August 24, 2016
Shopify Launches Shopify Payments, Integrates Payments into E-Commerce Platform
Aug. 12, 2013
Shopify, a provider of turnkey e-commerce solutions, today announced its platform now enables online merchants to accept credit-card payments without requiring a third-party payment provider. Ottawa, Ontario-based Shopify said the integration of a comprehensive e-commerce solution and payment acceptance in a single platform is a first in the e-commerce space.
“Over the last year, the industry at large has been getting better at making it easier [for e-commerce merchants] to get set up with the ability to accept credit cards online,” Louis Kearns, director of payments at Shopify, told CardNotPresent.com. “But, a separate relationship was still required. It wasn’t an all-inclusive experience and ultimately it was a fairly disjointed way of running your business.”
With the launch of Shopify Payments, the company that amassed 60,000 merchant clients by making it easy to set up an online store becomes a PSP that can give merchants instant approval to accept credit cards without requiring a separate gateway or merchant account. Kearns said offering payments in this manner delivers on the promise of simplicity that Shopify seeks to provide every merchant on its platform.
“As Shopify grew, we were trying make commerce simpler and better across the board,” he explained. “Payments is just one of those things our customers expect to be taken care of for them when they create a Shopify account.”
Kearns added that the pricing structure for the new service is also an effort to deliver simplicity. Shopify has several monthly plans for its traditional e-commerce service. At the basic level, which starts at $14 per month, payment acceptance costs 2.9 percent plus $.30 per transaction. Under Shopify’s more comprehensive Professional and Unlimited plans, credit-card acceptance costs 2.5 percent plus $.30 per transaction and 2.25 percent plus $.30 per transaction, respectively. There are no added fees for accepting American Express or international cards or for PCI compliance, Kearns added.