Are you looking to start your own online store using Shopify? Many entrepreneurs turn to this platform to create their stores, but one of the most common questions is: how does Shopify pay you? If you’re looking to get started selling your products online, understanding how Shopify pays you is essential.
In this article, we’ll help you understand how Shopify pays you, the payment methods you can use, and the fees associated with each payment option.
How Does Shopify Pay You?
Shopify pays you through a variety of payment methods, including credit cards, PayPal, and bank transfers. Depending on your store’s location and payment settings, you’ll have a variety of payment options available to you. Shopify also supports payments from a variety of third-party payment gateways, such as Stripe, Apple Pay, and Amazon Payments.
What Are the Fees?
The fees associated with each payment method vary depending on the payment gateway you use. When you use Shopify’s native payment gateway, Shopify Payments, you’ll pay a processing fee of 2.9% plus 30 cents per transaction. If you opt for a third-party gateway, you’ll be charged a different fee depending on the gateway you choose. For example, Stripe’s fees are 2.9% plus 30 cents per transaction, while PayPal’s fees are 2.9% plus 30 cents in the US and 4.4% plus a fixed fee based on the currency in other countries.
How Do I Set Up Payments?
In order to accept payments on your Shopify store, you’ll need to set up a payment gateway. To do this, head to the Settings page in your Shopify admin and select Payment Providers. From there, you’ll be able to choose from the available payment options and follow the instructions to set up the payment gateway of your choice.
Understanding how Shopify pays you is an important part of setting up your store. Shopify supports a variety of payment methods, and each payment method has its own fees associated with it. To set up payments, you’ll need to head to the Settings page in your Shopify admin and select Payment Providers. Once you’ve chosen your preferred payment method, you’ll be ready to start accepting payments.