Stripe stands out as one of the most flexible and reliable payment gateways seamlessly integrated into our platform. To gain a deeper understanding of its features and benefits, read more about it on our website: https://www.websell.io/best-payment-gateway
You can learn more about the benefits of Stripe here: https://www.websell.io/best-payment-gateways
How to set up Stripe as your payment gateway in WSM
Steps:
1. Sign up with Stripe: https://dashboard.stripe.com/register.
2. In WSM, go to Orders > Payment Processor Setup.
3. Click the big blue Connect to Stripe button. You’ll be redirected to Stripe to complete your account application.
4. Once the application is submitted and approved, your Stripe account will be live and ready to accept payments.
5. Set Stripe as your default payment gateway under Orders > Payment Processor Setup.
6. Click “Click here to change the default payment gateway" and select Stripe from the dropdown menu.
7. Click Make default and save your changes.
8. Disable your old payment gateway.
9. Place a live test order. Before testing, either clear your browser’s cookies or open your WebStore in an incognito/private window to avoid cached data interference.
After setup, monitor your Stripe transactions daily for at least one week to ensure everything is running smoothly and that no issues arise.
Stripe features
Stripe supports two-step card payments so you can first authorize a charge, then wait to settle (capture) it later. When a charge is authorized, the card issuer guarantees the funds and the amount held on the customer’s card for up to 7 days, or 2 days for in-person payments using Terminal.
If the charge isn’t captured within this time, the authorization is canceled and funds released.
The CVC (also referred to as CVV) is the three- or four-digit number printed directly on a card, usually on the signature strip or the front of the card. Radar includes a rule to block any payments that fail the CVC verification check.
AVS is an identity verification tool that allows businesses to detect and prevent potentially fraudulent credit or debit card transactions by comparing the billing address provided by a customer with the billing address on file for the card, to confirm they match. Businesses in the United States, Canada, and the United Kingdom use AVS to minimize fraudulent transactions and unnecessary chargebacks.
The Express Checkout Element gives you a single integration for accepting payments through one-click payment buttons. Supported payment methods include Link, Apple Pay, Google Pay, and PayPal.
When a payment is refunded, Stripe can automatically send a receipt to the same email address provided in the original charge.
Payment tokenization is a security technique that replaces sensitive payment information, such as credit card numbers, with a unique, random set of characters called a token. This process helps keep payment data safe during transactions, because the actual card information is not being used or stored.