Top 12 Payment Systems with API Integration Possibility

In the era of rapid development of online trade, ensuring convenient and secure payment acceptance is becoming one of the top priorities for businesses. A convenient payment system is not only a way to provide customers with comfortable conditions for making purchases, but also a means of increasing the company's income. Without a competent approach to choosing a payment solution, a business may face a loss of customers, a decrease in conversion and, accordingly, a decrease in revenue.

The importance of convenient payment acceptance for businesses and customers

When a user goes to a website to make a purchase, they expect the payment process to be intuitive, fast and reliable. The convenience of accepting payments for the client directly affects their impression of the company. An overly complex or long payment process can cause the user to refuse a purchase, and the user will go to competitors where the process is organized more simply. For businesses, convenient payment acceptance is a guarantee of a smooth transaction, minimization of the number of payment refusals and an increase in repeat sales. Modern payment systems allow you to automate the entire process - from the moment of entering card data to the completion of the transaction, which significantly speeds up interaction and reduces the percentage of payment refusals. This is especially important in a highly competitive environment, when every sale becomes significant for a business, and customer satisfaction can become a key advantage.

Main goals and objectives

Increasing conversion

The main goal of any payment system for online business is to increase the conversion rate, that is, to turn website visitors into buyers. An easy and clear payment process reduces the number of abandoned carts and increases the likelihood of completing a purchase.

User convenience

User convenience is an important component, since a user satisfied with the service is more likely to return for a repeat purchase and recommend the store to friends and acquaintances. Today, systems that support payment methods that are familiar to customers, such as cards, online wallets, Apple Pay or Google Pay, are especially valued.

Automation of financial processes

Automation of financial processes allows a company to optimize work with money, manage payments and analyze business performance. The system automatically processes incoming funds, distributes them among accounts, creates reports and can include analytical tools for a deeper understanding of sales trends. This allows businesses to focus on developing and improving their products without being distracted by routine tasks.

Types of payment services and their features

There are several types of payment systems, each with its own features and designed for different types of businesses. Choosing the right service depends on specific tasks and requirements, such as the need to work with international payments, support for cryptocurrency, or integration with accounting.

Payment systems

Payment systems are services for processing transactions that ensure the exchange of funds between a client and a company. They can support a variety of payment methods, including bank cards, e-wallets, and mobile payments. Large platforms such as Stripe or PayPal offer a variety of options, including recurring payments, analytical tools, and customization for different types of businesses.

Bank acquiring

Acquiring is provided by large financial institutions such as banks and is a traditional payment acceptance model that focuses on processing bank card transactions. Bank acquiring services usually have lower fees and are more reliable, but the choice of payment methods is limited, which may not be suitable for businesses with a wide audience.

Crypto Processing

Cryptocurrency payment systems offer transaction processing using cryptocurrencies such as Bitcoin or Ethereum. For businesses working with an international audience or focused on confidential transactions, crypto processing may be an interesting solution. However, cryptocurrency transactions are still restricted in most countries and require additional security measures.

Payment Aggregators

Aggregators are universal platforms that combine several payment methods in one service, allowing businesses to offer a wide range of options to customers. Such systems are convenient for companies looking to reduce the costs of connecting different payment solutions and offer a more comprehensive solution to customers.

Key Criteria for Choosing a Payment System

Fees and Tariffs

The fee charged for each transaction is one of the most important aspects when choosing a payment system. For small and medium-sized companies, high fees can be a significant expense, so it is important to study the rates of different systems. The fee may be a flat rate per transaction or a subscription. A flat rate is suitable for small businesses with low turnover, while a subscription is often more profitable for larger companies. For example, international systems such as PayPal and Stripe set a standard fee for international transactions, but may offer individual terms for significant turnover.

Hidden and additional fees

When comparing payment systems, it is important to consider not only the basic fee, but also hidden fees that can significantly affect the final costs. For example, additional percentages are often charged for international transactions or currency conversions. Such costs can add up unnoticed, so a business should study each system’s policy on additional fees and terms in advance.

