The more you pay upfront, the cheaper the monthly rate, i.e. pay-monthly is most expensive, and the rate for three years paid upfront is lowest on a per-month basis. Just beware, amounts paid are non-refundable so you commit to the months paid for. The subscription should be cancelled before the end of the current term as otherwise it will auto-renew.
To test Wix, you can sign up for a free account, but this does not include ecommerce features. To test an online store, you need to pick and pay for a Business subscription, but then you can cancel within 14 days for a full refund.
You have the same available payment options and card rates on all plans, but you can only accept one currency for payments. The minimum amount that can be accepted is £1.
Wix Payments has a very competitive transaction rate at 1.9% + 20p and no monthly fees. Chargebacks incur no fee, but the customer may have the transaction refunded if their dispute was successful. It is not clear whether there’s a fee for processing refunds in general.
Settlement with Wix Payments is not the fastest. Payouts are only processed every Monday (and only if there’s a minimum of $20 to clear), whereafter it takes 3-5 working days to appear in your bank account minus the Wix transaction fee. This means that sales made in your online store the Tuesday before could, in the slowest-case scenario, take two weeks to show in your bank account. Payments made on a Friday – maybe Monday – could take “just” 3-4 working days.