Does Shopify Charge You For Every Transaction?
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- Опубліковано 16 чер 2024
- Does Shopify charge you extra fees on all your transactions? In this video, I break down the credit card fees and all additional charges you might see in Shopify.
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0:00 Intro
0:20 Does Shopify Charge Extra Fees?
0:54 Shopify Pricing
1:26 How Credit Card Fees Work
2:33 Do This!
2:47 How Shopify Works
3:12 How Other Platforms Work
3:26 Stripe Fees
3:56 Summary
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Thank you so much Kerry. Just started my own store and still adding more products.
Thank you so much for your advice!! SOO helpful.
You're so welcome!
Great video👍🏼
Glad you enjoyed it!
Where in Shopify can you fee the actual interchange fees. Shopify flat rate encompasses the interchange fee from visa, mastercard, etc. PLUS a markup from Shopify. Shopify makes it almost impossible to use a different processor because Shopify essentially charges you a penalty fee for using a 3rd party processor, this penalty depends on what plan you have.
This article may help: help.shopify.com/en/manual/markets/pricing/fees
great video, ive used 4 days finding the answer to this
There is a contradiction with what you said and the Shopify Payments you showed. Right there in Black & White, it states: Transaction fees if not using Shopify Payments is 2%.
Thanks for the clarification
You’re very welcome!
what does the "Transaction fee if not using shopify payments" mean? Does it mean that when someone pays with Paypal shopify still takes 2% of the order amount?
So is credit card fee interest?
does it have anything do with it
hello, thankyou for this video, i have a question, if i have a third party card payment provider which is linked to my shopify shop, they charge me 2.5% on each transaction. does it mean that i will be charged 3.5% ? since shopify will take 1% as mentioned in the shopify plan?
I believe if you are using a third party payment provider, you will be subject to your payment provider’s fees on top of Shopify’s fees.
Bigcommerce only charges you the monthly subscription and you pay the cc transaction fee to stripe or square only... so yes, there IS another company that wont double your fees like shopify does.
Im still left with a question - do they also charge 2% for " offline" payments like cash or Apps like CashApp?
This was the whole point of the video that I think you missed. Shopify has stripe like payments built in, and the fee is identical. No additional fees.
Yes they do. We have Afterpay (3rd party payment) and Shopify now charge us 2% even though the payment is processed completely sepately, Afterpay then charge their 2.9%. Very angry and looking at leaving Shopify.
@@shaunewing9468 this is a change as of June 16th, and is only for third party payment processors. Not for Shopify payments.
I just made an order from my shop, it was 8.50 and shopify shows that I will be paid out 6.48...I don't understand
Fees are 2.9% + $.30 per transaction. That math does not add up
Why does shopify offer me to upgrade to $29?
In short
Shopify + 3rd party payment gateway
29 $ + 2% Shopify transaction fees + 2 % 3rd party payment gateway.
RIP 💰💰
No. You will never pay Shopify transaction fees on top of 3rd party payment gateway fees
@@KerryEgeleri have already confirmed with their support, it doesn't make sense but they do charge for every paid sales at 3rd party payment gateway.
@@KerryEgeler Yes they do. I got charged it today, I asked support and they confirmedthey charge 2% on all 3rd party payments. Absolute rip offfs.
Exactly, this is what they doing. First we pay out third party gateway then shopify take 2% on every online transaction...
Any way to get rid of this? I was only paying 2% to razorpay on each transaction when I was on woocomerce. Buy now shopify taking 2% on top of it... This will just simple make my billing 5 times more... As per the Sales I generate each month. It will be 29$ plus 120$ dollers for the total orders of that month which are placed with third party payment...
Shopify charges $2k if your volume is high
Never heard of this, have put tons of sales through shopify
Should I increase the retail price of my products, to account for the 2.9% + .30 that will be charged for each transaction, in order to maintain my desired profit margin? I know that sounds like a rookie question but it would be really helpful if someone could clarify that for me.
Yes! You need to include this as part of your costs because it will lower your net margin (what you take home after everything)
wow. 14 days free trial.... Isnt that the usual shopisy offer?
Yes! Just a great way to support the channel and the free content we put out
@@KerryEgeler I understand that creating the content cost time and money and I appreciate your hard work. The way you say "teamed with Shopify and they gave us this custom offer specifically for our audience..." seems a little misleading. The actual special offer is your cheet sheet, notthe 14 days trial.