Almost 70% of all online shopping carts, according to studies. Having a reliable payment system in place will help alleviate this major issue for online retailers. Optimizing the client experience from the moment they arrive on your website to the moment they complete their transaction is a certain way to boost your company’s chances of success.
For good reason, Shopify has quickly become one of the most widely used e-commerce systems worldwide. Very flexible in terms of appearance and functionality, and it’s also very user-friendly. The built-in payment gateway for Shopify is only one of Shopify’s many outstanding features. This tutorial will cover all aspects of Shopify Payments, from installation to the many payment options and troubleshooting strategies accessible to you.
Shopify Payments: What’s It All About?
When Shopify first launched, merchants who wanted to take credit card payments had to work with a separate company. Getting started with a third-party payment processor like PayPal required creating a new account and then connecting it to Shopify. It wasn’t a deal breaker, but it did make paying more complicated and give Shopify less say over the payment process.
Shopify Payments, the company’s own payment processing system, was released in 2013. In doing so, Shopify merchants may bypass the requirement for a separate payment gateway and take credit and debit card payments directly inside the Shopify platform. Given its cheap rates, smooth integration, and trouble-free setup, this native Shopify payment gateway comfortably competes with any major online payment gateway.
A major benefit of using Shopify’s built-in payment system is that no additional costs are levied on the retailer for processing payments made via the platform. All major credit and debit cards may be accepted for payment with no additional processing costs. In comparison to the standard credit card processing costs, which many payment gateways add on top of, this is a substantial saving. When you’re just getting started, every dollar matters, so avoiding this kind of transaction fee may have a significant impact on your bottom line.
When deciding on an online payment gateway, why should you use third-party provider?
Adding a one-click checkout to your Shopify site can help increase the business’s conversion rate. Find the greatest payment gateway aggregators and the most reputable BNPL suppliers all in one convenient location.
Get a third-party provider checkout integrated with the leading payment gateway for shopify aggregators in one package. From the sophisticated dashboard, it is simple to add, delete, swap, and modify the priority of items.
Providers like Nimbbl are introducing a new point of view to the payment process, making it possible for companies to have a more positive experience at scale and increasing the number of customers that make a purchase.
To help you better understand the value of using a third-party provider, we’ve compiled a list of some of the most salient advantages.
- Harmonious Coexistence
The Payments system is an integral part of the Shopify e-commerce platform. This eliminates the need for a time-consuming installation procedure or the maintenance of several user accounts. Integrating Payments into your existing Shopify shop is a breeze thanks to providers like Nimbbl who deliver seamless integration.
- Several Different Ways to Pay
Nimbbl payments allow you to accept a variety of payment methods, such as UPI, BNPL, major credit cards, debit cards, and Google Pay, after it is set up. Customers are more likely to finish a transaction when given many payment options to choose from.
- Native Purchase Now, Pay Later
With the popularity of interest-free financing options, consumers are more interested in extending the time it takes to pay off their purchases. Instalments are a breeze to set up with Nimbbl Payments, so you can start offering this service to your clients immediately. Customers may spread the cost of their purchase over four equal interest-free instalments, while you get the entire amount right now. We both benefit from this situation.
- Complete Command from a Single Interface
When you accept payments using the payment gateway for Shopify, they are entirely handled inside your Shopify account. This allows you to keep tabs on your sales and earnings from a single location with complete transparency into your payment processes. Shopify also provides in-depth reporting capabilities to help you analyze your company’s performance and make strategic choices based on hard evidence.
- Acceptance of Multiple Currencies
An online payment gateway that can handle transactions in several currencies is essential if you have consumers in more than one country. Since third-party provider payments support different currencies, you may take payments in any of those languages without worrying about the exchange rate. You may expand your worldwide consumer base and foreign sales by doing this.
- Data Encryption
The safety of financial transactions is of the utmost importance. All of your customer’s information is encrypted and kept safely in the payment system.