Instant payments are financial transactions that are processed in real time or within a very short period. They are characterized by high security, as they use advanced encryption and authorization technologies. Their main advantage is instant execution, meaning that the money is available in the recipient’s account within a few seconds or minutes.

Fast payments are also convenient for another reason. They are often integrated with banking apps or virtual wallets, making the process intuitive. This also saves time.

Examples of instant payment services include BLIK, T-pay operators, Przelewy24, PayPal, and others.

WooCommerce and Instant Payments

In WooCommerce, instant payments refer to the integration of external payment gateways that enable the instant processing of online transactions. To use them, we need to sign an agreement with the fast payment provider, install the appropriate plugin (which is often not found in the official WordPress repository but on the provider’s website), and configure it.

The configuration of the payment plugin depends strictly on the provider, so it’s important to review the relevant documentation. Before going live (on a store that is already operational and visible to customers), it’s a good idea to test payments in a test environment to ensure everything is working correctly.

Advantages and Disadvantages of Using Instant Payments in WooCommerce

The advantages of instant payments include:

• Increased conversion rates due to a fast and easy-to-use payment method
• High transaction security
• Branding benefits – stores offering fast payments generally undergo thorough verification by the payment operator (which also requires adjusting the store’s terms and conditions)
• Fast receipt of payments and the possibility of integrating with automatic digital product delivery
• Potential additional benefits through affiliate programs (e.g., check the T-pay affiliate link)

As for the disadvantages, they are:

• Higher commissions than traditional bank transfers (it’s worth checking the fee table)
• The need for regular updates and ensuring compatibility with WooCommerce and WordPress versions

However, the benefits far outweigh the drawbacks, making it worthwhile to consider having a WooCommerce store with instant payments.