Online Payment Gateways and the Expediency of Their Use in Small to Medium-Sized Internet Shops in Ukraine

摘要

A very important aspect of a functional Internet store is the process of accepting payment for goods or services from customers. Payment methods can be classified online and offline. Major international and local Ukrainian payment gateways and their fees and features were analyzed. As a result threshold of a minimum monthly store turnover was defined, where offline manual payment processing is no longer reasonable. Best payment gateways by the different criteria were defined. Online and offline payment processing expenses for a small and medium-sized internet stores in Ukraine were estimated using a mathematical model that included average order value, monthly store sales amount, worker salary amount and manual transaction processing time. As a result, offline payment processing is less expensive for the most of the small and medium stores, and online payment processing is effective for stores with a large number of small orders. Despite having almost equal transaction fees, Ukrainian payment gateways have fewer features and less trust by the international customers, but the usage of the most international services are not possible in Ukraine because of legal issues.