Navigating Wix Payment Fees: A Comprehensive Analysis of Costs

In this article, we will explore the aspect of Wix transaction fees, delving into the pricing structure of Wix Payments. 

Key Takeaways

• Wix Payments facilitates secure transactions, supporting major credit cards, Apple Pay, and more. Its integration with PayPal provides customers with choice and familiarity.
• Wix Payments suits businesses with established customer trust and Wix websites. However, limitations in supported countries, chargeback fees, and restrictions on business categories should be carefully evaluated.

What’s Wix Payments?

Wix Payments serves as Wix’s proprietary payment solution, enabling Wix users to accept online credit and debit card payments, much like popular options such as PayPal and Stripe. Additionally, it supports iDeal, Sofort payments, and Pay Now by Klarna.

The key distinction lies in the fact that Wix Payments is purpose-built by Wix for its platform, ensuring seamless compatibility. This eliminates the need for third-party tools or plugins and allows users to manage transactions conveniently from a unified interface.

In essence, Wix Payments provides digital merchants with a secure, swift, and notably convenient payment avenue for customers, all managed through a centralized dashboard.

Pros & Cons

Pros

• Manage everything under one roof
• Choose your payout schedule
• Very low minimal amount per payment
• Better user experience for your customers
• Smaller bounce rate
• No chargebacks
• Various payment methods 

Cons

• A long list of prohibited businesses
• Tight deadline for setup
• Not available in every country
• Limited support

Wix Payment Fees: A Detailed Breakdown

To start using Wix Payments, you’ll need to subscribe to a Wix eCommerce or business plan, which offers various pricing options tailored to your needs, ranging from $16 to $159 per month. 

These plans provide different levels of features and support, allowing you to select the one that aligns with your business requirements and growth goals.

In Particular, you have two choices for taking payments with Wix: 

• Credit/Debit Card  with Wix Payments 
• Wix Point of Sale (POS). 

If your small business already uses Wix for its website, you can choose Wix Payments or Wix POS. Just remember, Wix POS is only accessible for businesses in the US, and you’ll need to undergo a verification process to get started with point-of-sale payments.

Even though the processing fees are listed as 2.9% + $0.30, it’s a bit more intricate due to the dependence on the payment method your customers use. Each method comes with its own distinct processing fee. Let’s delve into the specifics below.

When considering the financial aspect, it’s important to note that Wix Payments:

• Doesn’t require any fees for usage.
• Comes with no setup charges.
• Doesn’t impose any costs for handling refunds or managing chargebacks.

Although it is said to be free, there are additional fees associated with it. For details, you should consider carefully reading the section below:

Processing Fees

Payment processing fees encompass the charges imposed on merchants for handling credit card and online payments made by customers. 

Wix Payments is notably free of transaction fees across its payment methods, setting it apart from many competitors. However, there is a standard processing fee applied to credit and debit card payments.

For credit and debit card transactions, Wix Payments levies a processing fee ranging from 1.9% to 2.9%, along with a fixed charge of $0.30. 

Setup Fees

Starting with Wix Payments involves zero setup fees, providing an easy entry point for accepting payments on your website. However, to use this service, you’ll need to subscribe to one of Wix’s paid plans.

It’s important to note that Wix offers great value for your investment. Considering this, coupled with the absence of extra setup fees for Wix Payments, opting for Wix as your online store platform proves to be an economical choice.

Refunds and Chargebacks

A chargeback occurs when a customer doesn’t recognize a transaction, receives an unsatisfactory product, or doesn’t receive the product at all. Unlike standard refunds, chargebacks involve the customer’s bank or payment network.

You can identify a refunded transaction labeled as “Chargeback” in your Wix Payments dashboard. You have the choice to accept or dispute this decision if you can prove the validity of the transaction. However, excessive chargeback requests might lead to account closure.

When issuing refunds in the U.S., a processing fee of 2.9% + $0.30 is applied. For instance, if you refund a $50 purchase, you’ll incur a fee of $1.45. Notably, the original $0.30 for the customer’s purchase won’t be returned to your account.

Wix Payments now imposes charges for handling refunds or chargebacks, arising from issues like faulty products or payment errors. The specific chargeback fee varies by region:

• Canada: $15.00
• European Union: €15.00
• Switzerland: ₣15.00
• UK: £15.00
• US: $15.00

Another Payment Methods Wix Payments Accept

Wix Payments provides you with the flexibility to receive payments through a range of major credit card options, allowing your customers to choose the payment method that suits them best:

• Visa
• Mastercard
• American Express
• Discover
• Diners
• CUP
• JCB
• Maestro
• iDeal
• Giropay

Moreover, Apple Pay is seamlessly integrated, automatically accessible to Apple users visiting your store. 

For those selling beyond the US, Wix Payments extends additional options. Merchants in Austria, Belgium, Germany, and Switzerland can facilitate payments via Pay Now by Klarna. In the Netherlands, iDeal is an available choice, while German merchants can leverage Giropay. It’s noteworthy, however, that none of these methods currently support US dollars as a currency option.

