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Shopify and payment processing

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krisn

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Apr 9, 2021
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Any experienced shopify shop owners on this forum?

Looking for an advice on payment processing

Are shopify payments a feasible thing to rely on? Been reading about them people say they are okay to start with but I'm wondering as you scale as well do shopify plus members or even shopify / advanced shopify members with decent volumes of few million $ / year rely on shopify payments still? Or is that something you want to take control of as you grow the sooner the better?

In unscripted MJ talks about having control over your site and various elements of your system... There are payment gateways like EPD that offer merchant solutions under them and you can set payment processing distribution like 30 40 30 between 3 payment processors for instance so if any payment processor was to suspend you for any reason whatsoever you continue on selling uninterrupted... They market themselves for "high risk businesses"... Ours isn't really a "high risk" we really have a customer centric approach, always issue refunds, most of our reviews are 5* and customers love our products and they recommend us to their friends all the time but that's not the point.

The way I see it even if you are doing everything right you want to have options, I mean if shopify payments was to suspend you for any reason / hold your funds - you lose payment processing on your site right to me that's high risk. Anybody this happened to in the past? What did you do then?

Is shopify payment something you can rely on as long as you play by the rules or you always want to use payment gateway with multiple payment processors even if everything is top notch and you take good care of your customers?
 
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biophase

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I think you can rely on shopify payments. As long as you aren’t selling anything high-risk or doing anything shady on your website. They do take between 1% and .5%. You can get your own payment processor if you want but then shopify tacks on an extra percentage point to each purchase. You can also add PayPal, google pay to your website.
 

JasonR

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I don't think using Shopify and their payments violates the commandment of control. If Shopify payments doens't work out, there are dozens of others of providers.

We run several million through Shopify pay a year, and are very happy with it. Only once have we hit a snag - when we were running preorders last year and our chargebacks were high. Shopify reached out, asked what was going on, understood, and continued as normal.

Shopify pay does NOT like high risk merchants (firearms, supplements, etc.) so if you're in any sort of those spaces you need to go with a different payment provider.
 

Chris McCarron

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Jun 26, 2017
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Any experienced shopify shop owners on this forum?

Looking for an advice on payment processing

Are shopify payments a feasible thing to rely on? Been reading about them people say they are okay to start with but I'm wondering as you scale as well do shopify plus members or even shopify / advanced shopify members with decent volumes of few million $ / year rely on shopify payments still? Or is that something you want to take control of as you grow the sooner the better?

In unscripted MJ talks about having control over your site and various elements of your system... There are payment gateways like EPD that offer merchant solutions under them and you can set payment processing distribution like 30 40 30 between 3 payment processors for instance so if any payment processor was to suspend you for any reason whatsoever you continue on selling uninterrupted... They market themselves for "high risk businesses"... Ours isn't really a "high risk" we really have a customer centric approach, always issue refunds, most of our reviews are 5* and customers love our products and they recommend us to their friends all the time but that's not the point.

The way I see it even if you are doing everything right you want to have options, I mean if shopify payments was to suspend you for any reason / hold your funds - you lose payment processing on your site right to me that's high risk. Anybody this happened to in the past? What did you do then?

Is shopify payment something you can rely on as long as you play by the rules or you always want to use payment gateway with multiple payment processors even if everything is top notch and you take good care of your customers?

You're getting way ahead of yourself and the reality is that you'll need to use something to process payments.

Can you be suspended for having an opinion that differs from the company processing your payments? Yes and as insane as that is, it won't happen unless you're very high profile, doing something illegal, or in an industry viewed as unethical by the company.

Shopify use Stripe to process payments and they handle the fees before they release payment (from memory its 3 days).
 
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Kassadi

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Dec 9, 2020
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You can definitely rely on Shopify payments. I've been owning a shop here for 2 years already and no problems with payments yet. Of course, you shouldn't sell anything barely legal like firearms or other high-risk products. Still, sometimes their system crashes and you can't accept payments for a limited period of time. It's not a disaster, but still, makes people nervous. I think Shopify should implement smth like gambling payment processors which usually work without such issues. The biggest advantage, though, is the high speed of transcations, so you shouldn't wait a long time to close the deal.
 
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cy-

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Can you in any way be more specific as to perhaps your industry or the type of product?

As others have mentioned generally you wont run into issues processing payments with Shopify Payments if you are selling completely normal products (not firearms, medicine or other things requiring licenses etc.).

Shopify Payments used to be a partnership they had with Stripe, I don't know if it still is, but Stripe is indeed not for high risk merchants.

But many enterprise merchants often have different payment providers to spread out their risk and so do a lot of high risk merchants.

I will gladly give my opinion on what your best options are, but I need slightly more detail to give any useful information..
 

Mongol

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Dec 29, 2019
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You can definitely rely on Shopify payments. I've been owning a shop here for 2 years already and no problems with payments yet.
 
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