Available payment methods

The variety of payment methods is another important factor that influences the choice of a payment system. Customers may prefer different payment methods depending on their country of residence, personal preferences, and other factors. It is important for businesses to provide a wide range of options to improve customer convenience and reduce payment abandonment. In 2024, online wallets and mobile payment systems such as Apple Pay and Google Pay are becoming increasingly popular. It is also worth considering the possibility of accepting cryptocurrencies if the company is focused on the international market or a specific audience.

Integration speed and complexity

The process of integrating a payment system should be fast and intuitive so as not to slow down the launch of a business. Modern systems offer different approaches to integration: via API for companies with a developed IT department, as well as through ready-made modules for popular CMS, such as WordPress or Shopify, for smaller companies. The time to set up a system varies depending on its capabilities and the number of verification steps. Some systems require minimal verification and can be connected in a few hours, while others require a multi-step process that takes up to several weeks.

Customer security and trust

Security is a critical factor since a business works with financial and personal data of customers. Payment systems use encryption and fraud protection technologies to ensure information security. Many services also implement anti-fraud systems that automatically track suspicious activity and protect user data from unauthorized access. Support for AML (Anti-Money Laundering) and KYC (Know Your Customer) checks also plays an important role, which helps prevent money laundering and increase trust in the service.

Functionality for business

Modern payment systems offer a variety of functions that help businesses effectively manage payments and provide additional opportunities for working with clients. This can be analytics and reports, interface customization, integration of subscriptions and recurring payments. For example, some systems allow you to split a payment, add bonus programs or send an invoice to the client. Support for mass payments can be useful for companies working with many contractors or partners, as it allows you to manage settlements in a few clicks.

TOP-12 Payment Systems with API Integration

In this section, we will consider the key features of 12 popular payment systems. Each of them has unique advantages and functions that can be useful for different types of business.

CloudPayments

Supported payment methods and examples of use

CloudPayments is a Russian payment system aimed at businesses operating both in the domestic and international markets. Supported payment methods include cards of Russian and foreign banks, as well as integration with local payment services such as Tinkoff Pay, Fast Payment System (FPS), SberPay, and Russian digital wallets (Yandex.Money, Mir Pay). CloudPayments provides flexible tools for business, including online cash registers, installments and subscriptions, which allows you to adapt the service to the specifics of the company and its audience.

CloudPayments is actively used in such business niches as online stores, educational platforms, food delivery services and entertainment services. For example, for online stores selling physical goods, the system allows generating electronic receipts and sending them to customers, which simplifies accounting and creates trust among users. Educational platforms can use the ability to create subscriptions to ensure regular payments for access to courses. In the delivery sector, CloudPayments supports payments via applications, which provides customers with convenience and speed of transactions.

Connection conditions, fees and tools for business

CloudPayments connection is carried out entirely online and can take from one day depending on the complexity of business data verification. Registration requires a minimum package of documents, including TIN and bank details.

The platform offers an individual settlement system, including a percentage of the transaction and an annual fee.

CloudPayments offers a variety of tools for business: from analytics and transaction monitoring to customer segmentation functions and online cash registers. The online cash register fully complies with legal requirements and supports the issuance of electronic checks, which makes it attractive for Russian companies obliged to comply with 54-FZ. The system also offers installment and credit options for customers, which can increase the average check and stimulate purchasing activity.

CryptoCloud

Features of crypto processing and target audience

CryptoCloud is a specialized service for processing cryptocurrency payments. It is suitable for companies operating in international markets, as well as for businesses focused on anonymity and fast cross-border transactions. The system is popular among entrepreneurs who want to offer their clients a variety of payment methods, including cryptocurrencies, which can be useful, for example, for digital services, online gaming platforms and businesses in the field of blockchain projects.

One of the key features of CryptoCloud is the automatic conversion of cryptocurrency payments into stablecoins (USDT), which allows businesses to avoid the risks associated with the volatility of cryptocurrencies. This feature makes the platform attractive for companies that want to offer customers the convenience of crypto payments, but at the same time minimize the impact of exchange rate fluctuations on the company's finances.

Supported cryptocurrencies, fees and integration via API and CMS modules

CryptoCloud supports major cryptocurrencies, including Bitcoin, Ethereum and Tether (USDT). The system charges a fee of 0.4% for transactions, which makes it one of the most affordable systems on the crypto payment market. The process of registering and connecting CryptoCloud takes minimal time and requires only email confirmation, and integration can be done via API or using ready-made modules for popular CMS platforms.

