Shopify · Commerce platforms
Shopify Payments review for Canadian businesses
Shopify Payments is the built-in processor for Shopify stores, with card rates that fall on higher plans. For stores selling internationally, the FX costs are the part to watch: when a customer pays in a currency different from your payout currency, Shopify charges a conversion fee of 1.5% on Basic and 1.0% on Grow, Advanced and Plus, and payouts in non-local currencies carry their own fee.
Who Shopify is best for
Shopify stores selling internationally and brands wanting checkout and payments in one place.
Businesses not on Shopify.
Shopify Payments is the built-in processor for Shopify stores, with card rates that fall on higher plans. For stores selling internationally, the FX costs are the part to watch: when a customer pays in a currency different from your payout currency, Shopify charges a conversion fee of 1.5% on Basic and 1.0% on Grow, Advanced and Plus, and payouts in non-local currencies carry their own fee. A multi-currency account in the right currency can cut these costs.
Fees, features and eligibility
| Card rate | 2.9% + C$0.30 domestic and 3.9% + C$0.30 international on Basic |
|---|---|
| International cards and FX | Currency conversion fee of 1.5% on Basic and 1.0% on Grow, Advanced and Plus; international currency payout fees apply |
| Monthly fee | Included with your Shopify plan |
| Type | Commerce platform payments |
| Coverage | Multi-currency selling and payouts |
| Best fit | Ecommerce stores on Shopify |
Source: Shopify published product information.
What stands out
Pros
- Built into Shopify
- Lower card rates on higher plans
- Multi-currency selling
Cons
- Currency conversion fees on foreign sales
- Fees on non-local currency payouts
Shopify: common questions
What is Shopify’s currency conversion fee?
1.5% on Basic and 1.0% on Grow, Advanced and Plus, when the customer pays in a different currency from your payout currency.
How can I reduce Shopify FX fees?
Receive payouts in the currency you sell in, using a multi-currency or foreign-currency bank account.
Used Shopify? Help other businesses choose.
