February 19

Payment Platforms That Set Themselves Apart


Technological evolutions in the financial sphere are always welcomed by the masses, with each innovation in the field specifically designed to bring ease of transferring money in a safe and secure environment. The global eCommerce market, increased connectivity and diffusion of physical borders has led to multiple online payment platforms that provide monetary services to millions of people worldwide.

Though every platform provides a variety of services that help people send and receive money, there are a few that set themselves apart. Following are payment systems that offer exceptional services and are renowned across the globe.


Image Source: PayPal

A setback in launching security software for hand-held devices in the ending days of 1998 led to Max Levchin, Peter Theil and Luke Nosek turning their attention towards developing a digital wallet and launching PayPal. Industry maverick and innovation leader Elon Musk joined the team and they never looked back. Nearly two decades later, PayPal serves over 346 million users and caters to 202 markets and 56 countries

PayPal’s innovative services have led to industry-leading deliverables. The registration is free and there are no annual membership charges. The ability to send and receive money anywhere in the world is its strong suit and it keeps up with the times–the latest example being its support to buy and sell cryptocurrencies.


Image Source: Square

Jack Dorsey came up with the idea of Square when his friend Jim McKelvey was unable to finalise a $2,000 USD sale because he had no way of accepting a credit card payment.

Dorsey and McKelvey set-up the payment processor designed to decrease the entry-barrier for small businesses that would otherwise suffer the same fate as McKelvey’s. The result was a small square-shaped device (hence the name) that merchants could attach to their mobiles using the standard 3.5 mm audio jack. The accompanying app gave small stores and sellers the ability to have a credit and debit card swipe-enabled PoS in their pocket.

Square has offered other products over the years that many others don’t, empowering businesses further with the following capabilities:

  • Business financing to merchants through its dedicated Square Capital venture
  • Online booking ability to create appointments on business websites directly
  • Payroll facility for business using Square Payroll
  • Remote B2B access to the Square network through APIs

Square has also expanded its services to include individuals as well. Since 2013, Square users have been sending and receiving money directly from each other. The platform also supports Bitcoin, letting users spend the cryptocurrency just like fiat via a dedicated debit card.

Google Pay

Image Source: Google Pay

Google, the internet giant, forayed into the online payment processing industry in 2011 with its Google Wallet, letting people send money simply by entering the email address or mobile number of the recipient. The receiver then could cash out the money through a linked bank account. Google launched another service, Android Pay in 2018, geared towards the use of Android-based devices (mobiles, tablets and Android watches). Both these products merged into a single Google Pay in 2018.

Google Pay leverages the latest in contactless systems. Users can upload their debit and credit card information on it and use Near Field Communication (NFC) to simply tap their devices on compatible PoS terminals to make payments. The internet giant also offers advanced security features, such as creating a local account on Google Pay that’s presented on payments at PoS, the original cards’ data hidden and away from prying eyes.

Among the largest user bases, linking bank cards to devices and ease of sending money in a few taps makes Google Pay one of the most diversified payment processors. The service completely replaces the use of bank cards, acceptable anywhere a card can be — even for bus fares.


Image Source: Stripe

Billing itself as the payments infrastructure for the internet, Stripe is a payment processor that’s perhaps one of the most holistic platforms out there today. Rather than simply offer a money transfer platform, Stripe has a wide range of products and services, making integration a possibility in almost every conceivable online business.

Stripe’s services are neatly defined in three distinct areas:

  • Payments: Payments allow for simple online P2P transfers, PoS, online payment systems for different platforms and even recurring billing.
  • Financial Services: Designed for corporate and business financial handling, enabling creation and management of spending cards, capital financing and even a treasury service under the banner of Banking as a Service (BaaS).
  • Business Operations: Whether large or small businesses, firms can get services that are inline with not only regulations but also help them understand their financial conditions through custom reports, startup guidance and fraud management. Stripe even offers a sustainability feature, helping to reduce its carbon footprint.

Stripe is a favoured provider for many big firms, some of which are Fortune 500.

Apple Pay

Image Source: Apple Pay

Apple’s sleek designs and smooth user experiences are globally renowned. The same philosophy is carried into its payment processing. Having entered the market later than other well-established businesses, Apple Pay creates a frictionless experience for people to send money with just a tap, and incorporates its Touch ID and Face ID security features to recognize the sender.

The security level doesn’t end here. Apple enters an agreement with a bank before offering services to its users, enabling the bank to integrate its tokenization services. Each bank card that’s registered on Apple Pay receives a unique token. The token’s data is only shared with the bank at the back-end when a payment is made. The bank uses the token ID to determine which card is swiped and authorizes valid transactions. Card information is secured this way and never shared.

Individuals can also send cash to each other through Apple’s iMessaging service, negating the need to enter recipient account numbers.

Simplicity is what Apple Pay is all about.


Image Source: Due


Due is a complete end-to-end payment processor that’s built for small businesses and freelancers. It takes care of all the aspects of bill management, letting its users concentrate on what matters: their business. Due creates a whole ecosystem that includes customized invoicing, project management and even a time-tracking feature to monitor remote working for hour-based jobs.

Due offers firms the ability to accept debit and credit cards at low costs internationally, all under an umbrella of its digital security. Due currently accepts payments from over 25 countries, with the list constantly expanding.

