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Best WooCommerce Payment Gateway Options for a Multi-vendor Marketplace

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Are you thinking of building the next Amazon, eBay, Shopify, or Alibaba? Well, who doesn’t like to chase their dreams and to be extremely rich? The multi-vendor marketplace on the WooCommerce platform can be a ray of hope for you if you are willing to own an eCommerce setup where different vendors sell their products/services just like Amazon and as an admin, you receive your payments for hosting them. 

With a multi-vendor marketplace, you host a small or large group of suppliers on your site, skipping the hassle of ordering and e-store inventory. All you have to do is manage the site and vendors deal with an inventory. But what about the online payment options? Its security and transparency? Payment split between you and vendors? Conflict and fraud management? Here come the best WooCommerce payment gateways for a multi-vendor marketplace.

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What Is A Payment Gateway And How Does It Work?

A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit/debit cards or direct payments processing for e-businesses, online retailers. Payment gateways act as channels between an eCommerce store and the bank that supports (or declines) a client’s credit card/debit card payment. Payment gateways allow customers to pay for goods and services using a payment system such as PayPal, Square, Stripe, and many more.

Contact the Payment Gateway company directly, with questions about account requirements, terms, and fees. Some have multiple options based on different account types, transaction types, or redirect methods, such as PayPal and Authorize.net.

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Why Is It Secure To Use A Payment Gateway For Online Payments?

Let’s talk a little about payment 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. The Payment Card Industry Data Security Standard (PCI DSS) is a system of standards put in place to uphold security provisions for the electronic world. Before you pull the trigger on a gateway, double-check that they maintain PCI compliance. These are standards put in place to protect customer data and payment information. 

After knowing about the multi-vendor marketplaces and payment gateway in detail, let’s discuss some of the best Woocommerce payment gateways for multi-vendors.

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Best Woocommerce Payment Gateways For Multi-vendors

#1 WooCommerce Marketplace PayPal Commerce: 

This plugin enables the admin to integrate the Marketplace PayPal Commerce payment method to their WooCommerce stores. The customers can use their PayPal account for making the payment for any purchase. The admin can also process the refund for the customers; the refund will transfer to the PayPal account directly. The module supports the split-cart functionality for the ease of a proper share of the payment. The customer will experience the most secure and quick payment methods. The seller and the customer both can check the transactions under the activity tab on the PayPal dashboard.

Payment Gateway Fees:

PayPal transaction fee of 2.9% plus 30 cents. 

Currency Types

PayPal accepts 25 currencies, including USD, GBP, AUD, and CAD, etc.

Working Countries:

PayPal supports businesses in more than 200 countries.

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#2 WC Vendors Stripe Connect:

Automate your marketplace and save time with WC Vendors Stripe Connect. Use Stripe’s Connect platform to process credit card payments and pay your vendor commissions automatically. Stripe is an affordable payment processor available in 30 plus countries. It has low fees, is easy to set up and easy to use for vendors and customers alike. WC Vendors Stripe Connect works with WC Vendors Marketplace or WC Vendors Pro.

Payment Gateway Fees:

There’s no monthly fee, but there is a transaction fee of 2.9% and 30 cents. 

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.

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#3 Square Payment Gateway for WC Vendors:

This plugin integrates Square Payment Gateway with WC Vendors allowing admin to connect a Square account and authorize a Vendor through Square application settings. Admin and Vendor can split payment and give each other dues separately. It also enables the vendor to connect to the Square account by clicking on the authorize option.

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.

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#4 Marketplace DIBS Payment for WooCommerce:

Marketplace DIBS Payment for WooCommerce is one such extension that facilitates the admin of the store to integrate the DIBS Payment Method for an easier split of the order’s payment amongst the admin and the sellers. Admin and the seller receive the commission directly in the DIBS Account. The DIBS payment gateway offers its customers an effective solution for payment which adds to and makes the payment process hassle-free and for the customers. All sensitive data is handled in accordance with the requirements defined by the Payment Card Industry Data Security Standard (PCI DSS).

Currency Types:

DIBS can take payment in the following currencies: Danish Krona, Euro, US Dollar $, English Pound £, Swedish Krona, Australian Dollar, Canadian Dollar, Icelandic Krona, Japanese Yen, New Zealand Dollar, Norwegian Krona, Swiss Franc & Turkish Lira.

For more info about DIBS click here

marketplace-dibs-payment-for-woocommerce

#5 WooCommerce Marketplace Mangopay Payment: 

Marketplace Mangopay Payment Gateway for WooCommerce plugin is an ideal end-to-end payment solution for the marketplace owners and sellers as it enables the platforms to accept online payments through multiple methods, including cards and direct debit. Multi-Vendor Mangopay Payment Gateway for WooCommerce will split the payment to multi sellers. Mangopay can hold the fund (escrow) on segregated accounts, in trust. Furthermore, it fully automates the payouts.

Payment Fees:

For details click here

Working Countries: 

For further details click here

Currency Types:

Euros – EUR, US Dollar – USD, Australian Dollar – AUD, Canadian Dollar – CAD, Hong Kong Dollar – HKD, Japanese Yen – JPY, United Arab Emirates Dirham – AED, South African Rand – ZAR,  U.K. Pound sterling – GBP, Switzerland Swiss Franc – CHF, Swedish Krona – SEK, Norway Crown – NOK, Polish zloty – PLN, Danish crown – DKK, and Czech Koruna – CZK

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#6 Square Payment Gateway For Dokan: 

Dokan is the best front end multi-vendor marketplace plugin on WordPress, powered by WooCommerce. It is the fastest way to start eCommerce and earn through commissions with products ranging from digital, physical to variable products. Square Payment Gateway For Dokan integrates Square Payment Gateway with Dokan Multivendor Plugin which splits payment between admin and vendor and gives each other dues separately. Also, allow the vendor to connect to the Square account by clicking on Authorize.

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.

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#7 YITH WooCommerce Authorize.Net Payment Gateway:

Authorize.net is a payment gateway that provides you swift, trustful, and secure transmission of transaction data. This module enables you to set custom text for the order button and select the type of cards (Visa, MasterCard, American Express, etc) to be displayed on your Checkout page. you can integrate this payment gateway to your themes, without you to get stressed for the difficult task of connecting a website to the payment processing networks. 

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.

yith-woocommerce-authorize.net-payment-gateway

#8 Square Payment Gateway for WC Marketplace:  

WC Marketplace is a free marketplace plugin with highly robust and top-notch selling features. Think of any eCommerce based multi-vendor marketplace and you can recreate the same with WC Marketplace. You can own an online eCommerce store setup, where multiple merchants, vendors, traders, or sellers can sell goods or services to customers in no time. Square Payment Gateway for WC Marketplace integrates Square Payment Gateway for WC Marketplace which is featuring that the admin can connect a Square account and Authorize a Vendor through Square application. Admin and Vendor can fetch their split payment separately through Square. It also provides the functionality that the Vendor can connect to the Square account by clicking on “Authorize” in the Vendor profile page.

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.

Square Payment Gateway for WC Marketplace

CONCLUSION: 

We have discussed some of the top WooCommerce payment gateway solutions for multi-vendor marketplaces. These payment gateways provide convenient, secure, and fast transaction services to sellers and vendors.
You can also read Best WooCommerce Payment Gateway.

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