All you need to know about WooCommerce Payments | VendorElite

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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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