how long does it take shopify to pay you
Published on: February 7 2023 by pipiads
Table of Contents About how long does it take shopify to pay you
- Shopify Payouts Explained | Shopify Payout Schedule | Shopify Payout Report.
- How To Setup SHOPIFY Payments (Simple Method)
- Understanding your Shopify Payments Payouts || Shopify Help Center
- Shopify Payments Setup 2022 | Shopify For Beginners
- Everything You Need To Know About Setting Up Your Shopify Payments 2021
- Shopify Payment Gateways to Get Paid FAST | Quick Shopify Tips 2021
Shopify Payouts Explained | Shopify Payout Schedule | Shopify Payout Report.
all right guys, welcome to the video. this video is going to be about shopify payments and before i get started, i just want to say a couple of things that i'm not here to keep you entertained. i'm just here to give you some information that may or may not help the situation that you're in. um, so bear with me. and also the last video that i made. this is just a response to a comment that was made on it. someone was asking about why their payments is being held on their new shopify store, so i just decided it's easier to just make a video response showing what exactly is going on and what could possibly be the issue. so let's go to the question that they were toking about shop in five minutes and they said so. my shopify site is new and we made our first sale yesterday, but i don't see the money anywhere. i have shopify card, but my balance says zero. you know how i can get my money, okay. so there's a couple things that i responded to this video here. i mean to this comment here. first things first, if you have the shopify balance card, it's gonna operate like a regular bank account, okay. so once it passed 6 pm eastern standard time, everything else that comes in after that gets shipped to the next business day. so, for example, today is well not. for example, today is the 29th of november and it's a monday. so all the sales that came in between friday after 6pm until yesterday just before 6pm should get paid out today, and everything else after won't get paid out until tomorrow, the 30th of november. let me scroll out and show you for example. you can see right here. it says my pending payout. it doesn't show anything yesterday, before the payout was happening. this pops up for like a couple hours or so when it says: you know, pay out for like three thousand or something dollars. whatever it is equivalent to what was made over the weekend. so to see this, i can have the click here and say: view your shopify balance um account. or go on the left side and click on finances. for now i'm just going to click right here so you can see if this ever loads. it says available balance now to spend is 4 431 dollars and if i go back to see the rest of it, you can see the overview under finance. so you can just click the succeed anyways, and then to see your payouts. if you're not seeing it anywhere else. you just click on finances and scroll on and click payouts and you can see that today, on november 29th, this payment of three thousand four hundred and forty one dollars from the sales that accumulated this weekend is gonna get paid out into my account. so my balance will go from four thousand- whatever it is- to close to eight thousand dollars. um, i think seven thousand something or eight thousand something, but anyways, this sometimes doesn't show up in here, even when it says pending payout, and sometimes take longer, especially on monday, usually on the weekdays, between 8 and 9- 30, the money will be available to spend in my account. okay. so another thing that could be happening: if you don't have shopify balance, you just have a regular shopify account. let's get paid out into a bank account and you're wondering why your payments aren't getting paid as fast. it also takes some time. um, they get processed on business days unless your account is completely brand new. even if you get accepted to shopify payments, you still have to. after the first payment goes through, there's still like a down period where they verify all transactions are legit or whatever in your account and your status. so there's that, unless your store is brand new and they will tell you if they need stuff like that or there's something holding back your payments. but you can also check your payout frequency- how often you want to get paid- if you want to get paid daily, weekly, monthly, twice a month, whatever it is, um. so i'm going to explain this before i do it, because if not, i'm going to have to spend a lot of time editing this video just clicking on stuff. so first you're going to go to your settings. i'm going to click on settings and come back to you. once you're in your settings, you're going to scroll on the left side and click payments. once you're in the payments, if you're using shopify payments, it'll show this part right here. so if you have a balance account, if you don't have a balance account, there should be a section on this page where you're able to select your payout frequency. let me see if i can find it real quick. okay, so i just realized that because i have a shopify balance account, i don't have this option anymore. but if you don't have the shopify balance account, instead of seeing this right here, it'll tell you that you're able to schedule your payouts pretty much