Shopify is known for providing all-in-one eCommerce solutions to individuals and businesses who want to sell their products online. The Canadian company has established its name for powering eCommerce platforms and remains one of the most popular companies in its particular sector.
The online shopping cart tool also offers physical point of sale (POS) solutions that allow its clients to accept credit card and debit card payments in person. Combined with its online payment powering solutions, this financial product takes the name of Shopify Payments.
Shopify payments are powered by Stripe who deals with the processing fee, the payment method, credit card transaction fees and deals with many Shopify Merchants.
However, Shopify Payments mainly utilizes its branding in its payment processing solutions. It also makes it highly simple to integrate these payment services into the powered and hosted websites by its platform for Shopify Merchants. The brand makes it possible to run an online store, incur a transaction fee, helps those using Shopify Payments to minimize their reliance on several third party services through its Shopify Payments plan options.
At the same time, its POS hardware also remains quite easy to set up for those clients who may also sell their online store products in person.
But despite boasting of a straightforward setup, Shopify Payments are known for being more expensive as compared to traditional credit card services providers. The pricing is often justified by the ease of use of these solutions.
However, it runs high when you consider other payment service providers such as Fattmerchant, which offer the same or an even greater level of accessibility at more affordable price points.
Here is a direct comparison and overview of both services to help you determine how the online store provider and its Shopify Payments compare to the Fattmerchant payment processor services.
Shopify Payments Come With Stipulations to Use Other Services
As noted above, Shopify Payments is a division of the company’s eCommerce services. This means that to use these solutions and obtain their full benefits, you need to subscribe to one of Shopify’s monthly plans.
Shopify Has Additional Monthly Fees in Place
Starting from $29/month and going up to $299/month, the main Shopify plans include its hosting solutions, its eCommerce website design tools, and its overall management services for online businesses.
This subscription may apply to hybrid businesses that also sell their solutions in-person or through their physical premises.
Each of these plans covers the basic Shopify Payments service for retail stores that are called Shopify Point of Sale Lite. But if you need additional solutions such as omnichannel selling or unlimited registers, you need to pay for Shopify Point of Sale Pro with an extra $89/month per location.
Fatmmerchant Has No Such Requirement
On the other hand, Fattmerchant is a fully-fledged payment services provider that offers solutions to any business that needs online payments or in-person payment services.
You do not need to hold a subscription to an additional/special service or host your website with Fattmerchant to take advantage of these payment solutions.
Instead, your payment plan and costs relate entirely to your payment requirements. This particular factor sets Fattmerchant apart from Shopify Payments and adds greater accessibility to it.
Shopify Payments Has Additional Charges As a Standalone Service
If you are currently considering an all-in-one payment solution for your online or hybrid business, Shopify Payments would require you to sign up for website hosting or management tools subscription with the platform.
Fattmerchant does not hold any such requirements. Fattmerchant is a pure-play payment services provider that can meet your payment processing needs.
This also means that if your online store already exists on another hosting service, you would need to move it to Shopify to use Shopify Payments.
But with Fattmerchant’s payment solutions, you can keep your online store on its hosting while taking advantage of the payment services you need.
When It Comes to Payment Services, Shopify and Fattmerchant Offer Similar Solutions
As mentioned above, you need to meet particular criteria as a Shopify subscriber to use Shopify Payments services. But once you access them, the overall solutions are not much different from a conventional third party payment services provider in their most basic form.
For instance, both Shopify and Fattmerchant offer standard grade security in the form of Payment Card Industry Data Security Standard (PCI DSS) compliance.
With that, Shopify Payments’ overall offerings are quite limited, especially in terms of its hardware.
Point of Sale Payment for Retail Stores
Both Shopify Payments Point of Sale Lite and Shopify Payments Point of Sale Pro allow you to accept in-store payments to process credit card and debit card transactions from major payment networks. This can be done through multiple devices, which are available in the form of Shopify’s card readers.
As compared to conventional Point of Sale equipment, these card readers do not have a display screen of their own. Instead, they connect to your tablet or smartphone to process payments.
The Shopify Chip & Swipe Reader, which accepts both EMV chip and magstripe payment cards, is available for a one-time fee of $29. Whereas, the Shopify Tap & Chip Card Reader that accepts EMV chip cards comes at a one-time fee of $49.
To accept in-store payments, you need to pay an approximate amount of 2.4% – 2.7% per transaction.
On the other hand, Fattmerchant offers a variety of conventional as well as modern POS equipment that also lets you select devices with built-in screens.
This gives you a wider range of options and lets you be more flexible in your selection. Fattmerchant marketplace devices can accept EMV chip and magstripe cards without any issues.
The rates offered by Fatmerchant are also quite competitive. For instance, the company processes its in-store payments at a monthly rate plus access to direct costs of the interchange.
Merchants appreciate Fattmerchant due to its overall affordability, simplicity, and straightforward process when it comes to its overall service.
Wireless Payments for Mobile Vendors
Shopify’s card reader equipment comes with built-in wireless functionality; it is already enabled to accept payments without being tied to a physical location.
This particular function allows you to accept in-person payments anywhere through a single device. However, if you operate your business at multiple locations, you will need to pay the Shopify POS Pro fee of $89/month per location.
