Accepting payments and understanding pay periods with Shopify Payments for Mexico

This article outlines the process of accepting payments with Shopify Payments in Mexico. Shopify Payments is a payment solution that allows businesses based in Mexico to accept a range of payment methods, including credit cards and debit cards from Visa, Mastercard, and American Express.

With Shopify Payments for Mexico, you can also offer your customers Apple Pay, Google Pay, and Shop Pay payment methods.

Key benefits and features of using Shopify Payments in Mexico

Review the following key benefits and features when using Shopify Payments in Mexico:

• Accept multiple payment methods: Shopify Payments allows you to accept major credit cards, providing a seamless checkout experience for your customers.
• Automatic setup: When you create your Shopify store with Shopify Payments activated, your store is automatically set up to accept major payment methods such as credit cards and debit cards from Visa, Mastercard, and American Express.
• Automatic payouts: Funds from your sales are automatically deposited into your bank account on a regular basis, making it easy to manage your cash flow.
• Flexible card rates: The card rate for your transactions is based on your store's Shopify subscription plan. You have the flexibility to change plans whenever you need, allowing you to choose the pricing structure that best suits your business.
• Integrated with Shopify: As an integrated payment solution, Shopify Payments simplifies the management of your online store by consolidating your payment processing and order management in one platform.
• Secure Transactions: Shopify Payments ensures the security of your customers' payment information through advanced encryption and fraud detection measures, such as 3D Secure checkout.

Currency considerations

With Shopify Payments in Mexico, you can receive payouts only in Mexican Pesos (MXN). The currency that your customers use to pay for their orders can be different from the currency of your payouts from Shopify Payments. Your store currency can be different from the currency of your bank account. Learn more about selling and getting paid in different currencies.

Fees for Shopify Payments in Mexico

Shopify Payments fees are location-dependent and can vary. To get the most accurate and detailed information about fees, refer to your region's pricing plan page.

The plans and pricing page is accessible only in the language and currency specific to that country. If you need to translate the plans and pricing page, then you can use a browser extension, such as the Google Chrome extension.

View payment rates in your Shopify admin

If you have Shopify Payments in Mexico set up, then you can access information about the specific rates and fees applicable to your store location and chosen plan. For more details about applicable fees, you can access the Shopify Payments Terms of Service from your Shopify admin.

Steps:

1. From your Shopify admin, go to Settings > Payments.

2. In the Shopify Payments section, click Manage.

3. View the rates that apply to different payment methods.

Pay periods with Shopify Payments in Mexico

Your pay period refers to the amount of time between the moment that a customer's payment is captured and when those funds are sent to your bank account. The timestamp for capturing a customer's payment is recorded in Coordinated Universal Time (UTC). Payments captured on Friday, Saturday, and Sunday are consolidated and sent as a single payment.

Note

Although the funds are sent promptly, they might not be reflected in your bank account immediately. Typically, banks require 24-72 hours to process and deposit the funds into your account.

In Mexico, the pay period is 7 business days. The minimum amount that can be paid out for Shopify Payments accounts in Mexico is 10 MXN. If there's a payout for less than this amount, then the payout stays in pending state until more funds are available to pay out.

Learn more about getting paid with Shopify Payments.

View your payouts

You can view your payouts in the Shopify admin and review any transfers that are pending, in transit, paid, or failed.

Steps

Desktop

1. From your Shopify admin, go to Settings > Payments.
2. In the Shopify Payments section, click View payouts.

iPhone

1. From the Shopify app, tap …, and then tap Settings.
2. In the Store settings section, tap Payments.
3. In the Shopify Payments section, tap View payouts.

Android

1. From the Shopify app, tap ☰, and then tap Settings.
2. In the Store settings section, tap Payments.
3. In the Shopify Payments section, tap View payouts.