Learning about the payment gateway options is an important part of learning how Shopify works as a whole and will enhance your knowledge on how you receive your money when you make a sale.
Choosing the right payment gateway will ensure that your customers are going to get the best experience when browsing and searching on your website so you want to make sure you really take the time to learn about the benefits that come with each gateway option.
Not only will this help to secure your payment, but it will also encourage customers to come back as returning customers to your website or recommend your products and services to their family and friends.
Therefore, you want to make sure that you’re going to pick the one that is going to enhance that experience.
What is a Shopify payment gateway?
It may sound complicated but a Shopify payment gateway is simply the payment solution that customers will use when making their payments from your website.
They will authorize the customer’s funds and transfer them from the buyer to the seller securely and conveniently.
It gives your customer the chance to buy products from your store and guarantees that you will receive the money safely while also keeping the buyer’s information and payment data confidential.
With so many different options available, you want to make sure you are using a payment gateway that is reliable, reputable and convenient.
We’ve gathered the top 5 payment gateways that you should consider before making your final decision.
OUR TOP PICK
Our top recommendation is Shopify Payments which is Shopify’s built in service. This is an ideal choice for those who are unsure which service to go for and want the easiest and most convenient solution as there are no additional fees involved.
It already is integrated into your store whether you use it or not so you can try it out if you are unsure and takes away the stress of setting up a third party payment gateway account which can take a lot of time.
Once your Shopify Payment account is set up, customers will immediately be able to make payments to your store. It is a hugely popular choice because of how convenient it is and how easy it is to set up.
What makes this our top choice is that Shopify Payments allow sellers to keep their whole business financials secure in one place rather than setting up various accounts and having bills coming from a range of different companies.
With a variety of packages available, sellers can choose the best option that is going to suit their requirements the most.
Another advantage that comes with Shopify Payments is that the business is only charged for their subscription and card swipe fees but there are no additional transaction fees.
- This is an ideal choice for those who are unsure which service to go for and want the easiest and most convenient solution as there are no additional fees involved
- Already is integrated into your store whether you use it or not so you can try it out if you are unsure and takes away the stress of setting up a third party payment gateway account
- The business is only charged for their subscription and card swipe fees but there are no additional transaction fees
- Not available in every country
Our second selection is probably the most popular and well known payment gateway solution outside of Shopify Payments. PayPal is one of the most widely used payment gateways because of how quick it is to set up.
There are options for both free and paid accounts depending on the size of your businesses and the requirements you have. With a 24/7 customer support team, you will also have the support you need should you have any issues or queries.
With a variety of packages available, you can choose the one that suits your needs the most such as PayPal Payments Pro which has flexibility and mobile support among other handy features.
What makes PayPal such an accessible option is that customers are not required to set up an account before making any payments whilst also keeping their details safe and secure.
With over 220 million users globally, PayPal is a highly reputable and safe brand that maximizes the payment experience making it extremely convenient and easy.
Sellers are also able to see all of their financial information easily on their account such as invoices, customization options and cart integration. Available in over 203 countries, PayPal is widely accessible for all kinds of businesses.
- One of the most widely used payment gateways because of how quick it is to set up
- Customers are not required to set up an account before making any payments
- Over 220 million users globally which adds to the positive reputation
- A lot of transaction fees involved
Our third choice is Stripe which is one of the popular Shopify payment gateway options.
Considered one of the best options for larger businesses to consider, Stripe boasts over 300 tools and products for you to take advantage from.
You can select which service is best depending on your budget and requirements so you’re not paying for features that you’ll never use.
Accessible for all kinds of payment options, customers can pay with their credit cards as well as through international currencies both online and in stores with no problems.
One of the best choices for global businesses, Stripe is fantastic as it allows you to create your own subscription service and requirements. The fees are processed on a flat rate structure which is 2.9% for online transactions and 2.7% for instore transactions. This makes it one of the most reliable and affordable options for larger businesses.
Stripe also offer discounts for larger corporations who will be investing a lot of money and time into their payment gateway solution.
One hugely convenient feature is that it has the capability for one click checout as well as subscription bills and mobile payments.
- Accessible for all kinds of payment options, customers can pay with their credit cards as well as through international currencies both online and in stores with no problems
- One of the most reliable and affordable options for larger businesses
- Has the capability for one click checout as well as subscription bills and mobile payments
- Technical skills required to use it
Our penultimate selection is Opayo. Formerly known as SagePay, Opayo is one of the most popular choices for UK based businesses and is extremely secure.
It allows Shopify customers to make payments or over the phone with ease as well as giving the businesses 24/7 telephone support should you need it.
What makes Opayo so reliable and reputable are the features that come with all packages to enhance the overall payment experience for both the buyer and the seller. They offer advanced fraud detection tools at no extra cost to make sure that all data is protected and completely safe and secure.
