eCommerce

WooCommerce Rolls Out Payments Management Tool For Merchants

WooCommerce Rolls Out Payments Management Tool

The eCommerce platform WooCommerce is introducing a tool that will help its stores manage payments more easily.

“No more logging into a separate payment processor's website to track payouts or manage chargebacks. WooCommerce merchants can now manage their payments from their WooCommerce dashboard,” Paul Maiorana, general manager of WooCommerce, said in a statement on Tuesday (May 19). 

The platform was developed by Automattic specifically for WooCommerce stores, with the idea that seamless payments are an integral part of any digital commerce experience. WooCommerce has always offered numerous third-party gateways for its merchants, including Stripe and PayPal.

In an effort to improve the management of payments, WooCommerce started working on a native tool last year. The beta version was trialed at the start of 2020 and was met with great success, the company said. Now it is available for almost all WooCommerce stores in the U.S.

Among the new features is an integrated payments dashboard where merchants can handle charges, deposits and disputes.  

“I was always a fan of managing everything from one place, so when WooCommerce Payments came about, it was an easy switch. I like the seamless integration, the flow, the dashboard and the ease of downloading info and fixing disputes,” said R. Nick Walker, a WooCommerce merchant and owner of Cool Face Life. 

WooCommerce Payments can also help merchants reduce the issue of abandoned carts by allowing customers to pay with major credit cards without exiting the merchant’s online store.

There is no charge to add the service and no monthly fee to use it. The per-transaction rate is competitive: 2.9 percent plus $0.30 for cards issued in the U.S.

Additional tools are also being added, like subscriptions, wallets and instant deposits.

In the fall, GoDaddy started integrating with WooCommerce. The company said the new WooCommerce plan tier significantly simplifies the onboarding process for eCommerce sites by bringing together hosting services, WooCommerce, WordPress and integrated feature extensions into an automated, one-step-setup product.  

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NEW PYMNTS STUDY: ACCELERATING THE REAL-TIME PAYMENTS DEMAND CURVE – NOVEMBER 2020

About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.

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