Stripe is a leading online payment processing platform for businesses that allows Shopify store owners to use this as an alternative to Shopify Payments in countries where Shopify Payments are not available. It provides a fast, secure, and simple interface, which works as both a payment processor and gateway platform.
This integration helps merchants to offer alternative payment methods like Google Pay or Apple Pay. Stripe supports credit cards, debit cards, digital wallets, bank debit and transfers, and other payment methods like iDeal and Bancontact. This allows customers to choose their preferred payment method, which builds brand credibility and creates a smoother customer experience.
This platform charges the same transaction fee as Shopify payment for each Shopify plan and charges an additional 1.5% fee on international cards. Using Stripe on Shopify offers many benefits like customization options, alternative payment methods, real-time monitoring, and multi-currency support, which helps improve store performance.
What is Stripe?
Stripe is a leading online payment processing platform that allows businesses to accept payments via credit cards, debit cards, and digital wallets (Google Pay or Apple Pay) globally. It provides a developer-friendly API, robust security features, and support for recurring billing and multiple currencies. Stripe seamlessly works with e-commerce platforms like 3Dcart, Shopify, Wix, and BigCommerce, while offering tools for CRM such as invoicing, analytics, referrals, accounting, and shipping.
How does Stripe work?
Stripe is an online payment processing platform that functions as both a payment processor and a payment gateway for Shopify. When a customer pays on your website using a credit card, debit card, or online payment methods like Apple Pay or Google Pay, Stripe securely processes that payment in the background. It checks with the customer’s bank to authorize payment and then moves the amount into your Stripe account. After deducting transaction fees, Stripe transfers the remaining amount to your designated bank account. This makes the whole process simple, secure, and fast.
How to Connect Stripe with Shopify?
Online sellers connect Stripe with Shopify to receive payments securely and fast. Here are the steps to integrate Stripe with Shopify in minutes.
1. Create a Stripe account
Before integrating, you need a Stripe account. Here are the steps to create a Stripe account.
Go to the Stripe official website.
Click on the Sign in button. A dropdown menu appears, click on the Create Account option.
Fill up the required fields and create a strong password.
Now, click on Create account.
Verify your email, and you will be redirected to the Dashboard.
2. Connect Stripe with Shopify
You cannot connect a Stripe account directly to your Shopify store if Shopify Payments is supported in your country, because Shopify Payments is powered by Stripe and already uses Stripe’s functionality. Here is the process to integrate Stripe with Shopify.
- Go to your Shopify admin and click settings.
- After this, select a Payment option.
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Scroll down to choose a provider and click on Choose third-party provider.
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From the available list, Select Stripe.
- Now click Activate, and you will be redirected to the Stripe login or create an account page.
- Now, click Authorize access to this account.
- You will be redirected to Shopify, and Stripe will be connected.
How Much transaction fee Stripe for Shopify users?
Stripe charges the same transaction fee as Shopify Payments. Its transaction fee for Shopify users is 2.9% + $0.30 per transaction for online credit or debit card payments. For the Shopify plan, it's 2.6% + $0.30, and for the Shopify Advanced plan, it is 2.4% + $0.30.
If paid in-person, Stripe charges a transaction fee of 2.7% for Basic, 2.5% for Shopify, and 2.4% for the Shopify Advanced plan.
Additional fees apply for international cards (1.5%) and currency conversion (1%) if required, for both online and in-person payments.
What are the benefits of connecting Stripe with Shopify?
Integrating Stripe with Shopify offers many benefits to both customers and store owners. This enhances the overall payment efficiency and reach of your store’s payment system. Here are the significant advantages of connecting Stripe with Shopify.
Customization Options: Connecting Stripe with Shopify allows you to customize the Stripe checkout form to match your brand’s look and feel, providing a seamless and branded experience to your customers.
Alternative Payment Methods: Adding Stripe to your Shopify store allows you to integrate alternative payment options such as Google Pay or Apple Pay to cater to different customer preferences.
Real-time Monitoring: This allows you to monitor transactions in real-time via Shopify dashboard to gain valuable insights into sales performance and revenue trends.
Automated Refund: Stripe streamlines the refund process with automated refund handling and provides a hassle-free experience for both merchants and customers, which helps build trust and improve customer engagement.
Multi-currency Support: Integrating Stripe as a payment gateway in Shopify enables multi-currency support that makes your store serve a global customer base.
Detailed Analytics: Stripe offers detailed analytics and reporting tools to gain insights into sales, customer behaviour, and payment performance. Real-time analytics and customizable dashboards support data-driven decisions.
Fast Payouts: This integration provides fast payout schedules, which ensures that you receive the payment quickly and improves the cash flow of your business.
