9+ Significant Magento 2 Payment Methods for Online Customers | Free & Premium | 2024 Updated

magento 2 payment method

In this blog, we are reviewing our top 9+ Magento 2 payment methods for accepting payments on the web. The payment method system has grown dramatically over the last decades due to the growing spread of internet-based banking and shopping. The world nowadays advanced more with technology development so more payment methods and payment processing devices appear more and more. Hence, the more you know about these trending payment tools, the more marketing strengths you can gain for your business career.

A quick primer on Payment Methods:

Before getting started, here are just a few things to know about the payment system:

What is the Modern Payment Method?

A modern payment method directly integrates with your point of sale and delivers a robust payment experience for both sellers and customers. It helps connect merchants to a total payment ecosystem, from merchant services to remote terminal solutions, to hardware procurement.

The benefits of Payment Methods

For Customers

  • Time savings: makes funds transaction in a few minutes with a waste of no time.
  • Expenses control: has your electronic wallet where all the expenses and transaction history are recorded on your account. Control and manage your expenses instead of not controlling using cash.
  • Reduce the risk of money lost: eliminates the security risks that come with handling cash money.
  • Low transaction cost: only costs 1% of the total amount fee in this kind of operation which is considerable. Meanwhile, you probably know that paying through unattended payment terminal for internet or mobile bills cost customers high fees
magento 2 payment methods
  • High speed and increase convenience: can be performed at any time, anywhere with high speed and in a few minutes without a waste of time since all you need to have is access to the Internet.
  • Low spend on paper and postage: spends less money and trees on paper and postage.

For E-commerce business

  • Increased Sales: accesses an online website and purchase any kind of product or service from everywhere and every time with no geographic or time limits. Encourages consumers to buy from your business more often.
  • Last-minute deals: grabs a cost-saving deal even at the last minute when business owners throw for saving money.
  • Ease of adding payment method: adds payments to your website and starts providing customers online payments then enjoys the advantages and increased sales.
magento 2 payment method
  • Credit Card Payment: uses credit cards to make payments, even though they don’t have money in their bank account.
  • Instant Payment: makes the payment in a few minutes and on the other hand you will receive it as fast.
  • Save money: significantly improves businesses and optimizes workflow while it can save your business a lot of money by reducing expenses spent on time, work, and papers. Prevents fraud and improves data accuracy so that you would be able to make efficient financial decisions.