on any day you want. before i had it just scheduled weekly. so every week on friday, on a friday afternoon, i would get our friday morning. i would get paid whatever accumulated over the past seven days in my bank account to actually feel like i'm doing something, and then i could just use that to pay out my influencers and affiliates and everything else that's generated in revenue for my business. but, um, that could be another thing. the payouts won't show up anywhere else until your scheduled date. so if you have, you know you want to get paid once a month. you're not going to see any payments made until that date to that account that you want to get paid. so just keep that in mind. um, when you can certain this, uh, yeah, i think that's the best way to go. but if you're still having troubles with your store and it's like legitimate problems after your payment's still not showing up after several days, then be sure to contact shopify support and get the issue resolved to make sure it's nothing. you know there's not a bigger underlying issue there. okay, one last thing: i just got done recording this video and it's literally like a few minutes later and, um, the payment actually just came through that i was toking about the three thousand three hundred dollar payment. so let me just show you that real quick for your record. and to do that i'm just gonna click on finance on the left side and yeah. so again, once you're in finance you can just come to your balances and if this loads, you'll be able to see this here pretty quick. um, sorry to keep you guys waiting. so you can see that the total balance now seven thousand six hundred and seventeen dollars and you can see from the payouts that the recent balance just showed up in here. so a payment of three thousand four hundred forty one dollars just came in and you can see a pending balance of five hundred and eighty nine dollars. now this will continue to accumulate until six pm eastern standard time, at least for me. so anything after 6 pm tonight that comes in sale that will get paid out on wednesday. everything that happens now until 6 pm gets paid out tomorrow, on november 30th. hopefully this video was helpful. uh, the next video that i'm probably going to do about shopify is about accepted manual payments and why you should probably switch that for a little bit. uh, because that's been a real problem in my business, as you can see here. there's like three thousand return- and why that's the case. so, yeah, tok to you guys later peace.
How To Setup SHOPIFY Payments (Simple Method)
hey guys, Dean, here in today's Shopify video, I'm going to be running you through how to set up Shopify payments on your Shopify Drop Shipping Store. this allows you to accept any kind of payments which people are going to send you, typically when you sell any product on your dropshipping store, and this is a really important thing, because when people pay you, you want to go straight to your bank account, right, and we're going to set up all the different payment methods, or at least show you how that process actually works, to make sure you can accept payments as soon as you get sales on Shopify. now, typically, this is going to be based on how you want your store to be set up, right, so there's options to get paid directly to PayPal, which is obviously going to benefit a lot of people who just want quick payments and Easy System. PayPal has some pretty good security, but they mainly do favor the buyer of the seller in a lot of situations, and obviously you can receive direct card payments using stripe, which is shopify's partner too. so let's take a look at the Shopify dashboard and go on the shop, provide payments, and I'll explain everything from that. so here we are in the Shopify dashboard on one of my stores and basically, I'm going to show you how to set up the Shopify AI payments. so the first thing, what we need to do, guys, is just click on settings in the bottom left and it'll take you to your dashboard for your store here. okay, I have my store over here. I've just blurred out some of the crucial information, but we're going to click on the payment section on the left over here, and from here let's just take a look at all the payment options which Shopify give us as an option. so this is how we're going to accept payments from all of our customers and how we're going to process those payments and transactions and how we're going to acquire money at the end of the day. so, basically, this payment capture over here. so, if we manage this, this is the customer's payment method and how it's authorized and charged, and, by default, that's going to be on automatik. so there's the choice between automatik and manual capture. automatik captures payments for all the orders automatikally and the method is authorized and charged automatikally too, whereas if we select manually, you'll capture the payment method and it's authorized at the time of the order and you'll need to manually capture the payment within the authorization period. so this just adds another extra step in the process, which you just really don't need to do unless you just want to manually specifically look at every single order. you don't need to select manual because it's just going to add another step in the process and you want to be saving time here. so I