how much is shopify transaction fee

Does Shopify Charge You For Every Transaction? does shopify charge you fees on all your,sales and tr

Kerry Egeler

Updated on Jan 19,2023

Does Shopify Charge You For Every Transaction?

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Does Shopify Charge You For Every Transaction?

does shopify charge you fees on all your,sales and transactions let's find out,what's up everybody and welcome back to,the channel and if you're brand new here,want to say hey my name is carrie i'm,the founder of shirt school and on this,channel we bring you the best strategy,secrets and hacks to grow your online,t-shirt apparel e-commerce business if,you're just starting out with shopify or,you're thinking about starting up a,shopify store you might be doing your,research and you see that there are,additional fees on transactions when you,use shopify now i've heard from a lot of,people when they're comparing different,platforms or they're just trying to,figure out where to start their store,that they are under the misconception,that shopify is charging them some kind,of additional transaction fees or maybe,credit card fees on all their sales,today i want to break down how this,works and what the fees are and,hopefully in some confusion for you when,we look at the shopify website you see,that there are three main plans for,using shopify the first one is a basic,plan 29 a month and then you have 79 and,299 now most people are on this 29 a,month plan it's the one that i always,recommend and if we scroll down we see,right here that when it comes to shopify,payments that we go to online credit,card rates and there is a 2.9,fee plus 30 cents per transaction and,then if you're selling in person it goes,down to 2.7,plus no you know zero cents per,transaction,let me explain how this works when,you're starting up an e-commerce,business first you're going to need a,platform like shopify and there are many,other alternatives on the market you,might have heard of woocommerce or,bigcommerce where you could start up,something on wix or godaddy there are a,lot of different e-commerce platforms in,addition to your e-commerce platform,you're going to need a payment processor,this is the company that's going to take,all the credit cards for you and they're,going to process those credit card,payments and then pay you out whatever,you're due now with those payment,processors there is always a fee,associated with that and so the payment,processor has to pay visa and mastercard,and american express and all these you,know credit card companies to,accept their credit cards so there is a,fee associated with that and how those,payment processors make their money is,they charge a fee to the merchant which,would be you the business owner and they,just take a cut of that so if we pay 2.9,percent the payment processor might pay,you know visa one percent and they keep,the difference so with pretty much any,online business you need your main,platform like a shopify and you need a,credit card processor to be able to take,payments hey if you're enjoying this,video and learning something would you,do me a quick favor just hit that like,button it really really helps us out and,it's completely free to you to do also,consider subscribing to the channel we,put out new videos all the time we'd,love for you to become a part of the,family now what shopify has done here is,they have brought the credit card,processing into their platform built in,and that's what shopify payments is,shopify payments allows you to take all,the credit cards built into shopify,without having a third-party credit card,processor it actually makes it a lot,easier and a lot less techie and it's,one less thing you have to worry about,as a business owner so just to be clear,if you were using another platform other,than shopify most of those platforms,will require you to hook up with a,third-party credit card processor and,the most commonly used company is called,stripe stripe is not an e-commerce,platform like shopify or woocommerce or,bigcommerce they are strictly a credit,card processor and they make almost all,their money from processing credit cards,for merchants and for businesses like us,so as you can see on the stripe website,here the fees that stripe charges are,2.9,plus 30 cents,that sounds awfully familiar well that's,exactly the same as what shopify charges,shopify just has the ability built in so,just to be clear shopify is not charging,you any additional fees on your,transactions or any additional credit,card fees that you would not be paying,anywhere else there is no platform you,will find that will be 29 a month and,will charge you zero percent on your,credit card fees that doesn't exist out,there you would have to have another,payment processor like stripe and,they're going to charge you the exact,same amount as shopify so shopify has,just simplified credit card processing,by bringing those fees in-house and,again making it just a lot easier for,you to set up and use if you're just,starting out with shopify or you're,looking to set up your first shopify,account have something really cool i,want to give you we have teamed up with,shopify and they've given us this custom,offer specifically for our audience when,you go to,shopify you can set up a 14-day free,trial to use the shopify platform and,then after you sign up you'll get in,your email a 13-step shopify store build,cheat sheet from us at shirt school so,by using that link below to set up your,shopify account you get the cheat sheet,plus the 14 day free trial and you can,get your shopify store set up and get,some additional help from us so if,you're considering starting with shopify,just go over to shopify,set that up and get that free cheat,you

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