I'd like to start using Stripe as my payment processor. I'm currently based in the UK and stripe is not available as an option at the moment, because Shopify Payments are available in the UK.
Is there still a way to use my own stripe account as my gateway?
I have connected my stripe account with a US account for USD payouts and a UK account for GBP payouts, which means I'm not losing anything in currency exchange. Shopify Payments on the other hand would allow only 1 currency type payouts, which means I'm losing a percentage of every transaction, because i'm relying on Shopify Payments to do the conversion.
Can you please advice?
Hi - sorry, I can't answer your actual question, but I wanted to ask: you know if you switch to Strip then you won't be able to charge in two currencies on your Shopify store, right? The ability to charge customers in multi-currencies only comes with Shopify Payments. So whatever FX savings you are gaining by currency-matching your payouts via Stripe will come at the cost of having to stop selling in USD and GBP on your store (I am assuming you are selling in two currencies since you want two payouts).
I'm looking for both, isn't it possible?
To be honest I don't mind if I don't use Stripe specifically. What I really want is being able to have payouts in USD and GBP (and even EUR) to different accounts. I don't mind if it's with Stripe or without - I just know that with Stripe what. describe is possible.
Unfortunately I don't know enough about Shopify Payments to be able to answer this. If you can have two payout currencies on your store and the ability to match them to your checkout currency, then I would go with Shopify Payments. However I have a suspicion that Shopify will only payout in one currency.
What I did to get around this is to set up completely different stores (with different domains) each with its own checkout and payout currency. So I have a mydomain.de that has checkout in EUR and payout in EUR, and mydomain.com that has checkout and payout in USD, etc.
I can't use Shopify Payments in my country so this was the only solution to offer different checkout currencies and it also has the advantage of setting individual payout currencies. On the downside it's expensive in both time and money to run identical but separate Shopify stores.
Yea, that's strange, I did not have to prove my company was in the US to get it set up as a USD-based store. My company is based the in Czech Republic and had no problem setting up in USD. In fact I have one store in USD, two in EUR, one in CZK, and one in GBP, and had no problem setting up any of them.
Hi StelioPapagrig, like MaximS mentioned, you may potentially run multiple sites serving different domains, and each domain allows a specific currency. For example, exampleshop.co.uk for your UK market with GBP currency, and exampleshop.com for the US and the rest of market with USD. In this way, you could control differences on currencies, prices, shipping costs etc.
Between these two shops, you could auto direct visitors to correct websites based on their geolocations by IP. Geo Redirect tool is worth checking out. You can easily set up redirecting rules within a few steps. No code is necessary. Shopify platform is perfectly supported.
Hope it helps.