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WOOCOMMERCEPAYMENT GATEWAYS
THAT WILL SAVE YOU IN 2020
IntroductionWhat is a payment gateway?How does a payment gateway affect eCommerce sales?Why would WooCommerce stores need the best paymentgateway?Some of the best and successful WooCommerce paymentgateways
Amazon PaySquarePayPalStripe
Which are the best Woocommerce plugins for paymentprocessing?Conclusion
TABLE OF CONTENTS
WooCommerce Payment Gateways
INTRODUCTION
When starting out in the world of eCommerce business in2020 — especially if you are using a WooCommerce onlineplugin (WordPress platform) — one of the most essentialthings you need to do when designing your web store is toselect a suitable payment gateway. Using an online paymentgateway system on your eCommerce website helps you andyour customers to transact business efficiently. This articlewill give you an insight into payment gateways and explain indetail the importance of the best WooCommerce paymentgateways for your online stores.
WooCommerce Payment Gateways
What is a payment gateway?
As we all know, in physical retail, traditional paper concepts likecash-on-delivery, checks and money orders are the mainpayment methods. On the other side, all online businesstractions are carried out via an electronic payment gateway. Sowe can say that, payment gateways are replacements totraditional paper concepts.
For those of you who are new to the eCommerce business andyearning to know in detail about the online payment concept —a payment gateway is an online service or payment technologythat helps in executing financial transactions especially whenorders are made by the customers through a website orsmartphone.
WooCommerce Payment Gateways
It is a software service, which helps online merchants to carryout payment transactions conveniently. As the entire world willbe using the Internet for all sorts of transactions, such apayment system is important to carry out transactions andpurchase orders smoothly and efficiently.
Similarly, with a good and reliable payment gateway, credit cardtransactions are smooth and safe. International customers feelsecured to conduct any kind of high-end business or banktransaction as the payment gateway is encrypted andconnected with a web server that is either maintained by a bankor the end processor – in this case, it would be you!
WooCommerce Payment Gateways
How does a payment gateway affecteCommerce sales?
There are several online payment gateways you can use toprocess your web store’s sales, but if you select the wrongonline payment service, your sales might decrease drastically.One of the key reasons for this result is the inconveniencecaused to your customers while using your online paymentgateway.
Customers always seek payment services that offer promptservices – free of any technical glitches and other problems.The moment your payment gateway causes trouble, customersmight either stop the existing transaction or switch to yourcompetitor’s store to purchase the same item. And youcertainly wouldn’t want that.
WooCommerce Payment Gateways
Hence, to eliminate this problem, you will need to test everypayment gateway before you integrate them on youreCommerce store. But the real problem is – not all eCommerceweb stores are compatible with the best payment gatewayavailable.
Well, if you are operating a WooCommerce web store, you arein luck! This is because with a WooCommerce web store youcan integrate and check all the best online payment gateways.You can test which payment gateway is more convenient foryou and your customers. That way, you can increase sales, getpositive customer reviews and grow your eCommerce store toits full potential.
WooCommerce Payment Gateways
Alleviating technical problems while transferring moneyReducing the incidence of credit card frauds and othercyber crimes like hacking prevalent within the world ofeCommerce business
Why should WooCommerce stores need thebest payment gateway?
In addition to increasing sales for your web store, having thebest WooCommerce payment gateways can help you and yourcustomers tackle and overcome a few challenges whiletransferring money online.
There are many benefits to using a good WooCommercepayment gateways plugin such as;
Furthermore, a reliable payment gateway allowsWooCommerce merchants to efficiently execute debit card,credit card, net banking and gift cards. WooCommercepayment gateways act as the intermediary to ensure thatcustomer data is encrypted and secure while transferring theamount.
