monthly fees, payment gateway integration, setup, or closure charges;
  • multiple payment methods;
  • smooth onboarding process for new users;
  • high-level security compliant with PCI DSS (+Adyen’s tool, Revenue Protect).

Popular marketplaces that use Adyen include such giants as Uber, eBay, Etsy, and many others. This tool is also well-suited for small businesses thanks to the security and optimization tools, plus setup and zero monthly fee.


Exactly payment gateway

This ecommerce payment gateway provides a complete set of features for payment processing. Exactly offers API integration and hosted pages for one-day payouts. The provider suggests global acquiring, a payment gateway, as well as mass and recurring payment processing. Businesses also benefit from chargeback and dispute resolution options.

Exactly applies high-security standards, such as Know Your Customer, 3D Secure, tokenization, ML-empowered analytics, and more.

The payment system operates with over 150+ currencies, 21 payment methods, and the necessary supporting integrations for ecommerce payment processing.

The provider suggests various payment methods with the following features:

  • flexible pricing plans;
  • easy setup;
  • anti-fraud systems;
  • integration with major content management systems;
  • PCI DSS compliance and SSL data encryption.

Besides payment gateway services, the company offers convenient dashboards that give insights into their customers’ ecommerce businesses.

You may also like: How to Create an Online Service Marketplace: Ultimate Guide

Choosing the right payment solution for an online marketplace

You should pay attention to the following steps to choose the right marketplace payment gateway:

  1. Verify if it supports payments in your region. Now, PayPal, Stripe, Adyen, Exactly, and Mangopay are more flexible. They have global coverage for partners. In turn, Braintree and Dwolla are suitable for US marketplaces.
  2. Check international marketplaces’ support (if it’s necessary for you). Stripe, Adyen, Mangopay, and PayPal fit if your sellers and buyers live in different countries.
  3. Opt for your appropriate MoR strategy. In this view, with Dwolla, you, as a marketplace owner, will be a Merchant of Record. Braintree, Mangopay, Adyen, and Stripe allow your sellers to be legally responsible for transactions. Finally, PayPal offers you both options to integrate.

We have prepared a detailed comparison table below. Here, we consider the main features of the above-discussed marketplace payment methods. So, you can choose the best ecommerce payment systems when preparing to employ a multi-vendor marketplace development service.

Comparison of the top payment gateways

Blockchain payment solutions

2024 was a volatile year for cryptocurrency, with uncertain markets and regulatory concerns. Still, the cryptocurrency market had positive trends. For example, Bitcoin gained an upward momentum among other cryptocurrencies. Investors saw Bitcoin as a safe place compared to less stable altcoins.

Cryptocurrency gateways enable enterprises to accept transactions of cryptocurrencies as payments from customers. These currencies are paid for goods or services.

Below, we’ll consider a few options for marketplaces that want to integrate the latest alternative payment technology.

Coinbase Commerce

One of the best payment solutions is Coinbase Commerce

Coinbase Commerce is a cryptocurrency web payment service for businesses. It was launched by Coinbase, the largest US cryptocurrency exchange. This payment service aims to make digital currency transactions easier for businesses, using advanced technologies like custom enterprise software development. In short, this marketplace payment solution allows enterprises to accept cryptocurrencies. They include Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), USD Coin (USDC), Bitcoin Cash (BCH), and Dai (DAI).

Coinbase is similar to Stripe and Paypal. Why? The payment gateway also offers one essential service and then introduces more products with different price types.

For example, Coinbase Commerce allows its clients to open trading accounts. Customers also can integrate their account information into their platform. Also, this payment system enables users to optimize the process of verifying the cryptocurrency.

The Coinbase Commerce software platform has many features, but let's see its main benefits:

  • convenient dashboard to control your business;
  • low-cost transaction fees;
  • extremely secure data encryption;
  • immediate release of payments;
  • exchange accounts are available in 100+ countries.

Coinbase Commerce is used by many marketplace businesses. They include,, and more.

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BitPay payment solution

BitPay is the greatest Bitcoin payment service provider. It allows vendors to take BTC as marketplace payment. Unlike most other payment processing companies, BitPay charges a low fee for processing transactions and converts them to fiat. Fiat is any currency created and regulated by the government (dollars, euros, and so on).

All buyers have to do is select cryptocurrencies as a payment method with suppliers that support BitPay and then pay the bill from their digital wallets.

