Selling products online involves collecting payments through virtual channels so that online shoppers can pay securely for the products online and place orders.
Several online gateways can be used to process the payments.
Choosing the best WooCommerce payment gateways for your business depends on your type of business and requirements. If you have an online store, you can choose from plenty of options available. It is crucial to pick from the wide variety of options you have.
How to Choose the Right WooCommerce Payment Gateway?
Here is a guide to help you choose the right WooCommerce payment gateway so that your customers can pay securely and place orders online.
- The first and foremost thing you should do is ensure that the web host offers an SSL certificate for your website.
- The payment gateway should be Payment Card Industry Data Security Standards(PCI DSS).
- It is essential to get an idea about the estimate of the cost of payment gateways and the cost per transaction that eCommerce owners would have to pay. Some service providers charge upfront and some amount of percentage per transaction also.
- Choose a payment gateway that accepts multiple currencies. It will help you expand your business across the globe.
- Look for round the clock support from the service provider.
Do a little research over the internet and try to compare several payment gateways for WooCommerce. Try to gather all the information and make the right decision while choosing WooCommerce payment gateways.
Top 8 Payment Gateways for WooCommerce
PayPal
PayPal is the most popular online payment gateway that is used by millions of online stores. Being one of the oldest payment methods in the world, it gives access to all the major bank accounts, credit cards, and addresses. It offers support for over 25 currencies and has more than 200 million users.
PayPal Pro payment processing service makes it easier to process credit card payments and purchases online. It helps to make the store checkout process easy for the users.
Your users will fall in love with your WooCommerce store when you have the PayPal payment gateway on your online store, and you would surely experience an increase in your online sales with it.
Though you would have to pay a little extra ($30 monthly fee) in addition to the transaction fee, you would be able to enjoy the endless benefits and security as it is PCI compliant.
Stripe
Stripe – If you are looking for free to set up a payment method for WooCommerce, this can be the right option. The only costs you may have to worry about are the customer chargebacks. It is PayPal’s competitor when it comes to online payment gateways. It supports metered billings and subscriptions.
With Stripe, your eCommerce store can save the customer information too. It also helps you analyze the data and customize marketing strategies.
Stripe is known for offering better customer service than PayPal, but it is limited to a few countries only. It accepts over 135 currencies. It accepts all major credit cards, Bitcoin, digital payment methods like Apple Pay and Android Pay also.
This payment method is also PCI compliant, and so, you do not need to worry about the security of the payments made by customers online.
Authorize.net
Authorize.net is another oldest form of payment gateways for WooCommerce that may be used by most of eCommerce development companies. If you are worried about credit card frauds on your eCommerce store, choose this payment method.
It protects your website against credit card frauds, but you will have to pay for it. The initial setup cost for it is $49, and you will have to pay $25 as a monthly fee. That’s not all.
You will have to pay additional fees based on the transactions also. You will have to create a merchant account to collect your payments. Authorize.net works with all the other major third-party systems such as Shopify, BigCommerce, Magento, QuickBooks, and others.
Square
Square is also a big name in the industry of payment gateways for WooCommerce. It accepts all the major credit cards across the globe and ensures faster deposits. Along with the other amazing features, it also provides physical Points of Sale (PoS), and this feature makes it unique and accessible among all the other payment processing methods.
If your business has an online and physical presence, you can accept payments through Square easily. You would not have to pay extra for online transactions. You would have to pay the charges only for POS.
It is an excellent option for automated for single and recurring transactions. It can also work with WooCommerce and WP EasyCart. WooCommerce website owners and designers can customize the gateway to match the look and feel of their website. The design of the checkout page is very attractive and user-friendly.
Braintree
Braintree – This payment gateway is an amazing way to accept online payments for a WooCommerce store. Without paying any monthly costs, one can use Braintree’s hosted services without setting up a merchant account.
It also offers advanced fraud protection features with its service. It can process over 130 currencies and is available in more than 44 countries.
Moreover, it is suitable for recurring billing options and subscription-based services, as well as donations. Braintree can also be integrated with other third-party tools such as Magento, Salesforce, 3dcart, and BigCommerce. You can use the readymade interface or customize the design of the checkout.
Skrill
Skrill is another payment gateway that is fast and secure for your website. It is formerly known as Moneybookers, which came from England. It generally follows the principle of prepaid cards. You can use it for your online transactions. You can send the money instantly & make payments using one single step.
This payment gateway is straightforward. You just need to use your e-mail Id & online banking details to receive or send. Do not worry about details, it is secure & your banking data never share with anyone.
Skrill has a charge of a 1.9% transfer fee and an approximately 3.99% margin on the exchange rates. You can also create your account on skrill, but for that, you need to make a transaction at least every 12 months.
Amazon Pay
Amazon pay is one of the popular online platforms that offer a great payment processing system. If you would like to use Amazon Pay, then you can checkout using Amazon accounts & pay via their usual payment settings.
Amazon is a known platform, and everyone mostly using it, so you can suggest your visitors pay via their Amazon account as well.
The payment is quite easy, and you can do it via credit or debit card. There has no charge for creating or register a new account. However, the seller needs to pay some payment, such as a commission of 1.9% and 35 cents per transaction.
As technology up-gradation, Amazon Pay frequently updates as well. Now, they also offer voice shopping. It is helping the online industry to expand the online business & attract more visitors. It has a secure checkout experience backed by amazon’s technology—one of the famous checkout process.
2Checkout
2Checkout is a new payment service and not a very popular service such as PayPal or Stripe. However, this payment system contains an all-in-one monetization platform that quickly maximizes your conversions. It also helps you to make your sales easier in the global market.
2Checkout is a reliable team player, and almost 500+ companies have used this payment gateway. It is also dealing with credit card payments and offers free setup for all users.
It simplifies the complexity of global payments, taxes, subscription billing, etc. Furthermore, it also helps to focus on delivering excellent customer experiences.
As far as its fees, it charges around 2.9% plus $0.30 per transaction. Moreover, they also charge between 1-1.5% for your international transactions. It has many valuable features and smooth to integrate with the online website.
Which Payment Gateway Should You Choose for Your WooCommerce Store?
When it comes to choosing WooCommerce payment gateways for your online store, you cannot pick one randomly. You should weigh all the pros and cons and make sure that you choose the one that matches your requirements and business goals.
Some payment gateways are suitable for specific regions and markets only. Some payment gateways can accept only some specific types of payments. You should be able to accept payments from more and more diverse customers coming from different regions who use different payment methods.
You can seek help from an expert eCommerce web development company to help you make the right decision while choosing payment gateways for your WooCommerce store. Choosing the right combination of payment methods will help you gain the maximum advantage.