One of the primary key points of managing a flourishing online store is providing a better payment solution that offers better security, and trust for your customers. Along with so many options in the tray, selecting the right payment gateways for WooCommerce might seem difficult.
Let’s first get to know what is Payment Gateway.
Platforms through which you can accept payments are known as Payment Gateways. Despite facing all the financial and legal hassles, you can simply work for a third-party payment gateway that will handle it all for you. It handles your customer’s credit card numbers, expiration dates, and other personal information securely.
It also helps in making the entire transaction less anonymous and more transparent. Some of the payment gateway examples are Apple Pay, Gpay, Paypal, etc. There are two types of payment gateways that you can use on your website:
- A payment that is directly done in your store, which means that the customer will never, leaves your website. Some of the eCommerce sites such as Amazon or Shopify work like this.
- Payment is made on the payment gateway’s website, for the payment the customer needs to click a link, which directly goes to the payment gateway’s website. PayPal is one of the examples of this method.
How does a Payment Gateway work?
Payment gateways are very easy to build
- You can create an account by one of the following gateways below;
- Link the account to your business or personal bank account
- Add the payment gateway to your website, most of the gateways also provide plugins that quickly connect to WooCommerce.
- Now, you’re all set to accept the payments.
- At last, you will receive the money in your account, within a few days, depending on the gateway.
- The entire process will take place in less than a few seconds!
If you want to prefer the best WooCommerce payment gateway for WordPress, there are various factors you should consider. Here are a few steps you can follow:
Decide the supported countries
Check each payment gateway’s website to see if they support your target region. This information is usually listed under “Supported Countries” on their website. If you cannot find this information, email the payment gateway directly to confirm.
Consider additional features
Besides country support, consider other features that your business may need. Some examples include easy refunds, extra security measures, verification processes, and regulatory compliance based on your region
Evaluate transaction fees
Look for a payment gateway that provides the best transaction fees for your business. This will depend on the volume and value of your transactions. Stripe is often recommended as a top choice due to its competitive transaction rates
Check the k availability of WooCommerce Payments
WooCommerce Payments is a white-label version of Stripe. It offers ease of use and a simple setup. However, note that it may not be available in all countries supported by Stripe. Consider whether the countries you want to sell to are covered by WooCommerce Payments
Consider user experience
A good checkout experience is crucial for conversions. Stripe and WooCommerce Payments are known for providing a good checkout experience. On the other hand, PayPal may not offer the same level of checkout experience, which can result in more abandoned cart sales
Offer multiple payment options
Consider offering multiple payment options to your customers. For example, you can accept credit cards with Stripe and PayPal on your WooCommerce store. This can increase online store conversions
Based on the search results, here are some of the best WooCommerce payment gateways for WordPress:
Stripe provides a good checkout experience and competitive transaction rates. It is available in most countries supported by WooCommerce payment gateways, except for Alipay. WooCommerce Payments is a white-label version of Stripe
PayPal is a popular payment gateway that operates in many countries and accepts payments in multiple currencies. It offers 24×7 account monitoring, advanced encryption, and fraud protection. However, it may not provide the best checkout experience compared to Stripe
Authorize.net is another popular WooCommerce payment gateway. It offers secure and reliable services with features like customer profiles and card tokenization. It supports both credit card and eCheck processing.
It is one of the affordable payment gateways out there Square has a free-to-download WordPress payment plugin that charges no monthly fees.
- WooCommerce Payments:
WooCommerce Payments are one of the best payment methods, which are specially designed for smooth integration with Woo Stores. Although this plugin can only be used by US-based merchants, it is still among the top preferred payment plugin by thousands of WooStore owners.
The best WooCommerce payment gateway for your business depends on your specific requirements and preferences. It’s quite necessary to carefully research and assess each option to make informed decisions.