Shopify Payment Providers. Explained in fewer than 3 min.
A payment gateway is a significant part of any e-commerce store. An online payment processor allows receiving payments from your customers. If you’re running an e-commerce store, it could be a challenge to find a perfect solution from hundreds of different payment gateways.
Today we consider some of the most popular payment options provided by Shopify to their merchants.
Shopify Payments is a Shopify’s integrated payment processor powered by Stripe. Shopify Payments is perhaps the easiest way for you to accept payments from your customers online. It allows you to accept credit cards without setting up 3rd-party payment provider or merchant account. Setting up Shopify Payments is quick, all you need is to fill out a form. You'll be asked to provide details of your banking information, EIN (Employer Identification Number), and average pricing and shipping time of your orders. All your transactions and payouts are displayed directly in your Shopify dashboard. It is very convenient. Moreover, the use of Shopify Payments reduces your transactions fee. You don't pay 0,5-2% additional fees charged by Shopify Platform for using another payment providers.
Shopify Payments is available only in the following countries: Australia, Canada, Germany, Hong Kong, Ireland, Japan, New Zealand, Singapore, Spain, United Kingdom, United States.
PayPal is widely used Shopify’s payment provider. “Checkout with PayPal” button is a popular additional payment method, and it 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 following PayPal payment integrations:
- PayPal Express
- PayPal Payflow Pro
Third party payment providers
If you want to let your customers to pay with credit card without using Shopify Payments, Shopify offers over 100 credit card provider. Shopify supports both direct and external providers. With direct providers, your customers pay for their purchases on your store’s checkout. With external providers, they complete their purchases on the provider’s website outside of your store.
Some of the most popular third-party payment gateways are below:
If you want to extend payment options, you can set up a cryptocurrency payment method in your Shopify store. You can accept Bitcoin, Litcoin, Etherium and over 300 other digital currencies in your store. Shopify supports the following payment providers:
We will look more closely at cryptocurrency payment providers for Shopify store in our next article.
Some customers don’t want to use their credit card for online payment. You can set up another alternative payment solution - 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 fulfill the order the same way you would do if it’d be online payment.
Shopify platform allows you to choose from over 100 payment gateways, including its payment processor Shopify Payments. Priority factor of choosing a payment provider should be the location of your store and your customers. You can use more than one payment method, and let your customers decide how they want to pay – by credit card, offline or cryptocurrency.