Shopify Shopify Payments and Checkout 1 — Questions and Answers
Question 1: What is 'Shopify Payments' and what is its key advantage?
- A third-party app for invoicing
- Shopify's built-in payment processor that eliminates transaction fees (Correct answer)
- An international currency converter
- A buy-now-pay-later service
Correct answer: Shopify's built-in payment processor that eliminates transaction fees
Shopify Payments is Shopify's native payment gateway that removes third-party transaction fees when used.
Question 2: What additional fee does Shopify charge when using a third-party payment gateway instead of Shopify Payments?
- No additional fee
- A transaction fee of 0.5%–2% depending on the plan (Correct answer)
- A flat $10/month surcharge
- A 5% fee on all sales
Correct answer: A transaction fee of 0.5%–2% depending on the plan
Shopify charges a transaction fee (0.5%–2% based on plan) when merchants use an external payment provider instead of Shopify Payments.
Question 3: Which payment method does Shopify support for installment payments at checkout?
- Shopify Capital
- Shop Pay Installments (Correct answer)
- Shopify Balance
- Shopify Lending
Correct answer: Shop Pay Installments
Shop Pay Installments allows customers to split their purchase into interest-free payments at checkout.
Question 4: What is 'Shop Pay' in the context of Shopify checkout?
- A loyalty points system
- An accelerated checkout that saves customer payment and shipping details (Correct answer)
- A business bank account
- A point-of-sale terminal
Correct answer: An accelerated checkout that saves customer payment and shipping details
Shop Pay is an accelerated checkout option that lets returning customers complete purchases with saved information in one tap.
Question 5: Where do you configure which payment methods appear at checkout in Shopify?
- Online Store > Themes
- Settings > Payments (Correct answer)
- Settings > Checkout
- Settings > General
Correct answer: Settings > Payments
Payment methods, including Shopify Payments and third-party gateways, are configured under Settings > Payments.
Question 6: What does 'fraud analysis' in Shopify orders help merchants do?
- Automatically block international orders
- Identify potentially fraudulent orders using risk indicators (Correct answer)
- Encrypt customer payment data
- Automate chargebacks
Correct answer: Identify potentially fraudulent orders using risk indicators
Shopify's fraud analysis flags orders with risk indicators so merchants can review them before fulfilling.
Shopify Shopify Payments and Checkout 1
What is 'Shopify Payments' and what is its key advantage?