Once you’re done with the shipping and tax setup, it’s time to move to the most crucial aspect of your online store – The Payment Page. This page allows you to decide how do you want to get paid by your customers.
An e-store that provides its customers with multiple payment methods is usually preferred more than online stores that are limited to one or two. Considering the same, WooCommerce comes with a set of default payment gateway options.
Default Payment Gateways in WooCommerce
Once you’re done with the configuring the checkout process, you will now need to set up payment methods on your online store. To move ahead, follow the steps:
- On your WooCommerce dashboard, click on “Settings”.
- You will be then redirected to a new window as shown in the image below.
- From the tabs, click on “Payments”.
- You will see a new window with four types of payment methods that WooCommerce offer, as shown in the image below.
Based on your specific requirements, you could choose to set up any of these.
Now, let’s take a quick look at what these default payment options are and how you can use them in your e-store.
Direct Bank Transfer
This payment method allows your customers to process payment directly from their bank accounts for their products. The amount is transferred directly from the customer’s account to your account. This type of transfer generally takes two to three working days. This process usually has a longer turnaround time and demands manual efforts. Hence, most businesses do not prefer using this payment method.
If your online store demands setting up Direct Bank Transfer method, here are the steps to set it up:
- Toggle the “Enable” button to select “Direct Bank Transfer” Options.
- Now click on the “Settings” button.
- You could now see a new window with several options as in the image.
Here, you will be asked to enter the following:
- An appropriate “Title” for this payment option you want your customers to see on your online store.
- Add payment method “Description” here for your customers.
- Add “Instructions” that you would want to show on the thank you page and emails.
- In the “Account Details” Section, enter the required information as per the fields given. This section is used to add bank accounts you would like the transfer to be pointed at.
- Click on the “Save changes” button to save all the performed configuration. And you’re done.
This is the second payment method WooCommerce offers by default. As the name suggests, this mode allows customers to pay for their products via an E-cheque. Somewhat similar to “Direct Bank Transfer” and hence is not much preferred by store owners.
Follow these steps to configure check payments method:
- Toggle the “Enable” button to select “Check Payments” as your payment method.
- Click on “Setup”.
- You will be redirected to a new window where you will be asked to fill some details.
- Add an appropriate “Title” for this payment type. Your customers will see this title on the payment page.
- In the “Description” textbox, add information which helps your customers understand what they need to pay using this mode.
- Add any “instructions” about this payment type like how many days will it take to reflect the transaction, what if the payment fails, etc.
- Click on “Save Changes” and it’s done.
Cash on Delivery (COD)
With this payment method, your customer can pay with cash (or by any means) upon delivery of their products. People love COD payment type as it helps them avoid fraudulent online transactions. With WooCommerce, store owners can set COD with certain shipping methods only or with a minimum order amount. You can customise this payment type using additional plugins in WooCommerce.
Take a look at how to configure COD method on your online store.
- “Enable” the COD option and click on “Manage”, as shown in the image.
- You will be asked to fill in some details just like you did while configuring the previous payment methods including the Title, Description, and Instructions.
- If you want to enable COD for only specific shipping methods like Free Shipping, Flat Rate, etc., you can set it here. Choose from the drop-down list of shipping methods you want to offer COD for. Leave this option blank, if you want to offer COD for all shipping methods. Refer to the image:
- Also, if you are into a business that sells virtual products like e-magazines, WooCommerce allows you to offer COD on such virtual orders, as well. To enable this option, simple click the checkbox given besides “Accept for virtual orders”.
- “Save Changes” and you’re done.
This payment method is the most preferred of all because of the features it offers to the store owners. PayPal Standard redirects your customers to the PayPal application to enter their information and pay. This method is simple, safe, and hassle-free. However, you must have a PayPal Account in order to incorporate this method into your E-store.
Further, there is no monthly fee in this option, However, PayPal may charge a fee for payment processing, which is proportional to the amount you receive from the customer. The fees depend on the payment option, the payment amount, currency used, the customer’s location, store location, and the account type of the store owner.
You must also know that there are several ways to configure this payment method. We will review those later in our tutorial. Before that, let us learn to configure PayPal Standard.
Follow the simple steps:
- “Enable” the PayPal Standard option and click on “Set Up” for configuring it.
- Next, you will need to fill in basic information and some advanced options, as well. Just like the other three options, you will need to fill basic information including the Title, and the Description.
- Next, you will need to enter your “PayPal email” address.
Unlike other default Payment options, you need to fill some advanced options when configuring PayPal Standard. These include:
- PayPal Sandbox: This is a virtual testing environment that allows you to test your payments without touching any live PayPal accounts. To “enable” this option, you will first need to create a sandbox account. It is recommended to enable this option for secure payment transactions.
- Debug Log: “Enable” this option if you want to keep a track of all the failed payments and why did they fail.
