Shopify
Shopify payment gateway:
hey what's up guys today we're gonna be talking
about understanding Shopify payment
gateways so these are the payment
gateways that allow you to charge your
customer for the products that they're
going to be purchasing from your website
so without further ado let's go ahead
and get into it so first off
understanding the exact process that is
going on so there's this nice little
chart that I found and so when you a
customer comes to your website you are
the merchant and so a customer comes in
they find a product you are the merchant
and then it directs them to a payment
gateway which is a website that allows
them to punch in all their information
and then that payment gateway then sends
the information to the credit card
processor and then there's the credit
card Association such as like Visa or
MasterCard it just takes a couple of
examples and then you also have then the
credit card is issued to the bank so
that is how the whole entire transaction
occurs and today we're going to be
talking about more specifically the
payment gateways because with Shopify
there's a whole bunch of different ones
and it depends on your country there's a
lot of information surrounding that so
we're gonna be breaking it down today in
this video so hopefully you guys can
understand more about payment gateways
and how to make them work for your
stores so let's get into Shopify
payments this is the default payment
processor from Shopify that they
recommend you to use and personally I
would recommend you to use as well
because it is the cheapest there is no
actual transaction fee for using this
payment processor it's the one that is
default with Shopify it's powered by
stripe so it works really really well
however this becomes an issue for some
people because it is only available in
the United States Puerto Rico Canada
United Kingdom Ireland Australia New
Zealand and Singapore so if you're not
in that country you can't use Shopify
payments when creating your Shopify
store to accept the credit card payments
from your customers so that's a big
issue for a lot of people hand getting
more into Shopify payments if you are in
the country if you are within those
countries that I just listed we'll get
into more what you can do if you're not
in one of those countries listed well
we'll get into that later in the video
but with this one with Shopify payments
in order to get an actual lower credit
card rate depends on your shopify
monthly plans as you can see on the left
it says 2.9 percent plus 30 cents that
is the default credit card rate for
Shopify payments that they give you now
that is lowering you can get it like a
lower rate if you pay for a higher
Shopify monthly plan the default $29 to
month gives you that standard credit
card rate if you increase into the next
plan I believe it's 2.7 percent plus $30
30 cents plus 30 cents not $30 if you
increase from the $29 month plan which
is the basic Shopify plan if you
increase I think it's $79 month for like
the pro plan then it becomes 2.7 percent
plus 30 cents so and then the the one
after that I think is just as flat 2.6
percent and no 30 cent at Edition to it
so there's a lot of different credit
card rates that are associated with just
Shopify payments depending on the
monthly plan that you pay for so if you
want to lower your rate you just go in
and click the get a lower rate and then
it brings up the page with what monthly
plan do you want to pay for honestly
I've only ever used the basic plan
because for the monthly fees and the
percentage the 0.2% difference is really
not a big thing for me unless you're
doing like massive volumes of sales then
getting a lower credit card rate might
be more valuable for you now the
transaction fee like I said before
Shopify payments does not have a
transaction fee so that is good for
Shopify payments but what if you are one
of those people in another country
outside of the United States or you just
personally don't want to use Shopify
payments maybe you have some issues with
them and using it on your store maybe
just you don't like it right you want to
switch to some other payment processor
okay there's a lot of other payment
processors available such as to check
out stripe and there's a whole laundry
list of other ones as well
Shopify has a list of over 70 different
payment gateways on their website that
you can go through and select which one
you want to use to go through and do
some research on each of them and then
find one that works for your country
because some of the ones they have they
only work in like Australia New Zealand
there's some that only work in the
United States there's there's a whole
bunch of different payment processors
find one that you like you like the bed
if it's that they offer you they have
low fees and they work in your country
because you know certain payment
processors only work in certain
countries just like Shopify payments
obviously if you're one of the countries
that's available for Shopify payments
just use Shopify payments but maybe you
want to use a different one if you're in
another country that could also be an
issue for you so these are these are the
couple of different ones like to check
out and stripe there's a huge list of
other ones as well that Shopify has
available for people because they
understand not everyone's in those state
in those countries that I just mentioned
before for Shopify payments so there
there should be one that can work for
you for your country.