Shopify Payment service is totally a grey area and will leave you in the dark ! from my experience after working hard building my store and after launching by 3 months and making good sales, Shopify payment account department decided to hold my payouts without any prior notice, claiming that I have to fill legal KYC which I did immediately as all our documents are legal in USA .. but still they didn't unlock my payouts and in addition to that they canceled the Shopify payment service with holding my payouts for 120 days ! and when i asked about the reason so we can fix it if we have any issue in our documents, the answer came that we don't know the reason and they never gave a straight clear answer to work on it, all they said that it is the bank Shopify payments deal with final decision to close the service! so now our store payout are on hold and eventually we had to close the store for days until we activate another payment gateway which totally harmed our business in all ways... Shopify payments has the right to cancel their service at anytime with no explanation as per section B.5 in their terms which no one will read or give attention before applying.
on the other hand holding the payouts for 120 days is big question mark for me cause logically and legally any bank settles their account payments/refunds etc.. within 15 business days as max.. so why 120 days is also a no answer question by Shopify payments account department .. unfortunately they don't care fixing the issue and that has been proven the hard way after all emails and chats discussion to understand the reason in order to fix that issue but leaving the customer in the dark is their final say in order for me not to ask again and waist there precious time.... very disappointing
this KYC and the approval process should be the first thing to do before approving the store and allowing them to go live better than harming the business by closing the service all of a sudden ! and since they don't care about harming us that bad which I saw they did with many customers, I decided to share this with everyone and hopefully they learn how to deal with such cases professionally and without harming others.
at the end its only Shopify payment gate way that we don't recommend and that has nothing to do with Shopify platform for building your own website on it cause both are totally different services.