Shopify, a leading global e-commerce platform announced updates on its payment platform during Shopify Unite 2021. As a welcome approach for multiple payment options, it will come up with a new payment platform to allow third-party partners to build their gateways as payment apps for Shopify merchants.
As a result, Shopify merchants integrate third-party payment apps (offered by external payment gateways) to get access to a broader range of payment methods. It will help them sell more by allowing customers to pay using their most preferred payment method.
The new Shopify payments platform will replace its legacy integration points, which also requires Shopify merchants to migrate to the new platform. If you have a Shopify store or are willing to build one, you can now choose Paytm Payment Gateway – India’s leading payment solution with Shopify’s New Payments Platform.
But before you sign up for the right payment gateway for your Shopify store, read this.
Recommended Read: What Makes Paytm Payment Gateway the Best in India?
More about payment apps on Shopify
In terms of the Shopify platform, payment apps are public apps (apps that can be distributed to many merchants) that can be integrated with the Shopify websites to process payments. Only approved partners or payment gateway providers can build payment apps for the new Shopify payments platform, one of which is Paytm Payment Gateway.
Using these payment apps, you can redirect the customers to the app-hosted payment page to accept payments via:
- Digital wallets
- Buy Now Pay Later financing option
- Cards – debit or credit
- Bank transfers
- Cryptocurrency
Shopify Unite 2021 announcement about new payments platform migration
Currently, Shopify supports the Hosted Payment SDK (HPSDK) integration as a link between a merchant’s payment page and Shopify’s checkout. All the HPSDK integrations involve full page redirection on the payment step of Shopify’s checkout to provide a standardized interface for all the third-party/external payment gateways.
As per the new Shopify payments platform announcement, existing HPSDK integrations have been deprecated post July 31, 2022. Hence, the Shopify merchants have migrated their websites to the new platform before this deadline. The integration of Paytm Payment Gateway on the Shopify Payments platform unlocks the new sales growth opportunities for merchants. Shopify’s latest checkout technology and the widespread acceptance of Paytm Payment Gateway, will help merchants in India to grow their business faster.
Need for the new Shopify payments platform
For Shopify, merchants are an integral part of their overall ecosystem. While new payment methods are coming up around the world at a fast rate, the platform wants to support them by evolving its payments platform to respond to the changing dynamics. Currently, this is done with Shopify Checkout integration via Active Merchant and HPSDK.
The new Shopify payments platform aims to replace the legacy integration points and enable the payment partners to create payment apps. The new platform is optimized to work well with the latest checkout technology stack of Shopify.
Now, the payment solution providers (Paytm and others) can offer a rich merchant onboarding experience through app extensions and APIs to their Shopify websites. The new Shopify payments platform will support different payment gateways, which means you can access Paytm Payment Gateway’s advanced payment features like instant activation, 100% online onboarding, 100+ payment sources, and more.
What’s in it for Shopify merchants?
As per the announcements related to the new Shopify payments platform, you need to migrate to a new payment app. Before you migrate, you should also keep an eye on the availability of different payment options to make the right switch.
In case you want to change the payment gateway integrated with your Shopify website, you can do that while migrating to the new payment app.
You May Also Like to Read: Payment Gateway Comparison: Know How to Make the Right Selection
Steps to migrate to Paytm Payment Gateway on the new Shopify payments platform
As a Shopify merchant, you need to follow the steps given below to migrate to the new payments platform:
Step 1: Go to link “https://apps.shopify.com/paytm-payment-gateway“. and click on “Add App”.
Step 2: Click ‘Payments’.
Step 3: Click on Additional Payment Methods and go to ‘Search by Provider’ section.
Step 4: Search for ‘Paytm Payment Gateway’ and then click ‘Activate’.
Step 5: Click ‘Connect’.
Step 6: Click ‘Install’.
Step 7: At this step, you will be redirected to the Paytm for Business dashboard.
Step 8: To continue further, enter your business and bank details, and then click ‘Proceed’.
This will activate your account with the initial limit of up to Rs.50,000 per month.
Step 9: You can then start accepting payments online on your Shopify store using Paytm Payment Gateway. Make sure you upload the required documents to upgrade your account and enable settlements.
Step 10: When you go back to the Shopify panel, the Payments page looks like this:
Click ‘Activate Paytm Payment Gateway’. You will see the successful activation message on the screen.
Why choose Paytm Payment Gateway?
When you want to start accepting payments online through your Shopify website, you want the best payment gateway to support your payment needs. For you and your business, what matters the most is that the payment gateway you select:
- Is easy to integrate and activate
- Supports the widest range of payment sources
- Ensures industry-high success rate
- Is trusted by the leading brands known by the masses
- Is available at the best pricing
- Settles the payment to your bank account timely
- Supports international payments in case you want to scale your business up globally
You get all these aspects covered by choosing Paytm Payment Gateway for your Shopify website.
Also Read: Six Immediate Benefits of Using Paytm Payment Gateway for Your Business