wouldn't change that. I'd leave it on default and, as you can see down here, I have PayPal already active. that's what I activated it first and these are the additional payment methods. so the main payment system, Shopify payments- I will show you that in a few moments- but the additional payment methods- if you just want to sell PayPal, you can kind of just set that up instead. basically, PayPal is the main provider I'm using. the reason why I think PayPal is personally pretty good is because they have a zero percent transaction fee, and this basically means that when people make a purchase using PayPal on your store, you won't have to pay a cut of that towards PayPal for that sale. so that's really useful, or at least the customers also won't need to have a transaction fee. also, too, we can also click on ADD payment methods to add more, and you click manage on PayPal and over here I've connected my PayPal account. so typically, if you were to create a brand new store on Shopify, it'd have an option to activate the PayPal feature and then also link your PayPal account directly to your store, and that's how you would actually set it up. you'd be basically then log into your PayPal, get a code through your phone and then authorize it through Shopify to allow the permission for Shopify to use your account, and then you link it. it's a pretty easy process to set up the PayPal Express checkout. it allows you to receive payments in foreign countries with PayPal. so usually with a store you'd have to set up so many different Nationals and locales and set up each country and the taxes that people pay for those different countries and zones. but if you set up Paypal, it just does all for you. it's a very simple thing to do. if you don't have a PayPal account and you want to do some kind of e-commerce online, I really recommend setting up. okay now, I originally had a Paypal because I used to use it for eBay and for online work, but if you haven't got a PayPal, I think you're really sleeping on it because it's the easiest way to sell up. the only downside is, like I said before, PayPal do typically favor the buyers rather than the sellers. I've never really seen very good protection for sellers on PayPal. when we get to the stage where you may have refunds and chargebacks when using PayPal, it's probably the worst, but it is the safest and easiest payment process to use and I can't even moves along the heavy lifting and it's just really simple to set up. guys, you also have Amazon pay as well, so there's not many websites which typically you really seem to use Amazon pay, but you would click activate Amazon pay and you have to register as a merchant on Amazon for this right. so I would select United Kingdom and if you want to set up Amazon pay, you have to create an Amazon payments merchant account and basically the certain requirements needed to set up this account. so your online store must live and be accessible with products available for purchase. obviously, this is going to be your Shopify store, so you need to have products already activated in the store when you set this up and they must follow Amazon's acceptable use policy. so you need to obviously agree to their terms of service on their platform and you need to specifically specify the URLs you're going to use for their payment processor, which would be your Shopify URL and certain countries. there's certain revenue and turnover requirements, some items that you'll need when setting up. they'll need your image of your passport so they can do some kind of facial recognition and identity information regarding you, too, and details about your business- any vat numbers or business codes you need to provide- and that's how they do identity verification. just like on cryptokurrency platforms, when you want to sell crypto or any government gateways and websites, you need to provide your passport, some kind of ID and facial recognition, such as a picture of yourself, to actually verify it's you. it's kind of similar when you set up an Amazon Seller Central account to sell on Amazon or do Amazon FBA. you'll basically have to do a webcam live chat with one of Amazon's support reps and they'll verify it's you. that's what I had to do. I had to do like 30 minute or 20 minute call with an Amazon rep. I don't think you have to do that with this, but it's a similar thing where they need to verify your identity right and you need to register with Amazon pay and after registration, you check Seller Central and this is the One-Stop shop for updates. so, just like selling on Amazon, you use Seller Central just like an Amazon vendor would when you sell products on Amazon. so that's how to set up Amazon. if you want to use Amazon pay, that's another method. I'd recommend PayPal. it's much easier and you don't have to use a third-party platform as much, because you're gonna have to refer to the Amazon platform a lot more than you would have to log into PayPal. now, manual payment methods are payments made outside your online store. so if a customer wants to do a manual payment method, like cash on delivery, you'll need to approve this. I wouldn't recommend doing cash on delivery. cash on delivery is, for an example, if I was to do cash and delivery on an ebay account, that would mean where if I sell a product, such as a piece of furniture.
