Stripe Payment System Integrated with Shopify
Ecommerce platform Shopify has released Shopify Payments, a credit card processing system (leveraging Stripe payments technology) that enables merchants to accept and manage VISA, MasterCard and American Express payments directly through their Shopify system - instead of going through a third-party payment gateway.
In addition to the direct integration with Shopify, merchants receive instant setup and approval as new stores are automatically deployed with the Shopify Payments system, providing an opportunity to start selling immediately without needing a separate payment gateway or merchant account. The system also provides real-time payment information so store owners can see their active payment balance and upcoming payout schedule, and receive notification by email when funds hit their bank account.
Shopify Payments comes at no additional cost with existing Shopify plans. Merchants that are on Shopify’s Starter plan will pay 2.9% + 30c per transaction, while those on the Unlimited plan will pay 2.25% + 30c. Shopify indicated that its payment solution charges no additional fees for accepting American Express or international credit cards, and no fees for included PCI Compliance protections.