When it comes to launching your own online store with WordPress, choosing a WooCommerce payment gateway is an important step. There are many factors to consider during this decision, including how your customers will perceive your checkout options and what fees your solution requires.
Fortunately, there are many quality payment gateways and processors that pair well with WooCommerce. In this article, we’ll introduce you to them and share a few tips for choosing the best solution for your e-commerce site.
Let’s get to it!
An Introduction to WooCommerce Payment Gateways and Processors
First, let’s discuss the types of tools we’ll be exploring in this post. A payment processor facilitates credit card payments online or in-person by authorizing the transaction with the customer’s bank, and transferring funds to your merchant account.
On the other hand, a payment gateway integrates with your e-commerce solution to streamline the transaction. Instead of having to pass data through the credit card network and between banks, the gateway processes the payment online.
When it comes to WooCommerce specifically, there several payment gateways and processors available. By default, your installation will include PayPal Standard and Stripe. However, you can also install one or more payment gateway extensions to add more solutions to your site. Some of these are free, while others require subscriptions like other premium WordPress plugins.
7 Best WooCommerce Payment Gateways and Processors
Although there are dozens of WooCommerce payment gateways and processors to choose from, we’ve compiled a shortlist of some of the best options. When selecting which ones to feature, we took into account the following factors:
Here they are, starting with the default WooCommerce gateways.
1. PayPal Standard
PayPal is a big name in the online payment industry. This is beneficial to you because most customers should recognize and trust this platform, eliminating a potential barrier to sales. After all, you can’t blame online shoppers for hesitating to input credit card details into an unfamiliar gateway. However, its benefits extend far beyond brand recognition.
Price: As far as merchant fees go, you’ll pay 2.9 percent of every transaction as well as a flat rate of $0.30 per transaction. There’s an additional 1.5 percent fee for international payments. Fortunately, since this gateway comes with WooCommerce, you won’t have any other related expenses.
Stripe is another popular payment gateway that can also act as a payment processor for in-person credit card transactions. This makes it a handy option if you also have a brick-and-mortar business or if you sell products at events such as craft fairs or farmers’ markets.
Price: Stripe offers the same rates as PayPal – 2.9 percent per transaction plus a $0.30 flat fee per transaction. However, it also offers qualifying users the option to build a custom package to receive volume discounts, country-specific rates, and other special deals. It integrates with WooCommerce for free.
3. PayPal Pro
As you’ll quickly notice if you visit WooCommerce’s extension marketplace, there are several variations on the PayPal payment gateway. PayPal Pro is very similar to the default option mentioned above but enables customers to remain on your site throughout the entire checkout process. This can help minimize cart abandonment and lost sales.
Price: The transaction fees for PayPal Pro should be the same as those for the standard gateway (2.9 percent + $0.30 per transaction). However, there is also an additional monthly fee to use this service. The official WooCommerce extension costs $79 per year as well.
Authorize.net is a highly-rated but somewhat lesser-known payment gateway (at least when compared to PayPal and Stripe). Reviews speak highly of the extension’s support team and its smooth setup process. On top of that, Authorize.net includes a lot of helpful features just for WooCommerce users.
Price: As far as your expenses for this payment gateway go, you’ll have to fork over the standard 2.9 percent + $0.30 per transaction charge. It’s also $25 per month for a merchant account with Authorize.net and $79 per year for the WooCommerce extension.
Another top-notch option if you want to take payments online and in-person is Square. This payment processor is popular among small business owners for its many physical card readers and card payment apps, which enable you to process transactions even on-the-go.
Price: This WooCommerce payment gateway requires the standard 2.9 percent + $0.30 per transaction fee. The extension to add it to your website is also free.
Braintree offers another way for you to accept PayPal Credits on your website. It also processes credit cards and digital wallets such as Apple Pay. In this regard, you could consider it an alternative to some of the other options on this list. Your decision will likely boil down to user experience between your chosen options.
Price: Pricing-wise, you’ll pay 2.9 percent and $0.30 per transaction. For large volumes and unique business models, custom plans are available. The WooCommerce extension is free.
7. WooCommerce Payments
Our last recommendation is WooCommerce Payments. This extension is a payment gateway created by the e-commerce plugin developers. You can expect deep integration and a smooth user experience as you manage all your payment-related tasks right from your WordPress dashboard.
Price: This payment gateway comes with the standard 2.9 percent + $0.30 transaction fee but is completely free to download and install on your site.
How to Choose a WooCommerce Payment Gateway
Now that you’re familiar with some of the best WooCommerce payment gateways and processors, you may be ready to make a decision regarding which one to use for your online store. Keep in mind that you can always enable multiple options. In fact, this may help increase your sales since your customers will be able to choose their preferred method.
If you’re still feeling a little stuck as to which solution is right for you, consider the following:
With these guidelines in mind, you should be able to narrow down your options to a couple of ideal solutions.
Your online store’s payment gateway is one of its most important features. When it comes to WooCommerce, you have many top-notch options available to choose from. Fortunately, they’re all easy to use, and packed with essential functionality.
Which is best for you will depend on a few different factors. PayPal is highly recognizable and trusted by online shoppers. Stripe supports well over a hundred different currencies to help you take your operation global. If you’re also planning to sell in-person, you may want to look into Square.
Do you have any questions about choosing a WooCommerce payment gateway? Ask away in the comments section below!
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This content was originally published here.