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What Is the Best API for Payment Processing?

couple buying online

An API is an acronym for Application Programming Interface

It allows the application to interact with an external service using a simple set of commands. It is a set of protocols that allow technology products and services to communicate with each other via the internet.

Payment Processing API

Payment Processing APIs are designed for managing payments via eCommerce sites to process credit/debit cards, Direct Debit, track orders, and manage customers’ data. It can integrate multiple payment sources, provide customers with a means of tracking their payments and manage recurring subscriptions.

Beneficial for small and medium-sized enterprises, payment processing API can be used to maintain clients’ lists and manage brick-and-mortar customers to make payments by using an affordable pricing model. Any API payment is associated with three major components: Payment Processor and Payment Gateway. They work together and if anyone is missing; the entire system is in troubleshooting.

The payment processor manages the card transaction process by transmitting information from the customer’s credit/debit card to the merchant’s bank via the customer’s bank.

The payment gateway is an online version of a point-of-sale device that connects the merchant website and the payment processor. It manages the transaction and ensures payments that are to be received by customers to the merchant account.

CloudBanking payment processing offers all the solutions and ties the payment processor with a payment gateway.

person adding their payment details

The Best API for Payment Processing

Though payment processing is virtual companies, it provides payment services to both in-store and online store. It is important for businesses of any type and industry that their payment partner is fully functioning all the features. Thus, it is very important to choose your payment partner that is secure, reliable, and better performing.

With a reference to market research and customer review, we have listed the top 10 payment processing services with a complete package of performance, security, PIC compliance, and distinctive features.

CompanyTransparent PricingPricing ModelMonthly FeesContract Length
CloudBankingYesFlat Rate/ InterchangeNoPay as you go
WePayNoFlat RateNoPay as you go
StripeYesFlat RateYesPay as you go
DueNoFlat RateYesMonth to Month
SquareYesFlat RateNoPay as you go
Autorize.netYesFlat RateYesPay as you go
SecurePayYesFlat RateNoPay as you go
2CheckOutYesFlat Rate/ InterchangeYesMonth to Month
CardConnectNoFlat Rate/ InterchangeYesMonth to Month
PaySimpleYesFlat RateYesPay as you go

CloudBanking is an innovative end-to-end cashflow solution provider that gives a seamless experience, whether you are an online entrepreneur, freelancer, or a consumer who loves shopping online. It has everything that a small and medium size business needs to process credit cards online and in-store with low rates and offers a choice of interchangeable pricing plans. With the features of accounting integration, recurring billing, hosted checkout, and fraud production, you can set up automatic invoicing/ email payment reminders and has a dashboard that tracks accounts receivables.

CloudBanking Has the Following Characteristics, That Makes It Unique and Best API Payment Processing:

  • All-in-one payments system; has very responsive API
  • Best for businesses doing basic credit, debit, and ACH processing; affordable rates with no monthly minimums
  • Major accounting software integration feature (Xero, MYOB)
  • More than just a payment processing platform. It also offers time tracking, project management, and customised online invoicing options
  • Accepts high-risk merchant accounts
  • Allows the user to accept all major credit and debit cards on both desktop and mobile platforms
  • Feature a customisable or pre-built checkout form. The dashboard system can also save card details so returning customers can pay with just a few clicks
  • No additional fees for setup, cancellation, and account maintenance

How can we Help?

CloudBanking has developed a single and streamlined cash flow management solution that can manage all payments. Our payment portal is focused on automated payment collection, cutting down on the amount of administrative cost that you might need to deal with when chasing invoices. Find out more features of Cloudbanking with accounting integration and recurring payment.


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