Are you thinking about starting an online business using WooCommerce and want to know in detail about payment gateway options and how they can provide the best service to you and your customers?
Some of the most important questions when choosing the right payment gateway for a website include: Does the gateway support the countries and the currencies where I do business? What are their service costs? What additional fees do they impose? What are their terms of service and other contractual requirements?
Continue reading to find out the 9 best payment gateway extensions for WooCommerce. These extensions were judged on the basis of their usability, easy functionality, and fulfillment of purpose. We have also mentioned their service fees, names of the countries/regions they’re available in, and the currency types they support.
WHAT IS A PAYMENT GATEWAY AND HOW DOES IT WORK
According to Wikipedia, 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. You can accept payments from your customers anywhere in the world and provide them a refund using the same service as well.
Payment gateways act as a channel between a WooCommerce store and the bank that supports (or declines) a client’s credit card/debit card payment. By using a payment gateway, you can accept credit card or debit card payments by transferring money between your merchant account and a payment processor through a credit card/debit card terminal or processor.
Let’s talk a little about security. Payment gateways are responsible for ensuring that your customer’s payment details (such as Credit Card Numbers, Expiry dates, and CVV/CVN numbers) are securely transmitted to the relevant payment processor. It is the last step for an online selling process on a WooCommerce store. Without it, you can’t have the option to charge your customers when they purchase goods or take your services from your online business.
There are three types of payment gateways: Redirects, checkout on site, payment off-site, and on-site payments.
WHY CHOOSING THE RIGHT PAYMENT GATEWAY IS CRUCIAL FOR THE SUCCESS OF YOUR ONLINE BUSINESS.
Payment gateways play a pivotal role in the online payment ecosystem that empowers all your credit card transactions through your credit card provider.
Since we are living in a digital age and every newly fashioned business or startup is aligned with the eCommerce industry, having a fast and reliable payment gateway is now more crucial than ever before.
WooCommerce enables store owners to add products, digital goods, and even subscriptions (depending on the WooCommerce extensions you have installed). But for all the excellent features WooCommerce includes, there are only a few default built-in payment options. Lucky for you, there are several WooCommerce payment gateway options you can add to offer customers new checkout options. Let’s discuss a few best payment gateway options for your WooCommerce store.
9 BEST PAYMENT GATEWAY EXTENSIONS FOR WOOCOMMERCE:
#1 PAYPAL PRO:
PayPal is one of the most trusted companies when it comes to processing payments. It boasts over 267 million customers, supports over 20 currencies, and it’s incredibly easy to use if you’re purchasing something. PayPal Pro payment processing service, which helps customers with and without accounts on the platform.
You can use PayPal Pro to process credit card payments and purchases made with user balances. PayPal Pro also enables you to customize your store checkout process, making it as intuitive as possible. Once the money from your sales hits your account, you can withdraw it to your bank or store it in your account’s Wallet. As far as WooCommerce stores go, there’s no reason why you shouldn’t include PayPal pro as part of your payment processing options. Plus, there are plenty of plugins you can use to integrate it painlessly with your store.
Payment Gateway Fees: PayPal Pro uses the direct method and can handle regular product sales, but can’t process recurring payments such as subscriptions. It also costs $35 per month, and there’s a PayPal transaction fee of 2.9% plus 30 cents.
Currency Types: PayPal Pro accepts more than 20 currencies, including USD, GBP, AUD, and CAD, etc.
Working Countries: PayPal Pro supports businesses in more than 200 countries.
#2 STRIPE:
The Stripe payment gateway for WooCommerce lets you accept payments directly onsite, and includes the option to offer Payment Request buttons (such as Apple Pay and Google Pay), iDeal, SEPA, SOFORT, and more international payment methods. Stripe processes all major credit cards and debit cards. Plus, it also accepts Apple Pay, and customers can save their payment details (Recurring Payments).
Payment Gateway Fees: There’s no monthly fee, but there is a transaction fee of 2.9% and 30 cents. They also have a fraud prevention product called Radar. Unlike PayPal, if a customer disputes a charge, it sets you back $15, but if you win, you get this fee refunded.
