Need to take payments; let WooCommerce lower the cost for you
You may think that setting up an e-commerce site is a cost-effective way to sell your products; and whilst they cut out some of the costs associated with a physical store, they can still be incredibly costly to set up and maintain.
If you want to keep the costs down, there are some things that you can cut back on; however, the ability to accept secure payments is not one of these.
Here at Viva Digital, we can let you into a secret, there are some ways that you can accept a variety of payments and not lose too much of your budget in setting this facility up. That is WooCommerce.
Before we learn more about WooCommerce, first let’s see just how expensive it can be to set up payments on an e-commerce site.
Online payments and their costs
It is one thing often overlooked buy those setting up online payments on their e-commerce store; the costs charged by payment providers. These charges can be made monthly, or for each and every purchase, it really does just depend on the package that you opt for.
For some businesses that sell smaller, cheaper products, the idea of having to pay out 5% of those purchases may not seem like that horrendous an idea. However, you may also find that as these payments build up or as your business becomes bigger and makes more sales, these small charges can run into the thousands.
Is there a solution?
The answer is yes. There are a number of different payment providers that you can choose for your online payments and one of the best is WooCommerce.
WooCommerce brings together low charges with high quality; just what you are looking for with your store.
Tell me more about WooCommerce
WooCommerce doesn’t just give you the opportunity to accept one type of payments, it includes several different choices. Two of which are PayPal (powered by Braintree) and Stripe too. Two well-known payment methods which are incredibly easy to set up during the initial set-up process.
Both of these payment options will be fully integrated into your checkout process and will appear to your customers once they are checking out, easy to see and easy to select.
So how much do these cost?
We love the fact that for both of these payment options the pricing structure is incredibly straightforward. For PayPal powered by Braintree the first $50,000 in transactions are free and after that you pay 2.9% + 30 cents for every successful credit card or digital wallet transaction.
For Stripe, as long as your yearly charges are below $1million you will only need to pay 2.9% +30 cents per transaction.
Are there any other options?
These two payment options are incredibly easy to set up, however, they are not the only choices that you have if you opt for WooCommerce. They are free to install and many of them have the added bonus of low fee charges for all of the transactions.
It really does depend which one is right for you and how much you are willing to pay. For those e-commerce sites just starting out, we suggest the two start options, once you have become more established, you can begin to explore other options.