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Understanding your Shopify Payments Payouts || Shopify Help Center
Shopify Payments is the simplest way to accept payments from customers, But you may be wondering: how do you get paid? Hey guys, Nadeem here, Payouts are how Shopify Payments sends money made from your sales to your bank account. You’ll only receive payment through Shopify for orders that are paid for using Shopify Payments. If your customer uses an alternative payment provider, like PayPal, the money for those orders will be available through those third-party gateways. Make sure to check the terms of service of these providers for further details. If you have Shopify Balance enabled on your store, it is automatikally set up to receive your Shopify Payments Payouts. Otherwise, here’s how you can access them. Head to “Settings”, Then click “Payments”. You’ll see the option to “View Payouts”. Your Payouts screen will show the date of the payout, status of the payout, the total changes, refunds, adjustments, total fees subtracted the final payout amount. The pay period is the amount of time between the customer placing the order and the day you receive the money in your bank account or Shopify Balance account. Payouts are paid every business day as soon as those funds are available. If you choose to, you can schedule your payouts to be paid on a specific day every month or week To do this in the Shopify Payments section of your payments settings, click “manage”. Scroll down to set up your payout schedule. On the payout page, the datesare for the previous and next scheduled payouts. If you have a balance of funds available, that will also show here. By clicking on the date of a scheduled or previous payout you’ll see the details of the payouts, including the dates of all included orders, their corresponding order number, the type of transaction it was and, lastly, the charges, fees and the final amount you receive. The day an order is placed on your store is determined from the time that the order was placed. in the UTC time zone, Orders made from Friday through Sunday are grouped together. Once an order has been received, it will take a few days for the payment to be processed. The length of your pay period is determined by the country your store is located in. When using Shopify Balance, you can receive your Shopify Payment earnings in as little as one business day. If you’ve created a payment schedule, your pay period will be adjusted to take all of these into account. This can be a little confusing, So let’s take a look at an example. Let’s say your store is located in Toronto and your customer, Priya, makes an order on Monday at eleven am. It will be accounted for on Monday at four pm UTC time. Because the store is in Canada, it can take up to 3 business days to process. If you don’t have a payment schedule setup, the payout should arrive in your bank account by Thursday, the first available business day. Here’s a look at what happens if the order is on a weekend and you have a payment schedule set up. If Priya makes the same order on Friday at 8pm, the order will be accounted for on Saturday at 1am UTC time. Because this is the weekend, the payout will need upto 3 business days after Sunday to process the payout. However, if you have payouts scheduled for every Monday, you will only see the money in your account the following Monday. Keep in mind: the time frames provided are estimates and there could still be delays in receiving your payouts. If you have questions about your payouts, make sure to contact our support team. With Shopify Payments, you are only charged a credit card rate, which is a fee you’re charged every time a credit card is used. These fees are subtracted from your charges to give you the final amount you receive. Also subtracted from the total for charges are any refunds you’ve processed in this partikular pay period If your payout doesn’t have enough funds for the return. there are two possible outcomes based on your location. The remaining amount for the refund is either deducted from the next payout until the full amount has been covered, or the balance is deducted in full from your bank account on the day of your payout. To see which applies to your location, check out our links below. Keep in mind: when an order is refunded, the credit card fees for that order are not. If your payout balance is negative, you might not be able to issue a refund. In this case, refunds are listed as pending until you have enough sales to have a positive balance. Occasionally, you might see an amount in the adjustment column of your payouts. Adjustments are additions or subtractions from payouts that occur when changes are needed for your payout total. Adjustments might happen after winning a chargeback or from sales and returns from Facebook orders. After all these fees and adjustments are considered, your final payout amount is calculated. Adjustments are added or subtracted from your charges. From this, any other fees or refunds are then subtracted. This gives us our final payout amount. The status of a payout will either be displayed as In transit, meaning funds are in the process of being sent to your bank account Paid, which means the payout was sent to your bank but may still need to be processed before it can be deposited into your account. Or Failed. Payouts can fail because of an issue with your bank account. If a payout fails, you’ll be sent an email, a notification will appear in your admin and a hold will be placed on all future payouts until the issue is resolved. To resolve any issues with your account, you’ll need to reach out to your bank directly. Knowing where your money is and how you get paid is an important part of any business With Shopify Payments. it’s one step closer to your bank account. For more information on everything shown in this video, visit helpshopifycom.