CryptoCloud also provides a number of useful tools, such as analytics and transaction monitoring, automatic notification of the client about the payment status and the ability to choose the level of privacy. Such functions may be in demand by companies that focus on providing high-quality service to customers who prefer cryptocurrency payments.

PayAnyWay

Support for legal entities and the self-employed, options for local and international payments

PayAnyWay is a universal payment system aimed at legal entities and the self-employed, which makes it accessible to small businesses. The system supports payments from bank cards, as well as through the SBP and popular e-wallets such as Yandex.Money and Qiwi. This payment platform can be useful for small businesses, self-employed individuals and startups focused on the local market, but it also supports international transactions. PayAnyWay also offers the ability to create payment links that can be sent to the client via email or messengers. This feature is convenient for self-employed individuals and freelancers who work on order and do not have their own online store. In addition, the service can be integrated with mobile applications, which allows entrepreneurs to flexibly use the system in any conditions.

Integration methods and rates

PayAnyWay rates vary depending on the payment method: the commission for bank card transactions is 2.7-3.4%, and for the SBP - 0.7%. Connection can take only one day, since the system does not require the provision of original documents, which is especially convenient for freelancers and self-employed individuals. PayAnyWay integration can be done via API or through ready-made solutions for popular platforms and CMS, such as WordPress and OpenCart. API connection allows you to use the system in applications and on websites, as well as flexibly configure payment parameters. Integration allows users to optimize their work with payments, and businesses to increase the level of convenience for their customers.

PayMaster

Support for small and large businesses, international payments and holding PayMaster is a payment system suitable for businesses of all sizes, from small to large. The platform supports international payments and can process transactions with foreign currencies, which makes it convenient for companies focused on foreign markets. PayMaster is especially interesting for companies that need to ensure the processing of large payments with the ability to hold (freeze) funds until the transaction is completed. This can be useful for companies in the service sector, online trading and other businesses that require transaction protection until the order is completed.

The holding function allows you to reserve funds on the client's card for an agreed period, providing additional protection to the seller. For example, in the case of services that require verification of their performance before payment, holding allows you to reduce the risks associated with payment refusal.

API integration and ready-made solutions for CMS

PayMaster offers flexible integration options for businesses. The system supports API and can be integrated via CMS such as WordPress, 1C-Bitrix and other popular platforms, which simplifies the process for companies that do not have their own developers. The PayMaster API provides businesses with the ability to customize the payment process and adapt it to specific needs. PayMaster commission starts from 1% for bank cards, and for SBP - from 0.7%, with the possibility of obtaining individual conditions depending on the turnover. Connecting PayMaster can take up to three days, since the company provides detailed instructions and support for large clients.

Stripe

Main advantages and features of Stripe for eCommerce

Stripe is one of the most powerful and flexible platforms for accepting online payments, which is ideal for online stores and companies working with a global audience. The service supports more than 100 payment methods, including credit and debit cards, Apple Pay, Google Pay, and local payment methods. This allows businesses to effectively scale their operations, attracting customers from different countries and regions.

Stripe’s key advantage is its built-in anti-fraud system Radar. This system uses machine learning algorithms to detect suspicious transactions, which reduces the risk of fraud and increases customer safety. In addition to protection against fraudulent transactions, Stripe offers powerful analytical tools that allow companies to receive detailed transaction reports, analyze financial flows, and make strategic decisions based on data.

Support for 100+ payment methods, anti-fraud, and analytics

Stripe provides over 100 payment methods, including Visa, Mastercard, American Express, and local options, making it flexible for companies focused on international markets. The Radar anti-fraud system built into the platform provides an additional layer of security for transactions. The system uses data from millions of transactions to identify potentially fraudulent activities, ensuring high protection of user data. Stripe also offers powerful analytical tools that allow businesses to track financial performance, identify seasonal fluctuations, and evaluate sales performance. With API integration and ready-made CMS modules, Stripe becomes a universal solution for various businesses.

