Do you have an online store without a payment gateway? Setting up a new store and want to accept Stripe payments? Want to add Stripe as a payment method to your existing store?
Every online store selling products, be it physical or digital, needs a payment gateway to help you easily accept payments.
In this article, we will show you, step-by-step, how to easily set up and accept payments in WordPress. And in particular, set up Stripe within WordPress.
When you are starting with an online store, in addition to deciding on the best hosting service providers, one of the most critical questions would be on how to accept payments online.
While there are several payment gateways available, such as Amazon Pay, Authorize.Net, 2Checkout, Braintree (owned by Paypal), Skrill, the two most commonly used payment gateways are PayPal and Stripe.
Both PayPal and Stripe allow you to easily integrate a payment gateway with your WordPress store and accept payments.
This article covers how to set up Stripe with WordPress and a WooCommerce store. We will also cover adding payment options to WPForms and Easy Digital Downloads.
First, let’s take a quick look at what a payment gateway is, what it does, and the key differences between PayPal and Stripe.
What Is a Payment Gateway and How Does It Work?
A payment gateway is an application integrated into your online store that enables secure payments. It acts as the middleman between you and your customer. It works by accepting the payment from a customer when they purchase something and transfers it into your bank account.
Integrating a payment gateway to your website or app is the simplest way to accept online payments. Not only do these payment gateways allow you to accept online payments through debit cards and credit cards but also various other modes such as net banking, prepaid instruments, wallets as well.
This is a brief overview of how a payment gateway works.
(Source: Freepix)
Step 1: The customer places their order and clicks on checkout.
Step 2: They are then directed via a payment gateway where they select the preferred payment option and enter the relevant information.
Step 3: The payment gateway directs the customer to the issuing bank or a 3D Secure page. 3D Secure requires customers to complete an additional verification step to prevent fraud. The customer would be required to authorize the transaction with the card issuer.
Step 4: On successful authorization, the bank verifies details such as the customer credentials and account balance to complete the transaction.
Step 5: The payment gateway sends a message back to the merchant. If the transaction fails, the merchant sends a ‘Transaction Failed’ message to the customer. If the transaction is successful, not only will a success message be displayed to the customer, the merchant will also receive a success message from the bank.
Step 6: The bank settles the amount with the payment gateway, which in turn settles with the merchant. Based on your payment gateway, any transaction fees will be levied on the amount before settling it with the merchant. We’ll cover this a little later in this article.
The entire transaction is carried out through ‘HTTPS’. All payment gateways require your store to use ‘SSL/HTTPS’ encryption. SSL is also a Google prerequisite to rank a website, i.e., using the ‘HTTPS’ in your URL.
Most hosting service providers offer free SSL certification. For example, SiteGround offers free SSL with the ‘Let’s Encrypt’ option.
If you’re planning to set up your online store, our article ‘How To Secure Your WordPress Website – Step By Step Guide’ includes everything you need to know.
Read full article here: https://wpastra.com/stripe-wordpress-setup
Comments
Post a Comment