How to Pick a Payment System For Your E-commerce Store

Apr 6, 2016 by Jesse Ness, Ecwid Team
Posted Apr 6, 2016 by Jesse Ness, Ecwid Team

With so many different options, you could spend hours pouring over the details of different providers.

We wanted to make this part of the process a little bit simpler for you, so we’ve gathered a few of the most popular payment systems that integrate with Ecwid, outlined some of the advantages and disadvantages, and even outlined the setup process for each one. Easy, right? Right.

If you’re looking for a payment system that’s not outlined here, please be sure to check out our full list of online payment systems that you can use in Ecwid.

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Credit Cards

Credit cards are by far the most popular method. Card payment online similar to the payment card in stores. Here’s what happens:

  1. The buyer chooses the payment card. The store sends it to the payment page and passes the order amount.
  2. The buyer puts in the card number, card name and CVV (the special security code on the back of the card.)
  3. Clicks “Pay,” and the money is debited from the card, the buyer is automatically returned to the store page and payment system informs the store: “Okay, the payment is accepted.” Money comes to your account on the same day.

NOTE: Before you choose an option(s) for credit card processing, it’s important to know that different processing companies have different fees and rates, typically on a per transaction basis. Be sure to know the fees before selecting an option, as well as from which countries you can accept payment. If you are selling products with restrictions (like guns, drugs, etc.) you may also be limited in your credit card payment processing options, as some companies do not permit these types of transactions.

Here are the most popular credit card payment options:

American Express

Thanks to our Amex Ecwid integration, you can set up an American Express payment gateway without having to write a single line of code into your site. This option is open to legal residents of the United States and its territories ages 18+ who are eligible cardholders.

Advantages: Securely accept credit cards directly on your site without having to redirect to a new portal at checkout.

Disadvantages: Only works for American Express card members with businesses within the United States.

How to set up in Ecwid:

1. Register a merchant account with American Express if you haven’t yet.
In order to accept credit card payments from your customers, you need an Amex merchant account. You can find more details on creation of a merchant account and apply for one here.

2. Set up your Amex merchant account In Amex merchant control panel
Before implementing Amex into your store, you first have to set up your Amex-account:

  • Log on into your Amex-account
  • Open the “Admin → Operators” tab and create a new Operator
  • Find the Operator’s API password in the Operator’s control panel. For that, login to that Operator (log out and log in using the created operator’s ID) and find an API password. It’s on the Admin tab under “Integration Settings”
  • If there is not a generated password, click the “Edit” button and generate your own password (please ignore the Password 2 field)
  • Copy the API password and save it somewhere.

3. Set up an Amex payment method in your Ecwid Control Panel

  • Go to Ecwid control panel
  • Open the “System Settings → Payment” page
  • Change the “Payment Processor” value of a payment method to “Amex”
  • Save the changes
  • Click the Amex`s “Account details” link
  • Enter the following details there:

Merchant ID (refers to the American Express Merchant ID that you are provided with after creating an Amex account)
 — API password (you got it on the step #2 of this instruction)
 — Transaction type (select “Authorize and capture” or “Purchase” depending on your type of AmEx account).

  • Save the changes and enable this payment method.

Bancomer/eGlobal

Bancomer is Mexico’s largest financial institution allowing users to accept payments in Mexican Pesos, Euros, and U.S. Dollars. This online payment method is idea for Spanish-speaking business operators and shoppers who are located in Mexico.

Advantages: Targeted to Spanish-speaking demographic and built-in capability to process Mexican Pesos as a form of payment.

Disadvantages: If your store’s currency isn’t the same as your Bancomer account’s currency, your payment gateway won’t work.

How to set up in Ecwid:

Create an account in the Bancomer system. Please contact the Bancomer support team for details on how to create a new account. Once the account is created you will get the credentials for Merchant Code, Secret Code and Terminal that should be used for payment method setup.

  1. Go to Ecwid control panel → System Settings → Payment page and choose “Credit card: BBVA Bancomer / eGlobal” payment processor for “Credit card” payment method
  2. Click “Apply”
  3. Click Bancomer’s “Account details” link. Enter your Merchant Code, Secret Key and Terminal number
  4. Save the changes and enable this payment method.

Stripe

Stripe is a customizable payment flow that’s optimized for both desktop and mobile. You can use this option as a business based in the U.S, Canada, UK, Australia, and Europe.