PayPal

Benefits for an international audience and PayPal Credit features

PayPal is one of the most popular payment solutions in the world and provides companies with the opportunity to attract international customers. The service supports more than 200 countries and about 25 currencies, which makes it convenient for businesses focused on the global market. PayPal also provides PayPal Credit for US buyers, which allows customers to purchase goods on credit, increasing the likelihood of completing a purchase.

PayPal allows companies to easily accept one-time and recurring payments, and also provides easy integration into the site. A convenient payment button allows customers to quickly complete a transaction using an existing PayPal account, without having to enter additional data.

Fees, connection features and integration

PayPal fees depend on a number of factors, including the customer's country, currency type, and the need for conversion. In most cases, the fee is 2.9% + a flat rate per transaction. Additional fees may apply for international payments or currency conversions. To connect PayPal, you must complete the registration and verification process. PayPal integration is possible via API or using ready-made solutions for popular e-commerce platforms such as Shopify and WooCommerce, making it accessible to smaller businesses.

Mono

Acquiring, support for local cards, Apple Pay, Google Pay

Mono is an acquiring service from monobank, designed for the Ukrainian market and supporting cards of local banks, as well as popular payment methods Apple Pay and Google Pay. The platform is especially popular among small and medium businesses in Ukraine, providing convenient and flexible conditions for accepting online payments from local cards.

The system works with individual entrepreneurs and legal entities, which makes it universal for entrepreneurs of different sizes. mono offers a simple and understandable acquiring service, integration with which can be performed through the bank's application.

Connection conditions, tariffs for cards of Ukraine and other countries

To connect mono acquiring, a company must open an account with monobank as an individual entrepreneur or a legal entity and submit an application through the application. After that, the process of connecting and activating acquiring takes minimal time. The standard commission is 1.3% for transactions with Ukrainian cards and 2% for transactions with cards of foreign banks. mono also offers fiscalization tools, allowing businesses to receive fiscal receipts for each sale. This simplifies reporting and makes mono convenient for entrepreneurs who operate in accordance with legal requirements.

LiqPay

Integration features, commission, support for charitable payments

LiqPay is a payment system developed by PrivatBank and popular among Ukrainian companies. The service offers a wide range of payment methods, such as bank cards, Apple Pay, Google Pay, Visa and MasterCard, as well as the ability to make charitable payments without a commission. This makes LiqPay convenient for public and charitable organizations that often use this solution to collect donations. LiqPay has an intuitive interface and supports integration via API, as well as ready-made modules for CMS platforms, which allows you to quickly and easily connect the system to the site.

Payment methods and integrations, tools for business

LiqPay supports a variety of payment methods, including bank cards, online wallets and mobile payments, which allows businesses to attract a wide audience. The transaction fee is 1.5%, but for organizations engaged in charitable activities, free service is possible. LiqPay provides various tools for businesses, such as recurring payments, invoicing and analytical reports. These features make the system convenient for online stores, educational platforms and charity projects, helping businesses manage finances and optimize the process of working with clients.

WayForPay

Tools: BotPay, QR codes, virtual terminals

WayForPay is a universal payment system focused on businesses operating in e-commerce and services. One of the key tools is BotPay, which allows you to accept payments through messengers such as Viber, Telegram and Facebook Messenger. This functionality helps businesses maintain contact with customers and accept payments without having to redirect to the site, which greatly simplifies the payment process.

Another important tool of WayForPay is QR codes. With their help, a business can generate codes for goods and services that can be printed or sent to the client. QR codes allow the buyer to quickly go to a secure payment page by scanning the code on their device. Virtual terminals allow a company to abandon physical POS terminals, which is especially useful for businesses without a physical point of sale, for example, in the service and delivery sector.

Connection conditions, tariffs, support for mass payments

WayForPay offers a quick connection procedure, usually it takes a few hours after submitting an application and providing the necessary documents. The system commission is 2.2% of the amount for each successful transaction. WayForPay supports mass payments, which is useful for companies working with a large number of contractors or freelancers. Integration is possible via API, as well as with the help of ready-made solutions for CMS and e-commerce platforms, which makes the system convenient for small and medium businesses.

