Setting Up Payment Providers
Your Shopify store is set up, your products are ready to be sold, but there's one crucial element you haven’t yet checked off your list: setting up payment providers. This is one of the most significant steps in setting up your e-commerce store as it directly impacts your sales and revenue.
Understanding this process can be daunting for non-technical beginners, solo entrepreneurs, and small business owners. However, it's not as complex as it seems. This guide will make setting up payment providers on Shopify a seamless process for you.
Basic Concepts and Key Terms
A payment gateway is a service that authorizes credit card payments for e-commerce transactions. Shopify Payments is Shopify's integrated payment gateway; alternatively, you can use third-party gateways like PayPal, Stripe, or others.
Step-by-Step Guide
- Step 1: From the Shopify admin dashboard, click on Settings > Payment Providers.
- Step 2: In the Shopify Payments section, click on 'Activate Shopify Payments' or 'Change provider' to choose an available third-party gateway.
- Step 3: Fill in your account details and click 'Complete account set up'.
Tips, Best Practices, and Recommendations
Research the transaction fees for various payment gateways before you make a selection. Moreover, ensure the payment gateway you select is widely used and trusted by customers.
Common Mistakes to Avoid
One common mistake made by Shopify store owners is not setting up alternative payment options. Offering different options can increase your sales by catering to a wider audience.
Conclusion
Setting up payment providers for your Shopify store is a vital aspect of your e-commerce business. Now that you know how to manage this task, it's time to implement.