Shopify Credit Card Processing: What It Is & Why It’s So Great

Driving retail success as we dive into Shopify credit card processing.

Shopify credit card processing serves as the cornerstone of any successful retail venture. In an era where consumers embrace diverse payment methods, including the rapid rise of contactless transactions, small business owners often struggle with this essential process.

Whether you're running a brick-and-mortar establishment or an online store, the intricacies of accepting credit cards and processing payments can be daunting. Fear not, as this article will guide you through the entire process, demystifying the complexities along the way.

Does Shopify Accept Credit Cards?

The good news is that Shopify has an open-door attitude about credit cards. Before you begin swiping, take note of a few recommendations.

What Credit Cards Does Shopify Accept?

In a nutshell, Shopify rolls out the welcome mat for all the heavy hitters in the credit card world. We are talking Visa, Mastercard, American Express (AMEX), and Discover. These big guns are ready to impress your customers.

The Fine Print:

While Shopify credit card processing is all about inclusivity, there are a couple of things to notice. For instance, you can integrate AMEX with Shopify but may find it difficult to set up recurring billing as Shopify doesn't support it.

Also, if you prefer using the Discover credit card for Shopify, be aware that its acceptance can vary depending on the location.

Pro Tips for Plastic Pioneers:

Here's some advice for all merchants: Do your study before diving into the Shopify credit card processing. Currently, Shopify supports Visa, Mastercard, American Express, and Discover.

But things may change, so always double-check the lineup before you accept credit card payments on Shopify.

The Price Tag:

Now, let's talk about the green stuff – those processing fees that come with the credit card territory. Shopify's got a pretty standard deal going on here.

For each credit card transaction, you are looking at a fee of around 2.9% plus $0.30 per transaction. So, if you want to sell a product for $100, anticipate paying almost $3 in fees.

Wrapping Up

Accepting credit card payments on Shopify is as easy as pie. However, don't forget to scan the fine print. Be careful of any quirks or fees that might tag along for the ride. And with the VIP lineup of Visa, Mastercard, American Express, and Discover, stress-free payments await.

Shopify Credit Card Transaction Fee

Merchants utilizing third-party credit card processors incur the same standard Shopify credit card processing rates. However, they are also subject to a Shopify transaction fee, commencing at 0.5% per transaction.

The specific numbers levied depend on the chosen Shopify plan, ranging from Shopify Lite, Basic, and Shopify to Advanced and Shopify Plus. These plans start at a monthly fee of $9 and extend to higher tiers catering to enterprise-level needs.

Shopify Payments Credit Card Fees and Plans:

While we all know that Shopify accepts credit cards, not everyone is familiar with its Shopify Payments service, working as efficiently as other 100+ third-party options.

Breaking down Shopify credit card processing fees provides clarity on its native service.

A breakdown of Shopify Payments Credit Card Fees:

Basic Plan:

• Cost: $29 per month
• Online credit card rate: 2.9% + 30 cents per transaction
• In-person credit/debit card rate: 2.7% + 0 cents per transaction
• Transaction fee: 2% if not using Shopify Payments; otherwise 0%

Shopify Plan:

• Cost: $79 per month
• Online credit card rate: 2.6% + 30 cents per transaction
• In-person credit/debit card rate: 2.5% + 0 cents per transaction
• Transaction fee: 1% if not using Shopify Payments; otherwise 0%

Advanced Plan:

• Cost: $299 per month
• Online credit card rate: 2.4% + 30 cents per transaction
• In-person credit/debit card rate: 2.4% + 0 cents per transaction
• Transaction fee: 0.5% if not using Shopify Payments; otherwise 0%

Shopify Plus:

• Cost: Starts at $2,000 per month
• Credit card rates: Contact a Shopify Plus representative for rates specific to your location
• Transaction fee: 0.15% when using a third-party payment processor; no transaction fee with Shopify Payments

Shopify has a variety of options customized to different company needs, with prices ranging from $9 to $299 per month. Moreover, Shopify Plus offers an Enterprise-level solution starting at $2,000 for businesses looking for additional features.

Irrespective of the plan chosen, every merchant receives Shopify POS Lite, facilitating in-person payments seamlessly. However, opting for Shopify POS Pro incurs an additional $89 per location per month.

What is Shopify Credit Card Surcharge About?

Simply put, a Shopify credit card surcharge is a little extra tax merchants tack on when customers choose the convenience of plastic over paper money. It usually hovers between 1% and 4% of their total purchase.

What's in it for Merchants?

For those running the show on Shopify, the ability to add credit card surcharges can be a game-changer.

Balancing earnings without alienating customers is crucial. With Shopify's toolkit and adherence to regulations, merchants can confidently navigate surcharges, turning a potential headache into a revenue-boosting strategy.

By maintaining transparency, adhering to rules, and leveraging Shopify credit card surcharges, sellers can turn surcharges into a win-win situation—increased revenue without sacrificing trust.

