WooCommerce Payments is a native payment solution that allows you to securely accept payments on your website and manage them directly from your WordPress admin dashboard. The WooCommerce store platform is used around the world, so we’re thrilled to announce that WooCommerce Payments is now available for stores in the U.K., Ireland, Australia, New Zealand, and Canada, in addition to the U.S.
Faster checkout = more orders
A disjointed checkout is one of the top three reasons for cart abandonment. Given the circumstances of 2020, eCommerce is more competitive than ever, and points on margin can make the difference between success and failure. Therefore, giving your customers the opportunity to pay you directly – without leaving your store – is a key benefit of using WooCommerce Payments. Shoppers can also save their cards on your store, for even speedier future checkouts.
Want to roll out the red carpet? Make checkout 60% faster (and double your own conversion rate) by accepting Apple Pay®. Add the Apple Button for one-click checkout.
Accept payments in multiple currencies
Grasp global opportunity. Whether you’re appealing to shrewd shoppers across the border or curious collectors from around the world, you can accept payments in over 100 currencies with WooCommerce Payments. This feature works with WooCommerce Multi-Currency, or your multi-currency extension of choice. Allow your customers to pay in their preferred currency, knowing their exact cost at the time of checkout. Learn more about currencies with WooCommerce in our documentation.
Earn recurring revenue
Do less, earn more? Recurring sales is the secret sauce for our most successful stores. Make it easy for your customers to pay in installments or automatically reorder their favorite products.
Let WooCommerce do the work for you – with WooCommerce Payments and WooCommerce Subscriptions, you can manage your subscription payments right from your store.
Automatic daily deposits
WooCommerce Payments automatically deposits your available balance into your nominated account daily, on a two-day rolling basis*. Keeping a tight schedule between earnings and deposits means you can do more on the fly. Check out our FAQs about deposits.
*Deposit schedule is dependent upon merchant geography.
WooCommerce Payments is a plugin designed specifically for WooCommerce stores to handle payment processing. It provides an integrated dashboard in your WordPress admin area, allowing you to manage transactions, track cash flow, and handle disputes directly from your site without redirecting to a third-party platform.
Here’s an overview of the WooCommerce Payments plugin:
1. Features of WooCommerce Payments:
- Integrated Dashboard: View payment details, filter transactions, track revenue, and handle disputes directly within your WordPress dashboard.
- No Redirection: Customers stay on your site during the entire checkout process.
- Support for Multiple Payment Methods: Accept major credit and debit cards.
- Instant Deposits: For a fee, get access to funds within minutes.
- Detailed Reporting: Access detailed reports on payments, deposits, and disputes.
- Built-in Fraud Protection: Benefit from machine learning algorithms to help reduce fraud.
2. Setting Up WooCommerce Payments:
- Ensure your WooCommerce store meets the requirements for WooCommerce Payments, such as geographic location (initially, it was available only to U.S.-based merchants but has expanded to other countries).
- Install and activate the WooCommerce plugin (if you haven’t already).
- From your WordPress dashboard, navigate to Plugins > Add New and search for “WooCommerce Payments.”
- Install and activate the WooCommerce Payments plugin.
- Go to WooCommerce > Settings > Payments.
- Click “Set up” or “Manage” next to “WooCommerce Payments.”
- Connect your store to WordPress.com (required for the service) and provide the necessary business details to create your account.
- After setup, you can manage payment settings, view transaction details, and more directly from your WooCommerce dashboard.
3. Costs:
While there’s no monthly fee for using WooCommerce Payments, transaction fees apply, much like other payment gateways. The transaction fees depend on the type of card used and where your store is based. Always check the WooCommerce website for the latest rates.
4. Considerations:
- Availability: WooCommerce Payments may not be available in all countries, so verify its availability in your location.
- Compatibility: Ensure your WooCommerce version is compatible with the version of WooCommerce Payments you’re installing.
- Refunds: WooCommerce Payments allows for full or partial refunds, and the transaction fee is also refunded.
- Disputes: Handle payment disputes directly within your dashboard. Be proactive and provide as much evidence as possible if disputes arise.
5. Alternatives:
While WooCommerce Payments offers an integrated solution for payment processing, there are many alternative payment gateways available for WooCommerce, including PayPal, Stripe, Square, and others. Choose the one that aligns best with your business needs and the preferences of your target audience.
In conclusion, WooCommerce Payments is a user-friendly and integrated solution for WooCommerce store owners. It streamlines the payment process, making transactions and management efficient and cohesive.
