WooCommerce has managed to become one of the most commonly used plugins in the world. The plugin is used to simplify eCommerce and digital sales due to a number of reasons. Firstly, the plugin adds a ton of functionality to WordPress websites. Secondly, WooCommerce is completely free, and thirdly, WooCommerce is compatible with a number of payment gateways.
In today’s article, we will review the options and determine the most compatible payment gateway for WooCommerce. But before we answer that question, let’s start from the basics.
What is WooCommerce?
WooCommerce is a popular WordPress plugin used to simplify eCommerce. The plugin is used by millions of people to create eCommerce stores on WordPress. WooCommerce does not require advanced technical knowledge and helps people create stores in a simple way.
The plugin includes inventory management, billing, and commerce features that help businesses manage digital sales. However, the most useful feature of WooCommerce is considered to be the payment gateway.
The payment gateway allows customers to make payments for products on the website. The gateway receives payment using credit cards and other methods and allows customers to get their desired products. Businesses can use the payment gateway through a simple plugin on WordPress.
WooCommerce offers options to manage eCommerce for businesses of all sizes. With advanced plugins and features, WooCommerce can be customized to serve as a dedicated digital store. Advanced options on WooCommerce include shipping, taxation, and returns management in a single interface.
Whether you’re choosing any payment gateway, it is important to review some key factors before you make your final decisions.
Factoring to Decide the Payment Gateway for Your WooCommerce Store
The best payment gateway for your WooCommerce store will depend on your business requirements. The good news is that you have the ability to choose from a number of different options. However, before making your final decision, consider the following factors to get to the right decision.
Transaction Fees
Every WooCommerce payment gateway charges an embedded transaction fee on your purchase. These fees are generally applied in the following ways.
- Percentage-based Fee – These fees are charged as a gross percentage of the transaction amount. In the current range of providers, these fees range between 2.5% and 3.5% depending on the gateway. A lower percentage fee is best for high business profits and long-term sustainability.
- Flat Transaction Fee – These fees are charged as a fixed amount regardless of the transaction amount. In most scenarios, this fee is usually around $0.30.
Even though there are differences in the way payment gateways charge fees, most fees are dependent on other factors, including transaction type, payment method, and billing nature.
Currency Conversion
Currency conversion is a critical factor in international transactions. Your chosen WooCommerce payment gateway should simplify currency conversion by keeping the process affordable. Make sure you avoid gateways that charge high currency conversion fees. In unpopular options, the currency conversion charges can be as high as 5%.
Simplicity of Usage
User-friendliness can make a massive difference when it comes to payment gateways. Some gateways are easier to use than others due to their streamlined design and interface. Oceanpayment is currently considered to be the most user-friendly option. An intuitive user interface can make it easy to manage your e-store and handle payments without needing to have advanced coding and programming knowledge. Today, digital consumers are of all ages. That is why it is important to design a user-friendly interface that can be used by all customers.
Payment Security
When you’re deciding on your payment gateway, payment security is a critical factor. If your WooCommerce payment gateway is not secure, you’ll increase the risk of exposing your store and customer to data loss and scams. However, the good news is that most WooCommerce plugins are protected from threats if you install them accurately. Different plugins available in the market offer additional protection to customers. Without payment security, critical customer data can be exposed or leaked. It is important to go with a reliable payment provider to prevent this situation and have trust.
Conclusion – Making the Final Decision
It can be challenging to make your decision due to a large number of payment options currently available in the market. The right payment gateway depends on your personal requirements and business needs. In the current landscape, Oceanpayment has emerged as a standout option in the market. The payment gateway was amongst the first in the global market and is trusted by thousands of businesses and customers. With features like email invoicing and faster payment management, the gateway simplifies the process significantly.
While making your decision, make sure you work with a professional company to help you through the process. Oceanpayment offers advanced payment solutions and assistance to help you navigate through the challenges. With an experienced management team, we’ve worked with industry-leading companies to help them process payments.
Key Features of Oceanpayment Gateway
Oceanpayment offers a ton of useful features to vendors. Here are some of the most popular features of the platform.
Transparent Pricing Structure
Oceanpayment simplifies payments by offering a simple payment solution. Users don’t have to worry about hidden fees and charges when they sign up for Oceanpayment. The platform is available on a simple plan that includes embedded support for the requirements of eCommerce stores.
Easy Integration
The payment gateway easily integrates with shopping carts and is compatible with most payment processors. Users are able to manage compliance and sales tracking in a simple interface to prevent complications and benefit from increased sales.
Global Trust and Repute
Oceanpayment is globally renowned as a trusted brand and has developed a positive reputation with customers. When users see the Oceanpayment logo on the website, they can be sure that their payment is being safely handled. Trust can also be a significant factor in decreasing cart abandonment and increasing user engagement.
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