Shopify today introduced Shopify Payments, a credit card processing system.
The Ottawa company claims that it is the first and only ecommerce platform to offer a payment solution that is fully integrated with an online store. According to Shopify, merchants can now accept and manage Visa, MasterCard, and AMEX payments directly through Shopify—no more going through third-party payment gateways.
The Canadian company says this new solution includes real-time payment tracking and that new stores are automatically set up with Shopify Payments so merchants can start selling immediately.
“Traditional payment acceptance methods for ecommerce merchants are extremely complicated. You have to go through a third-party provider and be approved for a merchant account before you can process payments. And once your store is up and running, your finances are never synced up with your sales and inventory,” explains Louis Kearns, Director of Payments at Shopify. “That’s why Shopify Payments is such a big step for the ecommerce industry. It’s the first and only payment solution that lets you accept credit cards and manage all of your finances directly through your ecommerce platform. This is a game changer.”
Shopify merchants that are on the Starter plan will pay 2.9% + 30 cents per transaction, while those on the Unlimited plan will pay 2.25% + 30 cents.
Shopify’s ecommerce platform powers 60,000 online stores that have processed 35 million orders generating $2 billion in online sales.