Analyzing Your Merchant Account & Payment Gateway Options For WooCommerce

Written by: Scott Ring

If you’ve chosen the WooCommerce platform for your online business, you probably already know your store is in good hands. But the addition of the right payment gateway is also a crucial part of your success.

As one among many WooCommerce payment gateway solutions, we know you have lots of options. Before you say “I do” to any one in particular, here’s our advice: Don’t settle for satisfactory. Look for a WooCommerce payment gateway extension that actually helps accelerate sales—and then grows and changes right along with you.

But what does it really mean to have a gateway that boosts business? Let’s look at some WooCommerce payment gateway options to find out.

WooCommerce Payment Gateways: Analyzing Your Options


1. You could choose a payment gateway that handles domestic transactions only.

You may not be doing international sales now, but the world truly is your oyster in today’s business landscape. (A recent Forbes survey of 24 countries found that 57% of respondents had shopped from an overseas website in the past 6 months!) If you choose a gateway that doesn’t have the capability to process global transactions, you can bet it won’t be long before you’ll be pounding the pavement again, looking to add another one that does.

And if you do choose a “global” gateway, be aware of what that really means! Coverage for one particular region (Europe, Asia, etc.) won’t get you what you need, which is world coverage. Nor will a gateway that has only one or two acquiring bank partnerships—a strategy that sets up global payments for failure. If the acquiring bank is located in the U.S. and the shopper’s bank is in another country, that transaction has a much higher probability of being flagged for fraud—creating still more opportunities for lost sales.

2. You could choose multiple payment gateways to do the job of one.

Without proper understanding, you could end up needing more than one payment gateway if the one you choose:

  • Doesn’t offer a merchant account (a necessity for payment processing).
  • Doesn’t offer global payment processing (see #1 above).
  • Can’t handle subscription sales.

Running a WooCommerce store with multiple payment gateways makes your life more challenging than it needs to be. (It’s very difficult to determine profitability while reconciling multiple accounts, among other things.) Plus, you’ll need a more sophisticated system for directing gateway traffic and transaction failover logic to manage it all, both of which put sales at risk due to unnecessarily complex background operations.


Want a secure, frictionless checkout solution that works harder for your WooCommerce store? Learn more about BlueSnap.


3. You could choose a WooCommerce payment gateway that charges for their extension.

All payment gateways charge a transaction fee for processing payments, which means they keep a small percentage of the transaction amount in exchange for providing you with processing services. On top of that, many gateways also charge you a fee to access their extension that plugs into your WooCommerce shopping cart in order to process payments. That’s more money out of your pocket and into theirs.

4. You could choose BlueSnap and create a WooCommerce custom payment gateway for the long term.

First, BlueSnap does global better than anyone else. We support 100 local currencies around the world, making more customers more willing to purchase from you.

We also have partnerships with more than 20 global banks, so we can send every transaction to the bank most likely to approve it. (That’s what we call intelligent payment routing.)

Plus, you can get all the payment processing features you need with BlueSnap’s all-in-one solution. We’ll give you a payment gateway and a merchant account, so you don’t have to set them up separately. Need subscription capability? We can provide that. Need to sell in different regions? We can handle that, too. Essentially, you create the gateway your business needs, and you can add new features anytime! (Yellow Images is a great example of a WooCommerce business using BlueSnap for its payment gateway.)

WooCommerce

And why pay for your WooCommerce payment gateway integration? The BlueSnap extension is free! We love that you love WooCommerce, and we don’t want to interfere with that relationship. That’s why we don’t charge for our extension—only for the transactions that you process with us.

A BlueSnap-WooCommerce payment gateway integration has everything you need for the life of your business.

On top of all the above, by choosing BlueSnap as your WooCommerce payment gateway you’ll also have access to:

  • In-depth reports. Our reports complement and extend the insights you get from WooCommerce, giving you even more meaningful payment information (like chargeback data, for example) you can use to reach business goals.
  • Built-in, world-class fraud protection. Our fraud prevention solution analyzes hundreds of data points for every transaction, giving you the highest possible level of protection against fraudulent orders.
  • Customer support with a human touch. Call or email our merchant support team anytime for help, or check out our extensive Support Site for an answer to just about any question you have. We pride ourselves on how easy we make it for merchants to get started using our extension, and on the level of assistance we provide throughout our partnership with them.

Interested in learning more about using BlueSnap as your WooCommerce payment gateway extension? Get started here!

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