You can accept payments from your clients via your website using a payment gateway (Go to Settings -> Payments). It’s necessary to look at the pricing and commission rate, but it’s also crucial to look at the features they provide. Payment gateways are not all made equal.
When selecting a payment gateway, you should consider the following factors.
1. Transaction Fees
Some payment gateways keep a tiny percentage or flat fee (or both) for allowing you to utilise their service when you make payment.
2. Types of Cards Accepted
You must know what kind of cards your chosen Payment Gateway accepts. VISA and Mastercard are accepted by everybody, and American Express is accepted by the majority. Paypal is increasingly gaining popularity as a means of making online payments.
3. Offsite Checkout
Some payment gateways will process the transaction on their own servers, using their own forms. This implies the customer has pulled away from your checkout and directed to your payment gateway’s payment form. Once the buyer has successfully paid, they will be sent to your confirmation page. This gives you a little more control over the checkout procedure.
Shopify Transaction Fee Structure:
The basic rate of 2.4% plus 20p
2.1% + 20p for professionals
Unrestricted 1.8% plus 20p
It may be worth upgrading to take advantage of these savings, depending on how many transactions you do each month.