Advantages: 100+ currencies accepted with customizable checkout process, very easy setup with Ecwid.

Disadvantages: Not all countries are included.

How to set up in Ecwid:

  1. Enter your Ecwid control panel and go to System → Settings Payment page. Locate “credit card” under Payment Methods and click “Change” link under Payment Processor column. In the drop-down box find and choose Credit Card: Stripe. A setup window will open.
  2. Click Connect with Stripe button to proceed to the next step.
  3. You will be redirected to another window with a Stripe registration form. If you’re new to Stripe you should fill in the registration form and provide some details about your business. Click “Authorize access to this account” button to allow your Ecwid store to connect to your Stripe account.

    If you already have an account sign in through the link displayed in the upper right corner. Click “Connect by Stripe account” to grant permissions to your Ecwid store to connect with your Stripe account.

  4. That’s it. Your Stripe account is now connected to your Ecwid store.

You can check general settings for the activated payment method by clicking “Account Details” link next to Stripe on System Settings → Payment page of Ecwid control panel.

Your Stripe ID will be displayed in the settings along with other parameters of your Stripe account. Read the full terms associated with this payment method.

Square

Square is a payment processing gateway for U.S. and Canada-based merchants that allows users to make a payment directly on your site without having to navigate to an external portal.

Advantages: Fast, easy checkout process, which limits opportunities for buyers to second-guess their purchases.

Disadvantages: Limited to U.S. and Canada.

How to set up in Ecwid:

Square Payment Gateway pertains to an Ecwid merchant looking to use Square payments. If you are a Square merchant looking to create a synchronized online store from your Square inventory, please see this article.

  1. Log in to your Ecwid Control Panel → Navigate to Settings → Payment → Credit card, select [Credit Card: Square] in the dropdown menu and click “Enable”
  2. Click “Connect and Enable Square account”
  3. Be sure to enable the gateway by clicking “Enable” next to the gateway.

Read the full terms associated with this payment method.

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Electronic Payment Systems

Electronic Payment Systems are even faster than credit card. The buyer chooses a payment via electronic purse, is automatically redirected to the payment site, enters username and password, and confirms the payment. Then you get money into your account.

ePay

ePay is Scandinavia’s oldest and largest online payment processing solution for businesses large and small. This is a great option for online businesses based in Sweden, Norway, Denmark, Finland, Germany, England, and Iceland.

Advantages: Supports all payment methods, puts transaction costs on customers, accepts multiple currencies, supports multiple languages, and sends a email when payment is completed. No code needed for Ecwid integration.

Disadvantages: May not be the best payment processing option for non-Scandinavian based businesses.

How to set up in Ecwid:

  1. Open Ecwid, and go to the control panel
  2. Choose System Settings → Payment → Payment Methods in the menu
  3. Enable “Credit Card”. Choose Credit Card: Authorize.Net SIM by “Payment Processor”, and click “Apply”
  4. Click “Yes” to configure the payment method right away
  5. Click on “Account details”, and enter the following information:
    • API Login ID: Enter your merchant number here. You can find your merchant number in the ePay administration in the menu Settings → Payment system.
    • Transaction Key: Put at 1.
    • MD5 Hash Value: Enter the same key you’ve entered at “MD5 security check” in the ePay administration in Settings → Payment system.
    • Transaction Type: If you choose “Authorize only”, you have to capture the payments manually in the ePay administration. If you chose “Authorize and Capture”, the payment is captured as soon as it is completed. Please note that you can only use this setting if the customers receive their goods immediately (e.g. downloads or services).
  6. Click on “Advanced settings”, and change “Endpoint URL” to: https://ssl.ditonlinebetalingssystem.dk/integration/ecwid/Default.aspx
  7. Ignore the setting “Enable test mode (no charges)”
  8. Click the “Save” button, and press “Save” again
  9. Click on “Save” in the top right corner.

The payment module is installed, and you can make a purchase in your shop to see of it works. Read the full terms associated with this payment method.

PayPal

Ecwid works with a suite of PayPal solutions such as Standard, Express Checkout, Advanced, Payflow Link, and Payments Pro. That being said, there are a variety of ways you can approach setup—but we’ll look at PayPal Standard as an example.

