Now that you have set up your online store, you need to think about what tool your customer is going to use to buy something on your online store.
A payment gateway may sound scary, but you have actually used plenty of them when make a purchase like: Shopify, Paypal, Stripe, Amazon Pay, Google Pay, Apple Pay and even crypto payments. Not so scary anymore right?
This list will talk through all the pros and cons of the above payment gateways, so you can decide which one you would like to use for your dropshipping store.
Some things to consider before we dive in…
- Make sure that the payment gateway you choose supports the countries you are selling in and their different currencies
- Make sure that the payment gateway you choose supports dropshipping stores (preferably stick to this list)
- Check to see that you compare transaction fees different payment gateways apply depending on the volume of orders
- Check to see how responsive these payment gateways’ customer service is, so you can get the support you need if funds are on hold
Now we are ready to dive in!
1. Shopify Payments
The most common payment gateway for your dropshipping store is Shopify, since it is completely integrated to your dropshipping store on Shopify.
Credit card rates start at 2.9% + $0.30 for Basic Shopify plan, 2.6% + $0.30 for Shopify plan, and 2.4% + $0.30 for the Advanced Shopify plan.
- Integrated with Shopify
- Accepts all major credit cards
- Supports a variety of countries
- Payout every 3 business days
- No additional transaction fees
- Removes extra 2% transaction fee for other payment gateways on your store when enabled
- Deducts $15 for each chargeback unless you win the chargeback
- Make sure to check the list of countries they support
- Only available on Shopify
This is one of the most trusted and known payment providers, which means it can be a great addition to your dropshipping store!
Transaction fees depends on the country that you are from, so if you are from the US you pay 2.9% + $0.30, outside the US you pay 4.4% of the amount and an additional fixed fee based on your currency.
- Available in over 200 countries and supports 25 currencies
- Supports all major credit cards
- No termination or monthly fees
- Withdraw your money at any time for free
- Poor customer service
- Higher chance of your money to be put on hold for up to 180 days
- High fee when converting currencies
- High transaction fees
Stripe also holds a strong integration with Shopify and provides Shopify with Shopify’s gateway. International payments are charged 2.9% + $0.25, and currency conversion is an additional 2% fee.
- Easy and modern interface
- Supports more than 135 currencies
- Automatically transfers funds to a bank account
- Only available in 40 countries
- Need programming knowledge to customize
- Transaction fees similar to Paypal
4. Amazon Pay
This is convenient especially for dropshipping stores working in the US as customers can just log into their Amazon account and pay using their pre-saved payment on their account. US transaction fee of 2.9% + $0.30 and 3.9% + $0.30 for cross border transactions.
- Trusted by Amazon users
- Available on all devices
- Great fraud protection
- Integrated with Shopify Payments
- Similar transaction fees to Paypal
- Programming knowledge needed to set up unless with Shopify
- Extra fees can apply for domestic processing and cross-border
6. Google Play
Google Play is connected to your Google account, which makes paying online easy for Google users. Bank transfers and debit card transfers are free, but if you are using a credit card or Paypal, you will be charged 2.9% of the transaction amount.
- Fast, convenient and cheap
- Integrated with Shopify payments
- Free bank transfers and debit card transactions
- Saves payment information and address
- Features of Google Pay are limited for some phones and countries
- Low number of people using Google Pay
7. Apple Pay
Similar to Google Pay, Apple Pay is for iOS users. This is also the most popular payment for mobile transactions. The transaction fee will be 2.9%.
- Customers can pay without creating an account
- Integrated with Shopify Payments
- Accepts all major credit and debit cards
- Only available for Apple users
Well there you have it! As you can tell, Shopify is integrated with the majority and all of these payments we discussed today.
If you cannot decide on which payment gateway you want on your dropshipping store, then feel free to integrate them all onto Shopify. From here, you provide your customers with a variety of payment options.
Looking to start your dropshipping store and want to be fully integrated with Shopify? Start your free trial with RondeVu today so you can manage your dropshipping store with our full integration with Shopify.
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