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Card processing review

Shopify Payments

Shopify's built-in processing for Shopify POS and its online store: from 2.6% + 10¢ in person and 2.9% + 30¢ online on the Basic plan ($39 a month), with lower rates on pricier plans, month to month. Deposits take 3 to 5 business days. Shopify POS is built for retail, not restaurants.

By ShopifyParent company: Shopify Inc. (NASDAQ: SHOP)

RTC SCORE

4.5

#14 of 16 with enough data

Our verdict

Published, plan-based flat rates for a business that sells online and in person with Shopify. Shopify POS isn't built for restaurants, you pay a monthly plan on top of the card rates, and deposits take 3 to 5 business days.

What we like

  • Month to month, with 30 days' notice before fee changes.
  • One system for in-person and online sales, with no PCI, statement or setup fees.

What to watch

  • You pay a Shopify plan on top of the card rates ($39 a month on Basic).
  • Shopify POS is built for retail: the industries Shopify lists for it don't include restaurants.
  • Its card readers only work with Shopify Payments, and POS Pro is billed yearly for 12 months.
  • Deposits take 3 to 5 business days.
  • American Express and business cards pay a higher rate online, and there's no dual pricing or surcharge program.

How the score breaks down

RTC Score4.5out of 10

Methodology v0.1.0

Data completeness100%

We could verify 100% of the scoring data

Strongest points
What leaving in month 12 costs, Published pricing, 24/7 support
Weakest point
12-month cost of the reference restaurant

Score by criterion

  • 12-month cost of the reference restaurantWeight 37%Weakest0.8 out of 10

    $11,186 over 12 months

  • Standard deposit speedWeight 11%2.0 out of 10
  • What leaving in month 12 costsWeight 9%Strongest10.0 out of 10

    $0 to leave in month 12

  • Price increases during the contractWeight 8%7.0 out of 10
  • Published pricingWeight 7%Strongest10.0 out of 10
  • 24/7 supportWeight 6%Strongest10.0 out of 10
  • Contract termWeight 4%10.0 out of 10
  • Support channelsWeight 4%3.0 out of 10
  • No equipment lease you can't cancelWeight 3%10.0 out of 10
  • Works with restaurant POS systemsWeight 3%0.0 out of 10
  • Automatic renewalWeight 2%10.0 out of 10
  • Equipment works with another processorWeight 2%0.0 out of 10
  • Offers dual pricing or a surcharge programWeight 2%0.0 out of 10
  • Works without the vendor's own POSWeight 1%0.0 out of 10

All the data, with sources

Each value links to its source. "Not published" means the vendor doesn't disclose it; "Unconfirmed" means we looked and couldn't confirm it. Data points we have for fewer than four vendors are left out until we can compare them.