Currency Types: you can accept all major debit and credit cards from customers in every country in 135+ currencies.
Working Countries: Stripe is available to businesses in 40+ countries.
#3 SQUARE:
Square is helping more than two million businesses to accept fast, reliable, and secure payments anywhere, anytime. Square accepts all major types of credit cards, and it offers faster deposits than some competitors, such as PayPal. If you compare Square with Stripe, then Stripe is a developer-friendly payment processing solution best for online businesses wanting to add a customizable checkout to their website. Square is an out-of-the-box point-of-sale (POS) and payment processing platform that’s best for small businesses needing an all-in-one solution. Square accepts all major credit cards. (Available in the U.S, Canada, Australia, UK, and Japan.)
Payment Gateway Fees: Pay 2.75% (2.65% for CA, 1.9% for AU, 1.75% for UK, and 3.25% for JP) per in-person transaction and 2.9% + $.30 (2.9% + $.30 for CA, 2.2% for AU, 2.5% for UK, and 3.6% for JP) for online transactions.
Currency Types: US Dollar, Canadian dollar, Australian Dollar, UK Pound, and Japanese Yen (Note: Square accepts all major credit cards.)
Working Countries: U.S, Canada, Australia, UK, & Japan.
Please also check for these handy plugins: WooSquare Plus (Square for WooCommerce), and WP EasyPay (Square for WordPress).
#4 WOOCOMMERCE PAYMENTS:
WooCommerce Payments is a newly launched payment gateway that is exclusively designed for WooCommerce stores. With WooCommerce Payments, you can view and manage transactions from one convenient place, your WordPress dashboard. It securely accepts major credit and debit cards and increases conversions by allowing customers to pay you directly without leaving your store.
Payment Gateway Fees:
- No setup fee
- No monthly fee
2.9% + 30¢ per transaction for US-issued credit or debit card +1% for transactions paid using a card issued outside the US. $15 fee per dispute (refunded if you win the dispute).
Currency Types: You can accept payments from customers anywhere in the world at USD.
Working Countries: 200+ Countries.
#5 WOOSQUARE PLUS:
WooSquare allows your customers to pay with Square at WooCommerce checkout. With this plugin, you can even manage refunds between WooCommerce and Square. WooSquare Plus is a powerful and secure automation solution that helps Square users to easily synchronize their online stores based on WooCommerce with Square platform.
A few of its features include Customer Synchronization, Order Synchronization, Product Synchronization, Auto-Inventory Sync, Custom Transaction Notes, and Save Cards on File.
Payment Gateway Fees: Pay 2.75% (2.65% for CA, 1.9% for AU, 1.75% for UK, and 3.25% for JP) per in-person transaction and 2.9% + $.30 (2.9% + $.30 for CA, 2.2% for AU, 2.5% for UK, and 3.6% for JP) for online transactions.
Currency Types: US Dollar, Canadian dollar, Australian Dollar, UK Pound, and Japanese Yen (Note: Square accepts all major credit cards.)
Working Countries: U.S, Canada, Australia, UK, & Japan.
#6 AMAZON PAY:
The Amazon Pay feature for WooCommerce enables a payment module that allows customers to check out on your site using payment methods from their Amazon.com account. The Amazon Pay plugin for WooCommerce is free and easy to install. All interactions take place within secure widgets, so customers never leave the site. Customers simply log in using their Amazon account, select a shipping address and payment method, and then confirm their order. The Amazon Pay multi-currency feature is designed for international merchants who list prices in more than one currency on their website and charge their customers the exact amount quoted on the site. When you enable multi-currency, you aren’t limited by the currency associated with your Amazon Payments merchant account (the ledger currency in which you receive disbursements from Amazon Payments).
Payment Gateway Fees: Amazon Pay charges a domestic processing fee of 2.9% and an authorization fee of $0.30, plus tax where applicable.
