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Best payment providers : Exclusive comparison between payment service providers plus table

Have you been struggling over choosing the best payment service provider recently? If yes, perhaps you were busy developing a business or your previous provider was no longer matching your expectations. A good payment service is the key ingredient for seamless customer experience. It will bring you closer to your customers and give you the opportunity to offer payment methods based on their needs.

Best payment providers : Exclusive comparison between payment service providers plus table
PayPax Crypto Payment Gateway

Some people prefer using traditional ways for their payment process, others on the contrary are in search of a third-party who provides them with cost-effective and suitable options. A good payment service is one that brings you peace of mind, takes care of the entire electronic payment transfer process, provides a clear overview, and offers advanced technology, security, and support.

However, many people may feel overwhelmed and confused when choosing their payment service provider with the variety of options existing in the market. The services offered by payment providers are rather competitive since the customer we see in today’s world is highly intelligent, can easily distinguish between the tiniest differences and is hard to satisfy. If you have also been wondering which payment service provider can best suit you and your financial needs and purposes this article is going to be of great help. 

In the article below we’ll have a brief review on payment service providers and how to choose the best one.

What is a payment service provider?

The third party between a customer and a merchant which was mentioned above is called a payment service provider. Each third party offers a variety of methods to its customers in order for them to be able to easily accept electronic payments. The key features of an accepted payment service are effectiveness, security and convenience. Merchant service providers, wire transfer via online banking and  credit cards are different types of payment service providers.

Not choosing a payment provider will impose the extra expenses of hiring a team of experts to do the job for you, providing you don't have enough relevant knowledge in the niche yourself. Nonetheless, with the help of a payment service provider, you no longer need to be an expert in the niche or hire a team of developers to do the job on your behalf. This will cut the edges on your expenses and help you save a little extra money for the rainy day, plus attract a number of potential and new customers ever more. 

What does a payment service provider offer?

Payment service providers usually offer a variety of currencies for customers to be able to have cross-board payments and do business on a global scale. Furthermore, they are in charge of security of the financial data and safety of their customers’ payment process. To add to that, some PSPs also offer transaction reports on a real-time or monthly basis. 

Using a payment service provider you can bring several payment methods and integrate them to give your customers a seamless experience of shopping. These payment methods include a variety of currencies and digital money, which is almost all you need for establishing your own online web store

Having a PSP will not only bring you a variety of options and covenice, but also will lower the risk of fraud and cybersecurity attacks since your provider will detect any suspicious activity and inform the customer immediately. In addition, your payment provider will give you regular daily, monthly and annually reports that will help you keep track of your funds and merchant history and be able to compare your transaction reports to ensure everything is accurate.

It is also worth mentioning that many payment service providers will not ask you to take the time-consuming process of opening up a bank account and thus giving you more time and space to focus on the growth and development of your business. 

Important factors to consider when choosing a payment provider

Choosing a payment service provider can be quite a big deal for those who run a business. Below we’ll discuss the most promising strategies for choosing a payment service provider. 

Payment security

Security is the leading feature for every payment service provider. When choosing your PSP make sure that it’s  certified for information security standards. PCI standard is an information security standard for organizations that handle branded credit cards from the major card schemes. By checking your payment service provider’s PCI you can rest assured that the financial data of your customers and your own is protected.

Merchant account

You might wonder what a merchant account is. Each payment service provides you with an online gateway through which you can receive funds. Payment gateways create an extra layer of security and lower the fees of your transfer. As a result, those PSPs with no online gateways can charge a higher processing fee.

Fees and terms of agreement 

Almost all payment services include a certain fee depending on the type of business transactions. They may charge you with setup fees and contracts or transaction fees. However, it is always of great importance to choose a platform with the most reasonable fees. The website’s term of agreement and regulations is also something to consider intensely when choosing your PSP.

Live customer support

Customers often encounter blocking problems when using their PSPs which may disrupt the entire process  in case of no guidance. Some organizations provide manual instructions or email contact, while it may be too time-consuming or frustrating on the customer's end. Live technical support in standard working hours or online chatting is what best payment providers offer to resolve any technical issues customers may experience. 

