Basic to Advanced Guide to Shopify Payments: Streamlining Transactions with Ease

December 24, 2024

a) Shopify Basic Plan

- - - Access to Shopify Payments (where available).
    - Basic fraud analysis.
    - Standard checkout options: credit/debit cards, Apple Pay, Google Pay.

Best For: New businesses or those with small transaction volumes.

b) Shopify Standard Plan

- - - All features of the Basic Plan.
    - Advanced fraud analysis.
    - Reduced credit card processing rates.
    - Multi-currency support for selling worldwide.

Best For: Small to medium-sized businesses seeking global expansion.

c) Shopify Advanced Plan

- - - All features of the Standard Plan.
    - Customizable reports for payment performance analysis.
    - Better credit card processing rates.
    - Support for additional payment processors and manual systems.

Best For: Businesses with large transaction volumes.

d) Shopify Plus (Enterprise Plan)

- - - All features of the Advanced Plan.
    - Advanced checkout customizations (e.g., custom scripts for payment flows).
    - Priority customer support.
    - Faster payouts and customized fraud protection.

Best For: Large businesses or enterprises requiring maximum flexibility and features.

Available Regions

- - North America: United States, Canada, Mexico.
  - Europe: France, Spain, England, Germany, Netherlands, etc.
  - Asia-Pacific: Australia, New Zealand, Hong Kong, Japan, Singapore.
  - Other: Brazil and parts of the Middle East.

Regions Not Available

Use third-party providers like PayPal, Stripe, or Authorize.Net in regions where Shopify Payments is unsupported.

Feature	Basic Plan	Standard Plan	Advanced Plan	Shopify Plus
Credit Card Processing	Standard Rates	Lower Rates	Best Rates	Custom Negotiation
Fraud Analysis	Basic Alerts	Advanced Tools	Advanced Tools + Apps	Enhanced Fraud Detection
Multi-Currency	❌	✅	✅	✅

Additional Features by Plan

Feature	Basic Plan	Standard Plan	Advanced Plan	Shopify Plus
Accelerated Checkout	✅	✅	✅	✅
Manual Payments	✅	✅	✅	✅
Third-Party Gateways	✅	✅	✅	✅
Checkout Customization	❌	❌	❌	✅

Accepted Payment Methods:
- Credit/Debit Cards: VISA, Mastercard, American Express, Discover.
- Digital Wallets: Apple Pay, Google Pay, Shop Pay.
- Buy Now Pay Later (BNPL): Afterpay, Klarna (region-dependent).
- Local Payment Methods:
  - SEPA Direct Debit (Europe)
  - iDEAL (Netherlands)
  - Sofort (Germany)

a) Shopify Payments

- - Best for regions where available.
  - No additional transaction fees beyond credit card fees.
  - Natively supports multiple currencies and payment methods.

b) Third-Party Providers

- - Required in regions without Shopify Payments.
  - Ideal for advanced needs such as:
    - Recurring billing.
    - Specialized local settlement methods.

Popular Providers: Stripe, PayPal, Authorize.Net, Klarna, Afterpay.

Note: Shopify charges an additional 0.5%–2% for external gateways.

a) Multi-Currency Sales

- - - Display prices in customers’ native currency.
    - Use the Geolocation app by Shopify for dynamic currency switching.
    - Enable via Settings > Payments > Shopify Payments.

b) Fraud Protection

- - - Shopify Payments includes fraud analysis to flag suspicious transactions.
    - Enhance security with apps like Fraud Labs Pro.

c) Checkout Optimization

- - - Add trust badges for security.
    - Enable accelerated checkouts (e.g., Shop Pay, Apple Pay).
    - Offer diverse payment options, including BNPL services.

- Start Small: The Basic Plan with Shopify Payments covers essential needs.
- Scale Up: Upgrade to Standard or Advanced Plans as your business grows to unlock better rates and tools.
- Hybrid Solutions: Use Shopify Payments alongside third-party providers for regional payment needs.

1. Go to Settings > Payments in your Shopify admin.
2. Select Shopify Payments and follow the setup wizard.
3. Enable options like multi-currency and expedited checkout.