Currency Types: Australian Dollar (AUD), British Pound (GBP), Danish Krone (DKK), Euro (EUR), Hong Kong Dollar (HKD), Japanese Yen (JPY), New Zealand Dollar (NZD), Norwegian Krone (NOK), South African Rand (ZAR), Swedish Krona (SEK), Swiss Franc (CHF), and United States Dollar (USD).
Working Countries: Austria, Belgium, Cyprus, Denmark, France, Germany, Hungary, Ireland, Italy, Japan, Luxembourg, Netherlands, Portugal, Spain, Sweden, United Kingdom, and the United States.
#7 APPLE PAY:
Apple Pay is a payment service and form of contactless payment offered by Apple. It’s available on supported iOS devices. It allows you to make payments in-store, on the web, and within apps. Overall, it provides a much faster way for Apple users to make purchases. Apple Pay removes several obstacles that iOS using customers face while checking out. Initially only available for the United States, the service is now available, among others, in France, the United Kingdom, and Switzerland. It is anticipated that Apple Pay will grow even further in Europe. You can enable Apple Pay WooCommerce payments through an integration with Stripe. Since payment data cannot be saved with Apple Pay, the Apple Pay button will only be available for one-time purchases; it cannot be used for recurring payments or a payment that’s saved and billed later.
Payment Gateway Fees: Apple charges 0.15% per transaction on US purchases.
Currency Types: Apple has partnered with the major credit and debit card companies in the United States: Visa, MasterCard, Discover, and American Express.
Working Countries: Apple Pay is available in more than 24 countries around the world.
#8 AUTHORIZE.NET
Authorize.Net makes it easy to accept credit cards and help ensure you get paid. It is one of the oldest and best-known credit card processors and a popular option among stores that process large amounts of sales. The Authorize.Net extension provides one of the most advanced integrations for WooCommerce while providing the security and reliability that comes with using Authorize.Net for payment processing. Let your customers save their credit cards and bank accounts to their WooCommerce account for fast and easy checkout. Accept international transactions from your online customers worldwide; Your business must be based in the United States, Canada, United Kingdom, Europe, or Australia. Authorize.Net has full support for WooCommerce Subscriptions & WooCommerce Pre-Orders.
Payment Gateway Fees: Authorize.net charges users 2.9% plus $0.30 per transaction, which is the standard transaction cost for most leading only card processors. International transactions have an additional 1.5% added on top of each transaction. On top of this, Authorize.net will charge you a $49 setup fee and a $25 monthly gateway fee.
Currency Types: US Dollar, Canadian Dollar, Euro, UK pound, Australian Dollar and Accepts all Major Credit Cards / Debit Cards – Visa, MasterCard, American Express, Discover, Diner’s Club, JCB
Working Countries: Accept international transactions from your online customers worldwide (200+) countries.
#9 WOOCOMMERCE SUMUP PAYMENT GATEWAY PRO:
(SIMPLE & RECURRING PAYMENTS)
WooCommerce Sumup Payment Gateway is an extension of WooCommerce and a WordPress plugin that allows users to pay for their subscription products. A simple product of WooCommerce on your site through the SumUp payment gateway. This add-on also supports multiple subscriptions at the same time.
Payment Gateway Fees: There are no monthly fees and no contractual obligations to SumUp. With SumUp, you only pay a set transaction fee based on the payment type.
Swipe, Chip, and Contactless: You’re only charged a transaction fee of 2.65% per card payment, which is directly deducted before the funds are transferred to your bank account.
Currency Types: US Dollar, Brazilian Real, Euro, UK Pound, and all major credit cards.
Working Countries: Austria, Bulgaria, Belgium, Cyprus, Czech Republic, Denmark Estonia, France, Finland, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland, United Kingdom, Brazil, and United States.
CONCLUSION:
We have discussed some of the best payment gateway options for your WooCommerce store in this article. We have rated these payment gateways according to their processing features, utility, transaction speed, security, working countries, and types of currencies handling.
Make sure to select the payment gateway that best caters to your business, region, and audience. Good Luck!