With upcoming features such as ACH support and electronic cheques, Due’s all set to do away with time-consuming manual paper-invoicing and cheques. The platform’s also working on a digital wallet to let freelancers and small businesses store payment online securely.


Image Source: BitPay

Financial transactions are much easier with cryptocurrencies. Digital alternatives to traditional money, cryptos’ core functionalities make them more secure, efficient and faster. However, transforming the current traditional ecosystem to include cryptocurrencies has had a few hiccups. Crypto payment pioneer BitPay reduces crypto-adoption friction, clamps down on fraud and enables just about any business to enter the borderless system.

Founded in 2011, BitPay has changed how businesses interact with individuals and organisations to accept Bitcoin and other cryptos in place of fiat. The services include a dedicated BitPay wallet to hold cryptos and even a Visa-enabled prepaid card that users can swipe to spend their digital assets in tens of thousands of PoS globally.

As the adoption of cryptocurrencies continues to rise, BitPay leads the crypto payment pack with its world-class services.


Image Source: WePay

It’s funny how many big businesses have their origins in one man’s quest to find something better than what’s currently out there. WePay is also one such business. Rich Aberman was tasked in 2008 to collect money from more than a dozen friends spread across the US for a bachelor party. He was eventually able to collect the money, but with much hassle, depending on different payments such as cash, cheques and PayPal transfers.

Believing there was a better way, Aberman teamed up with Bill Clerico and founded WePay. The P2P payment processor struggled initially, with larger competitors too strong for it to make any solid footing. A focus shift changed it all, with WePay now offering top-of-the-line services to merchants and businesses with the ability to connect with WePay’s network using APIs and accept card payments.

American banking giant J.P. Morgan eventually acquired the payment processor in 2017, leveraging the platform against the bank’s reach to expand its services internationally.


Image Source: PaySimple


PaySimple stands out from the crowd with its namesake’s simple merchant services. The platform lets small-to-medium merchants accept payments, create invoices and even track customer behaviour. The platform takes care of all back-end activities, letting firms with little-to-no knowledge of payment systems integrate PaySimple services into their existing setup without the need of specialists and expertise.

The payment processor offers a mobile payment app coupled with its pocketable card-reader to be used on the go. PaySimple also offers recurring billing, with returning clients charged automatically for rendered services. The pinnacle of PaySimple, however, is its Customer Management system. Users can let the platform handle the complete billing cycle, from creating invoices, storing customer information, automatically billing and tracking payments.

Each invoice and report has a professional look with PaySimple’s merchant branding capabilities.


Image Source: 2Checkout

Like many other payment processors, 2Checkout also offers the same services, such as card acceptance, recurring billing and fraud protection. 2Checkout’s uniqueness is its modular offering. Unlike others, where merchants are bound by predefined packages, 2Checkout hosts its services in three distinct areas:

  • 2Sell: Businesses and firms looking for expanding their online presence internationally can use 2Sell to accept mobile and online payments globally.
  • 2Subscribe: Users who have recurring clients can use 2Subscribe to create a repetitive management system where the buyers are billed automatically, based on either frequency or whenever they place new orders.
  • 2Monetise: A comprehensive option for selling digital goods around the world.

2Checkout lets merchants and sellers select their preferred option and reduce costs by only paying for the required service. 2Checkout also offers bolt-on services, such as tools for boosting online conversions, taxes and other regulatory compliance, distribution channels automation and enterprise solutions for professional services.


Image Source: BlueSnap

Launched as Plimus in 2001, the payment processor rebranded to BlueSnap in 2012. Combining the best of all services, BlueSnap offers a complete package for merchants and sellers. Though their charges are a bit high in comparison to others, they aren’t designed for low-volume sales and charge a hefty $75 USD per month for businesses with less than $2,500 USD per month in sales. BlueSnap doesn’t have any mobile payments or PoS services either as it focuses on eCommerce only.

BlueSnap’s services include:

  • Global banking support
  • Simplified and transparent reconciliation process
  • Tax and regulatory compliance
  • Fraud and chargeback management
  • Flexible payment routing for the lowest cost
  • More than 100 currency support
  • Linked with other payment processors such as Apple Pay, SEPA, PayPal, AliPay and many more

BlueSnap also offers ERP and CRM compatibility, meaning merchants don’t need to create complex integrated systems and can have their accounts set up and running in minutes.

Finding the Right Payment Processor with Revain

Image Source: Revain

Not every payment processor fits the bill for merchants. Each user has intricacies and limitations that vary even if two are from the same industry, location or size. Choosing the right payment platform can make all the difference in making or breaking the business. Processors will never highlight limitations and as a rule of marketing, will always portray themselves as the best.

Choosing the payment systems that’s right for you can be daunting, especially when clients’ money is involved. With its unique review system, Revain solves this dilemma by letting merchants and users share their experiences of using different payment processors. Feedback is monitored by leveraging artificial intelligence, letting only high-quality reviews through its doors. The AI uses advanced algorithms to detect deviations from Revain’s requirements and flag reviews that are not up to par. An additional step of encoding the review on the blockchain prevents manipulation after publication. Revain also allows registered payment processors to interact with authors to gain insights on improving services, along with resolving any issues.

Sellers and merchants can use these reviews to determine which payment processor suits their needs and then make an informed decision.

Feedback on payment processors are written by their users and don’t reflect any opinion or suggestion by Revain.


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