Getting Paid
The most important bit!
Magento has in-built support for a number of different payment methods and it is possible to specify a minimum or maximum order value for each method, outside which that payment option won't be shown to the customer at the checkout.
Your initial installation will be configured with any of the offline payment methods that you require and also with PayPal (you will need a PayPal business account) and if you sign-up for an Authorize.net or SagePay account we will also configure that interface for you so that you can take secure on-line Visa or Mastercard payments through your site.
There are also numerous add-on payment modules available, so if you have a particular payment processing requirement then it is very unlikely that it can't be supported for a small additional fee.
Please contact us if you would like to discuss your particular requirement.
[Return to Tour]The following payment methods do not necessitate a security certificate to be installed on your server and will be configured for you in your initial installation, as required:
- Cheque
- Bank Transfer
- Cash on Delivery
- Purchase Order
In all cases you specify the information to be displayed to the customer, such as the address to send the cheque to, or your bank details.
Orders placed using offline payment methods are captured but remain with a Pending status until you have received the payment and manually identify that the order has been paid.
The advantages of offline payment methods are that:
- the customer can feel more secure because they are in control of payment, particularly for more expensive purchases.
- there are usually minimal fees involved.
The disadvantages are that:
- customers have to act to complete their purchase, which can lead to order abandonment.
- there is more administration required on your part to track and confirm payments.
PayPal payments are seamlessly integrated into Magento.
A PayPal business account, which is free to set-up, enables the integration to be activated in your shop and gives customers the ability to pay, either from the security of their personal PayPal account, or via a credit or debit card payment, if you choose to allow that.
During checkout the customer is redirected to the secure PayPal site where they have to login to their PayPal account and authorise payment, or enter their card details.
If you choose The PayPal Express solution the familiar PayPal button can be positioned either on the product pages, on the basket page, or both.
The pages that your customers see on the PayPal servers can be customise by adding your logo and changing page colours to provide a degree of integration with your shop
The advantages of this solution are that:
- PayPal is widely recognised and trusted,
- PayPal payments do not require the customer to input card details.
The disadvantages are that:
- customers have to leave your shop to make payment which can lead to high check-out abandonment,
- customers without a PayPal account can be put off by this option, despite the fact that you can configure your PayPal account to offer them the ability to pay by credit or debit card,
- Paypal's fees can be quite high,
- customer disputes can result in PayPal witholding funds for a considerable time, until the dispute is resolved according to PayPal's strict guidelines.
NB. PayPal also provides an all-in-one payment solution to established on-line businesses, Paypal Payments Pro, which, with a security certificate installed, will provide the ability for you to take card payments directly in your shop. This solution is also integrated into Magento and available for configuration, if required.
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Connecting an online shop directly to the card payment processing networks to accept card payments is difficult, expensive and beyond the resources of most small or medium sized businesses. However, you can easily connect your shop to a Payment Gateway, which provides the complex infrastructure and security necessary to ensure secure, fast and reliable transactions. There is a Magento module available for almost all Payment Gateways.
Payment Gateways work in conjunction with a Merchant Account, which is just a particular type of bank account set up to accept the card payments. If you already accept credit cards you will already have a Merchant Account but you will need to set-up a separate Merchant Account to accept on-line card payments, which you should be able to do easily via your existing bank. Alternatively, many of the Payment Gateways, including those built-in to Magento (Authorize.net and PayPal Payments Pro) offer a Merchant Account bundled with their offering.
Your shop is supplied with a security certificate and ready to accept online card payments.
The advantages of integrating secure card payments are that:
- card payments can be made quickly and securely within your checkout process, resulting in a much lower rate of checkout abandonment,
- card processing fees are usually relatively low compared to PayPal fees.