You need a payment gateway to finalize a transaction for your online store after a successful shopping experience.
As a WooCommerce user, you have numerous Woocommerce plugins available, with each solution having its strengths and weaknesses.
Choosing the correct payment gateway is crucial as it impacts your customers' satisfaction, your platform's sales performance, and the long-term success of your business.
A small amount of research can have a big impact.
This article discusses payment gateways, key factors to consider when selecting one, and the top WooCommerce payment options for 2024.
What is a Payment Gateway?
A payment gateway represents a kind of merchant software that enables the acceptance of online payments.
You'll find two categories of payment gateways – Redirect and Direct.
Redirecting Gateways
These Payment gateways redirect customers to the service provider's page, allowing them to finish the payment process there. While this simplifies your life by transferring some security duties, it also extends the payment procedure.
Direct Gateways
Financial transactions are done directly on your website by direct payment gateways. Many major eCommerce platforms (such as Amazon or Shopify) opt for this model due to its simplified process.
Nevertheless, opting for direct payment gateways such as WooCommerce multiple Stripe accounts entails the need to enhance your website's security measures.
Direct payment gateways are favored by customers. Making a payment on a new and unknown website can be unsettling and take people by surprise.
Usually, you aim for a smooth shopping experience on your website, and payment gateways are essential for ensuring this crucial aspect runs smoothly.
Factors to Consider When Selecting Payment Gateway WooCommerce Plugins
Every payment gateway has unique advantages compared to others. When determining the most suitable WooCommerce plugins for your business, there are several factors to take into account.
Ease of use
You need to select a payment service that meets the requirements of both you and your customers.
Certain gateways are limited to particular countries and have restrictions on accepted payment methods and currencies. If the majority of your customers are located in Asia, you will require a solution that is effective in that particular area.
Payment gateway services commonly feature the countries they cater to in their product descriptions. If you are unable to locate them on the internet, feel free to reach out to the seller via email for more information.
Expense of running operations
Prior to choosing a gateway, research for potential extra and concealed charges. The kind of transactions you make determines if a certain service is suitable for your needs.
For instance, some WooCommerce plugin payment gateways do not facilitate recurring or subscription-based payments.
Most of these services will require a transaction fee, typically ranging from 2.5% to 3.5% per transaction.
Nevertheless, certain platforms impose extra fees for currency conversions, cross-border transactions, regular payments, or just monthly charges.
Take into account those additional charges beforehand, particularly if you are on a strict budget.
User experience
Another important aspect to take into account is the interface of the payment gateway.
You have already devoted a lot of energy to guiding your customers from one page to the next, ensuring that your online store is as efficient and user-friendly as it can be.
The final stage is the payment, and it requires careful handling.
Discovering a payment gateway that aligns with or surpasses your website's UX/UI instills a sense of security in the customer and seamlessly completes the purchasing process.
Fortunately, you are able to customize many payment gateways associated with WooCommerce, such as the WooCommerce QuickBooks Gateway, which allows you to integrate them seamlessly with your website.
Safety and protection
Security plays a crucial role in all payment services. You definitely do not want to expose your customers and business to cyber-attacks without adequate protection, as this can result in legal, technical, or financial complications.
The risks are always evolving. If you choose direct or redirect service, you must have top-notch security.
Fortunately, all reputable payment gateways comply with PCI security standards. You can further improve your security by taking additional safety measures, such as installing an SSL certificate.
The Best WooCommerce Gateways to Try in 2024
WooCommerce Pinpayment Gateway
You have the option to utilize the Australian Pin Payments, as your credit card processor for Woocommerce without needing a bank merchant account by using the WooCommerce Pinpayment Gateway extension.
Configuration
1) Go to 'WooCommerce > Settings > Payments' on the menu.
2) Choose Pinpayment from the list of options in the Payment Gateways menu.
3) Turn the "Enable/Disable" button to turn on the gateway.
Setup Requirements
●You must ensure that the WooCommerce Pinpayment Gateway is installed.
● To ensure the payment process functions correctly, make sure to log in and set up your Pinpaymant account accurately.
WooCommerce Multiple Stripe Accounts Payment Method
WooCommerce Multiple Stripe Account simplifies the process of accepting credit card payments.
WooCommerce's multi-stripe plugin enables the creation of multiple accounts on a single website. It is useful when your webstore supports multiple currencies.
A plugin might be necessary to specify the payment gateways available for each enabled currency.
Features:
● Supports the primary credit cards available in the US, such as Visa, Mastercard, American Express, Discover, and JCB.
● Receive payment on your website. Customers are not required to be redirected to the Stripe Payment page in order to make a payment.
● Enables automatic refunds.
WooCommerce eWay Rapid Gateway
The WooCommerce eWay Rapid Gateway integrates Eway's credit card payment gateway via Rapid API Direct Payments.
You must set up the WooCommerce plugin. If you don't set up the eWay Rapid Plugin correctly, the payment process won't function correctly.
Features:
● Basic validation of data is done prior to submission to Eway
●Eway transaction ID and bank authorization code are saved for successful transactions.
●Provides authorization (PreAuth) for drop-shipping vendors / postponed invoicing
● Backs Beagle's fraud prevention efforts (for supported plugins)
WooCommerce QuickBooks Gateway
Accept credit card payments on your WooCommerce online store through QuickBooks Payment.
WooCommerce QuickBooks Gateway offers a simple and cost-effective alternative for a small business.
Features:
● Smoothly incorporate into the WooCommerce Checkout Page
● Customers remain on your website during the purchasing process.
● Insert a personalized title for the gateway.
● Include a personalized description for the gateway.
● Enables refunds directly from the Edit Order Page.
● Enables you to choose the types of cards that are compatible with your account.
The SSL Certificate must be installed on your site for this Gateway Implementation to work.
Wrapping up
The payment gateway you choose becomes an essential part of your WooCommerce store. Whether you select Stripe Gateway or WooCommerce eWay Rapid Gateway ensure to check all the pre-requisites.
