Shopify Payments Review: Pros, Cons, Alternatives

Shopify Payments – is an integrated payment service, which in turn provides the ability to accept payments in a fast way, immediately after registration. Thus, a service such as third-party provider settings for processing is already included in all subscription plans.

It is worth noting that when paying with Shopify Payments, there are several payment methods at once. Fairly fast processing is provided. Thus, this makes it a wonderful choice primarily for businesses that use Shopify for an e-commerce platform or point-of-sale system.

It is worth noting that Shopify Payments is not able to work everywhere, in some countries it is not available. Thus, it does not work with enterprises in some industries that have a high enough risk, this must be taken into account.

How Shopify Payments works. 

Shopify Payments provides the ability to make payments through the Shopify online store. Because Shopify Payments is capable of doing the payment processing itself. Thus, it is possible to quickly accept payments, from the first minutes the store starts working. So Shopify Payments are integrated into Shopify stores. This is very convenient, because customers can place orders very easily, and businesses can easily store their payments and sales information.

It is possible to work with Visa, Mastercard, Discover and American Express credit cards. It can also automatically accept Diner Club debit and credit cards, as well as Elo, JCB, and Union Pay through Discover. Today, such versatility in terms of payment is highly valued. Thus, various businesses are able to choose plans that provide the ability to sell in multiple currencies and manage their online stores for international customers.

Thus, many payouts for stores in the US are able to reach bank accounts within one to two days. Shopify Payments does not reduce transaction volume. Therefore, each transaction follows the same payment schedule. There are exceptions where Shopify Payments will require a 30-day payout period or a reserve of funds to address potential issues. In any case, you will initially see a notification if this can somehow affect the store.

So, first of all, you need to decide on an e-commerce plan in order to set up an online store and continue to use Shopify Payments. Each plan contains a different set of features. Consequently, there is a different set of transaction fees for online sales and in-person sales. When using Shopify payments, no additional payment is required.

Pros of Shopify Payments

Variety of ordering and payment options.

First, it’s worth noting that Shopify Payments provides customers with the ability to apply various payment methods. This way you can use credit cards, debit cards, and also PayPal. This way, buyers don’t have to leave the website to place an order and submit payment. Shopify stores are automatically PCI-compliant for secure payment processing.

Secondly, Shopify Payments provides the ability to make all the necessary settings for the checkout page. Therefore, it is possible to make sales in different languages and in different currencies. Another important point is the potential for accelerated payments. First of all, this is necessary so that customers can quickly fulfill certain orders.

Ease of setup and use.

Shopify Payments is now integrated with all Shopify subscriptions. This is highly appreciated, as it provides an opportunity to easily start accepting and processing customer payments immediately after the launch of the store. This is a very important point since it is integrated as part of the Shopify ecosystem, it is easier to do than to subscribe to a third-party processor and connect it to Shopify.

Since Shopify Payments is built into the Shopify platform, you can easily monitor the progress of your order and payment processing. It is also possible to track your orders and payments. An important point is to set up a payout schedule, which can include fraud filters and perform fraud analysis. All of this, in turn, can go a long way in helping you identify suspicious transactions—all within a single account.

Transparent, fixed fees.

Firstly, all the payment processing fees that come with the implementation of Shopify Payments are quite transparent and fixed. This is very important because they do not change regardless of what type of card the client uses when making a purchase.

Secondly, Shopify’s rates are competitive in the market. All this does not depend on whether these are personal or online payments. It is possible to have access to the lowest rates if you upgrade your subscription. Hence, there is a big difference between Shopify payments and other providers. When implementing Shopify, they will simply charge you the online payment rate, while another provider will charge you a higher rate for manual payments.

Cons of Shopify Payments.

Monthly fee (slightly higher when using more features)

Shopify incurs monthly fees for eligible eCommerce plans. This fee must be paid when using Shopify Payments. Therefore, this cost is in addition to the transaction fee charged for processing payments. Thus, the cost of advanced plans can rise to about $300 per month for implementation of an advanced plan.

Third-party gateway fees.

Shopify requires additional funds if a different gateway is used to process online payments. All this happens when a company makes it easy to use their own gateway, businesses that prefer to use a third-party option, thus will leave more money with each transaction made.

Alternatives to Shopify Payments.


Stripe is a good enough option for those businesses that want to customize their online payment experience in the first place. This provides a good developer platform, 24/7 customer support, and many different payment methods.

For businesses looking for a more convenient checkout experience, Stripe provides out-of-the-box integrations with e-commerce platforms, accounting software, and more.


Today, Shopify Payments is quite popular. When implementing it into work, it is worth remembering the pros and cons that you may encounter. An important point is the fact that you can pay with absolutely different cards, and you can make payments in different languages and different currencies. However, you should understand that if you use advanced features, the payment will be higher. There are many nuances that can be encountered in the process of work, however, the Shopify development company is ready to answer all your questions.

the authorABHIYAN
Abhiyan Chhetri is a cybersecurity journalist with a passion for covering latest happenings in cyber security and tech world. In addition to being the founder of this website, Abhiyan is also into gaming, reading and investigative journalism.