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Shopify Payments Setup 2022 | Shopify For Beginners
shopify payment setup. hi guys, welcome back to another video, and in this video, i'm going to be telling you how you can set up payments within shopify. so, having said that, let's just jump into the video. so i'm over here on shopify right now and what you'll do is just simply log in right now, if you already have an account, you can just simply log in. if you don't, you can just sign up by entering in your email address over here and starting your free trial. uh, there is a pricing plan, however, so let me just show you, if you were interested in that one. so, over here, as you can see, these are the plans. we have: the basic, the shopify and the advance. you can see their payments over here, how much they cost. the basic one is going to be 29 per month, the shopify is going to be 79 and the advanced one is going to be 299, and you can see all of the rates and features that they have over here, and if you scroll down, you can see more stuff as well. over here, you can see more features as well within each plan in a more comprehensive and detailed manner, so that you can know which plan you want to try out. but yeah, then you're good to go. so first, i'm just simply going to go ahead and log into my store and i'll show you how you can set up payments. so we'll just simply log in into my store over here now. once you have logged in, you've arrived over to your dashboard, or your admin. what you're going to do is you scroll down. what you're going to do is just navigate yourself over here at the bottom left corner, click on settings and open up settings, and over here you will see you have billings plans, payments, checkouts and all of that. just simply click on payments and over here you will have three options. you will have payment providers, supported payment methods and manual payment methods as well. so, over here, choose whichever payment method you want and then, for example, if you wanted to have like payment providers, you just simply click on choose a provider and choose a provider from this list that you can see over here. if you want to add a payment method yourself, you can add that. over here. you can search for a payment method. over here, as you can see, we have visa, mastercard, diners and all of that. let's say you want a visa, mastercard, right, and then you will have skrill, ocean payments, ping pong checkouts to check out, convert plus i pay, hit pay, credit card, debit card- all of that. you can choose that, or you can add like a manual payment system, like a bank deposit, money order or cash on delivery. it all depends on you. so for me, i think that going into payment providers and choosing one of these is much better. like you will see, you will have if a payment method is not available in your country, it will just say unavailable within your country and it will show you the ones that are available at the top. so currently, to check out is available within my country, so i'm going to be choosing that one. it does support a very large number of cards, such as visa, mastercards, american express, discovery, jcb and diners club as well. yeah, so we're going to click onto checkouts account. we have a server error, but it still works. now. over here, you can choose which type of card you support, so i'll just support all of them and then, over here, they basically give you like a set up instruction on how to get it working. so they have like a 10 step account which is very simple to you know. get started. so, first things first, we have to create a to checkout account, so let's go ahead and click over here. actually, i need to open it up in under the tab so that it's much more convenient, so i'll just open it up in another tab over here. so over here, it's very simple. you can sign up for free by just simply clicking on this button over here and adding in your details, such as your first name, your last name, your business email, password, website and your country, and it's very easy. so over here, i'll just say i'll just enter in john doe and then, over here, we'll add in our business email, which is my temporary email. so i'll just go ahead and do that. i'll copy the email, come back over here and paste it, and then i'll enter in the password. and for the website, we'll just, you know, copy this one, copy the link address and come over here and paste it. i'll get rid of that. yeah, that looks good. then we have our country, we check the robot and then we click on. get started. there you go, it's done. now what we need to do is: what type of products do you want to sell with? to check out, online service, digital products for retail, offline service or others, since this is a shopify store. so we'll just say retail and we'll click on create account. now i do have to mention that creating a to checkout account is not easy, like it's not. it is easy, but it's just not very, you know, short. it's very detailed. you got to do a lot of things. you got to input a lot of information to actually get started with two checkouts account, which is pretty. you know hectik. they just ask you for a lot of information in order to actually get started with it. so over here they're: basically, if you are a partner slash seller, click here. so i don't think this is it. i