Without online payment processing, you can't receive payments from your customers. That is why a payment gateway is a significant part of any e-commerce store. However, it is often a big challenge for a merchant to find the perfect solution from hundreds of different payment service providers.
Let's learn about the most popular ones provided by Shopify.
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Start Free TrialShopify Payments is Shopify's integrated payment processor powered by Stripe. It is perhaps the easiest way to accept payments from your customers online. Shopify Payments allows merchants to accept credit cards without any 3rd-party payment provider or merchant account required. Setting up Shopify Payments is quick. All you need to do is fill out a form. You'll be asked to provide your bank details, EIN (Employer Identification Number), and your orders' average pricing and shipping time. All your transactions and payouts are displayed directly on your Shopify dashboard. It is very convenient. Moreover, the use of Shopify Payments reduces your transaction fee. You don't pay 0,5-2% additional fees charged by Shopify Platform for using other payment providers.
Unfortunately, Shopify Payments is only available in a few countries: Australia, Canada, Germany, Hong Kong, Ireland, Japan, New Zealand, Singapore, Spain, the United Kingdom, United States.
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PayPal is a payment service provider widely used by Shopify. An additional payment method called the "Checkout with PayPal" button can be activated with any Shopify package. You can combine PayPal Express Checkout with Shopify Payments or third-party providers and let your customers choose a preferred payment method.
Shopify supports the following PayPal payment integrations:
PayPal Express
PayPal Payflow Pro
Venmo
If you want to let your customers pay with a credit card without using Shopify Payments, Shopify offers over 100 credit card providers. In addition, Shopify supports both direct and external providers. Your customers pay for their purchases with direct providers at your store’s checkout. With external providers, they complete their purchases on the provider’s website outside your store.
Below are the most popular third-party payment gateways:
Check out all third-party payment gateways available in your country.
If you want to extend payment options, you can set up a cryptocurrency payment method on your Shopify store. You can accept Bitcoin, Litcoin, Etherium, and over 300 other digital currencies in your store. Shopify supports the following payment providers:
In our next article, we will look more closely at cryptocurrency payment providers for the Shopify store.
Some customers don’t want to use their credit cards for online payments. Instead, you can set up another alternative payment solution - the manual payment method. Common types of manual payments include cash on delivery (COD), money orders, and bank transfers. If a customer chooses manual payment, his order gets marked as unpaid on the order page, and after receiving payment for this order, you mark it as paid and fulfil the order the same way you would do if it were the online payment.
Shopify platform allows you to choose from over 100 payment gateways, including its payment processor, Shopify Payments. The priority factor in selecting a payment provider should be your store's location and customers. You can use multiple payment methods and let your customers decide how they want to pay – by credit card, offline, or cryptocurrency.
VT Labs does agile development for Shopify stores, to move faster than competitors. You get store improvements every week and can change priorities anytime.
