Do you want to
integrate different woocommerce payment gateways to optimize your online store
checkout process?
Collecting payment
from customers is one of the important aspects of the ecommerce industry.
Earlier Credit/Debit card, Cash was considered the most convenient mode of
payments by every ecommerce website. But after the launch of advanced payment
gateways, shoppers have started to expect these online gateways while making
their payment.
With the wide range of
online gateways available that are chances of selecting the wrong gateway which
can plummet your sales. Woocommerec allows you to easily integrate all the
major online payment gateways to offer the best customer experience.
It is recommended to
identify different woocommerce payment gateways so that you can easily fight
out the best online payment gateways for your and your customers.
In this article, we
will help you to determine different payment gateways that you can integrate
into your WooCommerce store to optimize your checkout process. We will also
help you to identify how you can select payment gateways for your ecommerce
store.
If you are looking to
know the best woocommerce plugins for your woocommerce store then check our
blog on 20
Best WooCommerce Plugins (2020) Every Ecommerce Website Should Use
What is the payment gateway?
Payment gateway refers
to the merchant services that authorizes and processes credit card or direct
payment for online businesses, e-stores, and more. Payment gateways can be
offered by the bank as well as financial service providers to the ecommerce
website or online business with the goal of allowing their customers to use the
online gateway to make payment and purchase the product.
Breaking it to a more
similar payment gateway is a term that allows shoppers or customers to make the
payment for the goods and services using different payment gateways like
stripes, PayPal, and more.
Every payment gateway
company has predetermined terms and fees, just you have to create the account
to offer the best customer experience to your shoppers. You can always reach
out to the popular payment gateway companies like PayPal, stripes, amazon pay,
apple pay, and more to know the account creation requirement, terms, and
fees. Why? Because different payment
gateways offer multiple options based on transaction type, account type, or
redirect type.
Direct Vs Redirect Gateway
Before selecting any
payment gateway for your website it is recommended to get detailed information
about payment gateway so that you can end up selecting the best online gateway
for your ecommerce store.
The payment gateway has mainly two types:
- Direct gateway
- Redirect Gateway
Redirect Gateway
Redirect Gateway is
one of the widely used gateways where a customer or shopper has to leave the
checkout page to pay the desired amount. They are redirected to another page
where they have to make payment by selecting a mode of payment. Most of the
time customers or shoppers are redirected to the payment gateway service
provider site that manages the gateway.
Direct Gateway
The direct gateway
allows shoppers to make the payment within the site that means your shopper
doesn’t have to leave the website to make the payment.
Compared to the direct
gateway, redirect gateways are the most preferred by the online store owner
because of its secure environment. With so many vulnerabilities around chances
of getting your website hacked increase which could directly risk your customer
account as well as payment details.
On the other hand,
redirect-gateway takes the customer to a secured external page where the
chances of the data leak are no to very less. But here is the thing most of the
time customers don’t understand why your website is redirecting then it is an
external page which makes them feel uneasy.
So if you are using
redirect-gateway then make sure that while redirecting you display a message in
front of your customer stating that “ you are redirecting to a more secured
environment”.
Or you can choose a
direct gateway for processing your payment but make sure of your site security
so that your customer information doesn’t get onto the other hand.
How to select the best payment gateway for the ecommerce website?
Today the ecommerce
industry is all about offering the best customer experience to customers. Most
of the time customers abandon the checkout page because they fail to find the
desired payment options.
Credit and debit cards
are the most common way to make payment and buy the product but Other than that
there are other advanced options available like cryptocurrency, bank transfer,
and more. No matter what type of payment option you are using, almost every
online payment is done using the payment gateway.
Integrating payment
gateway in your woocommerce store also increases your website payment security.
Today’s payment gateways are more secured as it protects your customer’s
information reducing chances of unwanted vulnerabilities. But again with the
wide range of payment gateway options available you can not pick any random
online gateway for your website.
Below we are listing
points that you can consider while selecting the payment option for your
website.
Fees/Cost Involved
One of the important
aspects that you should consider while selecting the payment gateway for your
website is the costing and fees involved after and before integrating the
gateway. Determining these costs and fees before purchasing payment gateway
will help you to differentiate and find the best online gateways having less
transactional fees and purchase fees. Read
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