Picking a suitable payment gateway and platform for your online store is a significant decision. While an e-commerce platform will provide an interface for your customers to interact with your brand, the payment gateway enables online payment processing.
Amidst the growing popularity of the e-commerce sector in India, Shopify has come up as an ideal solution for businesses making the leap towards online selling.
Shopify is one of the leading commerce platforms that enable businesses of all sizes to set up an online store. As per e-commerce technology usage distribution, Shopify has a market share of 20%.
Physical products, digital products, services, classes, or memberships, you can sell them all via a Shopify website. But like many other individuals, you might also have several questions in mind about the Shopify payment gateway, including:
- Which payment gateway does Shopify use?
- How does Shopify payment gateway work?
- Can I integrate the payment gateway of my choice into a Shopify store?
- What is Shopify payment gateway?
- Is Shopify payment gateway free?
Here, we will clear all your doubts to help you select the most suitable Shopify payment gateway in India.
Getting started with Shopify payment gateway in India
The right selection of a payment gateway does have an impact on the customer experience. If you have selected Shopify as your e-commerce platform, you can either use Shopify Payments or integrate any of the third-party payment gateways it supports. In other words, it gives you the freedom to select a suitable payment gateway of your choice and start selling online within minutes.
The best part – you can integrate Paytm Payment Gateway on your Shopify store. For the complete list of supported Shopify payment gateways, click here.
To integrate your preferred payment gateway on a Shopify website, you need to integrate payment plugins built by the respective payment gateway service provider using Shopify API.
Supported payment sources on Shopify in India
You can start accepting online payments through the following payment sources in India on your Shopify store:
- Credit cards
- Debit cards
- Net banking
- Digital wallets
- Bank transfer
- Cash on delivery
Shopify India also supports EMI and Buy Now Pay Later payment options. Having these options available to your customers can help boost high-ticket purchases on your online store.
The range of payment methods supported by Shopify further depends on the integrated payment gateway.
Payment settlement period for Shopify payment gateways
The settlement period refers to the time taken by the involved payment gateways to transfer the transaction amount into the merchant’s account. It usually varies from one payment gateway to another. However, the right selection of a Shopify payment gateway can provide you with the option of same-day settlements.
A longer settlement period simply means locking of revenue, which may lead to lower liquidity of funds. Hence, it is advisable to consider settlement duration while selecting a payment gateway.
Recommended Read: A Merchant’s Guide to Payment Gateway Settlements
Maintaining transaction success rate on your Shopify website
Payment failures are no less than nightmares for both online consumers and businesses. Not only do they cause obstructions to a particular transaction but also affect the overall brand perception of the buyers.
Many times, payment failures occur because of the technical issues that may arise with the integrated payment gateway. To curb this, advanced Shopify payment gateways, like Paytm Payment Gateway, works with dynamic routing. It detects the best-performing route to ensure a high payment success rate using its smart algorithms.
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How to integrate payment gateway on a Shopify store
The general steps to integrate a third-party payment gateway to your Shopify store are as follows:
- Go to – Settings, and then Select Payment Providers
- Click – Add a Provider
- Select a third-party payment gateway from the given drop-down list.
- Fill the online form that appears next with relevant information
- Click – Activate
Alternatively, you can ask a payment gateway provider about the steps to be followed for Shopify payment gateway integration.
Shopify payment gateway pricing
Payment gateway fee is yet another important factor you must consider while selecting a Shopify payment gateway. Different payment gateway providers ask for different charges to enable payment support to your business website. As a business owner, you should know about different components of payment gateway charges, which may include:
- Payment gateway setup charges
- Annual maintenance cost
- Integration charges
- Merchant Discount Rate
Do keep in mind that when you integrate a third-party payment gateway on your Shopify website, you need to pay Shopify platform charges along with payment gateway charges.
You May Also Like to Read: A Complete Guide to Payment Gateway Charges in India
Empower your Shopify Stores with Paytm Payment Gateway
Paytm Payment Gateway is one of the official payment partners of Shopify India. With our advanced payment gateway, you can start accepting payments through your Shopify website.
Integration of your business website with Paytm Payment Gateway allows you to provide a top-notch payment experience to your customers. You will also benefit from:
- 0% MDR on UPI transactions
- Quick and easy integration with robust APIs and plugins
- Wide range of payment sources supported – including Paytm Wallet and Paytm Postpaid
- Industry-high success rate backed by intelligent routing and direct bank integrations
- 330 million+ Paytm Wallet users and 250 million+ saved cards
- T+1 settlements with no holiday delays
- International payments support for 200+ countries
You May Also Like to Read: What Makes Paytm Payment Gateway The Best in India?
Shopify payment gateway integration – How to integrate Paytm Payment Gateway
The integration of Paytm Payment Gateway with your Shopify website will enable you to start accepting payments online via several payment sources. Before you begin the Shopify payment gateway integration process, you must have a registered business account.
Given below are the steps to integrate your Shopify store with Paytm Payment Gateway:
- Log into your Shopify account and click Settings
- Select Payments which will present various payment options available
- Proceed with selecting Alternate payment methods
- Select or type Paytm
- Fill the required credentials like MID, Merchant Key, Industry Type, and Website, in the Account Information form
- Select the payment sources that you want the payment gateway to support
- Select Enable Test Mode to test the payment setup, and then click Activate Paytm
For more details about Shopify payment gateway integration, click here.