How to Set up Multiple Payment Methods on your Shopify Store?

In 2022, the Shopify marketplace turned out to be a competitive place. And in the future, it’s not going to slow down.  That’s what made multiple payment gateways an effective tool. With the various payment methods, users can deal with every purchase. That boosts sales effectively.

Over Shopify stores, there is a default Shopify Payment Gateway which access owners accept their credit cards along with basic purchases.  You can hire a Shopify agency to know more about these in detail.

 Store owners could include third-party providers. For instance, PayPal is one of the payment methods for if online retailers. Also, Stripe helps merchants optimize the payment process. Confused? Don’t be. Here in the article, we have discussed everything about multiple gateways and how to set them to look at it. 

What different payment methods are accessible for Shopify?

The major payment method accessible for Shopify retailers is Shopify Payments. You could check if Shopify Payments is accessible in the location. Even though Shopify partnered with Stripe, it’s known to be a third-party payment processor. They rebranded it before merging it in the stores. You can also find credit card processing fees included for the Shopify Payments.

Other than having their method, Shopify accesses people to integrate third-party payment apps like PayPal. You should pay both transaction fees and credit card processing fees for the third-party apps. You could also link buy-now-pay-later methods as AfterPay. 

If you are patient enough then you might find hundreds of payment methods for the Shopify stores. So, what do you choose purely based upon your target market & and what is best for the business model? Try to do market research and then find what payment methods are best for the customers.

Why do you need multiple payment gateways for the Shopify business?

The automated Shopify Payments isn’t accessible in specific regions & countries. Online retailers need to defer payments with the Shopify Multiple Payment Gateways. There are a few types of services and businesses which aren’t acceptable to utilize Shopify Payments. So, it is advised to switch the payment gateways.

By including Shopify Multiple Payment Gateways, people now get many benefits. They could increase consumers’ shopping experiences via payment process support. Through the checkout process, store owners could offer many ways to reach consumers’ needs. And more techniques solve difficulties in purchasing. Not only does it boost conversion rate but it makes it simple for retailers to back up the data if the default gateway is overfilled. 

How to set up Netbanking or credit card or Debit Card or UPI and any third-party providers? 

As Shopify Pay has restrictions in a few countries, the sellers need to launch payment gateways through third-party providers for making the purchase profitable. As these methods are handled through a third party,  shop owners should spend transaction fees for these.  Shoppers are supported with more than 100 credit cards.

Also, sellers can pick two unique choices in the credit card payment services. If the owners pick the direct providers, consumers could finish the purchases over the website without any checkout.  The second choice is the external services that direct consumer purchases to another checkout page. Owners can personalize the payment providers on Payment services in the Shopify admin. Each payment gateway service supports most payment choices such as net banking, credit card, debit card, and UPI.

Here is the process to follow:

• Explore Settings and go to Payments.
• Then visit Third Party Providers.
• Now select the Third Party Provider option
• Select the providers you like to integrate and click Activate.

How to Set up buy now & pay later?

Do you get products with high amounts, then you need to offer users a buy now & pay later options. This lets users pay in the installment process. Indian purchasers do not simply use Sezzle. You need to build an alternative payment gateway. Here’s how to do it. 

• Explore Settings and click Payments.
• Now Choose alternative payment through the Alternate Payments section.
• Click Sexxle from the given options
• Now enter the account credentials of Sezzle and select Activate. 

How to Setup Alternative payments? 

Now Shopify owners can activate alternative payment methods which access every customer’s finished orders utilizing more than the credit card. Cryptocurrency is the best option that sellers pick to spend on transactions without seeming to be banks. If consumers are likely to pay through alternative payment strategies, then transaction fees could be charged for the Shopify store.

Here’s how to set up the alternative payments over Shopify:

•  Click Payment providers
• Firstly, on the Shopify admin, shop owners choose Settings and click Payment providers.
•  Navigate to the Alternative Payments section and Choose the alternative payment.
• Now select the payment provider you like from the list of providers.
• Right after selecting the type, store owners could continue by adding the account credentials.
• Now, complete the process by clicking  Activate.

How to set up the Manual payments gateway

Most customers are more likely to pay for orders with a payment method than with a credit card. So,  retailers should set up manual payments. If shoppers pay by the manual payment gateway, then merchants can choose payments outside of the online checkout page. If people finish payment, then sellers could get the payment. Then orders are approved manually without effort.

Manual payments involve cash on delivery and other bank transfers, manandemoneyders. Orders that are paid manually might be in an unpaid status. That changes to Paid after they get payment from consumers. 

• Go to Shopify admin and select  Settings then open  Payment Provider.
• Upon the Payment providers category, explore manual payment methods.
• Now, show elements regarding more payments while customers check out. Then the shop owners should select a payment method.
• On the Payment instructions,  enter instructions that you like consumers to follow for paying an order.
• These teachings are displayed over the order confirmation page right after a consumer is finished with the order.
• Choose Activate to complete the setup.

Do you have any assistance or queries in setting up the payment gateways for the Shopify store,  contact a  Shopify Plus agency now.

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