Type of processor and pricing
Data pointValue
Type of processorFlat-rate payment company (payment facilitator)Source: Shopify (opens in a new tab)Shopify's built-in processor for its POS and online store; you need a Shopify plan to use it.
Pricing modelFlat rateSource: Shopify (opens in a new tab)Flat rates that go down with a more expensive Shopify plan.
Published pricing (points out of 100)100Source: Shopify (opens in a new tab)Same rubric for every vendor: in-person rate published 25; online and keyed rates 15; monthly plan fee 20; early termination fee ($0: its terms have no term and no closure fee) 20; other fees 20 (chargeback fee and no-hidden-fees statement published). The separate Shopify Payments terms are only shown inside the Shopify admin.
Card rates
Data pointValue
In-person rate2.6%Source: Shopify (opens in a new tab)Basic plan; 2.5% on Grow and 2.4% on Advanced. Columns on the pricing page: Basic, Grow, Advanced, Plus.
In-person fee per transaction10¢Source: Shopify (opens in a new tab)
Online rate2.9%Source: Shopify (opens in a new tab)Basic plan, consumer cards; business cards and American Express pay the premium rate (3.5% + 30¢ on Basic). Columns on the pricing page: Basic, Grow, Advanced, Plus.
Online fee per transaction30¢Source: Shopify (opens in a new tab)
Keyed-in rate3.5%Source: Shopify (opens in a new tab)Cards entered manually in Shopify POS or the admin, on Basic, Grow and Advanced.
Keyed-in fee per transaction10¢Source: Shopify (opens in a new tab)
American Express pricingA rate of its ownSource: Shopify (opens in a new tab)Online, American Express (and business cards) pay the premium rate; in person they pay the same rate as other cards.
American Express rate3.5%Source: Shopify (opens in a new tab)Online, on the Basic plan (3.3% on Grow, 3.1% on Advanced), plus 30¢. In person, American Express pays the regular in-person rate.
Rates by monthly volumeN/ASource: Shopify (opens in a new tab)Doesn't apply: rates depend on the Shopify plan you pay for, not on your volume.
Monthly and other fees
Data pointValue
Monthly account or plan fee$39/moSource: Shopify (opens in a new tab)Basic plan billed monthly ($29 a month billed yearly). Grow is $105 and Advanced $399 a month. POS Pro adds $89 a month per location, billed yearly.
Annual fee per account$0/yrSource: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
Annual fees per device or location$0/yr per deviceSource: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
PCI compliance fee (yearly)$0/yrSource: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
PCI non-compliance fee (monthly)$0/moSource: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
Statement fee$0/moSource: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
Monthly minimum$0/moSource: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
Fee per batch$0Source: Shopify (opens in a new tab)Shopify says Shopify Payments has no monthly, hidden or setup fees beyond the card rates and the plan; no fee of this kind is published.
Chargeback fee$15Source: Shopify (opens in a new tab)Returned to you if you win the chargeback.
Other feesPOS Pro (staff roles, in-store inventory) $89 a month per location, billed yearly (a 12-month term; 25% off, $67 a month, with the POS Pro yearly offer); cards issued outside the US +1% online; 2% (Basic) on orders paid through other payment providers. The Shopify plan is billed every 30 days in advance, with no refunds.Source: Shopify (opens in a new tab)
Equipment
Data pointValue
How you get the equipmentYou buy it, Use compatible equipment you haveSource: Shopify (opens in a new tab)You buy Shopify's card readers and POS devices; tablets, phones and other hardware you have often work. Tap to Pay works on a phone.
Price of a countertop terminal$349 one-timeSource: Shopify (opens in a new tab)Shopify POS Terminal (countertop, with a customer display). The Verifone Victa Mobile handheld is regularly $449.
Equipment lease you can't cancelNoSource: Shopify (opens in a new tab)Shopify sells its hardware at listed prices (POS Terminal $349, with 30-day returns) and rents hardware for markets, pop-ups and events; it doesn't publish a long-term lease.
Equipment lease termN/ASource: Shopify (opens in a new tab)Doesn't apply: no long-term lease.
Equipment at $0 upfront: what it commits you toA promotion, not $0 equipment: with a POS Pro yearly subscription (12 months at $67 a month per location; if you cancel early you pay the months left) you get a Verifone Victa Mobile ($449 regular price) for a $10 activation fee per location, and a $200 subscription rebate only after $10,000 in Shopify Payments sales within 90 days at one location. You keep the device if you don't renew. The yearly subscription renews automatically.Source: Shopify (opens in a new tab)
Equipment only works with this processorYesSource: Shopify (opens in a new tab)Shopify's card readers and terminals require Shopify Payments as the payment provider.
