Pros:
- Reliability: Given its long history in the industry, Authorize.net is known for its stability and reliability.
- Versatile Payment Options: Authorize.net supports a variety of payment methods, including credit cards, digital payment solutions, and electronic checks.
- Security: The platform offers advanced fraud detection, tokenization, and support for the Payment Card Industry Data Security Standard (PCI DSS) compliance.
- All-In-One Option: Authorize.net provides both a gateway and a merchant account, making it a one-stop-shop for some businesses.
- Recurring Billing: Supports subscription-based businesses with its recurring billing functionality.
- Mobile Point of Sale: They offer a mobile POS system, which is useful for businesses that also sell in person.
- Integrations: Due to its widespread use and longevity in the industry, many third-party applications and eCommerce platforms readily integrate with Authorize.net.
- Customer Information Manager (CIM): Allows businesses to store sensitive customer data securely, enabling faster checkout for returning customers.
Cons:
- Fees: Besides the transaction fees, Authorize.net charges a monthly gateway fee, which might not be economical for businesses with a low volume of transactions.
- Complexity for Beginners: While robust, the platform might be a bit daunting for those new to payment gateways.
- Account Holds and Freezes: Similar to other payment gateways, Authorize.net can hold or freeze accounts due to suspicious activities, which can be disruptive for businesses.
- Not Always the Most Competitive Pricing: For businesses processing a large volume of transactions, there might be more cost-effective solutions available in terms of processing fees.
- Customer Support: Some users have reported challenges in reaching customer support or receiving timely resolutions to their issues.
- Cancellation Fees: Some merchants have reported that they were charged fees when trying to cancel their accounts.
Conclusion: Authorize.net is a solid choice, especially for businesses looking for a well-established and reliable payment gateway. It’s particularly well-suited for medium to large businesses that can justify the monthly gateway fee. However, small businesses or those just starting might want to compare the costs and features with other platforms to ensure they’re getting the best value.