Hi, Paul,. the Transaction Fee Percentage Bump is On Top of what they charge for various plans (2.9%+30 cents for the Basic, 2.6% +30 cents Standard, and 2.4%+30 cents for the Advanced)., which has plenty of room to Pay Visa/MS Dues & Assessments and Interchange, leaving Revenue for Shopify. The % Bump is a discouragement for the Merchant to use their own processor. The .5% to 2% Bump is literally pure profit.
Hi Charles, the transaction fee is only charged when the merchant uses a third party payment gateway such as PayPal. It isn't charged on top of the fees that you mentioned, which are the fees for using Shopify Payments.
Ok but Shopify do clearly state on their website: _"Use Shopify Payments and pay no transaction fee. If you choose an external payment gateway, there will be additional fees of 2%, 1% or 0.5% for our Basic Shopify, Shopify, and Advanced Shopify plans, respectively."_
@@EcommerceGold On their Website they also call the Real Charges "PROCESSING FEE" (This is Not The Transaction Fee. It's Fair, but they are making money from it.
I wasn't disputing that they make money from their additional fees and I do agree that it is to encourage the use of Shopify Payments rather than third party gateways. Could you link to this page with the processing fee as I can't find it on their site?
Hello Paul! Love your Channel! Quick question...Im SO confused about these many dif stores. I just have ONE physical product that I want to sell. Which platform would be best for my buck? NOBODY EVER talks about the Ultra Small Companies should do!
Hi Chris, glad you are enjoying my channel. Yes, choosing which platform to choose is a very daunting process. A lot of it comes down to the features that you need, not just the amount of products that you are selling but in terms of bang for buck, Ecwid's free plan is hard to beat and I have done a video on this (ua-cam.com/video/B_3emP0LGwQ/v-deo.html). If you want to create landing pages for your product or have blog posts around it, I would look at using WordPress then adding Eciwd or Shopify lite to take care of your checkout process.
Is there a video which gives an overview of what Shopify does? Its business model ? I see lots of "How to do .......... in Shopify" videos - but no general explanation of the architecture of the business: how would I send stock into my shop? how will anybody find my shop? In the Order-to-Cash process what does Shopify do and what does it not do ? ......
I haven't seen one covering what you are asking but I can answer those questions: 1: Shopify's business model is SAAS (software as a service) specifically for ecommerce, it provides hosting, an ecommerce website builder and support for a set monthly price 2: Shopify offers a fulfilment service but most Shopify users either dropship or manage their stock themselves. 3: People will find it when you market your shop, the same as any other website I don't understand your last question.
@@EcommerceGold Thanks for the reply. OK - so it's like Amazon with FBA and FBM sales, but instead of advertising on Amazon's/Shopify's site, Shopify generates a seller's web site ? On the fullfulment side, does Shopify provide its own, or integrate with a 3rd party, print on demand service? Or is it just a fullfilment from stock? My third query was more about understanding if there any gaps in the service provided by Shopify which I would need to look out for. (eg. creating/setting up a domain, etc.)
Shopify allows users to build their own ecommerce website using the Shopify software, I wouldn't compare it to any of Amazons services. Shopify offers its own fulfilment services but this isn't open to every merchant, they do offer integrations with third party fulfilment services, it can also be linked to dropshipping and print on demand services. Shopify is a pretty complete platform but like all platforms, its not perfect. I would recommend trying it out for yourself to see if it works for you or not.
Hi Kevin, unfortunately, it isn't a straight forward answer as it is with some other comparisons as both a very good options and for me it would very much come down to the individual project and if it requires any specific features but as a general summary, for a B2C ecommerce site, I would lean towards Shopify as it offers a lot in terms of social media integration and more theme customisation options. For a B2B site, I would lean more towards ShopWired as it is very good on that side of things.
@@EcommerceGold Thanks paul I have started building a shopwired site selling steel brackets to b2c mostly i liked the platform i looked at ekm and shopify but felt this would be a good fit as u said u had ran a shopwired site yourself I hope I have made the right choice and can grow a large business using them. Thanks for your review and advice mate.I really dont need any special feature s Regards Kevin
Cheers Kevin. ShopWired are a very good platform that is improving all the time and they are definitely a platform that you can scale a business with, plus the UK based support can be beneficial for UK businesses. I wish you nothing but success with your site.
Want to try Shopify for yourself? Then click my link → www.ecommerce-gold.com/shopify to take out a free trial and thank you if you do.
