Internet Payment Gateway is a third-party application that serves as a tool for processing online card payments. Whether your customer decides to pay the full price or chooses to pay by installment (a sum of money paid in small part over a fixed period of time), the IPG will enable both.
These kinds of gateways act as in-between services, they process the customer information left at the checkout and deal with authorization and fulfillment of payments for you, the web-shop owner.
The most important tasks of IPGs:
⦁ encrypting & securing sensitive data complying to the highest data security standards
⦁ flexibility in types of payment, which increases the sales
There are two main types of gateways: Redirect and direct.
Redirect gateway means that the customer has to leave your site to process a payment; in most cases to the company’s site that manages the gateway. A direct gateway handles payments on your site only.
Redirection is the best option if you don’t want to be responsible for your site’s security, because in case of hacking it could result in a credit card and personal information theft.
But if you send your customers to a different site to purchase their items, it could make them unwilling to pay if they aren’t familiar with your payment gateway. This is why the best payment gateways for most businesses are direct.
What any buyer will look for at the checkout is a reputable and trustworthy payment gateway. We have integrated these types of payment in our client’s web shops.
There is not much to tell about the payment service we all know and trust. It holds the title of the most widely accepted digital payment method worldwide. Their gateway boasts up to 44% higher checkout conversion. By choosing PayPal you will get fraud protection, live support and card compatibility, and all for the price of 2,9% + 0.30€ per domestic transaction.
It’s a flexible, highly reliable and accessible IPG service for card payments in web stores. If you own an online store you have to offer your customers card payments that enable you to sell your merchandise to buyers across the world, in a safe and secure environment, in real time and different currencies, and last but not least, paying by installments. It holds PCI DSS, the highest security standard for organisations that store, process and transfer information about cards and their owners.
Why choose them? It offers support for the most popular card brands, such as MasterCard, Maestro, Visa, American Express, Diners, Discover. It is connected with 8 banks in the region and one in Germany. More than 400 merchants use and trust CorvusPay. They regularly upgrade their system and develop new functionalities according to newest trends. CorvusPay supports various platforms, currencies and cards. Their service is modular, and price model is simple. The price of a monthly fee is 220 kn for traffic under 44.000 kn.
They present you 4 steps to activate your CorvusPay service:
- Choose a bank or multiple banks that you want to recieve funds from
- Sign a contract with them and Corvus Info
- Integrate your web shop with CorvusPay system and test all the functionalities
- Activate the payments on your web store and launch your business!
PayWay is a virtual POS system that enables online billing for products and services by using the up-to-date-security methods and procedures for the protection of private data. It offers additional possibilities, lower transactions and their connection to more banks. PayWay is processing credit and debit cards worldwide for the automated revenue collection. You can choose your own way of completing transactions and reserve the means with the possibility of billing a less amount than authorized. PayWay offers cooperation with one or more banks, transparent history of transactions and an option of a refund to the customer. You can create your own installment limits and decide how many installments your buyers are allowed. Initial price is 1000 kn and a monthly fee of 200 kn + up to 1% by transaction.
WSPay is a secure system for online authorization of credit cards in real time. They started as an IPG that enabled connections with 2 types of cards, but it has grown and became a Payment Service Provider that enables connections with different kinds of sale with one or more card and various kinds of payment. WSPay does business with AmEx, Diners, JCB, Discover, Mastercard, Visa and Maestro, but also PayPay, Sofort, Giropay and some others. There are additional modules created specially for web shops, online booking and web sites for ticket sale. WSPay basic licence enables the seller to have a card payment system through eCommerce channel and it is suited for all the business owners who sell products or services in real time without the need for the buyer to be physically present at the store.
WooCommerce payment gateways
Our list of best WooCommerce payment gateways includes the one who serve the most countries and they’re among the most trusted companies.
Some of PayPals gateways are basic and use the redirection method for payments. Others, like PayPal Pro, uses the direct method and can handle regular product sales. It costs $35 per month and there’s a PayPal transaction fee of 2.9% plus 30 cents.
It’s a PayPal company, so you know it can be trusted. There are no monthly fees and you can accept payments from all major credit cards plus Apple Pay and Android Pay. There’s a transaction fee of 2.9% plus 30 cents, but the great thing is that your first earned $50,000 is free.
Stripe is able to handle recurring payments and can process refunds automatically. It is able to process all major credit and debit cards. There is a transaction fee of 2.9% and 30 cents. They also have a fraud prevention product called Radar.
There’s a fee of 2.9% and 30 cents per transaction. There’s also a $49 setup fee and a subscription fee of $25 per month. It accepts all major credit cards and debit cards, and also handles refunds, subscriptions and pre-orders. Customers also have the option to save their payment details for their next purchase.
It’s ultimately up to you to decide which WooCommerce payment gateway is best for your business. For more details on check out the official WooCommerce documentation at https://woocommerce.com/product-category/woocommerce-extensions/payment-gateways/