Best payment service providers in 2022

There are dozens of PSPs available in the market, offering several features to the customers including:


PayPax is a cross border online payment gateway, helping customers send, receive and accept payments in more than 50 cryptocurrencies and digital money. Signing up for a PayPax account is easy and free of cost and  also by verifying your account you can have higher security and lower fees.

PayPax support center offers 24/7 customer support for you to be able to easily solve your possible technical issues. Using PayPax gives you the opportunity to integrate different payment methods and provide the most cost-effective payment solutions for your customers to have a seamless experience.

paypax logo

Perfect Money 

Perfect Money is also another financial service allowing users to make instant payments and make money transfers securely throughout the Internet opening.

Perfect Money users can now pay for goods and services with major cryptocurrencies using their shopping cart. You can also exchange your currencies to Perfect Money using your PayPax account exchange service

perfect money logo


PayPal Commerce Platform gives you a payment gateway and payment processor all in one, making it simple to start selling. There are no set-up or monthly fees for PayPal Commerce Platform. PayPal is the faster, safer way to pay online without sharing financial details, send and receive money or accept credit and debit cards as a seller.

paypal logo


Skrill is a payment provider from the UK which was created in 2001, with headquarters in London. The system’s main priority is money transfer, but customers can also make online payments. The main priorities this payment provider has over the others are its convenience, confidence, and instancy.

It is comfortable as it lets users easily send and receive money. In addition, users can link their bank accounts to the system which gives them the opportunity to pay anytime and anywhere.

skrill logo


WebMoney is an international online payment provider. The system offers wide opportunities to its clients. Not only it serves as a payment provider, but also creates means of online payments and provides a separate range of features for businesses. The most popular feature of WebMoney is the possibility of e-wallets.

Every country that supports the wallet has a bank or financial institution guarantor. With WebMoney Transfer, users can enjoy sending & receiving payments worldwide and store money online. 

webmoney logo


Payeer is a payment provider and an online internet wallet designed to handle cryptocurrencies and fiat currencies. This tool has a built-in exchange office that allows you to make payments between many different systems like MasterCard, VISA or Paypal. All transactions made with this wallet are irreversible.

This payment provider offers relatively low commission, which makes it a good alternative to other expensive internet wallets. Payeer is useful both for amateurs and experts in earning money online. The advantages of this e-wallet include high transaction security as well as 24/7 technical support.

payeer logo


Stripe is a payment processor that allows business owners to accept payments from credit and debit cards and processes those payments. businesses can accept payments from mobile wallets using Stripe buy now, pay later services. Stripe supports a variety of currencies for payments. the system also offers an app called ‘Stripe payments’ which processes the payments made by the system. in person payments are also availbe onthe system using a Stripe Terminal.

Stripe is used by large brands such as Lyft, Amazon, Shopify, and Pinterest. Stripe also prioritizes your safety by blocking any fraudulent or suspicious activity. The service is available in 34 different countries and the best option for attracting international merchants. 



If you consider the above factors exhaustively choosing the best payments service provider wouldn’t be that much time-consuming or tough. Choosing the best PSP can be a huge risk. If chosen wrong, you’ll face serious problems down the road, including limited forms of payment, poor customer service, high pricing and recurring fees, and many other problems.  

So, making an informed decision about the best payment service provider for your business, can help you save more money, reduce possible risks, plan for the future and ensure a secure payments process and customer experience.

Comparison table

  PayPax Perfect Money PayPal Skrill Webmoney Payeer Stripe
Safety high high high high high high high
Instancy very high  very high high high  normal high high
Fees 0.5% for verified accounts  1.9% for unverified accounts 1.9% to 3.5% of each transaction, plus a fixed fee ranging from 5 cents to 49 cents 3.99% to our wholesale exchange rates 0.8% of the payment amount for every transaction 0-3% is charged for a deposit and 3-5% for a withdrawal

2.9% plus 30 cents for card payments and 2.7% plus 5 cents for in-person payments 

E-wallet available  available available available available  available available
Payment methods cryptocurrency and e-money

cryptocurrency and e-money

cryptocurrency and e-money

cryptocurrency and e-money

Bitcoin and e-money

cryptocurrency and e-money

Fiat currency and cryptocurrency

Prepaid cards available available available available available  available unavailable
Customer service 24/7 live chat, call and email call and email but not always available call and email phone numver and email call and email but not always available phone number and email  email, phone and chat 


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