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Accepting bitcoin payments online has never been easier. You can accept bitcoin payments directly from your store using the WooCommerce Bitcoin Payment - Speed plugin.

Benefits of using Speed

  • It enables low-cost, secure, and lightning-fast bitcoin payment processing.
  • There are no setup costs, monthly fees, or hidden costs.
  • It provides robust and adaptable payment processing capabilities.
  • Create your account and start accepting bitcoin payments in no time.
  • Transaction fees are significantly lower (1%) than credit cards (2.9% -3.4%).
  • There is no risk of chargebacks or fraudulent payments.
  • Accept cross-border payments without the involvement of a bank. It's simple to go global with Speed.
  • Speed uses real-time bitcoin prices to save you from losing your revenue.
  • Withdraw your balance instantly in bitcoin or USDC.

Benefits of using the Speed Woocommerce plugin

  • Your customers will have a smooth checkout process.
  • Easy setup. No need for coding. Connect Speed with your store by simply copying and pasting your secret keys.
  • Integrate quickly by filling in the required details, and your store will be ready to accept payments via Speed.
  • The plugin interface allows you to easily switch your transactions from live mode to test mode or vice versa. It’s a great feature to configure the plugin according to your expectations and validate your transactions before going live.
  • You can also keep track of the order payments regularly on the Speed Web application and get confirmations quickly.

Download it now at: WordPress.org or via the Add New option under Plugins on your site. For full details of updates, please see the Changelog.

Requirements

To install WooCommerce Bitcoin Payment - Speed Plugin, you need:

  • WordPress Version 4.0 or newer (installed). Tested up to: 5.9.3
  • WooCommerce Version 3.9 or newer (installed and activated)
  • PHP Version 7.4.29 or newer
  • Speed account. If you don't already have a Speed account, sign up for one here.

Installation

  1. Log in to WordPress Admin.
  2. Go to Plugins > Add New.
  3. Search for the WooCommerce Bitcoin Payment - Speed plugin. The author is Speed.
  4. Click on Install Now and wait until the plugin is installed successfully.
  5. You can activate the plugin immediately by clicking on Activate nowon the success page. If you want to activate it later, you can do so via Plugins > Installed Plugins.

To learn more, see Installing and Managing Plugins.

Setup and Configuration

After installing the WooCommerce Bitcoin Payment - Speed plugin, it must be enabled and configured.

To configure your Speed Bitcoin plugin, go to WooCommerce > Settings > Payments > Speed. Click Finish setup.

There are 4 types of settings tabs you will find on the Speed Configure page.

General Settings

The Plugin status here will read enabled if you activated the plugin after installation.

  1. First, you can choose the transaction mode here. If you want to test payments before accepting real bitcoins, select the transaction mode as Test. You can simulate various payments in test mode. However, if you want to start accepting payments with Speed, select the live mode and save your changes. Whichever mode you select, you will find the mode displayed on the top-most right corner of the Speed Configure settings page.

  2. Although Speed by default suggest the payment method name and description but you can modify them as you see fit.

  3. Next, you will see the statement descriptor, which is additional information about a payment made to your account via Speed. You can add a customized one as well.

  4. Enable the logo or no logo button, depending on whether you want your payment page to show the Speed logo or not.

Test and Live Settings

Next, let’s fill in the Test and Live Setting’s required fields.

  1. Enter the Publishable API keys to configure the Speed - Bitcoin payment with a new or existing Speed account (copy the keys from your Speed web application).

  2. Fill in the webhook URL and Webhook Test Signing Secret Key. Click here for more instructions.

  3. Click on the “Test Connection” to see if Test / Live keys provided establish a successful connection or not. As this would be required to connect your website to your Speed account.

Order status settings

Initially, when an order is created, the order status is payment pending. Once your customer completes the payment, the order status changes to processing.

Order status gets changed to processing because of the default settings set as shown below.

You can select the order status of your choice from the three available options mentioned below to show that the customer has made the payment.

  1. Processing
  2. On-hold
  3. Completed

Check all the details are filled in, and click Connect and Save Changes.

Webhooks

Webhooks will help keep the communication between Speed and your site synchronized. It provides information such as the status of the checkout session’s payment and is used to update the orders based on certain events.

Let us see the steps to enable webhooks for your Woocommerce website.

  • Head to WooCommerce » Settings » Payments » Speed. Click Manage to configure your Speed - Bitcoin Payment settings. Under the Live/Test settings section, you’ll find a webhook endpoint URL ready for you to copy and paste into your Speed web application.

  • Log into your Speed web application with your login credentials.
  • Navigate to Dashboard → Developers → Webhooks. (with “Test mode” enabled or disabled, depending on which mode is being configured).
  • On the left sidebar, click Add endpoint.
  • Paste the webhook endpoint URL you copied earlier into the Endpoint URL field, and enter a description.
  • Select the `version` of your choice.
  • Click next. You will see a list of events. Select your desired events. Make sure to select the following events at a minimum.
  • For example, you are selecting below given events,
    • Checkout_session.paid
    • Checkout_session.created
    • Checkout_session.payment_paid
  • After selecting events, you can see the selected ones in the sample endpoint code on the Speed web application.
  • Click Add endpoint. This will take you to the webhook detail page, where you can find the webhook endpoint status, secret, id, and many other details.
  • Copy the Signing secret (wsec_xxxxxxxxxxxxxxxxxxxx) after clicking Reveal.
  • Back in WooCommerce » Settings » Payments » Speed » Test/Live Settings, paste the secret into the Webhook Signing Secret Key field.
  • Test your connection, and if it successful then you are good to go using Speed at your website.
  • If this was done in test mode, repeat the process after switching to live mode.

Accept Speed Bitcoin at Checkout

Your customers can easily complete their payment by selecting the Speed - Bitcoin payment option on your store, as shown below. At checkout when the customer selects Speed Bitcoin payment, they will be redirected to the Speed payment page to complete the crypto transaction.

On the Speed payment page, customers can make payments on-chain or via the Lightning Network. Learn more about each payment method here. Customers who choose to pay on-chain can make partial payments for their orders. Learn more about partial on-chain payments here.

When a customer makes a partial payment, the order status will be payment pending. The customer can make the remaining payment on the same on-chain address or the Lightning Network using the QR code on the Speed payment page. The same Speed payment page can be generated by going back to the cart (without updating it) and then selecting the Speed payment option at checkout. This will take the customer back to the same payment page where they can make the remaining partial payment.

If a customer clicks back on the Speed payment page, they will be redirected to the cart page of your WooCommerce store.

Changelog

Updated 3 months ago