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Shopify re re Payments, re re payment gateways and deal charges

There are two main techniques to accept bank card payments on Shopify.

The absolute most simple, for users in nations where it’s supported, is by using Shopify re re Payments, Shopify’s payment system that is built-in.

By using this, you don’t need to concern yourself with transaction charges at all, that is great. Nonetheless, there was nevertheless a ‘credit card price’ to take into account: in the usa, you will probably pay an interest rate of between 2.4per cent and 2.9% of every charge card deal (plus on some plans, an extra 30c). The rate is lower (the UK range of credit card fees, for example, stretches from 1.6% to 2.2%) in other countries.

The precise price will depend on the kind of plan you’re on, because of the cheapest deal charges (while you might expect) becoming available regarding the most high-priced monthly subscriptions.

Alternatively, you should use a third party ‘payment gateway’ to process card transactions — of which there are over 100 to select from (a lot more than can be obtained from contending platforms Bigcommerce, Volusion or Squarespace).

Employing a third-party payment gateway calls for a little bit of setup – you’ll need certainly to set up a ‘merchant account’ with a repayment gateway provider. According to the re payment gateway provider you utilize, you will pay a share of a deal charge, a fee that is monthly both.

If you are using a repayment gateway, Shopify will use a deal cost aswell (of between 0.5per cent and 2% according to the Shopify plan you’re on — once again, the charge gets reduced due to the fact plans that are monthly more costly). Continue reading