Adding Transaction Fees and Processing Fees for your payment gateways
What is Transaction Fees?
If you use one or more third-party payment providers for your Shopify store, it will incur Processing Fees and Transaction Fees. For example, if you are using PayPal US, the transaction fees for check outs are 3.49% + fixed fee.
The rate between Paypal, Stripe and other gateways can be different. Shopify also charge an additional fee for using external gateways other than Shopify Payments. This is between 0.5% – 2% depending on your Shopify plan.
Adding Transaction Fees in TrueProfit
When you open the Transaction Fees menu, you can find the settings to add new fees and payment gateways for your stores. We've pre-filled all the default fees for your store, make sure to review the fees based on your location, payment provider, and Shopify plan.
Adding more Payment Gateways
In addition to the 3 default payment gateways (Paypal, Stripe, Shopify Payments), you can add other gateways in the Transaction Fees settings if you are currently using them in your Shopify admin.
Click Add Payment Gateway on the top right corner
You will see a drop-down list showing all the gateways that are automatically retrieved from your stores' historical orders. Select one and click Add
Then you can set up or modify a formula for your newly-added gateway just as you would do with the default payment gateways. When you’re done, click Save to save all changes.
If you no longer use a payment gateway, click Delete.
Update Transaction fees to all orders in the past
After you've edited any fees in the Transaction Fees settings, the app will save your setting to apply to future orders only. If you want to apply new costs to orders in the past as well, please click the button Recalculate past orders to apply the new costs you all of your orders in the past.
Updated on: 19/02/2024