Collection Of Magento 2 Payment Methods

Magento 2 Payment method
Product name Payment Method Price Highlight features More details
Magento 2 Cash On Delivery
  • Check COD Availability By Zipcode Quickly On Product Page
  • Instantly Check COD Availability & Fee On Checkout Page
  • Specify Products Unavailable for COD
  • Track COD Payment From ‘My Orders’
  • Enable Cash On Delivery For Products In Seconds
  • Set COD extra fee label on Checkout Page
  • Easily Add/edit COD Pricerules In Backend
  • Flexibly restrict COD by zip
  • Set COD Rates Flexibly In Different Types
  • Upload/Export Pricerules CSV File Conveniently
  • Notify COD Availability By Proper Message
  • Show COD Title & Description On Frontend
  • Allow COD For Specific or All Countries
  • Check Orders Applied with COD payment
  • Manage COD Rates In Smart Way
  • Manage Any COD Order In Backend
  • Control COD Products Flexibly
  • User-friendly Configuration
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Magento 2 Stripe Payment Gateway
  • Multiple Credit Card Payment
  • Supportive Alipay payment method
  • Easy To Save Card For Future Payment
  • Flexible Saved Card Actions
  • Quickly Add or Delete Cards On Checkout Page
  • Direct Refund – Enhance Flexibility
  • Secured Card Management
  • Transaction Management System
  • Functional Checkout Page
  • Full & Easy Configuration
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Magento 2 ZaloPay Payment extension
  • Provide your customers with a safe and seamless payment experience
  • Offer real-time payments via automatic invoicing
  • Save time and effort by processing global payments with a single integration
  • Use an exchange rate for transactions that need currency conversions
  • Provide your payments flow with comprehensive security
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Magento 2 Admin Payment Method extension 
  • One Click Enable ”Admin Payment Method”
  • Create Multiple Orders with Admin Payment
  • Show Admin Payment Method as Pre-selected Option
  • Fast Define New Status for Orders
  • Auto Create & Capture Invoices after Admin Order Creation
  • Apply Admin Payment for Specific or All Countries
  • Automatically Create Shipment Once Orders Placed
  • Track All Orders Using Admin Payment Method
  • Check Admin Payment Order Details & History
  • Simply Install Magento 2 Admin Payment Method
  • User-friendly Configure Payment Method for Admin
  • Fully Compatible with Magento 2 Latest Versions
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Magento 2 admin payment method PRO
  • Support to choose a new order status from the back-end
  • Orders creation without complicated procedure
  • Automatic invoice creation support
  • Invoice auto-sending support
  • 9 admin payments support
  • Choose Suitable Admin Payment Fee
  • Print invoice payment fee with ease
  • View Admin payment fee in the front-end
  • Automatic shipment creation support
  • Admin Payment section notification
  • Pre-select admin order support
  • Grid table order tracking support
  • Method name adjustment support
  • Easy to use and Similar usage
  • User-friendly design
  • Payment records support
  • Visible at the backend only
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Magento 2 Nab Transact Payment Gateways
  • Support NAB Transact XML API.
  • Support NAB Transact Direct Post.
  • Support NAB Hosted Payment Method.
  • Support 3D Secure
  • Support Refund Online.
  • Support Risk Management.
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WePay for Magento 2
  • Accept worldwide debit/credit cards: VISA, Mastercard, Amex, Discover, JCB, Diners Club
  • High-security and fraud protection
  • Three payment integration methods: Direct, Iframe and Hosted payment
  • Payment transactions at frontend and backend
  • Save card info for next time purchase
  • Define the service fee payer
  • Allow full refund online
  • Allow creating backend order
  • Two flexible payment actions: Authorize, Authorize and Capture
  • Restrict WePay for specific countries
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Magento 2 Bendigo Bank Payment Gateway
  • Capture Unlimited New Sales
  • 2 Available Card Collection Methods
  • Support Merchant Server API (2-party payments)
  • Support Hosted Server (3-party payments)
  • Support MiGS
  • Support Secure Hash Type SHA256
  • Quickly Refund Online Payment Transaction
  • No Empty Cart On Cancel
  • Create Invoice & Send Order Instantly
  • Easy To Set Up
  • Change Logo & Payment Description
  • All Credit Cards Supported
  • Compatible with Magento Community & Enterprise
  • Configure With Ease
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Magento 2 Mastercard payment gateway MIGS
  • Merchant Service API for 2-party payments
  • Hosted server/checkout for 3-party payment
  • Support all banks (using VPC/MiGS)
  • Supports all credit cards
  • AEnforce 3D-Secure
  • Support refund transaction payment online
  • Change the logo/payment description in backend
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Magento 2 Mastercard payment gateway MPGS
  • Support paying with MPGS & 3DS
  • Accept credit/debit cards to checkout
  • Support hosted checkout to pay
  • Check payment method details in backend
  • Enable credit or debit card in settings
  • Enable hosted checkout in settings
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Magento 2 Commonwealth Bank CommWeb
  • Different card collection methods
  • Merchant server API supported
  • Enable hosted server
  • Support MiGS
  • Support 3D Secure
  • Support secure hash type SHA256
  • Generate Invoice & Send Order
View now
Magento 2 Westpac Payway Payment
  • Support Payway API for 2-party payment
  • Support Payway Net (hosted payment) for 3-party payment
  • Easily configure Payment information (Logo & description)
  • Support payment authorize mode
  • Allows configure Prefix Order
  • Support refund online payment transaction
  • Enforce 3D-Secure
  • Configure Merchant Id, Security Username & Password by Magento admin
  • Allows upload certificate file in Magento backend
  • Westpac API/hosted order clearly
  • Support enable mode Test/Live in Magento admin
  • Easy to install and setup
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Magento 2 onepay payment gateway
  • Integrate OnePay payment gateway
  • Support OnePay domestic ATM card
  • Domestic ATM card payment gateway page
  • Configure OnePay domestic ATM card
  • Support OnePay international card
  • International card payment gateway page
  • Configure OnePay international card
  • Set min/max order total
  • Apply OnePay to specific countries
  • OnePay order success page
View now
PayTrace Payment Gateway Magento 2 Extension | Elsner
  • This extension is compatible with Magento 2.2.x and 2.3.x.
  • You can use all the major credit credits which are accessible in the US, including Visa, Mastercard, American Express, Discover, and JCB.
  • Utilizes PayTrace JSON API and PayTrace Post API.
View now

This list is categorized based on marketing criteria such as reviews, prices, highlight features, and so on. Furthermore, these modules are all from Landofcoder so each product is compatible with Magento 2.0.x – 2.4.x CE, EE, Cloud. For our refund policy, if the product fails to meet your expectations, you can get a 30-day money-back guarantee for any paid product from the time of purchase.

An optimal Magento 2 payment method is one that serves you best

Magento 2 payment method landofcoder

Choosing the most suitable eCommerce payment method is crucial to the success of your retail business. However, each method is different and has its own advanced features so you can easily choose which one is satisfying your business purpose. For example, Magento 2 Cash On Delivery Payment Method (COD) allows customers to check cash on delivery availability and make payment when getting their ordered products.

While the Magento 2 Stripe Payment Gateway runs while letting customers pay by different cards that Stripe supports. Furthermore, the PayTrace Payment Gateway Magento 2 Extension from Elsner is like to provide an ingenious payment gateway system that is automatically done from the checkout page without wasting any time. In this way, customers can pay their purchases easily and conveniently.

Or like Magento 2 ZaloPay Payment extension, Magento 2 Bendigo Bank Payment Gateway, and WePay for Magento 2 use specifically one method ‘Zalo, Bendigo Bank, Visa,…’ for instant payment and simplify customers’ buying process. These payment methods come with stunning utilities and perform well on any devices.

According to a study of Baymard Institute, the average eCommerce cart abandonment rate at 69%; however this conversion rate can be improved up to 35% with some payment optimization to the check out process. For that reason, companies that invest in e-commerce are focusing more on different payment methods as a means to boost the conversion rate up and attract more customers.

That’s ALL!

We introduce the collection of 9+ Best Magento 2 Payment Methods to suggest you the most suitable module for your online store. You can engage a majority of customers and increase sales as well. With the list, we hope that you can make a wise decision on the best Magento 2 payment method extension for your e-Commerce website.

If you want to add or remove an item in this list, feel free to submit your extension at Submit form.


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