Payment gateways help to close the deal for e-commerce websites looking to attract and convert online customers. In this guide, we’ll cover both what to look for when finding a gateway and the best payment options to integrate into your WooCommerce website.
When running an e-commerce website using WooCommerce, finding the right payment gateway is a crucial part of the equation. You need to find the perfect mix between user experience and merchant optimisation to keep your payments running smoothly and minimise the dreaded abandoned cart problem.
Fortunately, you’re not on your own. In this guide, we’ll help you learn about some of the variables to keep in mind when finding the right plugin, along with some of the best payment gateway options available for WooCommerce today.
As its name suggests, a payment gateway processes the online payments of an online store. It verifies credit card and other payment information, deducts that payment from the customer’s bank account or card, and deposits it into the merchant account. In exchange, merchants pay a small fee.
Payment gateways can be direct, integrating into the site to improve user experience, or external, redirecting the user to their own website for the transaction.
While the latter can be more secure, it also disrupts the user journey and can lead to higher abandonment rates.
With a basic definition of payment gateways in place, let’s dig into some of the most important variables that should come into play as you examine the best option for your online store:
With those variables in mind, let’s take a closer look at the payment gateways you can choose to power your e-commerce store. The below options are listed in alphabetical order, keeping in mind that the ultimate best option depends on your situation, customers, and preferences.
Amazon pay shines through its integrations. Especially if you already have an Amazon merchant account, you can easily integrate its WooCommerce plugin, embedding payments directly on your site.
The transaction fees are reasonable (2.7% + 30p per transaction), and merchants won’t need to pay a monthly fee. The integration is available in the UK, USA, Japan, and most European countries. On the downside, transactions can periodically be slow, and Amazon’s merchant support is not always responsive.
Owned by PayPal (we’ll get to the separate PayPal gateway below), Braintree is optimised separately It’s highly customisable full-stack system, but requires some advanced knowledge to integrate into your website.
In exchange, you get low fees at 1.9% per transaction and a 20p fixed charge. Cards from outside the European Union require an extra 1% fee. It’s also optimised for mobile payments, which can be a positive (reflecting the e-commerce trend line) or negative (if most of your users are still on desktop devices). Braintree supports more than 100 currencies and is available throughout Europe, Australia, the US, Canada, Singapore, China, Hong Kong, and New Zealand.
From Swedish company Klarna comes a checkout integration that’s unique in one central way: financing. Customers can easily spread out their payments over time, making it especially relevant for online stores selling more expensive goods and services.
The transaction fees are reasonable, at 2.49% plus a 20p fixed charge. Beyond that, Klarna shines with simplicity—which works well in many cases, but can become an issue with more advanced integrations, including documented issues with some WordPress themes.
Opayo is the first payment gateway on our list with a different pricing model. Its flex plan begins at £25 for up to 350 transactions per month, with no additional fees. Bespoke plans are available for 3,000 and more monthly transactions.
The firm pricing makes Opayo a good choice for startups looking to budget. Opayo also shines in its advanced security features, and a 24/7 live support system. However, merchants have reported a complex and not always obvious user experience. The gateway currently supports 25 currencies.
In many ways, PayPal is the grandfather of payment gateways. It’s evolved with the times, though. The tech giant is easy to set up and accepts all major credit cards and PayPal transactions, supporting businesses from more than 200 countries along with 20+ currencies.
The setup is easy, but fees can get a bit expensive for merchants. Expect to pay a monthly flat rate of £20, along with £14 in chargeback fees. Transaction fees range from 1.9% to 3.4% depending on volume and the origin of the payment, along with an extra 20p per transaction. Limited customisability can offset the easy setup for online stores looking to build their brand.
This gateway shines through its integrations. It’s a highly customisable option that allows merchants to ensure the payment experience fits right into their online store. Stripe has been lauded for its UX for both desktop and mobile devices.
The prices are highly competitive, with a 1.4% transaction fee for European credit cards that rises to 2.9% for cards outside the continent. On the downslide, there have been reports of account freezes from merchants, and the customer service can sometimes be lacking.
The UK-based platform is a comprehensive solution for both online and in-store transactions, making it perfect for hybrid merchants with at least some brick and mortar presence. It’s also secure, and offers comprehensive fraud protection services to help your business.
For that price, Worldpay has a relatively stringent acceptance policy, and not every merchant qualifies. Contracts are relatively long, and you’ll need to pay to terminate them. Rather than charging per transaction, Worldpay locks you into a monthly payment plan that starts at £19 for 350 transactions per month.
Online stores using WooCommerce have plenty of options to find a payment gateway that works for them.
Ultimately, the best option is one that streamlines merchant processes while also creating a VIP experience for customers looking to buy your products or services.
In either case, we can help. If you’re looking to learn more about our experience in building successful e-commerce sites, check out our case studies to learn more about some of the payment gateways we have integrated into our builds. Of course, you can always get in touch to learn more about our expertise in developing successful online stores using WooCommerce.