Hi, Paul,. the Transaction Fee Percentage Bump is On Top of what they charge for various plans (2.9%+30 cents for the Basic, 2.6% +30 cents Standard, and 2.4%+30 cents for the Advanced)., which has plenty of room to Pay Visa/MS Dues & Assessments and Interchange, leaving Revenue for Shopify. The % Bump is a discouragement for the Merchant to use their own processor. The .5% to 2% Bump is literally pure profit.
Hi Charles, the transaction fee is only charged when the merchant uses a third party payment gateway such as PayPal. It isn't charged on top of the fees that you mentioned, which are the fees for using Shopify Payments.
@@EcommerceGold As an ETA Certified Payments Professional, I Know Their Rate With and Without an Outside Processor
Ok but Shopify do clearly state on their website:
_"Use Shopify Payments and pay no transaction fee. If you choose an external payment gateway, there will be additional fees of 2%, 1% or 0.5% for our Basic Shopify, Shopify, and Advanced Shopify plans, respectively."_
@@EcommerceGold On their Website they also call the Real Charges "PROCESSING FEE" (This is Not The Transaction Fee. It's Fair, but they are making money from it.
I wasn't disputing that they make money from their additional fees and I do agree that it is to encourage the use of Shopify Payments rather than third party gateways.
Could you link to this page with the processing fee as I can't find it on their site?
Hello Paul! Love your Channel! Quick question...Im SO confused about these many dif stores. I just have ONE physical product that I want to sell. Which platform would be best for my buck? NOBODY EVER talks about the Ultra Small Companies should do!
Hi Chris, glad you are enjoying my channel. Yes, choosing which platform to choose is a very daunting process. A lot of it comes down to the features that you need, not just the amount of products that you are selling but in terms of bang for buck, Ecwid's free plan is hard to beat and I have done a video on this (ua-cam.com/video/B_3emP0LGwQ/v-deo.html).
If you want to create landing pages for your product or have blog posts around it, I would look at using WordPress then adding Eciwd or Shopify lite to take care of your checkout process.
I’m just starting to think about making a business, Shopify doesn’t produce anything for users right? If I need my product produced where do I start?
No, Shopify is a website builder. If you need it produced then you need to find a manufacturer.
Is there a video which gives an overview of what Shopify does? Its business model ? I see lots of "How to do .......... in Shopify" videos - but no general explanation of the architecture of the business: how would I send stock into my shop? how will anybody find my shop? In the Order-to-Cash process what does Shopify do and what does it not do ? ......
I haven't seen one covering what you are asking but I can answer those questions:
1: Shopify's business model is SAAS (software as a service) specifically for ecommerce, it provides hosting, an ecommerce website builder and support for a set monthly price
2: Shopify offers a fulfilment service but most Shopify users either dropship or manage their stock themselves.
3: People will find it when you market your shop, the same as any other website
I don't understand your last question.
@@EcommerceGold Thanks for the reply.
OK - so it's like Amazon with FBA and FBM sales, but instead of advertising on Amazon's/Shopify's site, Shopify generates a seller's web site ?
On the fullfulment side, does Shopify provide its own, or integrate with a 3rd party, print on demand service? Or is it just a fullfilment from stock?
My third query was more about understanding if there any gaps in the service provided by Shopify which I would need to look out for. (eg. creating/setting up a domain, etc.)
Shopify allows users to build their own ecommerce website using the Shopify software, I wouldn't compare it to any of Amazons services.
Shopify offers its own fulfilment services but this isn't open to every merchant, they do offer integrations with third party fulfilment services, it can also be linked to dropshipping and print on demand services.
Shopify is a pretty complete platform but like all platforms, its not perfect. I would recommend trying it out for yourself to see if it works for you or not.
Hi Paul would you pick shopify or shopwired for a U.K. Ecommerce site as you have used both.
Hi Kevin, unfortunately, it isn't a straight forward answer as it is with some other comparisons as both a very good options and for me it would very much come down to the individual project and if it requires any specific features but as a general summary, for a B2C ecommerce site, I would lean towards Shopify as it offers a lot in terms of social media integration and more theme customisation options. For a B2B site, I would lean more towards ShopWired as it is very good on that side of things.
@@EcommerceGold Thanks paul I have started building a shopwired site selling steel brackets to b2c mostly i liked the platform i looked at ekm and shopify but felt this would be a good fit as u said u had ran a shopwired site yourself I hope I have made the right choice and can grow a large business using them. Thanks for your review and advice mate.I really dont need any special feature s
Regards Kevin
Cheers Kevin. ShopWired are a very good platform that is improving all the time and they are definitely a platform that you can scale a business with, plus the UK based support can be beneficial for UK businesses. I wish you nothing but success with your site.