WooCommerce Payment Gateways
Compared to other eCommerce platforms, setting up andintegrating a payment gateway is easy in a WordPressplatform.Payment gateways integrated viaWooCommerce extensions require less maintenance.Multiple WooCommerce payment gateways feature allowsyou to integrate and test the best payment gateways for yourweb store.Having the best WooCommerce payment gateways expandsyour customer base exponentially. It enables shoppers fromacross the globe to have access to your web store.
Here are other few reasons for using reliable and bestWooCommerce payment gateways –
WooCommerce Payment Gateways
With a robust WooCommerce payment gateways plugin inplace, online business transactions can be executed at amuch faster rate than manual processing (cash-on-delivery).Customers can make purchases instantly without waiting forlong hours.
Lastly, integrating your web store with a compatibleWooCommerce payment gateways plugin offers addedconvenience. It means your store is open 24/7, and yourcustomers can purchase any item at any hour of the day ornight from the confines of their own homes.
WooCommerce Payment Gateways
Some of the best and successfulWooCommerce payment gateways
The only way to increase sales in your business is to haveWooCommerce payment processors that will make businesstransactions convenient for you and your customers.
Here in this section, we will list down ways to help you selectthe best WooCommerce payment methods, and also familiarizeyou with the different factors to consider while selecting theright payment gateway for your business specifically for yourcustomers.
Usually, most of the WooCommerce stores provide similarpayment solutions. Likewise, it is essential to implementWooCommerce multiple payment gateways plugins to help youdifferentiate your business from the current competition. Atthe same time, multiple WooCommerce payment gatewaysplugins will offer your customers a choice to make paymentsthrough different payment gateways.
WooCommerce Payment Gateways
Amazon Pay
This online payment service has been making businesstransactions easier for most customers. Amazon Pay is anonline payment service offered by eCommercebehemoth Amazon.
With the Amazon Pay WooCommerce payment gatewaysplugin, you can provide your customers with a payment optionthrough their Amazon account. For payment to take place,both the payer and payee are required to have an Amazonaccount. This mode of payment is one the easiest ways totransfer money to your account, as it only requires your emailaddress and password for validation.
WooCommerce Payment Gateways
One of the key benefits of using this payment gateway is thatyou don’t need to enter payment history and information onthe third-party website. Amazon acts as a go-between thecustomer and the eCommerce store. The customer is notcharged for creating and using an account.
With the Amazon Pay payment gateway, customers cantransact through their debit, credit cards, and even via netbanking. The online merchant, on the contrary, must offer acommission of nearly 1.9 per cent per payment transaction.
Amazon Pay accepts payments from the following currencies– Australian Dollars, US Dollars, Pound sterling, Danish Krone,Euros, Hong Kong Dollars, New Zealand Dollars, JapaneseYen, Norwegian Krone, South African Rand, Swedish Krona,and Swiss Franc.
WooCommerce Payment Gateways
Square
Square is another popular WooCommerce payment methodwhen it comes to processing online payment via credits cards.This payment gateway accepts payment coming in from alltypes of credit cards and hence, is the most suitableWooCommerce payment plugin for international business.Moreover, Square provides quicker payment deposits than itscompetitors, such as PayPal.
WooCommerce Payment Gateways
In addition to its online features, Square also provides the“Square Points of Sale” (POS) – a mobile phone app for easypayment. What is unique about this app? If your business has abrick and mortar store, this app enables you and yourcustomer to render the same payment service for both youronline and physical store sales.
Furthermore, Square does not charge you for processingonline credit card payments. Instead, they charge 2.9 per centfor each sale. This is an amazing service charge especially ifyou are selling products or services with a high-profit margin.Square is easy to set up and integrate with WooCommercethrough its official Square extension.
WooCommerce Payment Gateways
PayPal
This payment gateway is by far the oldest payment gateway onthe Internet. PayPal has over 200 million loyal customers,supports more than 20 different currencies, and is extremelyeasy to use if you are purchasing an item online.From the commercial point of view, you have the PayPal Propayment processing service feature, which enables customers tomake payments with or without accounts on the platform. Youcan use the PayPal Pro service to process payment transactionsmade from credit cards and user balances.