How to Accept Credit Cards on Shopify

Learn the essentials for adding Shopify credit card payments to your store.

If your business is strutting its stuff in a physical location, you will need a few things to add credit card payment to Shopify:

• Payment Processor: This is your backstage pass for processing transactions. Think of names like Stripe, Square, or Shopify Payments.

• Point-of-Sale (POS) System: This is your all-in-one toolkit for payments, tracking sales, managing inventory, and more. Look out for providers like Shopify, Square, or PayPal.

• Payment Terminals: These are your trusty sidekicks for processing card transactions, whether swiping, dipping, or tapping.

For those sailing the digital seas, here's what you will need for smooth sailing with Shopify credit card payments:

• Payment Processor: Once again, you will be cozying up with a payment processor. Stick with the same crew you trust for your brick-and-mortar ventures.

• Payment Gateway: This is your online ticket to processing payments, ensuring secure transactions over the Internet. Check out PayCEC for this service.

Now that you grasp the components of Shopify credit card processing, here's how it flows:

1. When a customer purchases using their credit card, a series of actions occur between the payment processor and the customer's bank. This process determines whether the payment will be approved or declined.
2. The payment processor is an intermediary between the merchant (you, the seller) and the credit card company.
   They facilitate the transfer of funds and handle the authorization process. However, this service comes at a cost, typically a percentage of the transaction amount plus a flat fee.

3. Once the payment is approved, the funds move from the customer's bank to the payment service provider (e.g., PayCEC).
   After a brief processing time, typically one to two business days, the remaining balance (after deducting fees) is deposited into the merchant's business checking account.

Shopify credit card processing necessitates a testing step that reduces the time, effort, and cost of correcting system failures. Shopify test order credit cards do just that.

And there you have it – a crash course in Shopify credit card payments. Whether ringing up sales in-store or cruising through cyberspace, understanding how Shopify accepts credit cards will keep your business grooving to the beat of success.

Navigating Shopify Credit Card Payment Gateways: Finding Your Perfect Fit

From Shopify Payments to PayCEC, the options are aplenty, each with its perks and quirks. So, let's dive in and explore which gateway might be your knight in shining armor.

1. Shopify Payments: The Seamless Solution

This gateway is as smooth as butter, effortlessly integrated into your Shopify platform. With a simple setup process and a fee of just 2.2%, it's a beginner-friendly choice that won't break the bank.

Available in multiple countries, including the US, Canada, and Australia, it is a global player ready to power your Shopify credit card payments. To get started, check out our step-by-step tutorial on integrating Shopify Payments.

2. Stripe: The Power Player

Next, we've got Stripe – the heavyweight champion of payment gateways, especially in the US. With its arsenal of customizable tools and support for over 100 currencies, it's a favorite among businesses large and small.

With integrations for up to 300 tools, Stripe is a powerhouse for subscription plans, on-demand marketplaces, and more. Its user-friendly nature and transparent pricing structure make it a top Shopify credit card payment gateway.

3. PayPal: The Global Giant

PayPal is the most well-known payment gateway. With acceptance in over 200 countries, it is a popular choice thanks to its sophisticated features, such as mobile payments and worldwide checkout. Moreover, its customization options and easy integration seal the deal.

4. WorldPay: The Reliable Ally

A reliable partner for businesses of all sizes, WorldPay operates in more than 120 countries and is famous for its efficient management and sliding-scale fees based on turnover.

With transactions accepted online, by phone, and through card machines, it is a versatile choice that adapts to your needs. Plus, its quick setup process means you will be up and running in no time.

5. PayCEC: The All-Rounder

Meet PayCEC, your trusted partner! No surprises, just sincere support for your online venture.

PayCEC is a payment ally for businesses across the board. Recognizing the hurdles inherent in launching or scaling an online venture, PayCEC has eliminated setup fees to ease the burden.

The Shopify credit card payment gateway fosters an environment where you can nurture your business without unnecessary financial obstacles. When you choose PayCEC, no surprises are lurking in the shadows. What you see is what you get.

Key Takeaways

In conclusion, Shopify credit card processing is a critical aspect of e-commerce success, empowering businesses to optimize their payment strategies and enhance the overall shopping experience for customers.

Choosing a payment gateway requires knowing your needs, budget, and target audience. Whether you prioritize smooth integration, global reach, or payment security, there's a provider out there waiting to be your e-commerce hero.

About PayCEC

PayCEC was established in response to the growing need of businesses to accept online payments more quickly and easily. In the new media era, our payment flow has evolved to work seamlessly and effectively across all platforms and devices. We pride ourselves on combining superior technology with first-class customer service.

PayCEC is a truly global payments platform that not only allows customers to get paid but also withdraws funds to their business accounts in various currencies.

We have created an open and secure payments ecosystem that people and businesses choose to securely transact with each other online and on mobile devices.

PayCEC Team

• [email protected]
• +65 6631 8332
• www.paycec.com