What are Shopify Payments
Shopify Payments: Payment methods at Shopify
What is Shopify Payments?
Shopify Payments is that official Shopify payment gateway, which offers all its customers a robust, reliable and secure payment system for their online shops.
This tool for Shopify complements the services the company offers for setting up online stores and has helped consolidate Shopify as one of the most popular alternatives when choosing a platform for this.
With Shopify Payments The online shops set up with Shopify have their own payment platform, which guarantees that payments are made in a completely secure manner.
What are the benefits of Shopify Payments?
There are a number of advantages to using Shopify's own payment gateway when setting up an online shop with this platform. These are the main ones:
» Immediate availability
This payment gateway integrates perfectly with Shopifyso that it can be integrated immediately due to its installation and configuration. With Shopify and Shopify Payments, you can create a ready-to-sell online store in a very short time.
Shopify Payments is managed through the Shopify admin panelso that it is not necessary to call up an external panel.
» Security guaranteed by Shopify
Shopify is a well respected company, so their payment gateway is trusted by users who know the company's experience and professionalism. When using the Shopify payment gateway Payments are guaranteed.
» No processing fees
One of the strengths of this Shopify payment gateway is that No additional transaction fees. This is an incentive for sellers to use this payment gateway for which they will pay less commission than for other existing gateways.
» Compatible with other payment gateways
The installation of Shopify Payments does not preclude the possibility of using other payment gateways such as PayPal or Stripe. Shopify Payments coexists perfectly with other payment gateways so that the customers of the online shop can choose their preferred form of payment.
» Additional advantages
Another interesting benefit of Shopify Payments is that it has a Real time money tracking system which can be accessed through the Shopify admin panel.
Transparency is another benefit of Shopify Payments. It's simple and easy to install, its configuration is clear and can be done in a few steps, and the commissions are completely clear, avoiding last-minute surprises when receiving payments.
What are the disadvantages of Shopify Payments?
While the benefits of Shopify Payments are enough to make you decide to install it on a Shopify store, there are also some negatives to consider:
• No worldwide availability Some countries do not yet accept this payment gateway, which limits the range of the online shop, but this can easily be solved by integrating another payment gateway.
• Frozen credit If there are incidents related to suspicious activity or reports of problems with returns, the funds will be frozen and confiscation prevented until the matter is resolved.
• Accepting the product terms Must accept product terms that restrict some items.
• For the Returning payments will incur a fee in the amount of 15 euros, which will be passed on to the seller. This is perhaps the darkest point of this payment gateway and the main source of complaint for most of the users.
Shopify Payments versus PayPal and Stripe
Secure payment gateways have helped increase online sales. With these tools, buyers lose the fear of shopping online and entering their banking details as they create a filter between their bank account and online payment.
Two of the world's most popular and widely used gateways are PayPal and Stripe. This is why we're going to be comparing Shopify's gateway, Shopify Payments, to these two popular payment gateways.
1. Shopify Payments vs. PayPal
PayPal is the most widely used payment gateway, so it must be activated in every Shopify shop. Since it can also be used alongside Shopify Payments, it is no problem to have both active at the same time and take advantage of their advantages.
PayPal charges currency conversion fees and customers must also exit the shop to confirm payment. These two aspects do not happen with Shopify Payments, where no conversion fees are charged and the customers do not leave the online shop themselves during the payment process for their order.
Another point that speaks against PayPal is that does not accept payments at traditional physical points of sale so it's not that useful for business models that combine online and physical sales. With Shopify Payments, on the other hand, it is possible to make payments in person using the credit card readers recommended by Shopify.
PayPal has a system that allows the Buyer protects, and is often feared by online shops, as the platform takes the buyer's side in almost every incident.
2. Shopify Payments vs. Stripe
Shopify Payments and Stripe are linkedbecause the first is processed over the second. However, it is possible and interesting to install both platforms in one online shop and offer customers both services.
Both platforms have similar terms that must be accepted as dropshipping is not allowed, the products sold cannot contain nudity and other types of products are also prohibited.
This is how Shopify Payments is configured
Implementing Shopify Payments in an online shop created with Shopify is very easy. One goes in Admin panel the Shopify platform simply go to the menu Settings. From there you can access the configuration menu of the payment gateway Shopify Payments.
Here you have to enter a range of information to activate the payment gateway and in the online shop is working. The data to be provided include company information, bank details and personal details.
As mentioned before, the configuration process to fully activate this payment gateway is very quick and easy.
Shopify Payments is a payment gateway that can be used to expand the payment methods in Shopify. With a quick and easy installation, this payment gateway enables an online shop to be ready for use in the shortest possible time.
Giving customers as many options as possible to complete the buying process is one way to increase sales. So using Shopify Payments in conjunction with other payment gateways like PayPal or Stripe is a great idea.
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