The Guides to Shopify Payment (2022)

Shopify is arguably an e-commerce giant. Payments on Shopify are an important aspect that most online sellers look for. Fortunately, the platform offers a variety of payment options for its users to make online selling easier and more convenient.

Shopify Payment is a bit tricky to set up. Therefore, here we have brought a quick guide for you.

So, here we go:

What are Shopify Payments? And how does it work?

Shopify payments are the in-house payment processing solution of Shopify. It streamlines the payment process and allows merchants to receive payments directly via their stores with credit cards. It is the easiest payment solution available for Shopify that gets installed automatically with all Shopify stores. So, the merchants can start collecting their payments without installing any third-party gateway.

Setting up Shopify Payments isn't difficult but a little tricky due to the tax information filling form.  

How do you set up Shopify Payments?

Do you want to set up Shopify Payments on your store? Here are some of the most important things you should consider in this regard.

So, here we go:

· First, create your Shopify account by providing all the required information, then sign it.

· After signing into your Shopify account, you will find the “Payments” option in your admin panel.

· Click “Settings” and go to the payment section.

· Here you have to provide tax information. Tax information completely depends upon the country you are from. To complete the form accurately, you may need to consult a professional accountant.

· Shopify Payments allow you to choose from the list of debit and credit cards. So, enable or disable the options available based on which fit your business requirements.

· The remaining options will be set by default, and you don’t have to do anything with these. However, don’t forget to choose when you would prefer to get paid (daily or weekly).

After completing all the steps mentioned above, Click on Save. The process to set up Shopify Payments is completed.

Shopify Payments: Pros and cons

There are a few advantages and disadvantages of Shopify Payments that you must consider here:

Pros

· This is the simplest payment processing option you can use to set up and start running your Shopify store quickly.

· Shopify Payments is an integrated payment solution of Shopify. So, you can manage your entire business from one place easily.

· It offers affordable transaction fees with no monthly or set-up fees at all.

· The solution is available to use in more than 15 countries.

Cons

· The payment solution isn't available worldwide.

· It isn't the best payment processing solution yet for high-volume businesses.

Alternatives to Shopify Payments

Shopify merchants have multiple other payment solutions as efficient alternatives to Shopify Payments. Here are some of the best alternatives to Shopify Payments you can consider:

· Stripe

· PayPal

· Google Pay

· Apple Pay

· Authorize.net

PayPal and Stripe are the most commonly used payment options on Shopify. Shopify also provides in-house integrations with numerous payment options for ease and convenience. Moreover, in-built integrations of these payment processors make setting up, starting, and running your online business easier and quicker.