All Shopify-supported payment methods rely on third-party providers to process your transactions. These providers might charge extra fees, as well as enforce rules about what products you can sell using their service. When you set up a payment method, check with the company providing the service to make sure you understand their rules and fees.
How you get paid
When you set up a payment provider to accept credit card payments, each payment must be processed, so there is usually a delay between when the customer pays for their order and when you receive the payment. After the payment is processed, the purchase amount will be transferred to your merchant account.
Other payment providers, such as PayPal, will have their own ways of getting funds from your customer to you. Check with the service you are using to find out how they will pay you. You can accept manual payments outside of your online checkout, such as money orders or bank transfers. Unless you activate Shopify Payments as your payment provider, you'll be charged transaction fees for all orders that aren't brokered financially by Shopify. This includes all orders that go through Shopify's checkout system.
How often you get paid
If you are using Shopify Payments, then you can check your pay period to see when you'll receive payouts from credit card orders. Other payment providers have their own rules on when you receive payouts for credit card orders. Check with your provider to figure out how often you will be paid.
After the payout is sent, it might not be received by your bank right away. It can take a few days after the payout is sent for it to be deposited into your bank account. Check with your bank if you find your payouts are being delayed.
How much you get paid
You can be charged several transaction fees for online transactions. For credit card transactions, the issuer, the acquirer, and the credit card company all charge a small fee for using their services.
If you have Shopify Payments enabled, then you won't be charged transaction fees for any orders made on your online store. Instead, you'll pay a card rate that depends on your Shopify plan. If you are using a third-party payment provider with Shopify, then Shopify will also charge you a fee for each transaction.
How a credit card payment gets processed
When a customer pays for their online order using a credit card, the payment has to be processed before the funds are added to your merchant account. Credit card processing is done for you by your payment provider. This process has the following stages:
The customer uses their credit card to pay for the order on your store. The payment provider you've set up checks with the issuer to make sure the credit card is valid. If the card is valid and has enough funds, then the issuer authorizes the payment. No funds are transferred at this stage.
After the payment is authorized, the payment has to be captured. When a payment is captured, details about the payment are sent to the acquirer.
The acquirer reviews the payment details, and then requests the necessary funds from the company that processes the customer's credit card.
The credit card company sends the transaction information to the issuer. The issuer subtracts a small fee from the total transaction amount, and then sends the remaining amount back to the credit card company. The card company subtracts their fee, and then sends the remaining amount to the acquirer.
The acquirer subtracts a small fee from the amount, and then transfers the final amount to your merchant account.