haven't created my account, but i'll, let's see. yeah, okay, that works. so now we are here, we just have to activate our account. now, in order to activate your account, it's very simple: you have to input all this information, right? so before you start, you gotta provide this. you gotta add information about your business: you know your company name, your business type, where it is address, all of that. then you gotta input your financial details, such as the company registration id, uh, tax registration, ad id, annual online transaction volume and everything else. you will also have a stakeholders option over here. if you have some, you can go ahead and add your stakeholders over here. if not, you are good to go. then you have about your products and services. so you have to input your information about your product and all of the services that you provide. then you have account settings- okay, and then you have your documents as well. so you got to input your business document, company ownership document, tax identification, valid proof of address, other documents, and then, down below, you will have your summary. so you gotta make sure you input all of these information. then, once it's done, once you've submitted it, you wait for a couple of days to hear from to check out. they'll send you an email and then they'll activate your account and you are good to go. but, uh, since i don't have time for that and i don't have all this information, we'll just save that for later and i'll show you how you can basically activate it, right? so to activate it, as you can see over here, we have to log into a checkout account. once we've activated it, we have to access the integrations option. then we have to go into web hooks and api sections in your cpanel. all right, so let's go over there- integrations. over here on the left side, and underneath integrations, we have web hooks and api. we'll go into there. there we go, as you can see right here now. next, under api section, copy the merchant code and paste it within the merchant code field on this page over here. as you can see, we have the merchant code over here and we have the secret word over here. so over here you will see, underneath api keys, this is the secret word right here, this is the ins and we have it over here and this is the secret key and this is the merchant code. so we'll just copy the merchant code. we'll come over here and paste the merchant code right here. then we have to input the secret word. so, over here, go back, scroll down. this is the ins sacred word. we just have to click on generate to generate the word and click copy and then click on save. there we go, it's saved. then we just come over here and we paste it right here. then, over here, what we need to do is- we've already done save settings, yeah, and then in the redirect url section, click enable return after sale. so scroll down below over here. this is the ins notification. we don't need to do that, we need to d.
Everything You Need To Know About Setting Up Your Shopify Payments 2021
all right. so in this video, we're gonna be going over everything that you need to know about setting up your shopify payments, as well as some commonly asked questions that an ordinary person would ask when it comes to getting paid on shopify. so that's basically what's happening. [Music]. what's up, guys? my name is hannah garner, if you are new to the channel. in this channel, i tok about anything and everything that has to do with e-commerce and making money online, so if that is stuff that you are interested in, please do go ahead and subscribe to the channel, because i am putting out videos regularly. all right, i'm gonna hop in to my computer and i'm gonna screen share with you exactly how to set up your shopify payments. so this is the inside of a shopify payments page, and the way that you actually get to this is just by going to your settings in the bottom left corner. once you hit settings, it's going to bring you to shopify payments. all right, so this is a shopify payment page that's actually already set up, but it's very, very easy to set up your shopify payments. this one right here that i'm pointing to um, because basically what it is is it's a payment processor already inside of shopify. so that means that when you make a sale and someone checks out with shopify payments- which is actually stripe, stripe and shopify or partner together- shopify is actually going to be the one that's giving you the funds. now, if you set up paypal, which you can offer both of these payment gateways for your customers, um, your paypal payments are actually going to go into a paypal account. so that means that you're actually going to have to log in to another you know processor, which is paypal, and you're going to have to deposit the money to you inside from your paypal account now in shopify payments, because shopify and stripe, which stripe, is just another payment processor, just like paypal, um, because stripe is partnered with shopify. that's why you don't actually have to like manually go into your shopify day and give yourself your deposit, because you can set it up manually where they give you the deposits every day, every week, every month, however you want to do it. most people like their money every day. i mean, i like my money every day. so you get the point