Shopify has become the preferred choice for businesses worldwide, whether starting a new venture or expanding an existing one, due to its ease of use, scalability, and diverse set of features. One of the most important aspects of running a successful Shopify store is providing the appropriate payment options to your customers. Shopify allows you to use a variety of payment gateways and methods, ensuring that transactions are seamless, secure, and convenient.

 

1. Shopify Payments

Shopify provides you with built-in functionality to pay using their credit card and debit card.

  • Shopify’s payment gateway, which supports major credit and debit cards (Visa, MasterCard, American Express, Discover).

  • No transaction fees when using Shopify Payments.

2. Third-Party Payment Gateways

  • Shopify integrates with more than 100 third-party payment gateways, including:

    • PayPal: Widely recognized and used in many countries, including the US and the UK, PayPal provides a secure and convenient payment solution for customers.

    • Stripe: A robust payment processor that supports a variety of payment methods and currencies, ideal for online businesses.

    • Square: Known for its easy-to-use interface, Square is great for businesses that operate both online and in person.

    • Authorize.net: A long-standing player in the payment gateway space, Authorize.net offers reliable processing and features for online merchants.

    • 2Checkout: provides global payment solutions, allowing merchants to accept payments in multiple currencies and languages.

    • Worldpay: A comprehensive payment processing solution that supports various payment methods and offers extensive reporting tools

3. Digital Wallets

  • Apple Pay: A widely used digital wallet that allows customers to complete purchases quickly using an iPhone, iPad, or Mac. Apple Pay is secure and doesn’t share card details with merchants, making it a preferred option for Apple users.

  • Google Pay: Gpay is for Android users. Android users can pay with Gpay using their UIP ID. Google Pay allows fast payments using stored card information. It’s widely accepted and is a great alternative for Android users, offering a seamless checkout experience.

  • Shop Pay: Shopify’s native accelerated checkout solution, Shop Pay, allows customers to save their payment and shipping information for faster checkouts on Shopify stores. It includes installment payment options and carbon offsetting for environmentally conscious shoppers.

4. Buy Now, Pay Later (BNPL) Options

Buy Now, Pay Later (BNPL) services have become increasingly popular for allowing customers to spread the cost of their purchases over time. Shopify integrates with several BNPL providers, offering flexibility for merchants and customers:

  • Klarna: Klarna allows shoppers to split their purchases into smaller, interest-free payments over time. It’s available in multiple countries and widely used across Europe and North America.

  • Afterpay: Also known as Clearpay in the UK, Afterpay is a BNPL service that lets customers pay in four equal installments over six weeks. It's popular in regions like Australia, New Zealand, and the United States.

  • Sezzle: Sezzle allows customers to pay in four installments, interest-free, making it easier to afford larger purchases. Sezzle focuses on providing flexible payment options for younger consumers.

  • Affirm: Affirm offers longer-term installment plans, with the option for customers to pay over 3, 6, or 12 months. Unlike other BNPL options, Affirm can also offer loans with interest depending on the payment plan and credit score.

5. Cryptocurrency Payment Gateways

Shopify supports digital currency like cryptocurrency as a payment option. The Shopify plugin for cryptocurrency payment gateways makes it easy to integrate your Shopify store and start accepting payments. This option appeals to tech-savvy consumers and provides a secure and decentralized way to pay for goods.

  • Coinbase Commerce: Allows merchants to accept Bitcoin, Ethereum, Litecoin, and other cryptocurrencies. It provides a user-friendly interface and connects directly with merchants’ Coinbase accounts for easy management.

  • BitPay: one of the most established cryptocurrency payment processors, BitPay allows merchants to accept Bitcoin and Bitcoin Cash and settle payments in local currencies. It’s highly secure and supports multi-currency transactions.

  • CoinPayments: Supports over 1,800 cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. CoinPayments offers comprehensive tools, such as automatic coin conversions and lower transaction fees than traditional payment methods.

6. Manual Payment Methods

  • Cash on Delivery (COD): A payment method where customers pay in cash when the product is delivered. It’s popular in certain regions, such as India and the Middle East, where online payment adoption is lower, and customers prefer to see products before paying.

  • Bank Transfers: Shopify supports direct bank transfers, where customers can manually transfer funds from their bank accounts to the merchant’s account. This method is common for B2B transactions or in regions where credit card use is less widespread.

7. Local Payment Gateways

To cater to international markets, Shopify integrates with a variety of local payment gateways that are popular in specific countries or regions. These payment methods allow businesses to offer options tailored to local customer preferences:

  • Sofort (Europe): A popular direct payment method in Europe, especially in Germany and Austria. Sofort allows customers to pay for goods directly from their bank accounts using a secure online banking process.

  • iDEAL (Netherlands): Widely used in the Netherlands, iDEAL facilitates bank-to-bank transfers in real-time. It’s a trusted payment method for Dutch consumers and can greatly increase conversions in that market.

  • Bancontact (Belgium): A leading payment method in Belgium, Bancontact is a debit card system that allows for secure and fast transactions. The majority of Belgian business owners trust and accept it.

  • Alipay (China): One of the largest payment platforms in China, Alipay is used by hundreds of millions of Chinese consumers for online payments. It’s essential for merchants looking to tap into the Chinese market.

Conclusion

Shopify’s comprehensive range of payment options, from digital wallets and BNPL services to cryptocurrency gateways and manual methods, empowers merchants to offer flexible, secure, and convenient checkout experiences. Additionally, Shopify’s support for local payment gateways ensures that businesses can tailor their payment options to meet the preferences of international customers. This flexibility enhances customer satisfaction and boosts conversion rates for Shopify store owners. Hire Shopify developer for shopify payment integration with your online store.