All you need to know about WooCommerce Payments | VendorElite
Millions of
eCommerce transactions are processed around the globe daily. It is a must for
eCommerce businesses to integrate a secure and user-friendly payment gateway.
According to the reports, over 45% of total eCommerce transactions in 2020 were
through mobile and digital wallets. Digital and mobile wallets are the most
preferred mode of payment method as of today. It is expected that transactions
through digital and mobile wallets will exceed over 50% in 2024. Around 23% of
the eCommerce payments in 2020 were through credit cards.
A secure and
trustworthy payment solution is required for the WooCommerce stores to
capitalize on the market share. Nowadays, there is a wide range of payment
gateways available to process customer payments. Each gateway charges a certain
amount per transaction, so you need to look for the best payment gateway that
charges you less amount. There are a few payment gateways available that don’t
charge any setup fee, monthly fee, and a reasonable fee per transaction.
WooCommerce Payments is one such payment method that is best suitable for
WooCommerce sites.
What is WooCommerce
Payments?
Developed by
WooCommerce, it is specially developed to integrate into WooCommerce websites.
WooCommerce Payment plugin helps to track cash flow, and collect payments. You
will be able to manage this plugin from the WooCommerce store’s dashboard
without a monthly fee or setup fee. WooCommerce Payments allows you to track
transactions, manage disputes, manage deposits, and track revenue.
How WooCommerce Payments
works?
Exclusively
developed for WooCommerce, this payment gateway makes the payment process very simple
for your customers. Payment security is the main highlight and it accepts all
major debit/credit cards. WooCommerce Payments allows customers to pay directly
without redirecting to third-party websites. All the transactions can be
managed from the WordPress dashboard without any hassles. If there is a refund
or a dispute to settle, you can easily manage it from the WordPress dashboard.
WooCommerce Payments makes the checkout process quick for your customers. The
integrated analytics in WooCommerce Payments allows you to have an insight into
key metrics like conversion, finances, SEO, and traffic.
Why it is perfect for
WooCommerce Stores?
According to
records, more than 4.5 million WordPress websites used WooCommerce Plugin.
WooCommerce released its payment gateway WooCommerce Payments in 2020. Over the
years, it proved to be one of the most reliable methods to accept payments in
WooCommerce stores. WooCommerce Payments processes payments effectively from
the store’s dashboard directly without depending on third-party payment
gateways like Stripe, Paypal, etc. You will be able to manage disputes and
refunds as well from the dashboard.
Having too
many gateways in the eCommerce store makes the customers confused and same time
it will make site administration a complex task. Choose a payment gateway
suitable for your business needs and user-friendly. It will be difficult
to find a user-friendly and secure payment gateway as good as WooCommerce
Payments for your WooCommerce store. Hosting your eCommerce store on Vendor
Elite makes things easy to manage on multiple sales channels.
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