Accept crypto payments with WooCommerce
This article is dedicated to exploring the integration of cryptocurrency payments into WooCommerce stores using Plisio. As the digital landscape evolves, the way we transact online continues to shift, with cryptocurrencies emerging as a significant player in e-commerce. This piece aims to guide merchants through the process of enabling crypto payments, leveraging the robust capabilities of Plisio within the popular WooCommerce platform.
In recent years, cryptocurrencies have transitioned from being a niche digital asset to a mainstream method of transaction, especially in the realm of online commerce. Their growing acceptance and increasing user base make them an unavoidable aspect of modern-day e-commerce strategies. This article emphasizes the importance of staying ahead in the rapidly evolving digital economy by integrating cryptocurrency payments, which not only broadens your customer base but also enhances the flexibility and efficiency of financial transactions.
What are the business benefits of cryptocurrency?
Cryptocurrencies offer a range of appealing benefits for payments, being faster, more cost-effective, simpler, more private, or a combination of these attributes. For merchants, incorporating crypto payment options circumvents many challenges associated with traditional payment methods like credit cards or bank transfers, while unlocking unique opportunities.
- Instant and Borderless Payments
Cryptocurrency transcends geographical boundaries, ensuring that the location of customers doesn't affect transaction speed or cost. Most blockchain transactions are processed rapidly, often within seconds. Advanced crypto payment services like Plisio expedite even typically slower Bitcoin and Ethereum transactions, reducing waiting times significantly. These transactions are transparently recorded on public ledgers, offering real-time tracking.
- Bypass Currency Conversion Hassles
For businesses engaging in international trade, dealing with multiple currencies can be cumbersome, involving delays and extra costs. Cryptocurrency eliminates cross-currency settlements, streamlining transactions devoid of the complexities of fiat currency exchange rates and procedures.
- Lower Transaction Fees
Traditional payment methods often come with hefty fees. In contrast, crypto payments generally incur significantly lower costs. While third-party processors might charge a fee, it’s usually much lower than traditional payment methods, often not exceeding 1% of the transaction volume.
- Elimination of Fraudulent Chargebacks
E-commerce businesses often face wrongful chargebacks, which can be costly and time-consuming to dispute. Cryptocurrencies offer a solution, as chargebacks are impossible, thus protecting merchants from this type of fraud.
- Attracting a New Customer Demographic
Cryptocurrencies appeal to a specific market segment, often including tech-savvy and younger consumers who may spend more and become repeat customers. Accepting crypto can open your business to this growing and increasingly affluent customer base.
- Marketing Advantages
Accepting cryptocurrencies can be a significant marketing draw, attracting customers who prefer using their digital assets for transactions.
- Greater Control Over Finances
Crypto payments put businesses in direct control of their earnings. Merchants can choose to keep their payments in cryptocurrency or convert them to fiat currency, offering flexibility in managing their finances.
- Ease of Implementation and Affordability
Setting up a cryptocurrency payment system can be straightforward and cost-effective. Services like Plisio offer comprehensive solutions for accepting various cryptocurrencies, handling aspects like overpaid and underpaid orders, and providing tools for efficient payment processing.
Incorporating cryptocurrency payments offers businesses a competitive edge, reduced transaction costs, fraud protection, and access to a broader, more diverse customer base. It represents a forward-thinking approach, aligning with the evolving preferences of a growing segment of the consumer market.
Plisio is a leading name in the cryptocurrency payment gateway sector, established in 2019 to bridge digital currencies with online commerce. The platform empowers merchants to accept a diverse range of cryptocurrencies, showcasing its commitment to embracing the evolving landscape of digital finance.
Features of Plisio:
- Direct Payments: Plisio.net ensures that payments are transferred directly into your wallet, providing a seamless and direct transaction flow.
- Wide Range of Cryptocurrencies: Merchants can accept all top cryptocurrencies such as ETH, BTC, LTC, DASH, TZEC, DOGE, BCH, XMR, USDT, USDC, SHIB, BTT, TRX, BNB, BUSD, ETC, catering to a wide customer base.
