I always recommend to my clients that they use Shopify Payments because it's easy and it's cheap.
Fees when using Shopify Payments (please note: these are NZ fees);
| Basic Package (USD29/month) | Standard Package (USD79/month) | Advanced Package (USD299/month) | |
| NZ card fees | 2.7% + 30c | 2.5% + 30c | 2.4% + 30c |
| Intl/AMEX fees | 3.5% + 30c | 3.4% + 30c | 3.3% + 30c |
| Other gateway fees | 2.0% | 1.0% | 0.5% |
Shopify payments take a few days to settle into your account, they come into your bank as a net amount (the days sales less the fees). It's important to consider the fees of the alternative gateway as well as the Shopify fees.
For example: Merchant fees for PayPal are 3.4% + 45c, so for a $100 sale, PayPal will charge $3.85 and Shopify will charge $2, so that's $5.85 of fees on the $100 transaction. If that $100 transaction is through Shopify Payments, the fee will be $3. So that is something to consider when choosing other payment gateways.
LayBuy, AfterPay and PartPay (now ZipPay) like your site to be live before they will give you a quote for fees. When I launched FaceStuff Co last year I was quoted 7% by LayBuy, 6% + 30c by AfterPay and 4.5% by PartPay.
Activating Shopify Payments
Go to Settings > Payment providers and click Activate Shopify Payments
You will need to enter your business details as requested and then click Complete account setup.
Activating PayPal Express Checkout
Go to Settings > Payment providers and click Activate PayPal Express Checkout
You will need to add all of your PayPal account information. If you haven't already set up a business account for PayPal you will need to do this before you activate PayPal.
Activating Other Payment Gateways
Go to Settings > Payment providers and under Alternative payment methods click on Choose alternative payment.
Under here you will find AfterPay and LayBuy, but you will need to follow the instructions from PartPay/ZipPay to see this as an option in the list.
You will need to enter your Merchant ID and Secret Key for AfterPay and you will need to enter your Merchant ID and API Key for LayBuy.
You will also be given a snippet of code from LayBuy and AfterPay that you will need to paste into your theme, if you don't feel confident doing this, a representative from these providers can request a login to your Shopify store and add this for you.
If you need help deciding what payment gateways are best for your business or you think your Shopify site could be doing a better job of converting customers, please get in touch and I can help you out.