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    Shopify Payments vs Stripe – Which payment processor should you choose?

    • August 07, 2023
    • 6 min

    Shopify Payments and Stripe provide merchants with functionally equivalent services. Both let you take and process payments via the Internet, a must for any successful e-commerce venture. Since Stripe is the technology behind Shopify Payments, you can be certain that both platforms provide the same safety and efficiency when handling financial transactions. Despite sharing some common ground in their core technology, Stripe, and Shopify Payments are not identical. To assist you in making the best decision for your business, here in this post on Shopify payments vs Stripe is a detailed overview outlining the capabilities, costs, and benefits of each service.

    Shopify Payments vs Stripe – An Overview

    Businesses may take payments through digital wallets, ACH transfers, credit cards, and debit cards thanks to Stripe. Stripe provides a wide variety of payment options, both pre-made and modifiable. It is accessible in over 30 countries and supports 135 different currencies for payment processing. Furthermore, there are several methods to include it in your company’s overall strategy. Shopify and WooCommerce are just two of the many e-commerce platforms that provide built-in support for Stripe. In addition, businesses may utilize pre-built integrations to link their site to Stripe, charge clients via online invoices and shareable links, and process POS transactions using Stripe Terminal.

    The only method for e-commerce businesses to take payments on Shopify without incurring third-party transaction fees is by using Shopify Payments, which is included with all Shopify subscriptions. Store owners may accept credit card payments online and in person with the help of Shopify’s streamlined POS system and payment gateway, Shopify Payments. It is accessible in 22 countries and supports over 130 different currencies and interfaces with over a hundred different payment processors.

    Shopify Payments vs Stripe – Ease of Use

    Simply create a free account on the Stripe website to begin using the service. When you sign up for an account, you won’t be asked for any financial information until you decide to make a withdrawal. Stripe’s payment options are also quite quick. The default payment frequency of the system is daily, however, companies may choose between weekly and monthly frequencies.

    Online and in-person payments processed via Stripe typically result in accessible funds within 2 business days, however, this time frame might vary by user’s bank and geographic area.

    On the other hand, you’ll need a Shopify account in order to use Shopify Payments. To begin collecting payments, you will need to subscribe to the ecommerce website service, but the Payments solution is free to use. You may start accepting payments using Shopify Payments or another service immediately after setting up your Shopify store. Furthermore, you may be subject to additional processing costs if you choose to use an external payment processor in addition to Shopify.

    Shopify Payments vs Stripe – Processing Fees

    It’s important to keep in mind that most payment processing systems have associated costs. Thankfully, Shopify and Stripe both have very clear pricing systems. Stripe’s costs for processing payments are typical. 2.9% + 30 cents for all online purchases. 2.7 percent additional 5 cents for in-person purchases. The manual Processing Fee is 3.4 percent + 30 cents and 3.9% extra 30 cents when converted to your currency.

    Shopify Payments’ costs are more difficult to understand than those of other payment processors since they change based on the Shopify plan you select. Shopify Basic costs $29 per month plus 2.9% + 30 cents for online payments or 2.7% + 30 cents for in-person sales. Shopify’s e-commerce platform costs $79 a month, with an additional 2.6% + 30 cents for online payments and 2.5% for in-person transactions. The Shopify advanced e-commerce package costs $299 per month, with a transaction fee of 2.4% + 30 cents for each online sale, or 2% for each in-store sale. Lastly, Shopify Plus plans start at $2000 per month and are the most cost-effective option overall, with pricing that varies by region.

    Shopify Payments vs Stripe – Pros and Cons

    Stripe takes several different types of payments, including credit cards, debit cards, bank transfers, pay-later plans, and more. Although Stripe’s local payment processing rates may differ depending on where you live, the company’s overall pricing structure is simple. Furthermore, it is a flexible solution with many options for customization, such as a variety of pre-made checkout pages, integrations, and APIs. But, it takes a fair amount of developer know-how to make the most of Stripe’s configuration settings. Although the Stripe terminal allows for some in-person payment processing, this service is more ideally suited to Internet merchants.

    Shopify Payments is already included in all Shopify stores, regardless of the Shopify plan you choose to pay for each month. It may help you minimize your monthly fees if you use Shopify for your online store’s backend. Shopify’s customer service is available through email and live chat around the clock, regardless of the subscription you choose.

    In addition, there are bundles that provide access to a help desk by phone.
    Shopify Payments is user-friendly, requiring little time to set up and implement. It won’t take more than a few minutes to set up your account and begin tailoring your payment preferences. But, Shopify Payments is restricted to Shopify customers and is only accessible in a subset of regions and nations compared to Stripe.


    Ultimately, the choice between Shopify Payments and Stripe depends on your business size, scope, and technical proficiency. Small businesses with simpler payment needs and a focus on the Shopify platform might find Shopify Payments more convenient. Meanwhile, businesses seeking greater customization, international capabilities, and a wider range of features may lean toward Stripe.


    Which payment processor is better for small businesses?
    For small businesses operating primarily on the Shopify platform, Shopify Payments can offer a user-friendly and integrated solution. However, if you anticipate growth, have complex payment requirements, or plan to expand beyond Shopify, Stripe’s flexibility and global capabilities might be more suitable.
    Does Stripe work with Shopify?
    Yes, Stripe can be integrated with Shopify as a third-party payment gateway. This allows you to leverage Stripe’s advanced features while still benefiting from Shopify’s e-commerce tools.
    Are there any hidden fees with these payment processors?
    Both Shopify Payments and Stripe are transparent about their transaction fees. However, it’s important to review the specific fee structures, especially for cross-border transactions or using third-party gateways, to avoid any unexpected costs.
    Which payment processor has better international support?
    Stripe is known for its extensive international reach, supporting a wide range of countries and currencies. If your business serves a global audience, Stripe might be a more suitable choice.
    Do these payment processors offer fraud protection?
    Both Shopify Payments and Stripe provide built-in fraud protection and security features. However, it’s always recommended to implement additional security measures to safeguard your transactions and customer data.

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