- No KYC Procedures: One of the standout features is the absence of KYC (Know Your Customer) procedures. This facilitates a quicker setup and ensures privacy, as no third parties are involved.
- No Limits on Transactions: Merchants can create an unlimited number of payment requests, offering flexibility and scalability in managing transactions.
- Global Availability: The plugin is available worldwide, without any geolocation restrictions, making it a truly global solution for cryptocurrency transactions.
- Minimal Fees with SegWit Protocol: Plisio employs the SegWit protocol, optimizing transaction fees by selecting high-priority transactions with lower network fees.
- Crypto and Fiat Display: The platform uniquely offers the capability to display prices in both BTC and fiat currency, converted into BTC. This feature enhances the user experience by providing price clarity in familiar terms.
- White Label Solution: allowing businesses to utilize the payment gateway under their own brand. This feature enables companies to maintain brand consistency and leverage the advanced technology of Plisio.net while presenting the service as their own to their customers.
WooCommerce extension for crypto payments
WooCommerce is a customizable, open-source e-commerce platform built on WordPress. It is designed for small to large-sized online merchants using WordPress. This powerful plugin turns a WordPress website into a fully functional e-commerce store, providing a range of features and extensive flexibility to both store owners and developers.
Advantages of Integrating with Plisio
- Security: Plisio enhances the security of transactions in WooCommerce stores. It uses advanced encryption and security protocols to ensure that each transaction is safe and secure. By integrating Plisio, merchants add an extra layer of security to their payment process, protecting both their interests and those of their customers.
- Easy Integration: Integrating Plisio with WooCommerce is straightforward. The Plisio plugin can be easily installed and configured within the WooCommerce environment, allowing merchants to start accepting cryptocurrency payments quickly. This integration process is designed to be user-friendly, requiring minimal technical knowledge.
- Economic Benefits: By using Plisio, merchants can benefit from lower transaction fees compared to traditional payment methods, only 0.5%. This economic advantage is significant, especially for businesses looking to maximize their profits while offering competitive payment solutions to their customers. Furthermore, the adoption of cryptocurrencies can attract a wider range of customers, potentially increasing sales.
- Global Accessibility: One of the key benefits of integrating Plisio with WooCommerce is the ability to accept payments from anywhere in the world. Cryptocurrencies know no borders, making it easier for merchants to expand their customer base globally without worrying about the limitations and fees associated with conventional currency conversions and cross-border transactions.
How to Start Accept Crypto Payments with WooCommerce?
If you haven’t signed up on Plisio yet, you can create an account on https://plisio.net/account/signup.
Download plisio-gateway-for-woocommerce.zip. Go to Admin » Plugins » Add New in the admin panel.
Upload plisio-gateway-for-woocommerce.zip on the Upload Plugin page.
Activate the plugin through the Plugins menu in WordPress.
Enter Secret key data to WooCommerce Plisio Plugin Settings: Admin » WooCommerce » Settings Checkout tab » Plisio. Turn the "On" checkbox in the Plugin section. Don't forget to also check the “Enable Cryptocurrency payments via Plisio” checkbox in WooCommerce-Plisio Plugin settings.
Please, remember that it’s a good practice to back up your database before installing plugins. Make sure you create backups.
Your Plisio WooCommerce plugin is fully operational! From now on you can accept all available cryptocurrencies in a matter of a few moments.
If you need any help or have questions left, please, contact the Plisio support team via Live Chat on the website. We’ll be happy to help!
Please note that Plisio also offers you:
- Zen Cart
- Easy Digital Downloads
6 libraries for the most popular programming languages
19 cryptocurrencies and 12 blockchains
- Bitcoin (BTC)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Tron (TRX)
- Litecoin (LTC)
- Dash (DASH)
- DogeCoin (DOGE)
- Zcash (ZEC)
- Bitcoin Cash (BCH)
- Tether (USDT) ERC20 and TRX20 and BEP-20
- Shiba INU (SHIB) ERC-20
- BitTorrent (BTT) TRC-20
- Binance Coin(BNB) BEP-20
- Binance USD (BUSD) BEP-20
- USD Coin (USDC) ERC-20
- TrueUSD (TUSD) ERC-20
- Monero (XMR)