4 best Payment Gateways to Use With WooCommerce for recurring payment

What is WooCommerce recurring payment ?

WooCommerce recurring payments is a feature that allows you to set up automated, scheduled payments for your products or services. This feature is particularly useful for businesses that offer subscriptions, memberships, or payment plans, as it eliminates the need for customers to manually make a payment every time a payment is due.

With WooCommerce recurring payments, you can set up payment schedules based on various criteria, such as daily, weekly, monthly, or annually. You can also set up trial periods, free trials, or introductory pricing to entice customers to sign up for your subscription.

Recurring payments in WooCommerce can be set up using a variety of payment gateways, such as PayPal, Stripe, and Authorize.Net. Once a customer signs up for a recurring payment plan, their payment information is securely stored, and payments are automatically processed on the scheduled payment dates.

This feature can be especially beneficial for businesses that want to increase revenue and customer retention by offering subscription-based products or services. By offering customers the convenience of automated payments, you can reduce the likelihood of payment errors or missed payments, while also improving the customer experience.

4 best Payment Gateways to Use With WooCommerce for recurring payments

When it comes to accepting payments for recurring orders in your WooCommerce store, choosing the right payment gateway can make a significant difference. Not all payment gateways support recurring payments, and those that do often have different fees, features, and integrations that may affect your business’s bottom line. In this article, we’ll explore seven of the best payment gateways to use with WooCommerce recurring payments, including their pros, cons, and pricing.

  1. PayPal:- PayPal is one of the most popular payment gateways in the world and an excellent choice for businesses that want to accept recurring payments. PayPal’s subscription feature allows you to set up automatic payments, charge customers on a recurring basis, and manage subscriptions from your PayPal dashboard. PayPal supports multiple billing frequencies, including daily, weekly, monthly, quarterly, and annual, and lets customers cancel their subscriptions at any time.One advantage of using PayPal for recurring payments is that it doesn’t charge any setup fees or monthly fees, and its transaction fees are relatively low compared to other payment gateways. PayPal charges a flat rate of 2.9% + $0.30 per transaction for domestic payments and 4.4% + a fixed fee based on the currency for international payments. However, PayPal’s conversion rates can be higher than other payment gateways, and some customers may not like being redirected to PayPal’s website to complete their payments.
  1. Stripe:- Stripe is another popular payment gateway that supports recurring payments and has become a favorite among developers and merchants. Stripe’s subscription feature lets you set up automatic payments, manage subscriptions, and bill customers on a recurring basis. Stripe also supports multiple billing frequencies, such as daily, weekly, monthly, quarterly, and yearly, and lets customers cancel their subscriptions at any time.

    One of Stripe’s advantages is that it provides an excellent developer experience, with comprehensive documentation and robust APIs that make it easy to integrate with your website. Stripe also supports multiple payment methods, including credit and debit cards, ACH transfers, and digital wallets like Apple Pay and Google Pay. However, Stripe’s transaction fees can be higher than PayPal’s, with a flat rate of 2.9% + $0.30 per transaction for domestic payments and an additional 1% fee for international payments. Stripe also charges an extra 0.5% fee for recurring payments.

  1. Authorize.Net:- Authorize.Net is a veteran payment gateway that has been around for over 20 years and is a popular choice for businesses that want to accept recurring payments. Authorize.Net’s subscription feature lets you set up automatic payments, manage subscriptions, and bill customers on a recurring basis. Authorize.Net supports multiple billing frequencies, including daily, weekly, monthly, quarterly, and yearly, and lets customers cancel their subscriptions at any time.

    One advantage of using Authorize.Net for recurring payments is that it provides robust fraud detection and prevention tools that can help protect your business from chargebacks and fraud. Authorize.Net also offers competitive transaction fees, with a flat rate of 2.9% + $0.30 per transaction for domestic payments and an additional 1.5% fee for international payments. However, Authorize.Net charges a $25 monthly gateway fee and a $10 monthly statement fee, which can add up for small businesses.

  1. 2Checkout:- 2Checkout is a global payment gateway that supports recurring payments and is an excellent choice for businesses that sell digital goods or services. 2Checkout’s subscription feature lets you set up automatic payments, manage subscriptions, and bill customers on a recurring basis. 2Checkout supports multiple billing frequencies, including daily, weekly, monthly, quarterly, and yearly, and lets customers cancel their subscriptions at any time.

    One of 2Checkout’s advantages is that it supports multiple payment methods, including credit and debit.