Logistics

What to consider when selecting a payment provider?

June 30, 2021

Payment gateways (Settings > Payments) allow sellers to accept payments from consumers through their websites. Price and commission rates are important, but it also depends on the features offered by different payment providers. When choosing a payment provider, sellers need to consider.


Transaction processing fees


Some payment providers charge a fixed fee for processing fees, and there are also payment providers that charge a rate commission on individual transactions, which sellers can choose from depending on their shop revenue.


Supported cards


Determine the card type supported by the payment provider. Almost all payment providers on the market today support VISA and MasterCard, American Express is also a popular choice, and PayPal is a good option.


Out-of-store checkout


Some payers require users to jump to their payment page during the checkout process, which in some ways means a longer payment path for the consumer and is likely to increase cart abandonment; this can be somewhat avoided if the seller keeps the consumer on their site to pay - and Shopify Payments is a good option, but is currently only available for shops in the US and UK. Shopify Payments is available for an additional fee, which varies depending on the Shopify account package.


-Basic package is 2.4% + 20p


-Professional package is 2.1% + 20p


-Unlimited package at 1.8% + 20p

【Source text: by report】

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