Suitable for both small and large businesses, Opayo is an affordable option as their packages start from £19.90 per month for 350 transactions and go up to £45 per month for 500 transactions making it a great option for those who want to minimize their overall costs while still maintaining a quality service that is convenient for customers to use as well.
What makes Opayo an ideal choice is the reputation that they have built within the UK and the amount of small and large businesses that sign up to their services.
- Allows Shopify customers to make payments or over the phone with ease as well as giving the businesses 24/7 telephone support
- Offer advanced fraud detection tools at no extra cost to make sure that all data is protected and completely safe and secure
- Suitable for both small and large businesses
- Only available in the UK
Our final choice is Authorize.Net which accepts a wide variety of card types including MasterCard, Visa and American Express among many others making it hugely versatile for all kinds of clients and customers.
Suitable for any sized business, this option has a variety of different packages for both small and large businesses so you can select the service that is going to benefit you the most.
If your business grows or downsizes, you can change your package easily. It is one of the safest and affordable options and offers credit card and eCheck processing to ensure that your customers’ data is fully protected.
There are many features that are available to those who use Authorize.Net such as customer profiles and card tokenization for extra convenience and ease of use.
It’s also a hugely advanced service as it can run Apple Pay, PayPal and Visa checkout making it highly accessible to all kinds of buyers. Whether you are selling online only or both online and in store, this is a great system to use as you can view all of your financials both outgoing and incoming.
- Suitable for any sized business, this option has a variety of different packages for both small and large businesses
- One of the safest and affordable options and offers credit card and eCheck processing to ensure that your customers’ data is fully protected
- Hugely advanced service as it can run Apple Pay, PayPal and Visa checkout making it highly accessible to all kinds of buyers
- Can be difficult to set up and use
Best Payment Gateway for Shopify Buying Guide
It cannot be mentioned enough how important choosing the right payment gateway is for your site. The main purpose of owning a business is to generate profit and this is the part that is going to ensure that you get your money whilst keeping your customers happy.
The last thing you want is a difficult gateway that makes buyers struggle to make any payments which will then infruirate them and put them off from visiting your site again.
If you’re wanting to conduct further research, you need to consider a variety of factors before making your final decision. These are: the target market, reputation, fraud detection capabilities and transaction fees.
Once you’ve really given thought to these factors, you’ll be able to make your decision with the confidence and understanding that you are making the right choice.
The first thing you need to consider is your target market. When it comes to choosing your payment gateway, you need to make sure that it has the capabilities of reaching and serving countries that you have in mind.
For example, if you choose a solution that is only domestic to the US but you reach a global audience, this may make it tricky for customers from outside the US to pay for their products.
However, if you are wanting to run a solely domestic company then you don’t have to worry about this and can opt for a cheaper package so you’re not draining money.
Choosing the right package is going to make your business run more smoothly for both yourself and your customers and make it easier to track your payments.
The next factor to look at is the brand reputation of the payment gateway. It is important to look into how popular and well received a service is as you can get a better understanding into how they run and how well they perform.
You could also have a look into what service your competitors use to give you another insight into the market. There are many payment gateways that you have probably heard about such as PayPal which is one of the most popular payment methods available. There are some sites that only serve certain countries and others that are global.
Therefore, you want to make sure that you are going to get the best service that is highly convenient and reliable.
Fraud Detection Capabilities
Following on from the previous point, you need to make sure that the payment gateway solution you choose is also capable of detecting any fraudulent activity.
Therefore, choosing a solution that is secure and equipped with built in risk and fraud detection capabilities is going to ensure that you and your customers experience quality transactions with no problems.
Not only is this going to prevent any potential robberies but it will also mean that your customers can rely on your business without any worry that their money or data is compromised.
Additional Transaction Fees
Lastly, you need to look into any additional transaction fees that may come with your payment gateway. This is only applicable if you choose any other service than Shopify as they are classed as a third party solution.
This could be in the form of a monthly subscription amount as well as start up fees, chargeback fees, settlement fees or cancellation fees among many others.
It’s important to get a full understanding of the financials of each payment gateway solution package that you are considering to ensure that you can afford the payments as well as making sure that you are receiving unexpected bills because you weren’t aware of any additional fees.
Best Payment Gateway for Shopify - FAQ's
Can I sell on Shopify without PayPal?
Shopify is an extremely versatile site as it allows you to choose from a variety of payment gateways.
PayPal is a popular option for many businesses but it is not compulsory. If you are looking for a PayPal alternative then research the choices given in this guide.
How long does Shopify take to pay you?
Payments from Shopify can take between 24 to 72 hours to appear in your bank account once the payment has been made and confirmed by the bank.