Shopie Payments
Shopie Payments is the simplest way to accept online payments. It eliminates the hassle of setting up a third-party payment provider or merchant account and the hassle of entering credentials into Shopie. With Shopie Payments, you`'re automatically set up to accept all major payment methods as soon as you create your online store.
Requirements
When setting up Shopie Payments, you need the following information:
- Email address
- Country of business location
- Business legal form
- Bank account balance
- Account holder
- IBAN
This information is needed to create a linked business account with your financial services provider and to transfer funds to your bank account.
During the account creation process, you will need to verify your details by uploading a proof of identity document (ID card or passport) and proof of residence, and agree to the terms of service.
If you are creating an account for a company with a legal form, you will also need to identify your company details.
Note
Identification is required by law under the KYC (Know Your Customer) regulation.
Create an account
Follow the app installation instructions to install the Shopie Payments app.
Then go to the app settings page to start creating a business account.
- From the admin menu, tap Payments > Payments Shopie.
- Enter your details.
- Click Create your account.
Receiving payments
Note
You must complete your {businessName} payments account setup, including all your business details and banking information, within 14 days of your first sale. If your account is not set up within 14 days, then all payments are automatically refunded to the buyer.
Payment periods
Your payment period refers to the time between the day a customer places an order on your store and the day the funds from that order are sent to your bank account. Transfers are made daily on all business days. You can also set up your account to make transfers manually or schedule automatic monthly or weekly transfers. Funds from orders placed on Friday, Saturday, and Sunday are grouped together and sent together as one payment.
The funds may not appear in your bank account immediately after they are sent. It usually takes between 24-72 hours for banks to process deposits into your bank account.
Track Payments and Charges
You can track your scheduled balance and payment schedule from your admin area. Payments are synced with your orders. This makes it easy to see how much you are receiving for an individual order. When you use Shopie payments, you pay the price of the card, but you don't pay a subscription transaction fee.