Hi!
So the reason for this is that Shopify works with companies. If you want to split your earnings here’s what you gotta do.
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Sign up and make sure the store owner is either of you, this is also the person who is listed as the owner of the company.
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Add a second beneficiary while signing up for Shopify Pay. This is for legal reasons the second person in the company. You can decide internally you both have the same amount of vote right etc.
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Make 1 company bank account. And let your Shopify store payout to that account.
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From that bank account, after taxes, split the profit evenly between the two of you.
Hope this helps!