Tap Forms for ios instal free1/31/2024 ![]() If you set up your Shopify Payments account as a registered business or any business type other than individual/sole proprietor, then you still need to provide personal details for an account representative. If you don't have a registered business with a number, then it might be more appropriate for you to choose individual/sole proprietor as your business type. The address in this section should be the address listed on any business registration documentation that you have. If applicable, add in your Business Number, EIN, or Taxpayer Identification Number (TIN) depending on which country your business is located in. In the Business details section, choose the business type. When setting up a Shopify Payments account, it's important that the form is correctly and completely filled out to reduce the possibility of verification issues from our banking partners in the future. If you provide a VAT number, then Shopify verifies it through VAT Information Exchange System (VIES). If your store is located in Europe, then you need to either provide a Value-Added Tax (VAT) number or indicate that you don't have one. ![]() Refer to the list of requirements for each supported country. The information needed to complete your Shopify Payments account setup depends on the country where your store is based. Only the store owner can change the payment provider. If you need to change your store currency after you've made your first sale, then contact Shopify Support to change your store currency. You should select a store currency before you make your first sale. It's the currency that you price your products in and that's used in your reports. Your store currency is the currency that is used in your Shopify admin. ![]() If your account isn't set up within 21 days, then payments might be automatically refunded to the customer.įor merchants in the European Union and Hong Kong, you need to complete the setup of your Shopify Payments account before you can accept payments from customers.īefore you set up Shopify Payments, you should decide on your store currency. You must complete the setup of your Shopify Payments account, including all your business details and banking information, within 21 days of your first sale. Learn more about exporting your transactions. These fees are over and above the fees paid to your new third-party payment processor.Īfter you have set up Shopify Payments and started getting orders paid with Shopify Payments, you can export your transactions to track your fees. Likewise, if you're using Shopify Payments and switch to another payment processor, then you begin paying the subscription transaction fees to Shopify. When you activate Shopify Payments, you stop paying the subscription transaction fees listed on Shopify's pricing page. If you decide to change your plan at any time, then your Shopify Payments credit card rate is updated. When you're using Shopify Payments as your processor, there are no third-party transaction fees for orders. īeyond the credit card rate and the subscription fees for your store's Shopify subscription plan, there are no monthly fees, no hidden fees, and no setup fees for Shopify Payments. You can see the full list of pricing broken down by plan on Shopify's pricing page. You can lower credit card rates by upgrading your subscription with Shopify. ![]() Shopify Payments costs vary based on your plan.
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