Overview of Shopify Markets Pro
Shopify Markets Pro makes it easy to start selling to new international markets and reduces the complexity of cross-border selling. Markets Pro takes care of local regulations, taxes, duties, international shipping, and localization for each international market. Learn more about Shopify Markets Pro features and how they compare to Shopify Markets.
On this page
Pricing
Markets Pro has the following fees for international orders:
- A 6.5% per transaction fee that includes payment processing fee.
- A 2.5% currency conversion fee, also known as an FX fee. By default, the currency conversion fee is added to your product prices and paid for by your customers. You can adjust your product prices for international markets to be higher or lower based on your preferences.
Markets Pro doesn't have a monthly fee, and there's no set time period that you need to commit to using Markets Pro. You can stop using Markets Pro at any time.
Flow of funds
Markets Pro features are powered by Global-e. After an international Markets Pro order is placed in your store, Global-e processes the transaction and holds the money in their account.
When Global-e goes across the border, they act as your merchant of record. Global-e holds the funds to remit the costs to proper authorities that are involved in the cross-border commerce transaction.
After Global-e remits all the costs, such as taxes and duties, you receive a payout of the remaining money.
Getting paid
Transaction data for fulfilled orders is aggregated on the 1st, 8th, 15th, and 22nd day of the month. Unfulfilled orders aren't included in payouts. Orders are considered fulfilled when the shipping label is scanned by DHL Express, for payout purposes only.
Each payment includes all transactions that occurred since the last payment period. Payment is sent within 1-3 business days, and in most cases takes a few additional days to be available in your bank account. The transaction data contains a full breakdown of all costs and fees involved for every fulfilled order. The breakdown of fees includes taxes, duties, remitted VAT, shipping costs, and the Markets Pro processing fee. On your bank account and credit card statements, Flow Commerce appears for Markets Pro transactions.
You can find your payout information in your Shopify admin.
Steps:
- In your Shopify admin, go to Finances > Payouts.
- Click Transactions.
- Click More filters.
- Click Payment method.
- Select Markets Pro.
- Click Done.
Calculating Markets Pro payouts
You can use the following calculation to calculate Markets Pro payouts:
Total order cost – (remitted tax/VAT + remitted duty + processing fee + currency conversion fee) = Amount paid
For example, when an order is placed for a shirt for a total cost of 150 EUR, the total breakdown of an order is the following:
The currency conversion rate on the day of the transaction is used to calculate your payout amount into your currency. In this example, 150 EUR is a converted total of 158.97 USD (1USD = 0.94364EUR).
What the customer pays
- a shirt costs 120 EUR
- duties cost 5 EUR (5.30 USD withheld)
- taxes and VAT cost 10 EUR (10.60 USD withheld)
- international shipping costs 15 EUR
In this example, your customer pays 150 EUR to Global-e. Global-e remits the following costs:
- the cost of 10 EUR tax/VAT to the government
- the cost of 5 EUR duties to customs agencies
What you pay
- The transaction fee of 10.33 USD (6.5% of the total order value) is paid as the Markets Pro processing fee.
- The currency FX fee of 3.62 USD (2.5%) is paid for currency conversion. The FX fee is calculated on the total order value (158.97 USD) net of the transaction fee (10.33 USD) and FX fee (3.62 USD).
You can add these amounts to what the customer pays by making price adjustments.
After all these costs are taken out, you receive 129.12 USD.
You need to decide how much you want to charge your customer for shipping. Markets Pro includes shipping rates recommendations for better conversion. The shipping fee that you collect from your customer is included in your payout. The cost of the shipping label you purchase is deducted from your future payout and is displayed in your order's timeline.
Local payment methods
With Markets Pro you can use more local payments methods for markets worldwide. For example, if you're selling products to customers in Denmark, then those customers can pay for products with Klarna using DKK currency.
New local payment methods are continuously being added to Markets Pro. Review the following table to learn more about currently available local payment methods, their geographic coverage, and available currencies:
| Payment method | Country | Currency |
|---|---|---|
| Klarna | Austria, Belgium, Finland, France, Germany, Ireland, Italy, Netherlands, and Spain | EUR |
| United Kingdom | GBP | |
| Denmark | DKK | |
| Norway | NOK | |
| Sweden | SEK | |
| Canada | CAD | |
| PayPal | In all supported countries | AUD, BRL, CAD, CZK, DKK, EUR, HKD, HUF, ILS, JPY, MXN, TWD, NZD, NOK, PHP, PLN, GBP, RUB, SGD, SEK, CHF, THB, and USD |
| Sofort | Austria, Belgium, and Germany | EUR |
| Switzerland | CHF | |
| iDEAL | Netherlands | EUR |