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Shopify Payment Gateway Review 2017

Shopify began in 2004 as an online store called Snowdevil selling its own branded snowboarding equipment. Dissatisfied with existing e-commerce products they decided to build their own. It was so successful that they launched it as a product called Shopify. Shopify is a managed e-commerce platform that is able to manage products, stock inventory, customers orders, and more. The platform includes an easy to use content management system (CMS). The Shopify platform is used currently by over 120,000 online sellers.

Shopify merchants are able to accept payments online through a third party payment gateway or through Shopify Payments, its own payment processing system. The platform is integrated with around 70 Payment Gateways worldwide. Shopify are currently working with Facebook to implement a buy button on the Facebok Newsfeed, enabling Shopify merchants to sell their products straight through Facebook without users having to click through to a third party website.

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Shopify Payment Gateways

In addition to its internal Payment Gateway: Shopify Payments, the Shopify platform is integrated with around 70 payment gateways worldwide, 25 of which are available currently to UK merchants. Those are (in alphabetical order):

  • 2Checkout
  • Authorize.net
  • Bancontact/Mister Cash via Mollie
  • Braintree
  • Cardstream
  • CyberSource
  • DataCash
  • eWAY Rapid 3.1
  • GoCoin
  • IATS Payments
  • iDEAL via Mollie
  • Nochex
  • Optimal Payments
  • Payment Express PxPay
  • PaymentExpress
  • PaymentSense
  • PAYMILL
  • PayPal Express Checkout
  • PayPal Website Payments Pro (UK)
  • PayVector
  • Realex
  • SagePay
  • SagePay Form
  • SOFORT Banking
  • WorldPay

If you are considering setting up a Spotify website for your online sales, then you will need to select one of these options, and the best one for you will depend on many factors. Here we will review some of the more popular ones along with Shopify Payments.

ProviderComments
Shopify PaymentsShopify’s own built in payment system powered by Stripe. Easy to implement.
Sage PayOne of the most popular payment gateways generally, and also a good solution for Shopify. Sophisticated and highly professional.
PayPalAn easily implemented solution available to almost anyone, though lacks professional touch.
WorldPayHighly popular Shopify solution with high level of acceptance.

Shopify Best Payment Gateways Review

Shopify Payments

Shopify Payments became available in the UK in 2014. The system is powered by Stripe and has the advantage of offering transparent pricing that is competitive compared to similar payment processors. Additionally, there is no requirement for the merchant to have a merchant account which means that it is available to high risk merchants and new start-ups. It is easy to set up, and you can start accepting payments immediately. .

In many ways similar to PayPal, the only real drawback is that it is relatively expensive, and that established merchants with medium to high turnover should be able to find cheaper rates.

Price: There are three tariffs:

  • Basic: 2.4% of transaction value plus 20p
  • Professional: 2.1% of transaction value plus 20p
  • Unlimited: 1.8% of transaction value plus 20p

Sage Pay

SagePay is a popular Shopify Payment Gateway and one with an excellent reputation for security and customer care. While you will need a merchant account either with SagePay or an alternative provider, the SagePay Payment Gateway is easy to set up. While most Shopify merchants will choose to use the SagePay hosted payment page, it is also possible to fully integrate SagePay so that you collect card details on your own website, but you will require PCI DSS certification for this. Server integration and iFrame integration are also possible.

Price: There are two cost models: business and corporate:

  • Business – gateway charges are £15 a month inclusive of 1,000 transactions a quarter; additional transactions are £0.10 a transaction. Card processing charges are 1.99% for Visa and MasterCard payments, and £0.40 for debit cards. Additional charges apply for non 3D Secure processing and non-standard cards.
  • Corporate – this is individually priced.

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PayPal

Despite the competition, PayPal remains the most popular Shopify Payment Gateway. Its advantage is that it can be set up almost immediately and it doesn’t require the merchant to have a merchant account; you simply transfer the balance in your PayPal account to your bank account. The downside is that it is expensive for low volume s.

There is a range of checkout options all of which are readily integrated with Shopify.

Price: payment processing charges are from 1.9% plus 20p per transaction up to 3.4% plus 20p per transaction depending on sales volume.

WorldPay

Worldpay is the second most popular Shopify payment Gateway. Setting up a Worldpay account is straight forward and the company claims that it accepts over 90% of applicants. While small businesses are likely to opt for WorldPay hosted payment pages, larger business with PCI DSS accreditation can integrate the gateway in their own websites.

WorldPay payment gateway provides state of the art security and other features that make it a fully professional solution.

Price: From £19.95 per month. Processing charges are provided on an individual basis.

Verdict

The best payment Gateway for your Shopify e-commerce platform will depend on many factors. If online selling is new to you then you might find it better to start with either Shopify Payments or PayPal even if you are paying a little more. These are easy to set up and you don’t need a merchant account.

As your business grows you should consider switching to a more professional Payment Gateway such as SagePay. This has many more advanced features and your customers will have a better shopping experience. Your business will also appear more professional. You can apply for a merchant account with SagePay or an alternative provider while you continue to use PayPal in the interim.

Next Steps

Discovering how much different Payment Gateways will cost isn’t always easy as most provide costs on an individual basis. Rather than contact each payment processor individually, if you fill in our web form you will be contacted directly by several providers with quotes tailored to your specific business needs; this is a great time saver and could save you money too.