You can now accept Eway payments with your Magento store

One of the main advantages of using eWAY instead of PayPal as a payment processor is that settlement is normally on a next-day basis.

So it’s interesting to see that eWAY now offers an extension for use with eBay’s Magento eCommerce platform.

Developed in partnership by eWAY and Magento, the extension means retailers can accept card payments via eWAY as an alternative to PayPal. While the extension is free, merchants need an eWAY account to use it – otherwise how could the payments be processed?

Features include Magento back-office integration (eg, for processing partial or full refunds) and integration with eWAY’s Beagle fraud prevention system to reduce the risk of chargebacks.

The extension allows customers to securely store their credit card details for faster and easier checkout of subsequent purchases. Instead of having to retype all the details, they merely need to re-enter the CVN (card verification number).

Jeff Herrera, Head of Partner Marketing at Magento, said: “eWAY’s new payment extension provides merchants with enhanced fraud protection and increased efficiencies to make the consumer buying experience as easy as possible.”

eWAY already provides integration with the Xero cloud accounting system so that payments are automatically synced with the accounts as well as providing a ‘Pay Now’ button in electronic invoices.