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In recent years, eCommerce has seen an enormous surge in popularity. It is anticipated that by the year 2023, the rate of user engagement in digital commerce will have reached 50%. Companies have never seen significant financial benefits from the use of digital payment methods. Having the WordPress Square Plugin for online services or e-commerce products is necessary if you want to open up entrepreneurial possibilities on your WordPress website. This plugin makes it possible for online digital payment systems to become even more significant.
The process of selling goods and services online is streamlined when customers can pay with credit or debit cards.
To make things appear less complicated, we have collated the advantages of utilizing the Square payment plugin with WooCommerce. This blog will be quite beneficial because the process can impact your lead conversion.
Table of Contents
An Overview of the Payment Processor’s Function
A digital payment gateway serves as the protection mechanism for the sensitive financial information of your customers. A payment gateway uses data encryption to protect your personal information and prevent the financial risks that are posed to online businesses. This information is given to the claimant and the bank authorized to handle the transaction. Retailers are protected from fraudulent transactions, inadequate balances, expired credit cards and canceled accounts when they use an online payment gateway that monitors credit limits and alerts them when such limits are exceeded.
In this day and age, breaches involving sensitive financial information are all too common all around the world. Therefore, as the proprietor of an eCommerce site, you are obligated to put into effect every feasible safety measure so that your customers can shop worry-free. For the sake of your company’s success, you need to take the additional step of putting in place a number of different levels of protection for your database, which will prevent it from being hacked online.
Why Square’s Payment Gateway?
All of Square’s payment gateway options are now compatible with WooCommerce. With a gateway that encrypts sensitive financial data in transit, WooCommerce stores can safely take credit card payments from customers. Square charges a flat rate of 2.75% for every transaction, with a minimum cost of 3.75% + 15 cents for transactions processed by hand. They offer them in addition to POS terminal software and support.
Benefits Of Using Square’s Payment Gateway
1-Functional Around-The-Clock
A payment gateway ensures that your online store will continue to function even after a long day and after returning home from being at your physical location. You may anticipate that using credit and debit cards for online purchases will continue its meteoric rise. It makes it possible for individuals who run eCommerce stores to make sales and get paid even when they are not online. This enables other businesses to operate all day and night hours.
2– Engaging People All Over the World
One of the most intriguing features of accepting payments online is the fact that it enables you to open your business to customers from all over the world. Your membership will continue to work for additional overseas buyers; more than fifty percent of internet customers choose to shop across international borders. Because of this, one of the primary advantages of utilizing digital payment methods is that they make it possible for you to increase both your global presence and your return on investment.
3– Spend Your Money on Whatever You Want
If you do some research, you will find that impulsive purchases make up a significant portion of the total sum spent on all e-commerce transactions. If you provide your customers with a digital platform that also includes a payment platform, it will be possible for them to make purchases at any time and for any item. As a consequence of this, it is possible that people will watch their preferred movie as they are purchasing it.
4- The Safest Way to Make Online Payments
A payment gateway is an essential element of an e-commerce system and must be connected for security purposes. The most crucial aspect of a payment gateway is that it safeguards your funds. This decreases the frequency and effectiveness of credit card fraud on e-commerce platforms. A payment gateway provides the buyer with authentication to facilitate a secure funds transfer to the e-commerce account. A digital payment gateway safeguards the entire payment process.
5- The Remarkable Quest of the Payment Processor
The need for payment gateways has increased dramatically worldwide due to money-making, time-saving, and discount-driven e-commerce companies. Simple API-based apps have helped online eCommerce companies become more well-known over time. Positive signals also come from recent advancements in data usage, delivery configuration, and responsive design. However, an eCommerce architecture is useless without a solid and efficient payment gateway solution. The growth of online markets for commerce has led to the incorporation of payment gateways for online stores.
Integrating Square’s Payment Gateway into WordPress
WP Easy Pay makes it possible to include Square into your WordPress site to act as a payment gateway without needing additional plugins or codes. People can make any form of payment using WP Easy Pay with the specialized buttons included in this plugin. These payments include subscriptions, donations, and recurring payments.
- Make a plan for a single payment to be made on a regular basis.
- transactions devoid of any required API code.
- A single click is required for each and every payment.
- Sandbox environments are available for testing for developers.
- Notifications of successfully completed transactions are sent through email.
WP EasyPay requirements:
- A working Square account
- Valid SSL certificates
- PHP 5.5 or above is required.
- WordPress version 4.8 or higher is required.
Conclusion
When building an e-commerce website, payment processing is one of the things that gets the least amount of attention. Despite this, you should make it a top priority because of its effect on the percentage of customers that make a purchase and the efficiency of your checkout page. It would contribute to making payment processing as inclusive as feasible, as smooth as possible, and as secure as possible, which would help achieve success in e-commerce.
Read more: 5 must have features for successful Shopify app development
