We have a requirement that we are not allowed to charge our customers until we have shipped the item. Is this functionality available?
You can authorize the card and manually capture the payment. Do keep in mind that Shopify Payments CC authorization is guaranteed for 7 days. For Shopify Plus merchants authorization for some credit cards lasts for up to 30 days.
For most plans, it’s 7 days authorization. So if you plan to ship your orders within the 7 day period, then you can manually capture the payment after shipment.
More on this topic here:
https://help.shopify.com/en/manual/payments/payment-authorization