WooCommerce Payments. Methods, options, and best plugins

WooCommerce Payments is a comprehensive integrated system that allows the company to accept online payments from debit and any other cards, and users to pay for goods or services immediately on the website. In addition to accepting payments, this integrated payment system makes it easy to manage recurring company revenue and refunds, track cash flow, resolve disputes, monitor changes, and track deposits from your store’s back-end dashboard. This streamlined administration simplifies the management of international payments, giving you more time to focus on growing your company. We can set up existing or develop from scratch if your payment provider doesn’t have woocommerce integration yet.

The online store must support several payment methods WooCommerce. In this case, users have a choice, they themselves choose the most convenient method of paying for a product or service. Let’s talk about WooCommerce payment types in more detail.

Cash on delivery is always a higher risk for the seller but a more convenient option for the buyer. If it is possible to organize delivery with a minimum commission and quick receipt of money to the company’s account with cash on delivery, use this option.

This option eliminates risks for the seller, but is not very convenient for the buyer. As a rule, the client pays for the product/service before he receives it. This is a must-have option for regular customers who have already purchased from your store and trust you. Another advantage of such a WooCommerce payment for the customer is the absence of additional fees for sending funds back to the seller.

This is a particularly relevant option if you are engaged in international sales. Sellers should be wary of possible deception. The payment procedure is similar to that of a direct bank transfer in that the buyer obtains the necessary information to complete the transaction. The products are supplied once payment has been received, which has the same advantages and disadvantages as a bank transfer.

Payment can take two forms:

• direct; 
• redirect. 

A direct payment gateway allows users to pay for a product directly on the website. In redirect mode, the payment gateway takes care of the checkout, which means your users will be redirected to an external site (usually the payment service provider’s website) to complete the checkout.

The WooCommerce payment gateway is a third party between you and your customers. It performs some security checks before allowing money to be transferred from a client’s account to your trading account. The payment gateway encrypts information to hide it from hackers or scammers. Therefore, the payment method allows the transfer of funds. This ensures the security of sensitive financial information transferred between the buyer and the seller’s platform.

When choosing a WooCommerce payment gateway, you need to know what features to look for. Please note the following:

• Web hosting support for encryption type. To process secure payments, the site must have an SSL certificate. Major web hosting providers provide this service.
• The payment gateway you choose must comply with Payment Card Industry Data Security Standards (PCI DSS). This means that your payment gateway must be protected by a Secure Socket Layer certificate.
• WooCommerce payment gateway cost. We recommend choosing a low flat rate option. Thanks to this, you can save the company’s budget.
• Choose a payment gateway that accepts a wide range of major international currencies. The payment gateway should also support businesses from your region as well as the location of your target customers.

We have made a selection of the best WooCommerce payment gateways. Thanks to this, you can familiarize yourself with their features and choose the best option for your business.

This gateway is developed by WooCommerce. Key benefits of this plugin:

• no monthly or setup fees;
• support for regular payments;
• accepting payments through Android Pay and Apple Pay wallets;
• support for debit and credit cards;
• possibility of payment in more than 135 currencies.

This plugin is an excellent solution for international business. Up to 25 countries around the world make e-commerce payments using Stripe.

PayPal is one of the most popular payment gateways in the world. WooCommerce supports this system. The main advantages of payments via PayPal Pro:

• free installation;
• payments in almost all international currencies are available;
• customers do not need to have a PayPal account to make payments using PayPal Payment;
• PayPal servers handle all payment processes. This ensures the security of the payment process;
• customers get a fast user experience because they have to click buttons instead of filling out forms.

To integrate WooCommerce Square, you need to create an account. Without an account, it is impossible to accept online payments. Benefits of using WooCommerce Square:

• accepting payment anywhere and at any time;
• PCI compliant without any security fees;
• quick transfer of funds to trading accounts.

For online transactions, a commission of 2.9% and $0.3 is charged. Fees vary by country.

The Amazon Pay plugin is easy to install in the WooCommerce online store. To use this payment gateway, you need to create an account. Reasons why Amazon Pay is popular for WooCommerce online stores:

• the ability to accept payments from Europe and the USA;
• free integration;
• no monthly payments;
• security of buyer and seller financial information.

This payment system is not free. Merchants pay a flat monthly fee of $25 and annual gateway plugin support of $79. You must have a merchant account on Authorize.net. Before you can use this payment method, the account must be linked to your WooCommerce. Features of this payment system:

• commission of 0.3 USD and 2.9% for each transaction;
• $0.10 payment gateway fee per transaction;
• accepting all types of payments, including payments by electronic checks and payments via PayPal;
• accepting payments from all over the world;

among WooCommerce payment methods, this is one of the most secure methods.

You can integrate an online payment form into the checkout page of your WooCommerce online store. This payment gateway allows you to accept payments from any country and supports over 100 currencies. Cooperates with banks of the European Union, Ukraine, and Great Britain. In addition, it is always expanding its presence around the world. The main advantages of this system:

1. Support for recurring payments – regular debiting from the client’s card for subscription services.
2. Holding system – freezing money on the client’s card for up to 25 days. It is also possible to write off or return funds in 1 click.
3. Tokenization – automatic filling of customer card details upon re-entry
4. Roles system – the ability to create users with different access rights to your personal account.
5. Wide range of payment methods including credit cards, local payment methods, online banking, mobile payments, and payment links. It also offers marketplace solutions, Facebook payment, and more.

WooCommerce Recurring Payments (Subscriptions) is an extension for WooCommerce, a popular WordPress plugin, that allows you to create and manage subscription products on your WooCommerce-based website. With WooCommerce Subscriptions, you can set up various types of subscription-based products, including physical goods, digital products, services, and memberships. Let’s see how it works:

• Subscription Products. With WooCommerce Subscriptions, you can create products that customers can subscribe to. These products can be anything from physical goods that customers receive periodically (like monthly magazine subscriptions), digital products (like software licenses), services (like web hosting), or memberships (access to premium content on a website).
• Recurring Billing. When customers purchase a subscription product, they enter into a recurring billing cycle. This means that they are charged automatically at regular intervals (such as weekly, monthly, and yearly) without having to manually make a new purchase each time the subscription renews.
• Automatic Renewals. WooCommerce Subscriptions handles automatic renewals, ensuring that customers’ subscription services or access to products are uninterrupted as long as their payment methods are valid and funds are available.
• Customer Management. The extension provides a dashboard where both customers and store administrators can manage subscriptions. Customers can view their active subscriptions, update payment methods, and cancel subscriptions if they wish.
• Trial Periods and Discounts. WooCommerce Subscriptions also allows you to offer trial periods to customers before they start getting charged, as well as set up discounts for longer subscription durations, encouraging customers to subscribe for a longer term.
• Integration with Payment Gateways. Subscriptions integrate with various payment gateways to handle recurring payments securely. Popular payment gateways like PayPal and Stripe support recurring payment functionality.

This functionality is incredibly useful for businesses that offer products or services on a subscription basis. It simplifies the payment process for customers and ensures a predictable revenue stream for businesses.

We, as online store development specialists, recommend implementing several options for WooCommerce payment methods. E-commerce stores with more payment options are more popular for customers, as they can choose a convenient payment option. If you want to integrate different payment methods into your online store, contact our WooCommerce development company. Our specialists will analyze the project and recommend a profitable option. Make your store as functional and convenient as possible with the help of our WordPress development company!