An eCommerce store needs a way to collect payments for orders placed by customers. You could, technically, ask customers to pay for collection or delivery. However, this isn’t very reliable and it can often mean that you sometimes end up out of pocket when servicing customers.

The better option is to have payment gateways on your Shopify store. Payment gateways are solutions that can take and process payments on your behalf. They will take a small fee for the action and then deposit the remaining funds into your accounts.

Making money with Shopify is essential for the success of your online business, and integrating a reliable payment gateway is a crucial step in achieving this.

Key Takeaways
1
Login to Shopify and navigate to ‘Settings’ then ‘Payment’ for Shopify Payments or ‘Payment Providers’ for third-party gateways.
2
Choose ‘Shopify Payments’ to integrate directly or select a ‘Third-Party Credit Card Provider’ based on location, audience, or budget.
3
Complete information accurately for Shopify Payments or third-party providers, and finalize setup by clicking ‘Complete Account Setup’ or ‘Activate’.

Shopify Payments and Setting Up Your Store

There is a solution provided by Shopify that is called Shopify Payments. This is a great gateway for most eCommerce stores on Shopify. There are certain rules that you have to abide by when using Shopify Payments, but these are straightforward and are aligned with what you can sell on Shopify anyway.

Before adding a payment gateway, it’s essential to set up your Shopify store correctly. This includes configuring your products, shipping options, and store policies. A well-designed and user-friendly store will help increase conversions and streamline the checkout process.

Setting Up Shopify Payments On Your Store

Follow these simple steps to setup Shopify Payments on your store.

Step 1 - Login

Login to your Shopify store using your store credentials.

Step 2 - Payments

Then you need to go to your ‘Settings’ and then to the ‘Payment’ section of your website.

Step 3 - Accept Payments

Now click on the option that reads ‘Accept Payments’ and then select the option that says ‘Add a Provider’

Step 4 - Shopify Payments

Now click on the ‘Shopify Payments’ option and click on the ‘Continue’ option.

Step 5 - Complete Account Setup

Now you will need to click on the option, ‘Complete Account Setup’. Once this is done you will be taken to an online form. You need to complete the online form with all the relevant information and ensure that everything is accurate. Check the details at least twice and perhaps ask a partner/accountant to double check for you if necessary.

Step 6 - Complete

When you’ve checked everything, click on the ‘Complete Account Setup’ option. You will then be setup for Shopify Payments.

Setting Up A Third Party Payment Gateway

There are also plenty of payment providers who offer gateways for Shopify. This includes popular online payment solutions like Apple Pay or PayPal. It also includes others that you might not be familiar with.

You might want to choose a third party based on your location, target audience or budget. Or you might have a preference.

Here are the steps to adding a payment gateway to your Shopify store.

Step 1 - Login

Login to your Shopify store using your store credentials.

Step 2 - Payments

Then you need to go to your ‘Settings’ and then to the ‘Payment Providers’ section of your website.

Step 3 - Accept Payments

Now click on the option that reads ‘Payment Providers’. Then you need to select the option that reads ‘Add A Provider’.

Step 4 - Third-Party

When you’re on the ‘Change Provider’ drop-down list, you can select the ‘Third-Party Credit Card Provider’ option. This will bring up a list of potential providers for you that are available in the various territories and counties. Select the one you want.

Step 5 - Complete

Complete any information that is requested by the third party application.

Step 6 - Activate

When complete, click on the ‘Activate’ option.

Monitoring and Managing Finances

Keeping track of your finances is crucial for the success of your Shopify store. The Shopify Finances summary page provides an overview of your sales, payouts, and account balances. This feature can help you monitor your cash flow and make informed decisions about your business.

Additional Payment Options

In addition to traditional payment set ups, you may want to consider setting up tipping options for your customers. This can be a great way to generate additional revenue and show appreciation for your products or services. Changing the labels for tipping online can also encourage customers to leave a tip during the checkout process.

After setting up your gateway, check when Shopify pays you based on your country and provider.

For certain types of products or services, you may need to take deposits on Shopify before fulfilling the order. This can be particularly useful for custom orders, large purchases, or reservation-based businesses. Many payment gateways support this feature, allowing you to collect a portion of the payment upfront and the remaining balance at a later time.