You’ve probably had to navigate the minefield that is e-commerce shops’ uneven payment options. Some people prefer PayPal, while others prefer traditional payment cards, and a select handful even accept cryptocurrencies. When it comes to WordPress, you should think about which payment gateway is appropriate for WooCommerce.
This e-commerce plugin is compatible with almost all major payment gateways. Choosing the proper ones will help you increase sales, collect money faster, and make your life easier in general.
We’ll introduce you to five high-quality Payment Gateway for WooCommerce and help you decide which ones to use in this article. Let’s talk about money.
Why you should use multiple Payment Gateway for WooCommerce
Payment gateways are services that allow you to receive funds from the things you sell on the internet.
When it comes to payment gateways, there are a lot of possibilities, as you might expect. We usually advise you to pick more than one for the following reasons:
- So that customers can use an option they prefer.
- To avoid losing out on sales because users don’t like a specific gateway.
- So you have backups in case you run into an issue with a specific payment processor.
In response to the first two criteria, the Baymard Institute discovered that 6% of consumers abandoned their carts because “there weren’t enough payment alternatives.”
The good news is that WooCommerce is compatible with all of the major payment methods. This means all you have to do is decide which ones you want to utilize, sign up for them, and then discover the appropriate extensions to connect them with your store.
Five of the best Payment Gateway for WooCommerce
It’s possible that using a single Payment Gateway for WooCommerce isn’t the greatest idea. You don’t have to use all of them, but you don’t have to. Two or three payment processors should be plenty to cover your bases for small to medium online stores, but your mileage may vary. Let’s take a look at a few of the best!
When it comes to Payment Gateway for WooCommerce, PayPal is the clear king. It has more than 200 million active users and is quite simple to integrate with an online store. PayPal is the greatest payment gateway for WooCommerce, and it should be one of your default payment gateways at all times. Then, depending on your preferences, you can select a second or third non-PayPal gateway.
PayPal allows you to accept credit and debit cards as well as money from other PayPal users. You will be charged 2.9 percent of the total charge + $0.30 for each transaction (for domestic purchases within the US).
If the average payment in your store is less than $10, you may be eligible for PayPal’s Micropayment rates. This rate costs a greater percentage (5%) but a cheaper flat fee ($0.05). That will save you money on modest payments, but you can only qualify if your average payment is less than $10.
PayPal also provides different levels of service for merchants as well as a high level of security for clients.
You may add PayPal to your WooCommerce store using one of several PayPal extensions.
Stripe is the preferred payment processor for a number of high-profile companies, including Lyft and Slack. In reality, it is only second to PayPal in terms of online payment market share.
Stripe allows you to accept credit cards as well as mobile payments (such as Google and Apple Pay). Stripe also accepts a variety of local payment methods, such as Alipay, WeChat Pay, and bank transfers.
Stripe is an excellent alternative simply because of the volume of sales data it delivers. It’s also the king of recurring billing because there are no additional fees for the feature. Stripe, like PayPal, charges 2.9 percent of each transaction plus $0.30 in basic fees.
To integrate Stripe, you can use the official extension. You can also find non-WooCommerce Stripe plugins.
You’re probably familiar with Square’s mobile hardware payment solutions. The company does, however, provide an online payment gateway solution that allows you to accept payments through your website.
You may accept credit cards, Apple Pay, and Google Pay with Square. Their prices are common in the business, as they charge 2.9 percent + $0.30 for each transaction, similar to PayPal.
The biggest benefit of adopting Square is that it allows your visitors to pay using their preferred mobile payment method. Mobile payments are still in their infancy right now, but incorporating them into your website now can help you capitalize on their growth and stay ahead of the curve when they become more mainstream. When it comes to mobile payments, Square is the finest payment gateway for WooCommerce if you’re prepared to be on the cutting edge.
We recommend using their official extension to interact with WooCommerce; this just requires you to have a Square account before you can begin processing sales.
Check Out – Best WordPress Affiliate Plugins (2021)
Authorize.Net is one of the most well-known Payment Gateway for WooCommerce, and it’s a little more business-friendly than PayPal and Square. You can accept credit card and PayPal payments through your website with it.
The biggest disadvantage of Authorize.Net is the $25 monthly cost, which is in addition to the standard 2.9 percent plus $0.30 each transaction. It’s not a huge sum, but it’s something to consider. However, you receive access to one of the strongest anti-fraud systems available for your money, so it can be worth it if you process a lot of sales.
In the end, Authorize.Net can be a great alternative to PayPal if you don’t want to utilize PayPal directly. It also allows users to pay with PayPal without having to leave your site.
In our experience, integrating Authorize.Net with WooCommerce is rather straightforward. All you need is an Authorize.Net account and the the right extension to get started.
5. Amazon Pay
When they’re not dominating the world of e-commerce and cloud services, Amazon also moonlights as a Payment Gateway for WooCommerce, as you may be aware. The biggest advantage of using Amazon Pay is that customers are familiar with and trust the firm, so they feel safe making purchases with it.
Customers can use Amazon Pay to pay with credit and debit cards, as well as Amazon Pay itself. They charge the same costs as any of our other recommendations – 2.9 percent each transaction plus $0.30.
This Payment Gateway for WooCommerce is a good alternative for multi-currency companies, in addition to benefiting from the Amazon brand. It also allows customers to check out without having to leave the page.
The method of integrating WooCommerce is straightforward. You may utilize an official Amazon Pay extension, and the setup process is simple if you already have an account there.
Best payment gateway for WooCommerce: Summary
People that shop at your online store will, in most situations, have a preferred payment method. If you don’t support it, people may look for other places to shop. As a result, the payment gateway you choose for WooCommerce is crucial. It’s also why, in most circumstances, combining many options is recommended.
Here are our top five recommendations for the best payment gateway for WooCommerce:
- PayPal: If you’re going to use a single payment gateway, this should be it.
- Stripe: This developer-friendly option enables you to take credit cards, mobile payments, and more.
- Square: With Square, you can accept credit cards and mobile payments.
- Authorize.Net: With Authorize.net, you can take cards and PayPal, but they do charge a small monthly fee.
- Amazon Pay: With this payment gateway, you can take credit cards and Amazon Pay itself.