Limitations of Shopify Payments for High-Risk Merchants
All of this makes WooCommerce an ideal environment for high-risk merchants that need custom payment processing. Start with a gateway such as Stripe Radar for WooCommerce or the Authorize.Net plugin, both quite able to provide fraud protection and earlier mentioned capabilities. If you come from a severely restricted industry, extensions like those for 2Checkout or PayFort have offshore plugins for WooCommerce with no coding. This Requirement would involve installing the payment module on your WordPress site, inserting the processor’s API credentials, and setting up risk settings. The checkout fields are completely open for WooCommerce as opposed to Shopify-add your in-house verification needs like ID uploads for high-value products.
When Third-Party Gateways Outperform
Specialized processors offer two primary differences from Shopify Payments: industry-specific underwriting, more risk-tolerant possibilities, and individualized fraud controls. Products such as PaymentCloud provide a plug-in to Shopify with increased chargeback notifications, 3DS2 enforcement, and multi-acquirer routing for better approval rates. Use of offshore gateways helps in bypassing US/EU banking constraints; however, these gateways require some technical hacks, such as redirecting checkout. Third-party processors can offer faster settlements (including same-day) and smaller reserves for settled merchants. The trade-off is increased fees (2.9% + $0.30 as opposed to Shopify’s flat 2.4%) and a cumbersome setup involving API configurations.
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