Fondy

Support for 300+ payment methods, software RPO, opportunities for charitable foundations

Fondy is an international payment platform that supports more than 300 payment methods. Among them are Visa, Mastercard, Apple Pay, Google Pay, as well as local payment methods in various countries, which allows the company to work with a wide audience around the world. A special feature of Fondy is the software RPO, which allows issuing fiscal receipts without a physical cash register, which simplifies reporting and complies with legal requirements. Fondy also actively cooperates with charitable foundations, offering them the opportunity to receive donations without commission. This makes the platform attractive to non-profit organizations that need support for a large number of payment methods and the convenience of fundraising.

Features of the commission, tariffs and integration

The commission for each transaction to Fondy depends on the turnover of the business. If the turnover is up to 500,000 hryvnias per month, the commission will be 2.4%, for higher turnovers - 2.3% or individual conditions. Fondy integrates easily via API and has ready-made modules for popular platforms such as WooCommerce and Shopify. Thanks to software PPO and analytics tools, Fondy is suitable for large online stores and companies working with international customers.

Portmone

Auto payments, pre-authorization, bulk accounts

Portmone is a popular Ukrainian payment system that provides businesses with flexible options for receiving and processing payments. Portmone's features include auto payments, which allow customers to automatically pay bills on a regular basis, pre-authorization (blocking funds on the card until the transaction is completed), and bulk billing, which allows payments to be made to a large number of bills at once.

These features make Portmone useful for businesses that operate on a subscription model or bill customers on a regular basis. Pre-authorization can be useful for renting goods or in situations where the seller needs to verify the availability of funds on the customer's card before completing the order.

Payment methods and integration with API and CMS

Portmone supports payment methods such as bank cards, Google Pay, Apple Pay, card tokens and the Portmone wallet. System integration can be done using API, as well as through CMS modules, which allows you to quickly and easily connect Portmone to the site. For companies operating in Ukraine, Portmone is a universal solution, as it provides comprehensive tools for conducting business and managing payments.

UAPAY

Support for subscriptions, QR payments, escrow

UAPAY is a payment system that provides enhanced opportunities for Ukrainian businesses. The system supports subscription payments, making it attractive to companies with recurring payment models such as online education or subscriptions. QR payments allow businesses to create a QR code for payment that can be used for instant transactions. Escrow is a secure payment method in which the amount is blocked until the transaction is completed, which is useful for transactions that require a guarantee. This functionality makes UAPAY convenient for companies operating in the B2B sector or in the service sector.

Connection features for legal entities and sole traders, tariffs and integration

In order to connect to UAPAY, legal entities and sole traders must provide a standard package of documents. The fee is usually 2.5% of a successful transaction, but for CMS systems, UAPAY offers rates starting at 2.3%. Integration is available via API and ready-made modules for popular CMS. Ease of setup and flexible terms make UAPAY the right choice for businesses of all sizes.

Comparative Table of Payment Systems

Below is a table that compares key metrics for payment systems, such as fees, supported payment methods, functionality, complexity of integration, and level of security. This information will help you better understand the features of each service and choose the most suitable option for your business.

How to Choose the Right Payment System for Your Business

The choice of a payment system depends on the unique needs of your business, the type of customers, the specifics of your product, and your geographic reach. Let's look at the key factors to make an informed decision.

Considering the specifics of your business and target audience

The first step in choosing a payment system is to analyze your business model and target audience. If your business sells low-cost, mass-market products, it may be better to choose systems with a low, fixed transaction fee. On the other hand, for high-ticket sales (such as real estate or luxury goods), it may be more profitable to use a system with a turnover-based interest rate. It is also important to consider the specifics of your product: if your business experiences frequent returns, it is worth choosing a platform that provides a pre-authorization or funds holding function, such as PayMaster or Portmone. This will allow you to block funds until the transaction is finally confirmed, reducing the risk of non-payment and increasing customer confidence in the payment process.

Service Combination Formats

Using multiple payment systems at the same time can significantly expand the range of opportunities for a business. For example, you can offer PayPal to international customers, while using a low-fee system such as mono or LiqPay for local customers.

Fiat and crypto payment services can be combined to accommodate audiences with different preferences. CryptoCloud’s crypto processing can be integrated with a traditional system such as Fondy to provide users with a choice between fiat and crypto payments. This allows the company to improve the user experience and adapt payment methods to the global and local preferences of customers.