This service allows users to send and receive money fromdifferent users, request payments, and use their account balanceto buy products and services on different eCommerce stores.
WooCommerce Payment Gateways
As far as WooCommerce business goes, there is no reasonwhy you should not integrate PayPal WooCommerce pluginfor processing payments. PayPal for WooCommerce pluginis one of the best and easiest payment gateways as it letscustomers make the payment from any part of the world.
Besides, this WooCommerce payment gateway offerscomplete protection to buyers and online merchants. Youcan alert officials through its dispute resolution processshould there be any fraudulent transactions or anycybercrime.
WooCommerce Payment Gateways
Stripe
Stripe is the main competitor of PayPal when it comes toprocessing online transactions and payments and it is easy tonotice! As a user (in this case a customer), the process oftransferring an amount is similar to PayPal. Likewise, when itcomes to the storage capacity of a payment gateway, Stripesurely beats PayPal.
Here’s an example, WooCommerce Stripe gateway has featuresthat enable you to store vital customer information. This is highlyuseful because you can determine and evaluate that data to findpatterns and strategize better marketing plans for yourWooCommerce store.
WooCommerce Payment Gateways
Lastly, Stripe provides an overall enhanced payment experienceto users. Customers find it convenient to make paymentsthrough Stripe than PayPal. However, like all payment gateways,Stripe has its own limitations – it is available for businesses inonly a few countries. If you run your WooCommerce store fromone of those countries, Stripe can be a better option and themost suitable alternative to PayPal.
WooCommerce and Stripe can form an excellent combination tooperate your store. Stripe is easy to integrate and asmentioned, offers the best customer experience. To integratethis payment gateway with your online store, your best option isto use the free WooCommerce Stripe plugin.
WooCommerce Payment Gateways
Which are the best Woocommerce plugins forpayment processing?
Although every payment gateway has its own pros and cons;however, when it comes to WooCommerce, the mostcompatible payment gateway is Stripe. It is considered the bestpayment gateway for WooCommerce web stores.
Unlike other payment gateways, WooCommerce Stripegateway is much easier to integrate and it allows you to acceptcredit card payments on your website.
Likewise, WooCommerce Stripe plugin is only available in a fewcountries hence; you will have to personally check whether thispayment gateway is available in your country before integratingit to your WooCommerce store. If you are unable to integrateStripe, your next best option is to use PayPal WooCommerceplugin, which has its own advantages over Stripe.
WooCommerce Payment Gateways
One of the key benefits of integrating Stripe as a paymentgateway to your WooCommerce store is it enables customersto stay on your web store when making a payment, instead ofbeing redirected to another site. Besides, Stripe does notcharge any setup fee to its users.
From a web developer and an online merchant’s perspective,Stripe is the easiest payment gateway to set up, integrate andmaintain. Its Application Processing Interface (API) providesbackend developers with full control to modify the paymentgateway when needed.
Similarly, from a customer’s point of view, Stripe is the onlypayment gateway that does not direct customers to analternative site when making a payment. It supports multi-currency and is suitable for international business.
Moreover, Stripe provides secure interactions with its serversto safeguard your customers’ payment data.
WooCommerce Payment Gateways
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Conclusion
When it comes to selecting the best WooCommerce paymentgateways, you must not just choose one or two haphazardly. Yourchoice of payment gateways can impact your sales since some ofthem are only available for certain countries and markets.Similarly, other WooCommerce payment gateways may onlyaccept payments in a different currency.
Your main objective must be to maximize sales and enhancecustomer experience through the choice of your paymentgateways. Setting up a just a few payment gateways is not usuallya practical idea. However, you can always make your customershave the best payment experience by setting up a perfectcombination of WooCommerce payment gateways.
WooCommerce Payment Gateways
