How to Reduce Stripe Transaction Fees in WordPress
Running an online store is all about keeping your profits high while minimizing unnecessary costs. For many WordPress site owners, Stripe is the go-to payment gateway because it’s simple, reliable, and integrates seamlessly with WordPress. But here’s the catch: those pesky transaction fees can add up faster than you’d think. Interested in cutting those costs? You’re in the right place!
In this guide, we’ll share three expert tips to help you slash Stripe transaction fees in WordPress—all while keeping your customer experience top-notch. Ready to save more of your hard-earned revenue? Let’s dive in.
Why Focus on Reducing Stripe Transaction Fees?
Stripe charges a standard transaction fee of 2.9% + 30¢ per successful credit card transaction in most countries. Small and large businesses alike can quickly feel the sting of these fees, especially if you deal with high-volume sales or low-ticket items.
- Example: A store generating $10,000 in monthly sales ends up paying $290 + 30¢ per transaction in fees. Add that up over a year, and it’s a large dent in your profits.
- For businesses with lots of smaller transactions, the fees pile on even faster.
Reducing these fees helps you keep more revenue and reinvest it into things like marketing, better plugins, or scaling your operations. Want expert help implementing fee-saving strategies? Get in touch with us today.
1. Accept ACH Payments on Your WordPress Site
If your business has customers in the U.S., ACH (Automated Clearing House) payments are a game-changer. Unlike Stripe’s standard 2.9% + 30¢ fee, ACH payments come with a flat fee of 0.8%, capped at $5 per transaction. It’s a smart move for high-value transactions.
How It Works:
- If a customer buys an item for $1,000 via a credit card, the Stripe fee is $29.30. Through ACH? Just $5. That’s a $24.30 saving on one transaction!
- 🚀 The bigger the transaction, the more you save.
To accept ACH payments, we recommend using WP Simple Pay. It’s a Stripe-powered plugin with user-friendly features that allow you to accept ACH payments with just a few clicks.
Adding ACH Payments in WordPress:
- Install and activate WP Simple Pay. Don’t know how? Contact us today for help.
- Set up your payment form using the ‘ACH Direct Debit Payment Form’ template.
- Customize the form’s payment options—ensure ACH is enabled.
- Publish the payment form on your site to start accepting ACH payments and saving fees.
If you run an online store with WooCommerce, ACH integration is just as easy. Using a plugin like Payment Plugins for Stripe WooCommerce allows you to quickly enable ACH payments for your WooCommerce checkout process.
2. Accept Bacs Direct Debit (For UK-Based Customers)
If you cater to customers in the UK, consider offering Bacs Direct Debit as a payment option. It’s similar to ACH but tailored for UK transactions. With Stripe, Bacs payments only cost around 1% per transaction, capped at £2—making it an ideal option for reducing fees.
Bacs in Action: A £500 payment via a credit card incurs about £14.80 in fees. Switch to Bacs, and that fee drops to just £2.
Setting Up Bacs Payments:
Ready to add this cost-effective method to your site?
- Use WP Simple Pay to create a dedicated Bacs Direct Debit Payment Form.
- For WooCommerce, a plugin like Stripe Payment Plugin for WooCommerce simplifies the process.
- Customize payment options so that Bacs is activated and visible at checkout.
Need professional help integrating these payment methods into your site? Request a free consultation with us.
3. Upgrade to Premium Payment Plugins
Free payment plugins often pile on additional fees beyond Stripe’s standard costs, usually 1% or more. By upgrading to premium plugins, you can avoid these extra fees and only pay Stripe’s base fee.
Popular premium plugins include:
- WP Simple Pay Pro for standalone payment forms.
- Easy Digital Downloads Pro for digital product stores.
- WPForms Pro for collecting one-time or subscription payments.
- YITH WooCommerce Stripe for WooCommerce stores selling physical products.
With premium plugins, you also get access to added features like better reporting, design customizations, and advanced integrations. Explore how we can assist you in selecting the right premium plugin.
Bonus Tip: Pass Fees to Customers
If reducing fees isn’t enough, consider passing the Stripe transaction fees on to your customers. Many businesses do this by adding a small surcharge to the total order amount. While this helps you maintain your profit margins, it’s crucial to remain transparent about the added cost.
Pro Tips:
- Add a note at checkout explaining the fee. This builds trust and reduces surprises.
- Test customer reactions before implementing this change sitewide.
Next Steps: Take Action Today
Stripe fees don’t have to eat into your revenue. Whether you’re optimizing payment methods, upgrading plugins, or passing fees onto customers, every dollar saved adds up. Our team specializes in WordPress integrations and eCommerce optimizations, helping businesses like yours cut costs while improving customer experience.
Looking for tailored solutions? Contact us today for expert advice or request a free quote. Let’s make your WordPress store more cost-effective and profitable!