all right. so the first payment provider that i highly highly recommend you, that you do, you know, set up is your shopify payments, because that is gonna be next to paypal, one of the most common ways people are going to purchase things in your site, inside your store. so, um, basically, because mine's already set up, you'll actually see a button here that says set up your shopify payments and basically the only pieces of information that you're going to ask for, which mine's already set up here. but it's going to ask you for, basically, obviously, your name, your address, your business ein number or your tin number, if it's applicable. so, if you do have an llc, it's going to ask you what kind of business you're operating. so, if it's a llc, if it's a sole proprietorship, if it's a whatever type of business you set up, but mine's an llc- most of you guys are probably going to be an llc or a sole proprietor- you're going to basically classify your business, give your business address, the name of the business, and then your name and then your business address. those are basically all the things that it's going to be asking for. it's nothing rocket science, it's information that you should have at your fingertips, but basically that's all it takes to set up a stripe account- that's, you know, integrated with shopify, or a shopify payment account. now, another thing that you just want to make sure, once it is set up, um, is you want to make sure that all these credit cards are enabled? um, what you're going to see here- one of the first things that you're going to see- is the standard rates. so if you don't know, just like when you go to publix and you pay with a credit card, or if you don't have public, if you go to the grocery store and you pay with a credit card, the business actually has to pay a merchant fee. so there's a fee that comes with using your credit card for the business that you're purchasing from. so, just like you know, the grocery store has to pay for the fee. when they have a transaction, you also have a merchant fee as well, and those fees are usually around three percent, or in this case it's 2.9 percent plus 30 cents per transaction, and i'm going to go into a little bit more depth of that and show you some numbers from my back-end so you can see where those fees are actually deducted from your balance when you get paid. so you want to be make sure that you are taking all these credit cards. different credit cards have different rates. these are the standard rates here, um, so i don't know you're gonna have. you have to pay these fees anyway, and i wouldn't forfeit a sale by not accepting one of these credit cards if it is a little bit more expensive than a different credit card, because, at the end of the day, merchant fees exist everywhere, so you might as well make the sale anyway. um, you want to make sure that all these are enabled, um, in the us. obviously you need to make sure that your bank account is linked to your payout, your payout details, which all that requires is your routing and your account number, which is something that you just get from your bank account, personal or business. um, and then you're going to ask- it's going to ask- your payout schedule. i obviously want to get paid every day, so your payout is going to be every day, monday through friday. um, it's not going to obviously give you a payout on monday or saturday and sunday, so you'll be getting your. you'll be getting a monday payout and then usually tuesdays will be your biggest payout, because it's going to accumulate the money that you made over the weekend and it's going to deposit it on tuesday. um, you want to enable notifications if you want to get notified every time you get a payout? um, fraud prevention. i'm just declining charges that fail cvv verification. um, i just automatikally decline it. and if it failed, then you know, obviously they have to like do it again just to keep as many low risk orders, to keep my orders as low risk as possible. um, the customer billing statement, so the customer statement description- is what your customer actually sees when it hits their bank statement. so you want to make sure it's like your company name, because- and this is very, very, very important, because if you put something in here that they don't recognize, what you're going to find is they're going to be disputing charges on their credit card and you don't want that happening, because dealing with disputes is a we can bleep that out. um, so you want to make sure that the description is something that they're going to recognize so they know that. you know when they see it, they're not going to be like: oh my god, what's this purchase? this is not me, and then they're going to like call their credit card and say that they didn't make that purchase when you did. um, obviously, um the phone number as well, just in case that does happen in the bank, it can get into contact with you. um. so, yes, this is everything that you really need to do when you're setting up shopify payments. it's very similar when you're setting up, just like a venmo account or a paypal account, which is the next thing that i'm going to tell you to do is offer paypal payments as well, which is basically, if you already have a paypal account, you just link your paypal account here. if you don't go to paypalcom and do open a business paypal account, don't do it personal. don't try to make it sketchy, because you're eventually gonna get caught. if you're trying to make a business, set it up properly, make a paypal business account and then sync it here. um to allow paypal express checkout. i would say that my sales between paypal and stripe is like 70: 30, 30 is paypal, so a lot of people do use paypal and are used to using paypal um, now, as far as any other payment providers, there are different types that they
