Question 1

Is Shopify Payments Safe To Use?

Accepted Answer

Yes, Absolutely. Shopify Payments is one of the most safe and secure payment processors to handle your online store transactions. It is PCI compliant, ensures a secure network, protects cardholder data, maintains a vulnerability management program, has strong access to control measures, regularly monitors and tests networks, and maintains an information security policy.

Furthermore, one of the core features of Shopify Payments is fraud analysis, which automatically detects and flags potentially problematic orders.

Question 2

What Is The Shopify Payments Fee?

Accepted Answer

Shopify Payments has a single, simplified per-transaction fee of 2.4% to 2.9% that combines both credit card processing and payment gateway fees. This fee depends on your chosen Shopify plan.

Question 3

What Is The Shopify Payments Processing Time?

Accepted Answer

After checkout, when the customer pays for an order using Shopify Payments, the amount will reflect in the merchant account within three days of receipt when the payment is processed. This amount can be transferred to your bank account anytime with an easy process.

For new merchants, Shopify Payments may hold your payment for around 14 days as new merchants don’t have the best reputation among customers yet.

Question 4

Do Manual Payment Methods incur fees with Shopify Payments?

Accepted Answer

No, Shopify Payments does not charge additional transaction fees on manual payment methods such as Cash, Cash on Delivery (COD), or Bank Transactions. This is because these transactions don’t involve credit card processing.

Question 5

Can I Have Another Payment Getaway Along With Shopify Payments?

Accepted Answer

Yes, you can integrate another payment gateway to work alongside Shopify Payments. But it’s necessary to consider that even if Shopify Payments is activated, all the third-party and alternate payment gateways will incur additional transaction fees by Shopify.

However, if you’re looking to use PayPal and manual payments, there won’t be any additional transaction fees when using Shopify Payments.

Question 6

Is Shopify Payments Better Than Third-party Payment Providers?

Accepted Answer

Yes, Shopify Payments is a good option to consider if you’re already using Shopify. With Shopify Payments, you’ll only have to pay for credit card processing fees, as there are no monthly fees other than the Shopify subscription plan. However, integrating third-party payment providers comes with separate monthly fees and per-transaction fees.

On top of that, Shopify charges additional per-transaction fees when you choose third-party providers over Shopify payments.

Question 7

What are the Best Payment Solution for Shopify?

Accepted Answer

Here I’ve listed some of the best payment methods for Shopify store.

Best Payment Solutions:

Shopify Payments
PayPal Payments
Google Pay
Stripe
Apple Pay
Amazon Pay
Authorize. new

Question 8

Does Shopify Payments Use Stripe?

Accepted Answer

Yes, Shopify uses Stripe to power its payment solution, Shopify Payments. Due to this integration, you will no longer see the Stripe gateway as an option in your Shopify account. However, in some parts of the world where Shopify Payments hasn’t yet been introduced, you might still have access to the original Stripe gateway.

Question 9

Can I Use PayPal with Shopify Payments?

Accepted Answer

Yes, you can use PayPal when using Shopify Payments and you won’t be charged for additonal transaction fees with PayPal. However, If you’re not using Shopify Payments and you choose PayPal instead, Shopify will charge an additional fee, known as a third-party payment processing fee.

Question 10

Does Shopify Payments Hold Your Money?

Accepted Answer

Yes, Shopify Payments will hold your money for up to 3 business days to review banking documentation or information for your business, as the details of the person creating the account do not always match perfectly. So, your transaction money can be on hold until your details are verified by Shopify’s banking partners.

Question 11

Is It Worth Using Shopify Payments To Avoid Extra Fees?

Accepted Answer

Typically, yes, because Shopify Payments offers the advantage of a pre-integrated payment processing solution with no additional transaction fees and easy management of store funds. But ultimately, it depends on your store’s specific needs and requirements.

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