Currently, Shopify Payments is only available for stores in certain countries/regions, including Australia, Austria, Canada, Denmark, Germany, Hong Kong, China, Ireland, Italy, Japan, Netherlands, New Zealand, Singapore, Spain, Sweden, United Kingdom, United States. Unfortunately, unfortunately, mainland China is not included here. In other words, the vast majority of sellers in mainland China are not Shopify Payment, which also means that they can only choose other payment collection tools with higher costs. Using all payment providers other than Shopify Payments will incur an additional fee of 0.5%-2%, as per Shopify's fees.
At this time, if you have a US company or a Hong Kong company, the benefits will be reflected, at least it can help you reduce the extra costs here. However, Hong Kong companies have high exchange rate losses due to receipts, which is not cost-effective. It is not Vietnam phone number list recommended to register a Hong Kong company to operate, and the gains outweigh the losses. Of course, if you don’t have the ability or plan to solve the problem of credit card collection through Shopify Payments, then let’s count the two other payment methods most used by sellers in mainland China, PayPal and Stripe. Receive payments via PayPal (not the Shopify Payments method) PayPal is also divided into PayPal mainland version and PayPal US version accounts.
Considering that most sellers register PayPal as a mainland company to collect payments, let’s take the Chinese mainland version of PayPal as an example to calculate the collection costs of different plans. PayPal sets a discounted rate based on the amount received, and there is also a5 withdrawal fee for PayPal received payments. This makes the calculation formula much more complicated. Shopify store opening tutorial-PayPal collection is a lot more complicated and a lot more expensive. Among them, PayPal has preferential rates based on the amount of payment received, and Shopify’s additional fees for using other payment collection tools will vary with different plans.