So, you’ve gone over all the eligibility criteria
and decided that Shopify Payments is right for your business.
Now let’s set it up and start using it.
Before starting the setup process for Shopify Payments,
you’ll first need to decide on a store's currency.
A store currency is the currency used in your admin and the one you price your products in.
To choose a currency, go to “Settings” in your admin.
Under “Store Currency”, choose the currency for your store.
Then, click “Save”.
Your store currency can be different from the currency your bank account is in.
For instance your store may be located in Europe, but most of your sales happen in the US.
You may want to keep the currency of your store in USD but have your payouts in Euros.
It’s important to note that while your store currency can be any those listed in your store
settings, the currency you receive your money in is based on where your store is located.
This is because your bank account must be located in the same country as your store.
If you need to change your currency after making your first sale,
you’ll need to contact Shopify support for assistance.
Once you’ve picked a currency, you’re ready to activate Shopify Payments.
If you haven’t already set up a payment provider,
you can do so by clicking the onboarding card on the home screen,
…and then clicking “Set Up Shopify Payments”. This will take you to the “Payment” section
of your settings where you’ll be able to click “Complete Account Setup” for Shopify Payments.
If you have previously set up another payment provider but wish to switch to Shopify Payments,
you’ll see the primary provider “here” at the top of the payment section and the link to
“Switch to Shopify Payments” just below it. Once you have activated Shopify Payments,
if applicable, you’ll be able to enter your Business Number,
or Taxpayer Identification Number depending on which country your business is located in…
…your personal information… …and banking information.
If your store is located in Europe, you’ll need to provide a Value-Added Tax number or
indicate that you don't have one. When setting up Shopify Payments,
you’ll need to choose your type of business. If you are a corporation you can provide
your business number, EIN or Taxpayer Identification Number for your business.
If you’re a sole proprietor and don't have one of these numbers,
you can submit your Social Insurance Number or Social Security Number instead.
Keep in mind, that if you set up your Shopify Payments account as a corporation or LLC,
you will still need to provide the name and date of birth of someone associated with the business.
This is a requirement for verification purposes.
All businesses need to submit a tax ID and are responsible for collecting and remitting tax
on their sales to the appropriate government authority. It's recommended that you
discuss any tax issues relating to your business with a local tax professional.
You may also be required to submit details about you and your business.
This information is used to help identify merchants using Shopify Payments and is a
requirement to comply with the terms of service. What is required to be collected may differ from
country to country. Typically, this includes documentation about the business associated
with the Shopify Payments account, about the owner of the business or about an individual
with signing authority for the business. If Shopify is unable to verify your identity
using this information, you may be asked to submit additional documentation that could include,
Proof of identity, Proof of home address or Proof of business verification.
Because of the sensitive nature of personal information, the requested documents can only
be submitted through your Shopify admin, not through our live chat support team or email.
Your identity, home address, and proof of entity documents must
be reviewed and matched successfully to the information on your Shopify Payments account
before your business can be fully verified.
Reviews of your Shopify Payments account can take up to 3 business days to complete.
Once Shopify Payments is set up, customers will be able to use the service to checkout on your store.
Let’s take a look at what customers see when they make an order.
After entering their address and picking a shipping method,
they’ll be taken to the payment screen. Here, they’ll be able to see the most
popular credit card options offered. After entering their credit card details,
they can review the order before placing it. If you have Apple and Google pay enabled and
customers are using a matching device, they will have the option to pay with it on the cart page.
Once the order has been placed, you'll see the order show up in the order section of your admin
and your customer will receive a notification.
Now you know how Shopify Payments works and you are well on your way to making sales.
For more information on everything shown in this video, visit help.shopify.com