What is a Payment Gateway for WooCommerce?
WooCommerce is becoming the easiest and most convenient way to set up an online store. And one of the important parts of running an online business is to figure out some proper payment gateways. However, an online store can’t work if there aren’t any payment gateways and the even more essential if these payment gateways are popular for customers or not.
A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, bricks and clicks, or traditional brick and mortar. The payment gateway may be provided by a bank to its customers but can be provided by a specialized financial service provider as a separate service, such as a payment service provider.
What is WooCommerce Multi Currency Plugin?
If you have a WooCommerce store, WooCommerce Multi Currency is a must-have plugin for you. WooCommerce Multi Currency allows your customers to switch between currencies and helps your store accept payments in multi-currency. Moreover, the exchange rate can be set up manually or automatically. In addition, the plugin can automatically get customer’s geolocation and display the price in the customers’ native currency. So, what can WooCommerce Multi Currency do for you?
– Control Payment Method
– GEO Detect
– Auto Update Exchange Rates
– Compatible WPML and Polylang
– Fixed Price
One of the outstanding features of WooCommerce Multi Currency is Control Payment Gateways. This plugin allows you to select checkout currencies. Particularly, you can select one or more checkout currencies. To clarify, It helps sellers control which Payment gateways must be paid by a particular currency.
Which payment gateways are the best use for WooCommerce?
How a payment gateway is assessed as a good flatform or not can be based on some criteria such as level of security, fees, how easy and smooth it can work with WooCommerce, domestic and international payment acceptance, customer experience… So, here is a list of the most popular payment gateway that sellers prefer using.
1. PayPal payment gateways
PayPal is the most used payment gateway plugin. Here are some statistics of PayPal:
- There are more than 286 million active PayPal accounts
- It has more than 22 million active merchant accounts
- PayPal accepts payment almost with more than 200 countries and 25 currencies in the world, the currencies which PayPal supports
- Paypal fees for Sales within the US: 2.9% + $0.30 per transaction, more about PayPal Merchant fees here
To connect PayPal payment gateway on your WooCommerce, go to PayPal Payment Pro
2. Stripe payment gateways
Another popular payment gateway for WooCommerce is Stripe.
- Only 34 countries where Stripe supports and more than 135 currencies in the world, the currencies which Stripe supports
- The standard fees are 2.9%+$0.30 for every payment.
- Stripe is assessed as having a safe security system with an automated fraud detection system.
- Stripe accepts major credit and debit cards plus less popular forms of payment like Bitcoin and Apple Pay.
To use the Stripe payment gateway on your WooCommerce, go to Stripe.
3. AmazonPay payment gateways
Amazon Pay provides payment solutions for your eCommerce site that allows Amazon customers to pay on your website or mobile site using the information already stored in their Amazon account. Here are some statistics of this payment gateway
- Amazon Pay charges a flat processing fee for all payments. It also supports international payments at reduced rates and pays you directly.
- Amazon payment fees are the same as other payment gateways 2.9%+$0.30 per order.
- Amazon Pay is available for merchants with a place of establishment in the United Kingdom, Austria, Belgium, Cyprus, Denmark, France, Germany, Hungary, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and Switzerland.GBP: For merchants registering their Amazon Payments Merchant account in the UK (via pay.amazon.com/uk) and have a bank account in the UK denominated in GBP, the supported currency for disbursement is GBP.EUR: For merchants registering their Amazon Payments Merchant account (via pay.amazon.com/at, pay.amazon.com/de, pay.amazon.com/es, pay.amazon.com/fr, pay.amazon.com/ie, or pay.amazon.com/it) and have a bank account in any of the following countries (Austria, Belgium, Bulgaria, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Monaco, the Netherlands, Norway, Poland, Portugal, Romania, San Marino, Slovakia, Slovenia, Spain, Sweden, Switzerland, and the UK) the supported currency for disbursement is EUR.
To discover the AmazonPay gateway on your WooCommerce it is free to download now, go to Amazon Pay
4. Square payment gateways
- Square’s fees will be different by payment types:
– Your fee will be 2.6% + 10¢ of the total transaction amount for any of the following payment types: Swiped Magstripe Cards; Swiped or Inserted Chip Cards; Contactless (NFC) Payments
Prepaid Gift Cards; Point-of-Sale API Swiped or Inserted Payments; Swiped Virtual Terminal Payments;
– Your fee will be 3.5% + 15¢ of the total transaction amount for any of the following payment types: The card on File Transactions; Manually Entered Card Payments; Point-of-Sale API Keyed-In Payments; Manually Entered Virtual Terminal Payments.
– Your fee will be 2.9% + 30¢ of the total transaction amount for any of the following payment types: Invoices; Online Store; Square eCommerce API; eCommerce Card on File payments.
- The places where Square works if you opened a Square account in the region mentioned: US, Canada, Japan, Australia, and the United Kingdom.
- Square merchants receive their funds in one to two business days. If you need access to your money faster, you need to pay small extra money. Square is suitable for small businesses if they want to be paid rapidly.
To use the Square payment gateway for your WooCommerce, go to Square
5. Authorize.net payment gateways
Authorize.Net is considered as one of the most popular payment gateways because of its security, affordable credit card and eCheck processing.
- Authorize.Net’s fees can be classified by:
-The All-in-One Option is good for small businesses that don’t have their own merchant accounts with a bank provider. There’s no setup fee. The monthly cost is $25 and you will charge 2.9 percent plus $0.30 per transaction.
– The Payment Gateway Only is for businesses that have a merchant account and just need the technology to process and accept payments. This plan will cost $25 each month, plus $0.10 per transaction and a daily batch fee of $0.10.
– Enterprise Solutions are uniquely customized for businesses that ship more than $500,000 per year. Pricing is tailored to each company, so you’ll have to reach out for more information.
- Authorize.net accepts all major credit cards, signature debit cards, e-checks, and digital payment solutions like Apple Pay, plus you can integrate with PayPal.
- Authorize.net offers a number of customizable security settings to avoid fraud like IP Filters and Transaction Filters.
- Authorize.NET is supported in the United States, the United Kingdom, Europe, Canada, and Australia, therefore, merchants located in any of these countries can enjoy the full range of advanced payment processing services provided by Authorize.NET, as well as top-notch protection.
Source: The author collected
To use the Authorize.net payment gateway for your WooCommerce, go to Authorize.net
Control Payment Gateways in WooCommerce Multi Currency Plugin.
WooCommerce Multi Currency can control payment gateways, so the customers must pay by according to the shop owner’s needs. It is much more convenient for sellers to select which currencies will be accepted with which payment gateways. To clarify, let take a look at how to set payment gateways for a currency through an easy demonstration.
For example, you are an England seller, you want all the Englands must pay in GBP and accept payment by cash on delivery, direct by transfer. Simultaneously, you want all other European must pay by EUR and accept payment only by PayPal gateway.
With these requirements, here is the setting in WooCommerce Multi Currency:
Then in the front end, the results will be:
So, it’s easy and convenient for sellers, isn’t it? Above all the sellers need to do is to select the appropriate payments respectively to the current currencies of their shop.
Conclusion: There are so many payment gateways, but those above are the most popular for WooCommerce, to select the best payment gateways is normally depending on many factors, particularly, the level of security, fees, domestic and international acceptance as well as user experience… So the user should find out carefully the payment gateway’s information and their policies, and customer’s payment trending as well to clarify which payment gateways are the best fit.
To create your eCommerce site more attractive and professional, don’t forget to equip WooCommerce Multi Currency, which can help you above all not only switch multi currencies but also control payment gateways in which the sellers want the customers to pay when making transactions.