The growth of the eCommerce segment is registered every year, and it will not be surprising if, in a decade, the majority of people switch to online shopping. Due to the rising popularity of eCommerce, online stores are facing increasing competition which they can beat only by offering a unique customer experience. Featuring cryptocurrencies as a payment method can be that feature which will make customers opt for your products instead of competitors’ offerings. If you host your online store on WordPress using WooCommerce, you are welcome to utilize NOWPayments’ plugin for accepting Bitcoin as payment.
Key Points:
- Bitcoin is a great choice for accepting it as payment for online merchants.
- NOWPayments’ WooCommerce plugin allows businesses to accept Bitcoin in an easy and inexpensive way.
- NOWPayments’ plugin can be deployed anonymously in a matter of several minutes.
Reasons to accept Bitcoin on WooCommerce
Low fees
NOWPayments’ WooCommerce plugin solution enables merchants to accept Bitcoin without spending a fortune on fees. NOWPayments charges clients only for the transactions it processes. It means that you will not have to pay for a subscription or any other type of fee except for transaction processing. The fees offered by NOWPayments are extremely inexpensive and start from 0.4% per transaction. Essentially, by accepting Bitcoin using NOWPayments’ plugin, you will not face exorbitant fees, which one may encounter when utilizing solutions by other crypto payment processing services. Moreover, the plugin fees are much lower than those charged by banks for money transfers.
Easy deployment
The plugin for WooCommerce by NOWPayments is more than easy to set up. Basically, it takes only a handful of steps which will not take more than 20 minutes of your time. There is also no need to invest in any kind of proprietary equipment. The plugin will run on any computer that you may use for managing your WooCommerce store. In many cases, crypto payment processing services require their clients to buy special terminals or other devices. This is not the path of NOWPayments since we want our tools to be flexible and deployable in any environment.
Automatic payment processing
Once you deploy your Bitcoin payment gateway using the special plugin, the payment will be processed automatically. In other words, you will not have to manually create invoices and send them to your clients. The plugin system will take care of it. The price of the order of your client will automatically be calculated. The price is updated every several minutes in order to respond to fluctuations in Bitcoin’s price. So, you will not have to worry about your clients intentionally trying to bring down the price of the order by waiting for the price of Bitcoin to drop.
Instant payouts
NOWPayments is a non-custodial service that does not hold the funds of its partners. After processing a payment, it sends it straight to the address of the merchant. Essentially, if you use the WooCommerce Bitcoin plugin from NOWPayments, you do not need to request your cryptocurrency to be paid out to you. NOWPayments does it automatically and instantly. At the same time, there is always an option of NOWPayments holding your funds if you wish to use it. Instant payouts mean that you are guaranteed to always stay in control of your cryptocurrency funds.
Anonymity
NOWPayments does not ask its partners to provide their identity details. You can simply enter your email address, the name of your company and create a password to start using NOWPayments’ WooCommerce plugin. At NOWPayments, we respect the privacy and confidentiality of our clients and provide them with the option of using our services anonymously. Yet, if you want to use our crypto-to-fiat conversion feature, you will be asked to undergo a KYC procedure. Still, if you want to receive your funds without converting them to fiat, you can do it privately.
Crypto Payment notifications
NOWPayments is continuously working on making its tools even more user-friendly, and in order to keep our partners updated on all the payments they receive, we have introduced a notifications feature. The system will automatically inform you every time about every payment made by clients of your online store. Additionally, information and statistics about all of the cryptocurrency payments received by your store will be shown in your NOWPayments account. Thus, you will be able to monitor and track all of the crypto activities of your business in an easy manner.
Step-to-step guide on how to accept BTC on your WooCommerce site
As already mentioned, in order to start accepting Bitcoin on WooCommerce using NOWPayments’ plugin, you need to take several steps. Here they are:
1. First, you will need to create an account on NOWPayments’ official website by following this link.
2. You will be asked to provide your Bitcoin public address (you can also choose other cryptocurrencies).
3. Then, you will need to generate your API key.
4. Next, go to the “Settings” section and generate your Instant Payment Notifications key to receive updates on all payments you receive.
5. Once you have your API key ready, go to this page to download the latest version of the WooCommerce plugin.
6. Download the plugin, open your WordPress account, go to Plugins tab on your WooCommerce admin panel and then select Upload Plugins.
7. Upload the nowpayments-payment-gateway-for-woocommerce directory to the /wp-content/plugins/ directory.
8. Then, in the same “Plugins” section, activate the NOWPayments plugin which you have installed.
Another way to activate the plugin is in the list of Plugins in the same Menu:
9. Then, In the WooCommerce “Settings” page go to the “Payment Gateways” (or “Payments” ) tab, then click “NOWPayments”.
9. Check “Enable NOWPayments”, click Manage and enter your NOWPayments API Key and IPN secret key.
10. Don’t forget to press “Save Changes“!
11. Congratulations, you now can accept Bitcoin as a payment in your WooCommerce store.
Let your clients know on social media that they have an option of paying using their Bitcoin funds.
Conclusion
Bitcoin is the most popular cryptocurrency in the world, which has already proven its value as a real currency of the future. You can integrate Bitcoin payments into your online store on WooCommerce using NOWPayments’ plugin.