Tips for integrating and customizing the system for customer convenience

Customizing payment interfaces

One of the most important steps is to make the payment interface intuitive and convenient. Optimize the payment page to match the style of the site, and make sure the data entry form is simple and clear. This will minimize the risk of the customer abandoning the purchase at the checkout stage. #### Customization and Trust Many platforms, such as Stripe and Fondy, allow you to customize the checkout process by adding logos and personalized messages. This helps build trust and increase customer loyalty, especially in the case of international purchases, where the customer wants to be sure that their data is safe.

Increased Trust in Security

Make sure that your website and payment page have PCI DSS compliance marks or other security certifications, especially when it comes to international transactions. Anti-fraud systems, such as Radar in Stripe, and additional verification methods, such as 3D-Secure, will help prevent fraudulent transactions and reassure customers that your business is trustworthy.

Questions and Answers about Choosing and Integrating a Payment System

What is an API and how does it help with integration?

API (Application Programming Interface) is a set of tools and methods that allows programs to interact with each other. In the context of payment systems, an API helps integrate the functionality of a payment platform with a website or application, allowing you to send and receive payment data, confirm transactions, and perform other actions.

API simplifies the process of connecting a payment system, allowing developers to easily customize the interface and add custom functionality. For example, an API can be used to automate invoicing, set up recurring payments, or generate reports. This gives businesses the flexibility and ability to integrate a payment process tailored to their needs, and users can make payments quickly and securely.

How do fees differ between payment systems?

Fees between payment systems can vary greatly depending on payment methods, customer geography, transaction volume, and even the type of business. Typically, systems offer several types of fees: a flat rate per transaction, a percentage of the payment amount, or a combination of both. For example, Stripe and PayPal charge a flat fee for each transaction and also charge a percentage of the amount. In addition to standard fees, there may be additional charges, such as currency conversion fees, international payment processing fees, or refunds. It is important to consider these features when choosing a payment system, as for businesses with international clients or a large number of refunds, such fees can significantly increase operating costs.

What additional features help manage payments?

Payment systems provide various additional features to effectively manage payments and optimize business processes. For example:

• Recurring payments: Useful for services that operate on a subscription model (streaming platforms, educational courses).
• Analytics and reporting: Allows businesses to track sales dynamics, evaluate popular payment methods, and conduct financial analysis.
• Anti-fraud and data encryption: Such features protect against fraudulent transactions and help keep customer data safe.
• Invoices and billing: Useful for freelancers, B2B businesses, and companies that work on a prepaid or postpaid basis.
• Support for local and international payment methods: Allows you to expand your reach by providing your customers with familiar payment methods, which helps increase conversion.

These additional features allow businesses to automate operations, ensure data security, and improve customer service by offering a more convenient and secure payment process.

How to ensure payment security and data protection?

Payment security is one of the most important aspects when choosing and integrating a payment system. Payment platforms use multiple layers of protection to prevent unauthorized access to customer data and prevent fraud.

• Encryption: Protects customer data during transmission between systems. Modern payment platforms use SSL (Secure Socket Layer) and TLS (Transport Layer Security) to encrypt data.
• Anti-fraud systems: Tools like Stripe's Radar analyze transactions for suspicious activity, helping to prevent fraud.
• AML and KYC: Anti-money laundering (AML) measures and a user verification system (KYC) help minimize the risks associated with financial crimes. - 3D-Secure: This is an additional authentication method that helps confirm the identity of the cardholder by asking the customer for a one-time code to complete the transaction.

In addition, it is important to ensure that the payment system complies with PCI DSS security standards, which regulate the processing of cardholder data. These measures help minimize risks and provide customers with confidence in the security of their payments.

Conclusion

When choosing a payment system for a business, it is important to consider many factors: from fees and available payment methods to functionality and security level. A payment system is not just a way to accept money; it is a tool that can affect customer satisfaction, sales conversion and business operating costs. By determining the needs of your company, the characteristics of the target audience and the specifics of the product, a business can choose the system that will best meet its requirements. Sometimes the best option is to use several payment systems at the same time to meet the various needs of customers, provide flexibility in payment and optimize the transaction process. Regardless of the scale of the business, the correct integration of the payment system and compliance with security requirements help not only provide a reliable and convenient service for customers, but also lay the foundation for further growth and scaling of the business.