Shopify Payment Gateways to Get Paid FAST | Quick Shopify Tips 2021
in this video, we are going to tok about different payment methods so that your customers can pay you very quickly- super important, right? [Music]. there are a lot of different payment methods that you can do for your shopify store so that customers can easily check out on your store and pay you for their orders, and a lot of this will depend on your location as well as your industry, so it's really hard to say specifically what's going to be right for you. however, in this video, i want to cover the different payment options, so you know what options are out there. so, first off, there's a lot of different third party providers. you can go into the shopify back-end and see the huge list of different third-party providers there, and they all have their own different transaction fees and rates. so, again, you may want to go with a specific third party provider based on your location or your industry, like if you were in cbd oils or skin care, things like that. they're a little bit more regulated in terms of industries and not allowed on the shopify payments plan, so you may want it to go with a different third party provider just based on the industry alone or, again, based off your location. the downside of using a third party provider, though, is that there are additional transaction fees through shopify, so you're gonna have to pay transaction fees for the third party provider as well as shopify transaction fees, so that one does sting a little bit there. however, if you're able to negotiate some lower rates with the third party provider, then it may actually even out so toking about shopify payments. that is the default payment provider for a lot of shopify stores, and it makes it really easy to get set up and linked to your bank account. so there are different transaction fees that you have to pay based on which shopify plan that you choose. obviously, the higher end plans, as you go up, have better rates there, so it really depends on your sales volume and how many orders you're getting, based on what plan you want to choose, because then that really comes into play when it comes to those transaction fees. there are also express checkout options like paypal express and amazon pay. these can be really helpful, because people already have their credit card information, shipping information, things like that- set up with these providers, so it makes it a faster checkout process for your customers, which faster checkout is always better. so you can easily set up these options for your shopify store so that customers can easily pay you on your site and pull in all of that information automatikally. there are also alternative payment options, and this one i really love to use quad pay for, so i've done another video all about quad pay, as well as listed it into our top seven trends for e-commerce for 2021. but what quadpay does is it actually lets you set up financing so your customer can take this big bulk order- it has to be over 35- and they can divide it into four different installment payments over a six week period of time. so you get paid all up front, but your customer gets to split up the payments, so it's a little bit more manageable for them. this is really helpful to kind of get customers to spend a little bit more on your site so that you know it doesn't feel as intense of having to pay this huge lump sum payment, but instead they can then divide that up and again you get paid all up front. so it's really just a nice benefit to offer your customers and it's really easy to set up on your site. so i'm not going to go over how to set up quad pay in this video, because we already have another video tutorial showing that. so if you're interested in setting up quad pay and doing financing on your site, if you just want to learn more or see the step-by-step tutorial, i'll actually put a link to it in the description below and in the info cards above as well. so you want to keep in mind that if you add too many options, it may be too many to clutter up your site as well, as it may give too many options just for your customer overall and they end up choosing none of the options. however, you want to make sure that your customers are able to check out really fast, because you don't want them to end up abandoning their order on your site and just leaving your site. so making it really easy for customers to check out really fast and seamlessly should definitely be a huge priority for you for your shopify store. i hope you found this quick tips video helpful- all about shopify. we've got a whole playlist here of other shopify quick tips videos, so make sure to check that out and, if you haven't yet, also make sure to subscribe. we post new videos every week, all about shopify and how to grow your online store.