Shopify since its appearance has supported the eCommerce industry with many useful services and features. With this platform, anyone can easily create their own professional sales page without the need for a team of programmers or website administrators. Along with the development of the store creation platform, Shopify has also integrated its own payment gateway, bringing many benefits to users. In this article, we would like to introduce the Shopify payment fee for businesses so they can make decisions.
Overview of Shopify Payment
Shopify payment is a service offered through the Shopify platform that helps businesses or merchants to receive simple, fast, and secure online payments. This service is only available to stores in certain regions. To use it, retailers must install Shopify and set up their own accounts. For this Shopify service, users must secure their accounts by setting up two-factor authentication, and if they decide to deactivate two-factor authentication in the future, their account and financial information will be disabled. The platform transfers funds earned from users’ payment gateways through sales and orders up to two days after the customer’s payment. This amount can take 24 to 72 hours or longer to reflect in the business bank account. They can set their payments to a weekly or monthly transfer.
The Pros and Cons of Shopify Payment
Shopify payment offers many advantages while also coming with a few disadvantages. First of all, it has the advantage of simple setup and integration. Users can use this payment gateway instantly in just four steps without moving between websites and even without the assistance of an expert. Besides, it offers a wide range of payment possibilities, allowing customers to pay through their preferred method. This includes credit or debit cards, manual transfers, Paypal, Google Pay, or Apple Pay. With this Shopify payment gateway, transaction fees are zero regardless of the payment method chosen by the customer.
While Shopify Payments is a viable and great option for online store owners, it also has some significant downsides. To begin with, it requests reimbursement from the store owner. Along with that, it also entails the cost of a third-party gateway to process online payments. This is a big cost and a significant drawback for the platform. In addition, this payment gateway restricts the country of use and the industries that can be used. In particular, Shopify Payments reserves the right to revoke their consent to a business’s account. So, to keep the money flowing, users will have to follow their rules.
Shopify Payment fee: Is it worth it?
Shopify payment fee has a relatively low monthly cost for many features. This payment gateway is integrated in the software and platform so the Shopify payment fee will be worthwhile. Firms will experience features such as multi-channel selling, which can help them sell and pay quickly and efficiently. The system also syncs the company’s online and physical store inventory. In addition, with the Shopify payment fee payable, users will be assured of safety and security, and quick support from experts. Each Shopify payment price plan will come with different service features. Organizations need to choose based on the size and needs of their business; the lowest price plan it offers is $5 per month.
Shopify payment fee proves its value for money through the features it offers to business users. To experience this Shopify service easily, feel free to contact us.