Shopify Shopify Payments and Checkout 1

Question 1

What is 'Shopify Payments' and what is its key advantage?

Accepted Answer

Shopify's built-in payment processor that eliminates transaction fees

Answer

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?

Accepted Answer

A transaction fee of 0.5%–2% depending on the plan

Answer

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?

Accepted Answer

Shop Pay Installments

Answer

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?

Accepted Answer

An accelerated checkout that saves customer payment and shipping details

Answer

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?

Accepted Answer

Settings > Payments

Answer

Payment methods, including Shopify Payments and third-party gateways, are configured under Settings > Payments.

Shopify Practice Test