The BitPay payment gateway accepts various cryptocurrencies. They are Bitcoin Cash (BCH), Dogecoin (DOGE), Wrapped Bitcoin (WBTC), Ethereum (ETH), Litecoin (LTC), and Shiba Inu (SHIB). Moreover, BitPay supports five stablecoins (USDC, GUSD, USDP, BUSD, and DAI).

BitPay marketplace payment system has the following pros:

  • secure money transfers;
  • good exchange rates;
  • the ability for users to shop with Mastercard;
  • low transaction fee.

BitPay has an impressive list of marketplace businesses using it, including Newegg and Airbnb. With the help of BitPay, they provide their solutions with powerful tools for crypto spending and acceptance.

Mobile payment solutions

Google Pay and Apple Pay are two popular mobile payment technologies.

They ensure a secure and straightforward way to pay for services or items. Thus, users can securely and quickly provide their shipping, payment, and contact information to confirm the order. So, you can integrate these two technologies in mobile app development.

Payments by Google Pay and Apple Pay are processed via a compliant credit card payment portal.

Below, we will consider these two payment technologies people use daily.

Apple Pay

Example of mobile payment solution by Apple Pay

Apple Pay first appeared in 2014 in the US. It's a simple, secure, and private way to pay for purchases in apps, stores, and online. This payment method is available on iPads, iPhones, Mac computers, and Apple Watches.

Users can apply the Apple Pay online payment gateway to pay in Safari 2 and 3. It is also possible to pay for the invoice within the app when users have Apple Pay as a payment method. Apple Pay money transfers are protected by security features. They are implemented into the device's software and hardware. Also, the Apple Pay system is designed to protect the user's data.

Notably, Apple does not access or store the original debit, prepaid, or credit card numbers added to Apple Pay. When users apply for credit, debit, or prepaid cards with Apple Pay, Apple does not collect any information that can identify users.

The Apple Pay payment gateway comes with the following benefits:

  • enabled by NFC (Near Field Communication);
  • Face ID or Touch ID for secure authentication;
  • accept payments in more than 65 countries;
  • robust security and privacy policies.

Amazon, Etsy, eBay, and many other marketplace businesses use Apple Pay to pay for goods or services. That’s because this best payment solution is convenient for users. Have you tried implementing the ability to pay with Apple Pay in your marketplace business?

You may also like: How to Build an Online Marketplace: 17 Tips for Aspiring Entrepreneurs

Google Pay

Google Pay payment solution

Google Pay, formerly Android Pay, lets users shop and transfer money. To pay with it, users need to create a Google account.

Google Pay is a highly secure payment tool. It was developed with several security layers to ensure users' money isn't stolen or misused. The numbers of users' credit cards are not shared with anyone or saved.

Other Google Pay’s main benefits include:

  • NFC-enabled;
  • free for both vendors and customers;
  • clean and developer-friendly API;
  • quality customer support.

Google Pay is a choice of such brands as eBay, Etsy, and many other thriving companies.

Apple Pay vs Google Pay

So, we have considered the main characteristics of Google Pay and Apple Pay payment solutions. Both of them are simple ways to make a payment through the phone. It is a convenient method whether people buy goods or shop online.

Apple Pay is great for simple and quick payment. Google Pay stands out with many useful functions. The main difference is that Google Pay was developed for Android devices. In contrast, Apple Pay works mostly on iPhones, iPads, and other devices with IoC.

Recommended reading: How to Build a Multi-Vendor Marketplace Platform From Scratch

Summing up: grow your business with top payment solutions

Now, you understand entirely “what is payment gateway”. We have considered the greatest online marketplace payment options. They offer seamless security and advanced options for payment processing.

Braintree and Dwolla could be great for you if you have a US-oriented platform. Stripe, Mangopay, Adyen, Exactly, and PayPal are gateways best suited for international online trading. Coinbase Commerce and BitPay help to accept payments and trade cryptocurrencies securely. Apple Pay and Google Pay are some of the best NFC services that work globally.

The choice of payment solutions for marketplace businesses is crucial. However, it is not the only factor you need to consider to start an online marketplace website. One of the most important factors is having a reliable and experienced development partner.

If you need any help with online marketplace development, Codica is ready to transform your ideas into reality. Contact us to discuss them right now!

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Dmytro is a software entrepreneur with 20+ years of experience focused on the Lean Startup approach. He loves helping startups build excellent custom products.
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