Shop Pay for Merchants FAQs
Does Shop Pay check credit?
Yes, Shop Pay sometimes checks your credit if you use its BNPL services. However, Shop Pay only performs soft credit checks, so you don’t need to worry about damaging your credit score.
Still, make sure to honor your payment obligations if you choose to use Shop Pay BNPL services. If you don’t, it may result in a default, damaging your credit score and impacting your ability to borrow in the future.
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Does Shop Pay do payments?
While Shop Pay streamlines the payment process, it is not the payment processor. When a customer checks out on Shop Pay, either Shopify Payments or a third-party payment processor is responsible for processing the transaction. For this reason, Shop Pay does not charge additional processing fees to merchants.
Who owns Shop Pay?
Shop Pay is a Shopify platform. Shopify, which first offered services in 2006, remains one of the world’s most advanced eCommerce platforms. The company simplifies the process of building online stores and selling products. Users can access web builders, third-party integrations, and a host of premium eCommerce features.
Can Shop Pay be used on different eCommerce platforms?
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Unfortunately, Shop Pay is not available on other eCommerce platforms. To use Shop Pay, you must be a Shopify merchant. However, this doesn’t mean you have to use Shopify Payments as businesses can use Shop Pay with third-party payment processors too.
How do I add Shop Pay to Shopify?
Adding Shop Pay to a Shopify store is simple. While we explore this process in-depth in this guide, below is a short list of the steps required to add the payment feature:
- Head to the “Shop” website
- Click the “Add Shop Channel” button
- Install the app to your Shopify store
- Manage payment settings
Is Shop Pay free?
For processing payments, Shop Pay does not charge any fees to customers or merchants. Merchants will still need to pay their negotiated processing fees to Shopify Payments or any third-party payment processors.
However, for BNPL transactions on Shop Pay, there are associated fees. Currently, you must pay 5.9% + $0.30 for transactions related to Shop Pay Installments.
Is Shop Pay the same as Afterpay?
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No, Shop Pay is not the same as Afterpay. While Shop Pay offers a BNPL service via its partnership with Affirm, it is a separate platform from Afterpay. And despite Shop Pay’s installment payment options, much of this platform is not focused on consumer credit. Instead, Shop Pay provides an easy-to-use tool for shoppers to save their credit card details and billing information, streamlining the checkout process.
How do you pay with Shop Pay?
If you are an online shopper, paying with Shop Pay is simple. When you check out at an online store with Shop Pay, you will see the Shop Pay button on the checkout page. If it’s your first time using Shop Pay, you’ll need to enter your card number and billing address to create an account. Shop Pay will send you an SMS code to confirm that you are the individual processing the payment. Your details will then be saved for future payments.
If you already use Shop Pay, clicking the button will autofill the payment details. However, Shop Pay will still need to send you an SMS code to confirm that you are processing the payment.
What card types are supported by Shop Pay?
The cards your business accepts on Shop Pay will depend on your payment processor. Shop Pay itself does not restrict card types, as it is only an extension of using the Shopify platform. However, your processor may have its own restrictions on card brands. So, it’s easy to accept payments from all major credit cards on Shop Pay such as Visa, Mastercard, and American Express as long as it’s permitted.
For example, if you use Shopify Payments as your payment processor on Shop Pay, US-based businesses can accept major cards brands like Visa, Mastercard, American Express, Discover because Shopify allows these brands.
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