Getting your money
Data pointValue
Standard deposit speedMore than two business daysSource: Shopify (opens in a new tab)The minimum US settlement time is 3 business days, and longer for new accounts; Shopify Balance can speed it up.
Instant payout feeUnconfirmedSource: Shopify (opens in a new tab)Shopify's US payout pages don't publish an instant payout fee for Shopify Payments.
Holds and reservesShopify Payments can set a fixed or percentage reserve (for example 10% for 120 days) when it sees more risk, such as high chargebacks or refunds or sudden volume spikes, and can hold an account; the terms are sent by email and the funds come back when the reserve period ends.Source: Shopify (opens in a new tab)
Contract and exit
Data pointValue
Contract termMonth to monthSource: Shopify (opens in a new tab)Month to month with monthly billing: the plan is billed every 30 days in advance, with no term and no closure fee; you end it by contacting Shopify Support. A yearly plan is paid upfront, with no refunds.
Automatic renewalMonth to monthSource: Shopify (opens in a new tab)The monthly plan simply bills again every 30 days; there's no term to renew.
Notice to avoid renewalN/ASource: Shopify (opens in a new tab)Doesn't apply: no term to renew.
Notice to cancel0 daysSource: Shopify (opens in a new tab)You contact Shopify Support to close the account; no notice period, but the plan fees already paid aren't refunded.
Early termination feeNo early termination fee; plan fees already paid aren't refunded.Source: Shopify (opens in a new tab)
How the early termination fee is calculatedNo early termination feeSource: Shopify (opens in a new tab)No termination fee; fees already paid aren't refunded (a yearly plan is paid upfront).
Liquidated damages clauseNoSource: Shopify (opens in a new tab)No clause charges you for the months left on a monthly plan.
Price increases during the contractWith notice, and you can leave without a feeSource: Shopify (opens in a new tab)30 days' notice before fees change; since the terms have no term and no closure fee, you can leave before a change applies.
Right to raise pricesShopify can change its fees with 30 days' notice by email or in the Shopify admin.Source: Shopify (opens in a new tab)
Personal guarantee by the signerUnconfirmedSource: Shopify (opens in a new tab)The Terms of Service have no personal guarantee clause; the separate Shopify Payments terms are only shown in the Shopify admin.
Dual pricing and surcharges
Data pointValue
Dual pricing or surcharge programNoSource: Shopify (opens in a new tab)Shopify doesn't publish a dual pricing, surcharge or cash discount program for US merchants (we checked its pricing, POS and Shopify Payments help pages).
Cards the program coversN/ASource: Shopify (opens in a new tab)Doesn't apply: no program.
Monthly fee for the programN/ASource: Shopify (opens in a new tab)Doesn't apply: no program.
Your POS and your business
Data pointValue
Works with these restaurant POSNoneSource: Shopify (opens in a new tab)Shopify Payments works in person only with Shopify POS, which is built for retail: the industries Shopify lists for it are bikes, clothing, furniture, gifts, golf, hardware, ski, sporting goods and wine and liquor, with no restaurants. It doesn't work with restaurant POS systems.
Requires the vendor's own POSYesSource: Shopify (opens in a new tab)Shopify Payments works with Shopify's own POS and store.
Monthly volume it's built forUnconfirmedSource: Shopify (opens in a new tab)Shopify doesn't publish a volume for which its plans are meant; the price is the monthly plan.
Accepts high-risk businessesUnconfirmedSource: Shopify (opens in a new tab)Shopify doesn't say whether Shopify Payments accepts high-risk businesses.
Routes debit to the lowest-cost networkUnconfirmedSource: Shopify (opens in a new tab)Shopify doesn't say whether it routes US debit to the lowest-cost network.
Support
Data pointValue
24/7 support for merchantsYesSource: Shopify (opens in a new tab)Live chat around the clock on Basic; 24/7 phone support only on Plus.
Support channelsChatSource: Shopify (opens in a new tab)Live chat on Basic, Grow and Advanced; phone support is a Plus feature.
Language
Data pointValue
Support in SpanishHelp articles onlySource: Shopify (opens in a new tab)Shopify's help center has Spanish articles, including the US Shopify Payments pages; Shopify doesn't say whether its live chat answers in Spanish in the US.
Merchant dashboard in SpanishYesSource: Shopify (opens in a new tab)
Contract or terms in SpanishYesSource: Shopify (opens in a new tab)Shopify publishes its Terms of Service in Spanish for the US; if the versions differ, the English one prevails.
US website in SpanishYesSource: Shopify (opens in a new tab)Shopify's US site has a Spanish version (US prices in USD).

More about Shopify Payments

How we score