Payment Methods in Magento 2
The trade is all about payments and purchases. And eCommerce is not an exclusion. Magento 2 platform enables you to implement a bunch of payment methods that can be easily activated to use in your store. Even the default methods let you receive payments in the number of ways. Let’s check the available payments methods.
Jump to the «Stores» tab and choose the «Configuration» option. Then, expand the «Sales» menu to select the «Payment Methods» section. All the settings for the payment methods configuration in Magento 2 are provided here.
At the beginning, you should set up the «Merchant Location» option. You may need to specify the country here. If nothing is set, then Magento 2 will use the default country from the general config. When done, we can switch to payment methods in Magento 2. They are:
- PayPal All-in-One Payment Solutions;
- PayPal Payment Gateways;
- PayPal Express Checkout;
- Check / Money Order;
- Bank Transfer Payment;
- Cash on Delivery Payment;
- Zero Subtotal Checkout;
- Purchase Order;
- Authorize.net Direct Post.
As you can see, there are a lot of methods to choose from. Lets look them through to figure out the details.
Braintree is a PayPal company that provides you with a wide range of payment methods in one service. By activating this method, you will be able to receive payments via different credit and debit cards and PayPal. This is the most convenient method.
PayPal in Magento 2 is divided into three different payment categories. Each of them has sub methods that should be configured individually. In general, you should be a PayPal user to equip your store with this payment methods.
Check and Money Order can also be a solution for your Magento 2 store. If you plan to accept such payments, you should enable this method and define the key options, like «Make the Check Payable to» and «Send Check to». You have to fill in the name of the receiving party and the ad-dress, where the check should be sent.
Bank Transfer Payment allows you to receive payments from your customers’ bank account to your own bank account. You need to enable this method, define banks to receive payments from and set up the instructions, that customer will follow.
Cash on Delivery Payment is the most old-fashioned way of payment. The customer pays in cash, when you delivering an order. This method is as simple, as good, but a bit rusty.
Zero Subtotal Checkout is used, when order’s subtotal is equal to zero, in other words, customer don’t need to pay anything for the order. Such situations is actually possible, when a gift card or coupon is used or the price of the product is zero and shipping is free.
Purchase Order is created in the accounting system of the customer and then is used to pay in your store with the help of unique purchase order number. Enable this payment method first to start receiving purchase orders.
And the last method is Authorize.net Direct Post. It requires a virtual or real card terminal to im-plement it. There are two possible scenarios of usage of this method. First is called Authorize Only. The request to the payment system in order to get the money should be sent manually. The second scenario is Authorize and Capture and it simplifies the whole process, because the payment goes to your account without additional actions. See more about Magento 2 Authorize.net payment configuration
As you can see above, there are plenty of payment methods in Magento 2. They provide you a wide choice of options to receive money for the orders from customers just out of the box. The set up process is pretty easy too, but you should always keep in mind that you can expand the number of options by installing the appropriate 3rd party extension.