What is Shopify Payments?

[Update 05/07/2022] Shopify Payment is available in France!

Shopify Payments , you may have already heard of it, is a payment solution offered by Shopify in many countries.

This means that instead of going through a solution like Stripe, Mollie or Payzen, or your bank card solution, customers who order on your site will pay via a tool belonging to Shopify.

Why use Shopify Payments?

This is a legitimate question. What can Shopify Payments offer, especially if you already have Stripe or a credit card service installed on your site?

Well, the biggest advantage is no longer having to pay Shopify's commission fees. And yes, if you use Shopify Payments, you no longer have to pay commission on sales on top of your Shopify plan. This can be a huge savings for many Shopify stores!

In addition to this advantage appreciated by many merchants, Shopify payment has several other interesting features:

The ability to “exchange”: You can collect payments in dollars and receive euros from Shopify

Multi-currency Payments: With Shopify Payments, you can collect payments in multiple currencies simultaneously on a Shopify site.

Typically, a Shopify website can only accept payments in one currency. This currency is configured in the website's back office and cannot be changed after the first order.

With Shopify Payments, you can override this limit, although prices will be converted and rounded according to customizable rules.

Please note that Shopify Payments multi-currency is not compatible with multi-currency apps, so you'll have to choose between the two.

What are Shopify Payments' commissions?

Since Shopify Payments is a credit card collection service, it will take a commission on sales that go through the platform.

Shopify Payments is generally more expensive than many French payment solutions. It's important to note that credit card fees are often very low in France compared to other countries.

Here are the fees for European countries where Shopify is available:

Shopify Payments Commissions in Germany

Shopify Payments Commissions in Italy

Shopify Payments Commissions in Spain

When do you get paid by Shopify?

Another thing to know about Shopify Payments is that the money is not deposited into the bank immediately like with other credit card providers.

For European countries, it takes 3 business days to receive the money in your account. The payment is captured at the time of ordering, but you may have to wait a little while before seeing the money in your account.

For most banking solutions like Payzen, the bank transfer takes place the night following the purchase.

It's up to you to decide whether 72-hour cash flow is essential for your business or not.

Is Shopify Payments available in France?

Unfortunately, Shopify Payments is not yet available in France at the time of writing. As a Shopify Partner, we know that many discussions are taking place to bring Shopify Payments to France.

It makes sense for Shopify to offer its payment interface in as many countries as possible. France is no exception, but according to our sources, the rules and specific organization of the GIE carte bancaire are holding Shopify Payments back in France.

Shopify Payments is however available in many European countries: Germany, Netherlands, Denmark, Italy, Sweden, Spain, Ireland etc.

[Update 07/05/2022] Shopify Payment is available in France!

Shopify Payments is available in France!

Shopify Payments is now officially open to all stores in France, regardless of your plan. This applies from Shopify Basic to Shopify Plus. You can now once again take advantage of all the features offered by Shopify, the Shopify Payments API, and this opens the door to changing your checkout soon!

This also saves you money on each transaction to lower your Shopify bill.
Shopify Payments is easily accessible through your Shopify payment interface. If you'd like to switch payment methods, you can also contact our Shopify agency to handle the migration for you.