Top 7 Reasons to Choose Shopify Payment Gateway
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| Top 7 Reasons to Choose Shopify Payment Gateway | SynapseIndia |
The best Shopify payment gateway is
the solution that allows business owners to sell items and services online. If
you want to create an online store, Shopify will provide you with all the
resources you'll need to establish your brand and stand out from the crowd.
However, it remains your responsibility to ensure that you are able to transact
with potential consumers in a secure and timely manner.
Therefore, we will take a look at top
7 reasons to choose Shopify payment gateway. This blog summarizes everything
you need to know about payment gateway requirements, best merchant account for
Shopify, etc., in depth.
What are Shopify Payment Gateways?
Shopify payment gateways refer to
payment solutions that allow your customers to pay for the products they buy
from your Shopify store. These payment gateways allow you to receive payments
from your customers in a comfortable and secure way.
This means that the best Shopify
payment provider starts processing the transaction when your customers initiate
payment for the products, they buy from your Shopify store. It sends the
confidential data of the paying customer to the issuing bank of the card used
for the transaction. At this point, a response is sent to the payment provider
to let them know if the transaction went through or failed.
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| Why eCommerce Business Owner Should Choose Shopify Payment Gateway - infographic |
List of Top 7 Reasons to Choose
Shopify Payment Gateway
Shopify was the first eCommerce
platform to offer its own gateway solution. Not all vendors may be eligible to
use it, but for those that are, there are numerous advantages to using it over
a third-party provider.
1. Fast and Complete
Integration
Shopify
Payments ensures that your customers don't have to leave your website when
making a purchase. Purchases made with a different payment provider redirect
customers to a third-party platform. This can be annoying, time-consuming, and
off-putting for non-tech-savvy customers.
The payment back-office allows you to
keep track of your orders and finances from your control panel. It's a simple
and easy way to check how much you've earned from each order paid through Shopify
Payments.
2. Offline Sales
Shopify Payments is integrated with
Shopify POS (point of sale). All your online and offline sales data is unified.
This allows Shopify Payments to support offline sales, a feature that doesn't
exist on major third-party platforms like PayPal (nofollow).
3. Its Use Reduces Your Rates
If you disable Shopify Payments in
favor of other gateways, Shopify will charge you a fee in addition to any fees
you may be paying that third-party provider. That adds up, so make sure you're
getting some added value from that provider to make it worth your while.
4. You Can Locate Prices for
Foreign Buyers
You can control prices by region
through automatic location-based percentage adjustments or unique specific
prices for each product you upload via csv file. Your customers see prices
relevant to their location for a seamless, personalized experience.
5. Track your Money in Real-time
with a Centralized Dashboard
Everything is in one place for easy
viewing in real time. No need to transfer data, it's ready for you.
6. Fraud Analysis
Shopify Payments' advanced fraud
analysis capabilities allow you to identify fraudulent orders. Shopify Payments
has two different filters to detect fraud.
7. Fee Reduction
If you disable Shopify Payments in favor
of other gateways, Shopify will charge you a fee in addition to any fees you
may be paying that third-party provider. That adds up, so make sure you're
getting some added value from that provider to make it worth your while.
What to Consider Before Choosing Best
Shopify Payment Provider?
Here, in this section, we will
discuss the common things to consider before choosing Shopify payment gateway:
1. Accepted Card Payment
Learn about the many types of cards
that your payment gateway has selected for Shopify. Ideally, choose the best
Shopify payment gateway that is compatible with most credit and debit card
providers. VISA, MasterCard, and American Express are standard credit cards to
look for.
2. Geographic Location of the Target
Market
When selecting a Shopify payment
gateway, the first consideration you need to consider is its location. Also,
Shopify-specific payment methods are only available in certain geographic
regions. PayPal is a fantastic example.
This means that when selecting a
Shopify payment option for your store, you need to consider the geographic
region of your target market. In other words, choose a payment gateway that is
known in the country or region where your products will be sold.
3. Availability of Fraud Detection
Features
The best Shopify payment gateway
should include a built-in risk and fraud detection mechanism to help you avoid
payment fraud. This criterion adds protection to your store and improves the
quality of transactions, resulting in higher approval rates.
Therefore, with the prevalence of
fraud schemes on the rise, you should select a payment gateway for Shopify that
is secure and risk-free. With its fraud detection features, the payment method
you choose should improve the quality of your customers' transactions while
preventing payment fraud.
4. Worldwide Availability
An advantage of using Shopify is that
you will have access to a worldwide audience regardless of your location. Therefore,
when selecting a Shopify payment method, keep in mind the likely growth of your
business, as well as the area of your projected target audience as your
organization grows.
This factor allows you to select a
convenient payment option for your current audience and is accepted in all
countries where you intend to expand.
Also, if you intend to develop your
Shopify store abroad, this is crucial. Therefore, you need to decide whether or
not the Shopify payment gateway you use is acceptable in the countries you
intend to expand into.
As a result, check out internet
reviews to see if the payment gateway company has a solid reputation. Also,
talking to people who are already using those solutions can be valuable to get
accurate feedback.
Let’s Understand How to set up
Shopify payments
If you already have a Shopify
account, setting up Shopify Payments is quick and easy. That is how:
·
In your Shopify admin, navigate to Settings >>
Payments.
·
Turn on Shopify Payments. If you don't already have a payment
provider set up, you'll find this option under Complete Account Setup.
·
Enter your business and tax information. This will usually be
your company name and address, the tax identification number for your country,
and your bank account information.
You will need to wait for Shopify to
review and verify all of your information before you can start accepting
payments. If they don't need any additional information, you will usually get
approval in about three days.
Talk to Our Shopify Experts for
Shopify Payment Integration
Final Thoughts
As per our Shopify professionals at SynapseIndia,
choosing the best Shopify payment gateways is one of the most important
decisions you'll make for your online store. While you need to find a Shopify
payment gateway that meets the needs of your target customers, you can't ignore
the price factor, which should fit your budget.
So, to give you an overview of the reasons to
choose Shopify payment gateway, the article has tried to cover the details. If
you are still looking any type of assistance, you should contact us immediately. We would like to assist you.
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