Using Multiple Payment Providers Alongside Wix Payments

Incorporating Wix Payments can effectively expand customers’ checkout options. The selection of payment providers to offer alongside Wix Payments varies by location. However, for US merchants, a combination of the following methods is possible:

• Wix Payments: 

Wix Payments serves as Wix’s in-house payment solution, enabling you to receive payments directly on your Wix website, eliminating the need for third-party intermediaries.

• PayPal:

By connecting your bank account, credit card, or debit card to your PayPal account, you can conduct secure online purchases from participating stores. 

As an intermediary, PayPal safeguards your payment information while facilitating transactions between your bank and merchants, enhancing overall security.

• Apple Pay

Apple Pay stands as Apple’s cutting-edge contactless payment innovation. Users can effortlessly hold their iPhone near a contactless card terminal and use their iPhone’s Touch ID fingerprint to confirm their purchase. 

For newer iPhones equipped with Face ID, a simple facial scan is sufficient for purchase authentication.

• AliPay (facilitated by Stripe)

Alipay, a digital wallet in China, boasts over a billion active users globally. Users can conveniently make payments online or via mobile devices using either login credentials or the Alipay app.

• Manual payments

Manual payment is a payment where the vendor is directly engaged in the transaction process, ranging from handling cash and giving change to collecting credit card details. 

• Wix Point of Sale (POS)

Wix Point of Sale (POS) payment is a feature that lets businesses accept in-person payments at their physical stores using various methods, seamlessly integrated with Wix’s platform.

What Countries and Currencies Do Wix Payments Support?

As previously mentioned, Wix Payments is subject to certain country restrictions. It is available in a specific set of 14 countries, each paired with their corresponding currencies. These supported countries include:

• Austria (EUR)
• Belgium (EUR)
• Brazil (BRL)
• Canada (CAD)
• Finland (EUR)
• Germany (EUR)
• Ireland (EUR)
• Italy (EUR)
• Lithuania (EUR)
• Netherlands (EUR)
• Portugal (EUR)
• Spain (EUR)
• Switzerland (CHF)
• United Kingdom (GBP)
• United States (USD)

It’s important to note that while Wix Payments provides a diverse range of currencies, its availability might not cover all regions. Compared to its competitors, Wix Payments’ range of supported countries and currencies is relatively narrow. 

PayPal, for instance, operates in over 200 countries, making Wix Payments potentially less ideal for international sales.

Who We Recommend Wix Payments For

Wix Payments is an excellent choice for sellers seeking a comprehensive solution to easily handle online transactions. It is suitable for businesses that enjoy a loyal customer base, where trust has already been established. 

What sets Wix Payments apart is its user-friendly method with the absence of fees. It integrates with other popular payment methods like PayPal, offering a versatile checkout experience. 

Customer Support

When you need assistance, Wix offers two methods to get in touch: you can submit a support ticket or request a callback.

Although Wix highlights 24/7 dedicated customer support as a perk of using Wix Payments, it’s essential to be aware that customer support availability in languages other than English varies based on working hours (you can find specific language-based working hours information on their provided resources).

To make the support process smoother and quicker, Wix encourages users to specify the category of the issue they need help with, helping them provide targeted solutions more efficiently.

Security and Compliance

Wix Payments offers a completely secure and compliant payment gateway, ensuring advanced online encryption, and adhering to strict compliance standards, such as PSD2 SCA and PCI-compliant processing. 

Additionally, HTTPS/TLS data encryption is available for website and app sales. Wix employs an AI-driven, rule-based risk system to mitigate the risk of common fraudulent attacks.

Comparison between Wix Payments vs PayPal

PayPal enjoys a wide global presence, being accessible in over 200 countries and accommodating 25 currencies, a considerable contrast to Wix Payments, which is available in 13 countries and supports 5 currencies. Transaction fees, however, come into focus. 

In the US, for instance, PayPal charges around 2.9% of the transaction value plus a fixed fee (around 30¢), varying based on the currency. Transactions from outside the US attract fees of 4.4% to 5.5%, in addition to the fixed fee.

Notably, PayPal applies variable fees (e.g., 3.4%+20p to 1.9%+20p) for non-US currencies, contingent on your monthly sales volume. Selling across multiple countries should warrant attention, as PayPal charges for currency conversion, potentially resulting in substantial extra costs.

While PayPal’s Buyer Protection benefits buyers, merchants could face frequent claims from customers, as PayPal tends to favor buyers over sellers in dispute resolutions.

Here are the detail table for comparing  Paypal and Wix Payment:

FAQs

Bottom Line

In wrapping up, understanding Wix transaction fees is key for a seamless payment experience. With fees ranging from 1.9% to 2.9%, plus $0.30, Wix Payments offers simplicity and flexibility.