Hello ! I am almost ready to launch my clothing business but I have a question regarding the payment method which is set as Shopify by default and says that there is a transaction fee 1,6 % + 0,20 . does this mean that I will get charged everytime a customer buys a product?
I am grateful in advance for your response !
I’m Helen from Shopify Support. Congratulations on getting close to your launch date; How exciting!
The fees that you are referring to are what the credit card companies charge to process a payment. Yes, they do apply to each order that you receive and the fee is deducted from the order total prior to your payout.
For example, if you a customer made a purchase for $100, the math would breakdown as follows:
Order total = $100.00
Credit card fee (1.6% + $0.20) = ($1.60 + $0.20) = $1.80
Payout = $98.20
I hope that makes sense?! Let me know if you need any further clarification on this.
I hope all goes well with your launch! I recommend taking a look at this store set up checklist before then. I’ve always found it really helpful in double checking that everything is ready to go.
I also suggest reading through this article on How to get your first sale in 30 days, for some ideas to help strategize a marketing plan.