- IPN Email Notification: When you enable the Instant Payment Notification or IPN option, you will be notified automatically about any transactions or events that takes place on your store.
- Receiver Email: Enter the email address linked to your PayPal account.
- PayPal Identity Token: If you don’t prefer using IPN, you can still verify your payments using this option. To get your PayPal token, in your PayPal account, go to:
Profile -> Profile Settings -> My Selling Tools -> Website Preferences.
- Invoice Prefix: This prefix will be used for generating invoice number in PayPal. You must use this option if you are running multiple stores on the same PayPal account.
- Shipping Details: If you “enable” this option, you can send your Shipping address to PayPal instead of your billing information.
- Address Override: Since PayPal verified addresses, enabling this option will prevent the customers from changing the address information.
- Payment Action: Here you can choose (optionally) whether to accept funds immediately or want to just authorize your payments.
- Page Style: You could optionally choose a page style from the options given by PayPal.
- Image Url: If you want to showcase your logo on your PayPal page, you could add the URL of that image here.
- API Credentials: Here you will need to enter the API credentials including your PayPal username, password and signature. This information will help you process your payments. To create and get your API credentials, follow the simple steps given here: https://developer.paypal.com/docs/nvp-soap-api/apiCredentials/#create-an-api-signature
- Once you are done with all the settings, click on “Save Changes” to complete this configuration.
So, with this, we come to the end of how to configure and set up default payment methods in WooCommerce.
One good thing about WooCommerce is that it allows you to use several other payment gateways and is not just limited to the default ones we just learnt about. It offers you a number of payment gateways extensions, which you can configure on your online store.
The image shows a few of the many payment extensions you can use in your online store.
To access these extensions:
- Go to “WooCommerce” -> Extensions.
- Click on “Payments” tab.
While you can choose to configure any of these extensions, we have selected one of most popular – Stripe extension.
Let us learn what makes Stripe so popular and how to configure it on your WooCommerce online store.
Stripe is simple checkout plugin by WooCommerce that allows you to accept payments directly on your store. With this plugin, customers don’t need to redirect to an externally hosted checkout page and can pay on just a click of a button.
Further, with Stripe, you don’t have to pay any set-up fees, monthly fees or any other hidden amount. It accepts all major payment methods including credit cards, and debit cards from over 135 countries globally.
Let us now learn how to configure Stripe on your WC online store.
- Click on the “Stripe” extension you could see on the “Payment” page.
- You will be redirected to the WC Stripe product page.
- Now, click on “Install Now-Free”.
- With your WooCommerce Account, you could get this extension and install it right away.
- Go to “Dashboard”-> Plugins ->Add Plugins.
- In the search bar, look for “Stripe” Plugin. Install it.
- Click on “Activate”.
Once you activate the plugin, it will automatically get added to the list payment methods in WooCommerce Settings. (Dashboard-> WooCommerce-> Settings-> Payments).
Now, you will see a number of Stripe Payment Methods. Choose the one which fits all your requirements. We are discussing the very first option, Stripe for Credit Card Payments.
- Add basic information including the Title and Description.
- The next you will need to setup “Webhook Endpoints”. These help in ensuring communication between Stripe and your WooCommerce installation.
- Select the “Test Mode” option if you want to place your payment gateway in test mode (similar to the Sandbox concept in PayPal configuration). If you opt for the test mode, you will need to enter:
- Test publishable key
- Test Secret Key
- Test Webhook Secret
You can get all these details from your Stripe Account.
- But if you do not choose the test mode, you will need to add details, including:
- Live Publishable Key
- Live Secret Key
- Webhook Secret
Again, you can get these details from your Stripe Account.
- Inline Credit Card Form: you can choose the credit card form style by checking this option.
- Statement Descriptors: Add information that you want to display on a customer’s credit card statement.
- Capture: Select the “Capture Charge Immediately” checkbox to authorize and capture funds at the same time. But if you don’t select this option, you’ll need to capture funds manually for each order within 7 days. Otherwise, both the authorization and order will be cancelled.
- Payment Request Button Type: You can choose from the following:
- Default – displays “Pay” – the default Stripe button.
- Buy – Display “Buy Now”
- Donate – Display “Donate”
- Branded – Enables Google Pay styles in Chrome.
- Custom – Displays simple button with custom text.
- Payment Request Button Theme: You can change the appearance of the button you want to show on the Payment page.
- Payment Request Button Height: Set the height of the button as per your design preference.
- Saved Cards: By ticking this option, you allow your customers to pay with a saved card during checkout for future purchases.
- Logging: Tick the option if you wish to save logs to troubleshoot any issues or bugs.
- Click on “Save Changes” to save all your configuration settings.
Note: WooCommerce allows you to create custom payment methods if the available payment plugins or extensions do not fulfil your requirements. For this, you will need a developer assistance.