An Essential Guide on Shopify Payments

Today, Shopify offers eCommerce solutions being one of the most widespread platforms in the world, having a reliable payment gateway is crucial for business success. Shopify Payments is Shopify’s native payment gateway, designed to simplify transactions, reduce additional fees, and improve checkout experiences. But is it the right choice for UK merchants?

In this guide, we’ll cover everything you need to know about Shopify Payments from setup requirements to its benefits and fees helping you make an informed decision.

What is Shopify Payments?

Shopify Payments is Shopify’s built-in payment processing system that eliminates the need for third-party payment providers. It allows merchants to accept credit and debit card payments directly through their Shopify store without additional integration. With support for major credit cards like Visa, Mastercard, and American Express, as well as local options such as Klarna and Apple Pay, Shopify Payments caters to a wide range of customer preferences

Key Features:

• Seamless checkout process
• No transaction fees (only standard card processing fees)
• Supports multiple currencies and payment methods
• Chargeback protection and fraud detection
• Quick payouts directly to your bank account

Why Should You Choose Shopify Payments as Your Online Payment Gateway?

Here are some of the key benefits of choosing Shopify Payments as your online payment gateway:

1. No Additional Transaction Fees: Unlike third-party payment gateways, Shopify Payments eliminates extra transaction fees, helping you save on costs.
2. Seamless Integration: Since the Shopify payment system is a native online payment gateway, it integrates seamlessly with your Shopify store. Therefore, no need to manually set up a separate provider.
3. Multiple Payment Methods: In Shopify Payments, you will have the ability to accept multiple payment methods such as credit and debit cards, Apple Pay, and Google Pay. This provide payment flexibility to customers and more likely to complete a purchase.
4. Faster Payouts: Payments are deposited directly into your bank account within 3 business days (faster than many external gateways).
5. Quick & Easy Setup: Without creating a separated account, Shopify payment setup can be done directly from your Shopify admin.
6. Multi-currency Support: Shopify Payments offers multi-currency support, thus boosting conversion rates for international customers.
7. Fraud Protection: Shopify’s built-in fraud analysis helps protect your store from high-risk transactions.

What are the Requirements for Activating Shopify Payments?

The Shopify payment system can be easily activated from your Shopify admin, your business must meet these conditions:

• Your business must be located in one of Shopify’s supported countries.
• Your store must not sell prohibited products (e.g., certain financial services, pharmaceuticals, or gambling-related products).
• A valid UK bank account that accepts GBP payments.
• A registered business entity or sole proprietorship in the UK.

How to Set up Shopify Payments?

Setting up Shopify Payments is a straightforward process. Here’s how to do it:

1. Login to Shopify – Go to Shopify Login and access your admin dashboard.
2. Navigate to Payment Settings – Click on Settings > Payments and select Shopify Payments.
3. Enter Your Business Details – Fill in your bank account details, tax information, and business type.
4. Set Up Payment Methods – Choose which cards and alternative payment methods you want to accept.
5. Enable Fraud Prevention Tools – Shopify offers chargeback protection and fraud analysis to safeguard transactions.
6. Save & Activate – Once your details are verified, Shopify Payments will be enabled for your store.

Shopify Fees UK – What Does It Cost?

One of the most common questions is "What are Shopify fees in the UK?" Here's a breakdown of transaction costs:

Basic Shopify Plan: 2.2% + 20p per transaction

Shopify Plan: 1.9% + 20p per transaction

Advanced Shopify Plan: 1.6% + 20p per transaction

While Shopify fees UK are competitive, opting for Shopify Payments eliminates additional transaction fees that third-party gateways may charge.

How WIRO Can Help?

At WIRO, we’ve worked with some of the UK’s most ambitious eCommerce brands to optimise their payment strategies. Whether it’s reducing cart abandonment, improving checkout speed, or integrating alternative payment methods, we ensure your Shopify store is fully optimised for conversions.

One of our clients, a UK-based lifestyle brand, switched to Shopify Payments and saw a 12% uplift in conversions after removing friction caused by third-party payment redirects.

Conclusion

Shopify Payment is the simplest and all-in-one solution that gives you the ability to take payments both online and in-person. It is definitely a game changer for brands looking for lower transaction fees, faster payouts, and seamless integration. If you’re still using third-party gateways, switching to Shopify Payments could streamline your operations and boost your bottom line.

Need expert guidance on optimising Shopify Payments for your business? WIRO’s team has helped brands like yours unlock higher conversions.

Get in touch with us today!