If you’ve tried using Shopify before , you’re probably familiar with Shopify Payments. It’s a built-in payment processing system that comes by default as part of the entire Shopify platform. So, you don’t have to worry about embedding an external payment gateway. You can simply manage your transaction processing system right from the main Shopify dashboard. The end result is a seamless experience between your online store and your payment processor. But make no mistake. Shopify northeast number data Payments isn’t just about online payments. It also offers POS hardware to support well-synced in-store payments. If the features of Shopify Payments don’t entice you, the perks that come with it might. You see, while using PayPal on Shopify would force you to pay 0.5-2% transaction fees on top of the card processing fee, Shopify Payments entitles you to zero transaction rates. Essentially, you only pay the card processing fee, the rates of which depend on your specific Shopify plan. The highest rate is 2.9% plus $0.30 per transaction, while the lowest is 2.4% plus $0.30 . Once this is done, subsequent payments are scheduled for every 3 business days. PayPal, on the other hand, takes about 5-7 business days .
Pros
It is built into Shopify to offer a seamless payment management experience.
Shopify Payments can be integrated into a wide range of platforms and solutions, including third-party payment processors.
It integrates well with numerous accounting applications to make accounting and reporting easier.
It eliminates transaction fees on Shopify.
Cons