Shopify Payment is a globally recognized eCommerce platform. This Shopify version is optimized for large-scale businesses. The platform’s services enable business owners to create, manage, grow, and market their online commerce. If we focus only on Shopify payments, it now hosts over 7000 businesses and processes roughly 10,978 checkouts every minute.
65,000+ orders will have been made via Shopify by the time you go through this article.
1. Shopify payments and Shopify Core are identical applications.
Merchants often mistakenly believe that other versions of Shopify and Shopify payments are the same, but they are not. Shopify payments are purpose-built to global power companies, while the other Shopify editions are targeted at small and medium-sized businesses. When you pay for Plus, it’s self-evident that you’ll get premium services. Here are a few additional benefits offered with Shopify payments that are not included with other basic plans:
- Shopify payments have powerful APIs and webhooks, which make integrations easier. Complex integration is inextricably linked to the infrastructure required to sustain big companies.
- Front-end design that is cutting-edge and focuses on excellent customer experience (CX): The Shopify payments platform is designed to let you quickly and affordably create an eCommerce website focused on customer experience. Shopify payments merchants may spend previously budgeted funds for front-end development in robust back-end technology and strategic integration.
- It is evident that Shopify payments draw the finest in the business. Shopify merchants can be confident that every Plus Partner they choose has been thoroughly vetted and authorized following Shopify payments’ rigorous requirements.
2. Shopify payments is an extortionately priced e-commerce platform.
Merchants often delay making the switch to Shopify payments due to concerns about the pricing.
For enterprise-level companies, Shopify payments pay for themselves and are much less expensive in the long term, lowering the total cost of ownership. Plus may seem to be a costly option, but we must remember that the payment is a one-time purchase with no hidden fees.
For example, Shopify payments come pre-configured with PCI-DSS compliance, saving businesses thousands of dollars each year on store security. Additionally, the platform has built-in features such as Shopify Flow and Launchpad that assist businesses in automating operational processes, thus saving time, labor, and money. When license and development costs are included, the cost of using another platform rises elsewhere.
3. Shopify payments prevent you from making the changes you want.
Shopify payments, being a managed platform, is seen as a limited customization option. Merchants see it as an inflexible and customization-restricted platform, which is incorrect in many respects.
4. It is not feasible to integrate sophisticated backend systems
People are hesitant to use Shopify as their eCommerce platform owing to a widespread misconception that Shopify cannot integrate the oh-so-critical, complicated backend support. To state the obvious, it is FALSE. Shopify payments have a somewhat different approach to integrating than other platforms, but that does not mean it cannot be done. Additionally, you can connect a variety of software suites or applications into the backend to simplify your shop administration.
- Using Shopify’s RESTful API, you can connect technologies like CRM, ERP, 3PL, and many others into the store’s backend and seamlessly manage the business.
- You may create custom code and use it to modify product information using the same API. Alternatively, you may utilize GraphQL to provide more customization and aesthetics.
- Shopify’s native integration feature enables you to showcase your goods across over 20 different sales channels. Utilize point-of-sale systems to help omnichannel sales, create conversational commerce platforms through chat interfaces, and profit from social media and mobile apps.
- With Shopify payments, you have extensive meta-field capabilities. You may use the ShopifyFD tool, which enables specific modifications like affiliate links and hover functionalities.
There are many methods to connect with your store’s backend system and expand its capabilities.
5. Shopify payments do not provide the multi-currency capability.
Numerous prominent companies have a presence in multiple countries. A pain point may be the lack of multi-currency capability and simplicity of use for many of them. When we claim Shopify payment is a version intended explicitly for enterprise-level solutions, it cannot afford to overlook such an important aspect, and it hasn’t! Shopify includes native multi-currency conversion at market rates. Additionally, it has a native multi-currency settlement feature dubbed ‘Settle and Collect’.
Finally, suppose you’re seeking a robust solution to back up your eCommerce company or have hit the ceiling with your existing platform and are considering a migration. In that case, Shopify payment is an excellent option. All prevalent Shopify payment myths are debunked here.