Advantages: Seamlessly integrates with online sites for fast, easy payment and 100% secure checkout. Allows users to make purchases in a variety of currencies. One of the most versatile payment processing options.

Disadvantages: PayPal has a lengthy terms of service, and has the ability to freeze your account at almost any time. There is also a blurred line on what PayPal deems as “obscene” material, which can restrict the sale of certain products they deem as inappropriate.

How to set up in Ecwid:

1. Ecwid Control Panel

  • Go to System settings → Payment page.
  • Find PayPal payment method.
  • Click “Account details” link in the Payment Processor column. A popup window will appear.
  • Insert your PayPal account’s email address. Save the changes.
  • Enable this payment method and save the changes once again.

2. PayPal backend

  • Log in to your PayPal account.
  • Proceed to My account → Profile → My selling tools
  • Find Instant Payment Notifications in the settings link and click “Update”. Click “Choose IPN Settings” button and select Receive IPN messages (Enabled) option. Type in the following URL in “Notification URL” field: http://app.ecwid.com/paypalstandard/STOREID where STOREID is your actual Store ID. For example: http://app.ecwid.com/paypalstandard/1003. Save the changes.
  • Also we highly recommend enabling the “Auto Return” option. You can find it on Profile → My selling tools → Website Payment Preferences page. Ecwid sends the necessary value of the Return URL in each request to PayPal.
  • Set up encoding preferences. Open Profile → My selling tools → PayPal button language encoding” page. Press the More Options button. Then set Encoding to UTF-8, and Do you want to use the same encoding for data sent from PayPal to you (e.g., IPN, downloadable logs, emails)? to Yes. Save the changes.
  • If you have Premier or Business PayPal account, go to Profile → My selling tools → Shipping Calculations and click Update. Then select the checkbox next to the shipping method for a specific currency. Click “Edit” button. Set Use the shipping fee in the transaction instead of my calculator’s settings to Yes. Click “Save Changes” button. Perform these steps for each shipping method set in your PayPal account. If you don’t have any shipping methods on this page, just skip this step.
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Cash on delivery

When this payment processor is used, a customer is not asked for any payment details at checkout aside from the standard address form. You can use Offline basic for any custom offline payment option you want. For example, it can be used for setting up the following payment methods in your store.

How to set up in Ecwid:

  • Open your control panel and navigate to Settings → Payment → Payment methods
  • Choose one of the existing offline payment options in the list (they all have “Offline Basic”, “Offline Check” or “Purchase Order” in the payment processor column)
  • If there isn’t an offline payment option you’d like to use, just select one of the existing Offline basic” option — you will be able to customize it
  • Name the option as you want (e.g. Cash on delivery) — for that, click on the payment method name and put the wording you like
  • (Optionally) set instruction for customer that they see at checkout upon selecting this payment method. In order to do that, click the “Instruction for Customer” link and enter instruction text. Details
  • Enable the payment method by clicking the “Enable” link in the right column
  • Save the changes.
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Purchased Orders and Checks

Purchased orders allow your customers to buy your items using a document issued by a buyer to a seller that notates the types, quantities, and agreed prices for products or services. Essentially, it’s a kind of contract between you and your buyer. When using these, the customer is asked for a PO number, Company name, Buyer’s full name and Job position at checkout. They are then electronically transmitted over the Internet.

Offline check payments require the check Owner’s full name, checking account number and bank routing number. You can use them for any kind of check payments you like.

Picking The Right Payment System: The More the Merrier

As you can see, there are many, many different options to consider–but the bottom line is that you should use as many payment options as possible so your clients have a wide variety of options.

For instance, it’s good to have PayPal as a payment method, but some people might not have a PayPal account. They want to pay via credit card instead. When you enable multiple payment options for users, you help them complete the checkout process as quickly and painlessly as possible–and via the option that best suits their unique needs.

Still Looking for an Online Payment Option?

If you didn’t find what you were looking for in this list, be sure to explore the countless other integrations we have to offer. The right payment processing resource will depend on your location, demographic, and unique business needs, so be sure to take the time to fully explore your options.

About The Author
Jesse is the Marketing Manager at Ecwid and has been in e-commerce and internet marketing since 2006. He has experience with PPC, SEO, conversion optimization and loves to work with entrepreneurs to make their dreams a reality.

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