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What Are 'Shopify Payments'?

Paige Harris Jul 1, 2022 12:56:00 PM

If you’re like many online store owners, you’ve been eagerly waiting for Shopify to release their own payment solution. Now that it’s finally here, you’re probably wondering what it is, how it works, and whether or not it’s right for your store.

You may also be wondering whether it will add to the list of costs already associated with running a store, such as the cost of a Shopify cookie banner

‘Shopify Payments’ is a payment processing platform that allows Shopify merchants to accept credit and debit card payments directly through their store, without having to use a third-party provider.

In other words, it’s a way for you to take payments without having to go through the hassle of setting up a merchant account and dealing with the fees that come with it.

How Does ‘Shopify Payments’ Work?

Shopify Payments is powered by Stripe, which means that it uses the same infrastructure and security as Stripe. When a customer makes a purchase on your store, their credit or debit card information is sent directly to Stripe, where it is then tokenized and stored.

The advantage of this is that it eliminates the need for you to store sensitive credit card information on your own servers, which reduces the risk of a data breach.

Furthermore, because Shopify Payments is integrated with your store, all your orders and customers will be synced automatically, making things easier to manage from a back-end perspective.

CTA Cookies Graphic - YellowWhat Are the Benefits of Using ‘Shopify Payments?’

There are many benefits to using Shopify Payments, including:

  • Time saved by not having to set up a separate merchant account
  • Money saved on transaction fees, as Shopify will waive all processing fees for transactions processed through their platform
  • A better experience for customers, as they’ll be able to checkout faster and without having to leave your site
  • Access to Shopify’s fraud protection tools, which can help you avoid chargebacks

Who is Eligible For ‘Shopify Payments?’

Not all countries are currently supported by Shopify Payments, but the company is constantly expanding their services to new regions. Current countries supported by Shopify Payments include:

  • Australia
  • Canada
  • Germany
  • Hong Kong
  • Ireland
  • Japan
  • New Zealand
  • Singapore
  • Spain
  • United Kingdom
  • United States

If you’re not sure whether your country is supported, you can check the Shopify Payments page for the most up-to-date information.

In addition, certain business types are prohibited from using Shopify Payments. In the US, these include investment and credit services, adult services, and businesses related to gambling, virtual currency, and legal services.

How Much Does ‘Shopify Payments’ Cost?

There are no additional Shopify fees for using Shopify Payments. You will only be charged the standard credit card processing fees, which are 2.9% plus $0.30 per transaction for the Basic Shopify plan. 

In addition, you'll need to purchase a monthly Shopify subscription. Shopify currently offers three monthly plans, which start at $29/month. For high-volume businesses, the most premium subscription level is Shopify Plus, costing $2000 a month.

How Do I Set Up ‘Shopify Payments?’


If you’re interested in using Shopify Payments for your store, setting it up is easy. Just log in to your Shopify account and go to Settings. Next, click on Payments and then Activate Shopify Payments.

You'll then be asked to enter the required information, which includes your business address, employee identification number, phone number, and bank account details.

Keep in mind that Shopify Payments works only with a checking account, and your account must be able to accept electronic transfers and use the currency in your region.

Once you’ve completed the set-up process, your customers will be able to make purchases using Shopify Payments the next time they visit your store.


Shopify Payments is a great way to streamline the payment process for your Shopify store. Not only will you save time and Shopify costs in running your store, but your customers will also have a better experience. 

If you’re eligible for Shopify Payments, we highly recommend using it for your store. Keep in mind that you’ll need to operate your business in an eligible region with a checking account in order to utilize the service.

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