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So you've finally decided to create your online store using WooCommerce?
If so, then you have just passed one of the decision-making stages for your business. You will also be faced with the difficulty of choosing your payment gateway. It is not always easy to choose among the best payment gateways for WooCommerce. especially if you are just starting out in the online sales business.
There are many different payment methods in e-commerce, and it can be quite complicated to find your way around them all.
Find out, in this article, the best payment gateways for WooCommerce.
Let's start with the basics.
In simple terms, a payment gateway is a set of technologies that allows a person to purchase items from a merchant's store and pay with their credit card or any other online payment method .
In other words, the payment gateway is the system that allows a merchant to receive payment from a buyer. Payment gateways are used in both online and traditional stores.
Before we get into the best payment gateways for WooCommerce, let's first learn about the types of payment gateways.
In the sales process, the more you simplify the steps for your prospect, the more likely you are to convert them.
There are two categories of payment gateway:
Self-hosted payment gateways are directly integrated on your store. This means that when a buyer wants to make a payment, they are not redirected to another page that is outside of your website, whereas hosted payment gateways are directly attached to the vendor's site.
Indeed, every time a buyer wants to proceed to a payment, he will be redirected to an external page where he will enter his credit card information . This can be a bad experience for the user.
The other difference with these payment categories is that additional fees may apply depending on the provider for self-hosted gateways.
The number of payment methods to install on your WooCommerce store depends on your audience.
In reality, each of the best payment gateways for WooCommerce has a specific geographic coverage area.
Indeed, if you want to sell or target only one country, there is no point in installing a payment processor that does not work in that country, even if it is among the best payment gateways for WooCommerce.
You must therefore first identify the payment processors that are used by your customers.
Furthermore, it is recommended to install at least 2 payment gateways on your online store. These two payment systems should be among your target's preferred payment processors.
At the same time, installing too many payment solutions can also put the prospect in a bind. This can delay his buying decision and lead to abandoned carts.
Now let's find out the best payment gateways for WooCommerce that you should install on your store.
If your store is on Shopify instead, you can also check our list of Best payment processors for Shopify
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There are several payment processors that are compatible with WooCommerce. Although all of these payment methods have the same working principle, they differ in their features, geographical coverage and price.
Here's our list of the best payment gateways for WooCommerce:
PayPal is one of the oldest payment gateways on the Internet. With more than twenty years of experience, PayPal has had time to establish itself on all social strata and in several countries.
This payment method is available in over 200 countries worldwide and accepts payments in over 20 currencies .
For purchases on the Internet, buyers most often use PayPal or a credit card directly. By installing PayPal on your store, you are sure to receive payments from your customers safely.
It is also very easy to use, which significantly improves the conversion rate compared to other payment gateways for WooCommerce. All the buyer has to do is click on the "Buy" button and enter their PayPal account login information.
As a seller, PayPal provides you with a dashboard to track your finances. You can export all this data in PDF, CSV, TAB or QuickBooks format to keep track of your finances.
PayPal's transaction fees range from 1.20% to 3.40% with a flat fee of $0.30 .
Feel free to check out this article to learn how to integrate PayPal on WooCommerce.
Stripe is an online payment system that allows you to receive credit card payments on your store. The system supports almost all credit cards.
This is a self-hosted payment gateway, which means that the buyer will not be redirected to a new page outside of your store before they can make a payment.
This greatly improves the customer experience and consequently your conversion rate.
The payment gateway is available in 26 countries and accepts payments in over 130 currencies .
Transaction fees are 4% tax + 0.25 cents for European cards and 9% tax plus a fixed commission of 0.25 cents for non-European cards.
You can easily integrate it into your WooCommerce store with the various extensions available.
Find out how to integrate stripe on WooCommerce here.
Alipay is an online payment gateway developed by Chinese e-commerce giant Alibaba. If you want to sell products in a Chinese market, AliPay is inevitably the payment gateway you must have on your WooCommerce store .
It allows you to pay in Chinese currency and thus opens the door to more than a billion Chinese consumers. The payment gateway is very easy to install thanks to its WooCommerce extension.
AliPay can be used in many countries, but especially in the Chinese market. Buyers can pay with a credit card or directly with their AliPay account.
In addition, the transaction fee is 0.55% per transaction.
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Amazon Pay is a payment gateway deployed by Amazon. It is a payment processor that allows buyers to pay directly with their Amazon account. This first creates a certain amount of trust with the buyer, as they will no longer be required to enter their credit card information .
In dropshipping, one of the causes of abandoned carts is that buyers want to keep their cards confidential and are therefore reluctant to enter their data on sites whose security they do not control.
However, having a payment processor like Amazon Pay on your store is clearly a sign of trust you are sending to the buyer.
This gateway integrates easily on WooCommerce with its free extension. All this makes it one of the best payment gateways for WooCommerce .
The service also supports multiple currencies, as well as Amazon's sophisticated anti-fraud technology.
Transaction fees consist of a processing fee (3.4%) and an authorization fee of €0.25 .
Apple Pay is also a payment gateway for WooCommerce that works like Amazon Pay. It was designed by the Apple brand and is especially dedicated to iOS users.
Apple is known for their strong security system, which makes users feel even more confident. The payment processor integrates easily on WooCommerce using Stripe.
With just one click, the buyer can proceed to checkout. This greatly improves the user experience and significantly reduces abandoned carts.
As far as fees are concerned, Apple Pay does not charge extra for transactions . So you'll only have to pay the fees required by the card issuer.
In this article, we have discussed the best payment gateways for WooCommerce.
Indeed, to maximize the conversion rate on your online store, you must set up payment gateways that your customers use. So take the time to identify your customers and get an idea of their preferences in terms of payment methods.
It is also recommended to install at least two different payment methods to increase the conversion rate. Don't overdo it, because the more choices you give, the more abandoned carts you will have.
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