Wix Payments: Should Your Business Use the Payment Gateway?

Wix Payments is Wix’s built-in payment solution, enabling businesses to easily set up and accept payments on their store.

With this tool, you can:

• Manage your payments from your dashboard, including orders, subscriptions, bookings, and more
• Quickly set up multiple payment methods at once. That way, you don’t need to go through different third-party payment providers yourself
• Use Wix’s optimized checkout to boost your store’s conversions
• Connect your store with Wix’s Point of Sale systems (U.S., Canada, and UK Wix Merchants only)

To get an idea of whether you should use Wix Payments, take a look at its key pros and cons of Wix Payments below:

Wix Payments has its own approach to processing fees, refunds, and chargebacks, which I’ve explained below:

1. Processing Fees

With Wix Payments, there’s one fixed processing fee for all credit and debit cards (excluding American Express) and popular payment methods in the US: 2.9% + $0.30 per transaction.

However, this processing fee can differ slightly for certain payment types. Here are some examples:

• Wix Payments Point of Sale (POS): 2.6% + $0 per transaction
• Tap to Pay transactions: 2.6% + $0.20 per transaction
• American Express credit card: 3.7% + $0.30 per transaction
• PayPal: 3.49% + $0.49 per transaction
  • Pay Later: 4.99% + $0.49 per transaction
  • Venmo: 3.49% + $0.49 per transaction

2. Refunds

For refunds through Wix Payments, Wix doesn’t charge any additional refund fees. That said, you won’t get the initial processing fee from the transaction back. For example, if you refund a $50 purchase, the customer will get the full $50 refund back, but your original processing fee will be retained by Wix.

3. Chargebacks

For any chargebacks, you might face a chargeback fee of up to $15. This is when money is returned to a customer due to a situation like a defective product or payment mistake.

Thankfully, there’s a built-in dispute tool for Wix merchants to use, helping businesses monitor and handle chargebacks from the dashboard. If you win the dispute, the chargeback fee will be sent back to you.

If you’ve built your online store with Wix and want to set up Wix Payments next, you’ll need to follow this 10-step process first:

1. Check to see whether your business type and region are eligible – currently, Wix Payments is only available in 15 countries (including the US, Canada, and the UK)
2. Finish setting up your business account – let Wix know if your business is officially registered
3. Make sure you’re on a suitable Wix plan and publish your site – you’ll need a premium plan that permits selling online (these start from $29 per month)
4. Add your business name to your site so it’s clear to customers where they’re shopping
5. Add business details, such as an email address and phone number – this helps customers contact you
6. Make sure your product or service listings display up-to-date and accurate information
7. Add your business terms and conditions – the small print matters!
8. Reassure and inform your customers with policy information – for example, a privacy policy and refund policy to prevent any hiccups down the line
9. Help customers recognize purchases by updating your statement descriptor – this is the business name customers see when checking their bills
10. Review and test your checkout experience so customers don’t face any surprises during the user journey

How I Set Up Wix Payments in Practice

Setting up Wix Payments on your website is a little simpler than the 10-step guide in practice. When testing Wix myself, I found the process to be very quick. All I had to do was navigate to the “Getting Paid” section of my account dashboard and click “Connect & Setup”.

Afterwards, I clicked the button to “Connect Payment Method” and was immediately presented with a range of options, including Wix Payments. As you can see from the image below, Wix highlights this as a recommended option. I then clicked “Connect”, checked over any restrictions, and selected payment options for my customers.

The whole process of setting up Wix Payments from my Wix dashboard took roughly a minute.

Of course, the 10-step process is still relevant and necessary – you’ll need to review and add information to your Wix Payments settings. But the initial setup will take just a moment of your time.

Most importantly, your Wix Payments account must be verified before your business can receive payments. Without this approval, you risk losing sales and having payments refunded to customers. I recommend waiting until your account has been verified before allowing orders to be processed.

Who Should Use Wix Payments?

Multiple factors will influence whether your business should use Wix Payments or not:

💰 You can read our detailed Wix Pricing Review to get more information about each plan.

Wix Payments lets you accept payments from all major debit and credit cards, as well as popular payment methods, such as:

• Visa
• Visa Electron
• Mastercard
• American Express
• PayPal
• Discover
• Diners Club
• JCB
• Maestro
• UnionPay
• Apple Pay
• Google Pay
• Buy now, pay later solutions like Afterpay and Klarna

In addition to the above payment methods, you can take payments using Tap to Pay on iPhone and Android devices, alongside Wix POS.

Are There Other Payment Gateways?

While Wix Payments is the recommended payment gateway by Wix for efficiency and ease, you can choose from over 80 payment gateway options for your Wix website. These include:

• Stripe
• Square
• Alipay

These alternative options are great if your business type or region isn’t supported by Wix Payments at this time. You can also set up multiple payment methods, such as Wix Payments and Stripe. Both will appear on your checkout page, giving your customers the choice to pay using a method that best suits them.

What Are the Payment Processing Times?

Once you’ve settled on your payment methods, you can choose from three payout schedules: daily, weekly, or monthly. This can be changed at any time from your Wix Payments settings.

The processing time can take between two and five business days, depending on the customer’s payment method. Once processed and checked, you can expect the payout to land in your bank account within three to five business days – again, this is dependent on your chosen payout schedule.

If these slower processing times are a concern for you, I recommend looking at Shopify as an alternative, since you can receive your earnings within one to three business days instead.

Wix Payments is fully PCI DSS compliant, which is the highest information security standard for companies accepting credit card payments. In addition to this, you can expect the following security measures from the payment gateway:

• HTTPS and TLS data encryption to ensure a secure checkout
• Fraud attack detection with Wix’s AI and rule-based risk system, as well as a payout process that helps to monitor transactions
• 3D Secure 2 authentication – for EU card payments

According to MerchantSavvy, “cumulative losses in online payments due to fraud are expected to amount to $343 billion for merchants between 2023 and 2027.” So, having these protections in place is reassuring for businesses and customers, keeping everyone’s data private and secure.

If you’ve already built your store with Wix, I recommend using Wix Payments since it’ll be a valuable addition to your business. However, if you’re still shopping around, Shopify is the best ecommerce website builder based on our in-house research. It provides unparalleled sales features and dedicated business support, plus Shopify Payments is a better payment gateway overall.

Let’s see how Wix Payments compares to other builders and their payment gateways:

Based on the table above, Shopify still takes the lead thanks to improved rates on its more advanced plans and availability in more countries. Squarespace Payments falls behind due to its higher chargeback rates. However, it has expanded into a wider range of countries in recent years.

Having multiple payment methods in place gives businesses flexibility and customers choice when shopping, making Wix Payments the ideal solution for online stores. The payment gateway streamlines the checkout experience, eliminates transaction fees, and helps business owners navigate payments from a central dashboard.

You can use Wix Payments alongside familiar gateways, such as Stripe and Square, and it allows customers to pay directly on-site. However, Wix Payments isn’t as versatile as other processors, such as Shopify Payments, due to the limited range of countries and currencies.

Still, Wix Payments is a great way to remove friction from the checkout process – it’s easy to set up, convenient, and more affordable to access than alternatives.