Set up Transaction Fees
Read the full tutorial below or watch this short video for setting up Transaction Fees:
Transaction Fees, or Third-party transaction fees, are charges that apply to each transaction when you use a third-party payment provider to take customer payments on your Shopify store. Besides that, some online payment providers also charge Processing Fees for your store on each order. In TrueProfit, you can manage both Transaction Fees and Processing Fees in the Transaction Fee page.
The Transaction Fees that Shopify charges you for using external gateways will depend on your Shopify subscription plan. This is between 0.5% and 2% as stated in their pricing:
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.
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.
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 to all of your orders in the past.
How to know if you have Transaction Fees in your store
Transaction Fees, or Third-party transaction fees, are charges that apply to each transaction when you use a third-party payment provider to take customer payments on your Shopify store. Besides that, some online payment providers also charge Processing Fees for your store on each order. In TrueProfit, you can manage both Transaction Fees and Processing Fees in the Transaction Fee page.
The Transaction Fees that Shopify charges you for using external gateways will depend on your Shopify subscription plan. This is between 0.5% and 2% as stated in their pricing:
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 to all of your orders in the past.
Updated on: 17/12/2024
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