You’re ready to launch your online shop – you have stunning product photos, compelling descriptions, and the WooCommerce plugin to make it all run smoothly. However, before you can hang your virtual open sign, you need to set up a payment gateway. There are many options to choose from, and it can be hard to determine which one is right for you.
In this post, we’ll explain what a payment gateway is and give you our top five recommendations for WooCommerce payment gateways. Let’s get started!
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What Is a Payment Gateway?
A payment gateway is the technology that enables you to accept credit, debit, or other forms of payment on your e-commerce site. It plays a vital role in transactions and your customers’ buying experience, so you’ll want to select the one that’s the best fit for your business.
As you’ll see, each payment gateway has different benefits or specializations which may make it more advantageous for certain types of businesses. Whether it’s a focus on new technologies or simply name recognition, each has something to offer.
Once you choose a gateway, you’ll need to create an account so you can connect it to your WooCommerce store via a plugin. It’s also important to note that you can install multiple gateways if you feel it will be beneficial to your business.
The Top 5 WooCommerce Payment Gateways We Recommend
We’ve been helping small businesses like yours move into the online marketplace for 10 years with more than 3,600 website projects. That number represents a lot of clients, and a lot of payment gateway integrations. We know what works well, and why. Here are the top 5 solutions we recommend.
Our Ranking Summary:
- Stripe: A robust, technology-driven solution that offers in-person payment options and expansive currency support.
- Autorize.net: A reputable, premium solution with a reputation for advanced security and fraud prevention.
- Braintree: A PayPal platform that accepts credit card payments, Apple Pay, Google Pay, Venmo and more.
- Fiserv (First Data): A premium solution that offers hosted checkout, subscription payments, and pre-orders.
- PayPal: A widely recognized, secure platform your customers may already be using.
Stripe is one of the default payment gateways for WooCommerce. Along with major credit cards, it accepts Apple Pay and Google Pay. Additionally, it can process more than 135 different currencies from around the world. Plus, if you want to also accept payments in person, you can do so using one of Stripe’s Point Of Sale (POS) devices.
Although you can integrate it with your website for free, Stripe (like all payment gateways) charges payment processing fees. You’ll have to pay 2.9 percent of each transaction plus an additional $0.30. While this may seem like a lot, it’s actually the industry standard.
Authorize.net is a well-known payment gateway with an established reputation for fraud prevention. It accepts all major credit cards, PayPal, Apple Pay, and e-checks. It also enables you to set up recurring payments for subscriptions.
Unfortunately, this gateway is on the pricey side. There is no setup fee to create an account, but it does cost $25 per month to maintain. You’ll also be charged the standard 2.9 percent + $0.30 on every transaction, and the WooCommerce extension you need to integrate it with your site is $79 per year.
That said, Authorize.net has a stellar reputation for security. Despite the additional costs, it’s a solid company you can trust with your customers’ data.
Braintree is a partner of PayPal. It accepts all major credit cards, plus Apple Pay, Google Pay, PayPal, and Venmo as well as ACH direct debit. You can integrate it with your site with a free WooCommerce extension, and it enables recurring billing and express checkout via PayPal.
As far as your merchant expenses go, you’ll be responsible for the standard 2.9 percent + $0.30 on every transaction. In order to access all of this gateway’s available features, you may also need to upgrade your PayPal account.
4. Fiserv (Formerly First Data)
First Data is now Fiserv, combining the two companies into one global financial technology solution. With the WooCommerce First Data payment gateway extension, you can accept all major credit cards, recurring subscriptions, and pre-orders.
Since the merger, the payment gateway looks to grow with new technologies and expanded financial services. It also offers hosted checkout, which can help prevent complex e-commerce features from slowing your site down.
There is a free Payeezy WooCommerce plugin that will integrate your site with Fiserv. However, we recommend you pay the $79 per year for the premium WooCommerce First Data extension for better service offerings and reliability.
You’ll have to pay the standard 2.9 percent + $0.30 per transaction as well.
5. PayPal Standard
Around 27 million merchants use PayPal, a name with baked-in familiarity and trust. Many individuals have PayPal accounts, too, since the service enables you to receive and send payments with ease.
PayPal is the other default payment gateway for WooCommerce, so it doesn’t cost anything to integrate it with your website. Your merchant fees will be 2.9 percent + $0.30 on each transaction.
If most of your transactions are under $10, consider PayPal Micropayments. It has a higher transaction rate but lower fixed fee of 5 percent + $0.05. You’ll have to apply, and it’s subject to approval, but this may save you money if you carry out a lot of small transactions.
Read our Stripe vs. PayPal comparison if you're looking for more detailed information.
Payment gateways play a crucial role in your online checkout process and e-commerce website project. An obstacle here may lead to abandoned shopping carts, frustrated customers, or lost sales. Choosing a reputable and reliable platform helps create a stellar customer experience.