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.
To use Markets Pro, your store needs to be on the Basic Shopify plan or higher, and have an online store.
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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 the FX fee. 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.
If you use B2B, then your B2B orders aren't compatible with Markets Pro and the transaction fee isn't applied to your international B2B orders.
Merchant of record
A merchant of record is the legal entity responsible for selling products to a customer, and for adhering to local laws and regulations in another region or country. Unless another party like Global-e is hired to take on these responsibilities, most merchants act as their own merchant of record. When you act as your own merchant of record, you're responsible for registering for and remitting taxes, arranging to accept local methods of payment, and organizing shipping and fulfillment.
With Shopify Markets Pro, Global-e manages the complexities of selling to other countries or regions on your behalf, including remitting tax to local authorities, accepting local methods of payment, and managing duties and import tax, allowing you to start selling to new international markets quickly. When using Markets Pro, you don't need tax registration in the countries you sell to. Global-e provides the tax registration, allowing you to comply when selling internationally.
Harmonized System (HS) codes
In Shopify Markets Pro, HS codes are automatically assigned to your products and might differ from the ones that you initially input. These codes are adjusted based on country-specific restrictions to facilitate the smooth delivery of orders with duties paid. This ensures compliance with import regulations and simplifies the process of shipping products internationally. For more information on HS codes and their assignment in Shopify Markets Pro, you can refer to collecting international duties and import taxes at checkout.
Markets Pro benefits
When you sell internationally, you need to take care of multiple complexities, such as shipping, taxes, duties, and product restrictions depending on the destination country. Markets Pro can help you reduce these complexities and handle them for you. Review the following benefits of using Markets Pro when selling internationally:
- Product restrictions and local laws: Markets Pro complies with local laws for cross-border products and restricts certain products to specific destinations. Markets Pro also creates commercial invoices and remits them where needed. To learn more, refer to the Markets Pro Merchant Service Terms.
- Guaranteed currency conversion rate on refunds made within 30 days of the transaction: Markets Pro ensures that you can refund orders at the currency conversion rate that was given at the time of purchase within 30 days to avoid currency rate fluctuations.
- Guaranteed duty and taxes amounts at checkout: The duty and tax amounts that are displayed at checkout to your customers are guaranteed. This means that even when the amount charged by customs is different, Markets Pro covers the difference and you don't have to pay any additional fees.
- Tax filing registration in local destinations: Markets Pro handles local destinations tax filing responsibilities for your Markets Pro orders.
- Fraud management: Every order on Markets Pro is automatically reviewed for fraud and given chargeback protection. There are some rare chargeback cases that aren't covered by Markets Pro that you're responsible to handle yourself. To learn more refer to Fraud and chargebacks.
- Increased customer conversion: Markets Pro supports features such as Shop Pay, local payment methods in customers' local countries, and shipping with pre-paid duties, which can help increase your customer conversion rates.
- Enhanced customer experience for higher customer retention rates: You can offer delivered duty paid (DDP) shipping at checkout. Your customers don't have to pay any extra fees at the time of the delivery. This lets you communicate exact shipping fees without any surprise fees, which can help with cart conversion.
- Customer address validation at checkout: Markets Pro checks whether the address that your customer adds during checkout is valid.
To learn more about Markets Pro features, refer to the Comparing Shopify Markets and Markets Pro features.
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.
Your transactions for fulfilled Markets Pro orders are collected and combined to a payout on the 1st, 8th, 15th, and 22nd day of each month. A payout is sent to your bank account within 1-3 business days. Sometimes it can take a few additional days for the funds to become available in your bank account.
You receive payouts in USD and only for fulfilled orders. For more information about payouts, refer to Getting paid for Shopify Markets Pro orders.
If you have checkout extensibility activated on your store, then you can use Shop Pay for your international markets with Markets Pro. Your international customers can use their Shop accounts for express checkout.
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:
|Klarna||Austria, Belgium, Finland, France, Germany, Ireland, Italy, Netherlands, and Spain||EUR|
|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|
Fraud and chargebacks
Every Markets Pro order is checked for fraud and is given chargeback protection.
However, in the following cases you're responsible to handle chargebacks yourself:
- Friendly fraud: Friendly fraud, also known as chargeback fraud, usually occurs when your customer makes a purchase with their credit card, receives the product, and then disputes the charge with their credit card company claiming that the transaction was fraudulent or unauthorized. Another case of friendly fraud is when Markets Pro rejects your order for fraud, but you still ship the package.
- Service error: When your customer disputes the charge with their payment provider, because the customer believes they're entitled to receive a refund but you don't provide one, you or your fulfillment partner doesn't fulfill an order, or the item received is different than as described on your store.
- Fulfillment issue: When your order isn't delivered by the shipping carrier and might be lost.
- Dangerous goods shipped by mistake: When you add a dangerous item, not part of your product catalogue approved for Markets Pro, to a package by mistake and ship it.