5 Benefits Of Using Square Payment Gateway For Your Ecommerce Store
5 Benefits Of Using Square Payment Gateway For Your Ecommerce Store
27 April 2022
eCommerce has gained massive popularity in recent years. The rate of user engagement in digital commerce is expected to reach 50% by 2023. The advantages of digital payments have never been very lucrative to companies. The Square Payment Plugin for online services or e-commerce products is essential to opening up entrepreneurial options on your WordPress website, allowing online digital payment systems to become even more significant.
Whether you sell services, products, or anything else, offering the option to accept payments through credit or debit cards simplifies the process of eCommerce.
We have compiled the benefits of using the Square payment plugin with Woocommerce to make things look simple. Since the procedure can influence your lead conversion, this article will massively help you.
The Role of the Payment Gateway
A digital payment gateway is the prevention tool for your buyers’ payment information. A payment gateway gives the claimant and the authorized bank information using data encryption to secure your sensitive data and limit financial threats to online businesses. An online payment gateway keeps retailers secure from insufficient balances, expired credit cards, canceled accounts, and fraud transactions by monitoring or exceeding credit limits.
Breaches regarding financial data are common these days around the world. So, as an eCommerce store owner, you must implement every possible safety solution for your clients’ safety. To benefit your business, you also need to have multiple protection layers in place to save your database from online hacks.
How Does the Square Payment Gateway Work?
Square allows square payments for WooCommerce. WooCommerce merchants can receive card payments using a gateway that transfers banking details through a secured channel. Square minimizes transaction fees to 2.75% for every transaction, or 3.75% plus 15 cents for manual transactions. They offer other services as well, including software and point-of-sale services.
Square Payment Gateway Advantages
1-24/7 Operational
When you come back from your shop after a tiring working day, a payment gateway guarantees your e-commerce store remains operational. Online card-based spending is hugely increasing, and you can expect it to continue. It allows people who own eCommerce stores to make sales and get paid even when they aren’t online, which helps other businesses work around the clock.
2-Reaching Out to Global Audiences
One of the most interesting aspects of receiving payments online is that you can extend your doors to the whole world. Your subscription remains operational for more international buyers; over 50% of online customers opt to shop cross-border. As a result, a key benefit of digital payments is that they allow you to improve your global presence and ROI.
3-Buy Anything You Like
You will notice that spontaneous buying accounts represent a huge percentage of all e-commerce spending if you look around. Giving your clients a digital platform that has a payment platform allows them to buy anything at any time. As a result, they might watch their favorite movie while buying it.
4-Security
A payment gateway is a crucial component of an e-commerce framework, and it is necessary to link it from a security standpoint. The most important thing about a payment gateway is that it protects your money. This reduces the frequency and power of credit card fraud on an e-commerce platform.
A payment gateway gives the buyer authentication to satisfy a secure transfer of funds from their accounts to the e-commerce-based account. A digital payment gateway gives safety measures for the whole payment flow.
5-The Exceptional Journey of the Payment Gateway
Due to money-making, time-saving, and discount-driven e-commerce stores, payment gateway demand around the globe has skyrocketed.
Online eCommerce stores have gained popularity over time due to simple API-based applications. Furthermore, new developments in responsive design, delivery setup, and data usage are positive signals.
However, an eCommerce framework is flawed without a dependable and effective payment gateway solution. The expansion of e-commerce marketplaces has resulted in the integration of payment gateways for online shops.
Square Payment Gateway Integration with WordPress (WP EasyPay Plugin)
Without using any other plugins or codes, you can integrate Square as a WordPress payment gateway into your site with WP Easy Pay. WP Easy Pay has special buttons that let people make every kind of payment, from subscriptions to donations to recurring payments.
WP EasyPay has the following features:
- Create a regular single payment schedule.
- Payments without any API code
- All payments must be made with a single button.
- Developers can test in a sandbox environment.
- Successful notifications for transactions 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.
Final Words
Payment processing is one of the most neglected aspects of building an e-commerce website. Still, it must be a priority because of its impact on the conversion rate and your seamless checkout page. It would help make payment processing as inclusive, smooth, and secure as possible to achieve e-commerce success.