Setting up Shopify payments – Adding a payment method to your Shopify store
Understanding how you’re going to get money from your customers should be one of the key tasks when setting up your online store. So make sure that you define a reliable payment process for your Shopify store. Without a doubt, Shopify Payments is the most flexible way to accept online payments. Adding a payment method to your Shopify store is not a step-by-step process. Rather, it should be a wise decision that determines whether or not overseas shoppers can shop in your store. This blog is about how to add Shopify Payments as a payment method to your Shopify store.
BNPL, cryptocurrencies and cardless payment methods are some of the new digital payment trends. With broader payments in mind, we’ve broken the blog into 3 parts. For merchants who don’t use Shopify Payments as a payment method, they can sign up with various third-party payment gateways – Click here to learn more.
Part three of the series highlights various online payment trends that have recently emerged and how Shopify merchants can instill payment trends in their store. The links are hidden somewhere on this blog. See if you can find it.
What’s the best payment provider for Shopify?
When a customer orders from your store, their payments are processed before they even reach you. The payment provider verifies all payments. Because of this, there is a delay before the amount is credited to your bank. So it would be helpful if you were discerning when adding a payment method to your Shopify store.
Third-party payment providers will have their own ways of collecting funds from your customers. You can make a list of the payment providers that work best for you and check out the details on their websites.
All other payment systems, except for charging a fee for all transactions processed.
Don’t worry if your store is located elsewhere. Shopify ecosystem is loaded with third-party payment providers like PayPal, RazorPay, Paytm. Click here to see known payment gateways by region.
Shopify Payments is the pinnacle of payment providers!
The basics of online shopping are limited to the Shopify platform, and you have to build each one to suit. Shopify Payments is an in-house payment solution that accepts all types of payments. Here are some of the features of the allocation –
You don’t need to sign up with any other payment service provider. All major payment methods such as bank transfer, credit card transaction, expedited verification, BNPL and more are suitable on Shopify platforms.
Other payment systems charge a fee for every online transaction. But Shopify Payments only charges for credit card transactions.
Transaction fees and costs vary depending on your payment plans. You can reduce your credit card processing fees by upgrading your subscription with Shopify!
Cross-border commerce is easy with Shopify Payments. However, sometimes the currency your customers prefer may be different from the currency of your payments from Shopify Payments.
With Shopify, you can communicate with buyers from over 130 countries (to do this, you can contact the shopify development company for help). This can make a big difference for multi-channel sellers. In addition, you can add a country selector to your theme so customers can choose their country or region to pay in their local currency.
Consult the Shopify experts now!
Advanced fraud analytics will come in handy . For example, you’ll get a notification if an order is fraudulent. You also get access to analytics and reports on specific payments – and it’s all right in one dashboard – your Shopify Admin.
Other payment processors have their own rules for paying out credit card orders. You can check with your provider. On average, you get the amount within 5-7 business days. But with Shopify Payments you usually get the amount within 2-4 business days, depending on your store location.