The fee to accept payments wirelessly through EMV chip or magstripe cards remain the same as the in-store fee, which is 2.4% – 2.7% per transaction.
On the other hand, Fattmerchant also offers wireless payment solutions for a variety of mobile vendors. This equipment can be selected from various devices and can be easily powered through Fattmerchant’s services.
For Fattmerchant, the transaction charges for wireless payments also come with its regular monthly pricing plan with access to direct costs of the interchange. This once again makes the company a more affordable solution as compared to Shopify Payments.
Tap to Pay or Contactless Payments
Out of Shopify’s two available card readers, the Shopify Tap & Chip Card Reader is enabled for contactless payments and accepts Apple Pay and Google Pay.
This lets you accept tap to pay transactions without any additional setup. With that, these transactions’ charges remain the same as the in-store or in-person transactions, which makes them expensive.
In comparison, Fattmerchant offers you a more comprehensive range of tap to pay POS and wireless payment devices and does so at its more affordable rates of in-person transactions. It also supports methods such as Apple Pay and Google Pay without any issues.
This makes Fattmerchant a better choice in terms of exploring your options and controlling your long term costs.
Online Payment Gateway
Since Shopify is originally an eCommerce platform, it is no surprise to see that this is the one section where its range of solutions can match other vendors in terms of overall functionality.
Shopify’s online payment gateway can accept all primary payment methods to process credit card and debit card payments. Depending upon your primary Shopify subscription other than Shopify Payments itself, this particular service is delivered at the range of 2.4% + 30¢ USD per transaction – 2.9% + 30¢ USD per transaction.
Third-party payment processor services are free if you are using Shopify Payments. However, the solution’s overall rates remain relatively high compared to more accessible merchant services providers.
For instance, Fattmerchant offers the same services at genuinely affordable rates with its monthly subscription plan and variable payment processing. It also allows you to accept payments through a virtual terminal, making it easy to process over-the-phone payments.
Shopify Payments Are Convenient Only If You Already Host Your Website With the Solution
Overall, Shopify Payments can be a convenient solution if you already host your website with the company. However, if you have your website set up with another vendor or don’t have an existing web portal, it is better to choose the services of a fully-fledged payment provider such as Fattmerchant.
The accessibility and affordability factor also strengthens this idea further. If you are looking for more payment hardware options or more competitive transaction fees, Fattmerchant stands out as the clear winner out of the two.
Fattmerchant Payment Processing Services
Businesses across the world need payment processing services. The reason why payment processing is necessary today is because of the more modern and sophisticated forms of commerce. Thanks to technology, merchants can conduct business wherever they are with a few simple devices.
The nature of business is evolving, and merchant services providers like Fattmerchant and are ensuring that they continue to invest in the appropriate infrastructure improvements to enable further convenience in this domain.
Fattmerchant steps into this domain to ensure merchants can subscribe to a merchant service provider that keeps it simple, cost-effective, and hassle-free.
Fattmerchant understands the importance of convenience and simplicity in this modern era and gears its services and overall operations to making the business’s life as easy as possible.
What Should You Know About Fattmerchant and What it Offers to Online Stores?
The first point is that Fattmerchant is a subscription-based merchant service that provides direct access to the cost of interchange and simple payment processing for a simple monthly charge.
That means merchants only have to worry about one thing; their customers and coming up with more services and solutions that meet their client’s needs.
They do not have to worry about the various charges that they may incur for conducting business through several different mediums. No, they simply connect with Fattmerchant, pay a flat monthly fee, and go on about their business.
With a mere monthly subscription cost and the variable cost per transaction, business owners know what they are getting and can estimate what they need.
What does that mean?
You have clarity over costs and do not have to worry about hidden costs, random expenses, and frustrating rate hikes.
Fattmerchant differs from the pack because it brings about transparency in payment processing.
Fattmerchant clients can also have access to the Omni platform that enables data and analytics for your thriving online store. The platform enables simple full-scale payment processing with an all-encompassing platform.
Finally, do not worry about extra costs for PCI compliance, statements, or moving to another provider.
Fattmerchant’s Critical Features:
- Subscription-based pricing
- No contracts or markups
- Real-time data and analytics dashboard
- 24/7 in-house customer service
- Over 200 available software integrations
- 2-way QuickBooks integration
- Free PCI compliance assistance
- Mobile processing
- Payment gateways
- Next day funding for approved businesses
- Integration with most established POS systems
Merchants love that Fattmerchant is simple to set up and implement. They also appreciate that they can take advantage of Fattmerchant customer service that will always be there to guide merchants with their problems.
The Omni platform enables you to have an understanding of your business sales trends, outstanding payments, and other pertinent details. Do not forget that Fattmerchant offers a flexible relationship with zero contracts.
That’s right; you can try out Fattmerchant and see if it meets your needs. If you don’t like it, you can move to another provider that could align with your needs.
You will not have any hassles or issues throughout the process.
From PCI compliant features to the reviews of many different customers who appreciate Fattmerchant credit card payment processing, this payment provider has outshined many competitors. It can serve your eCommerce website, process your credit cards, and please your end customers with no additional fees.
Learn more about Fattmerchant payment processing and find out how you can quickly start saving on payment processors and merchant services today. We will be happy to answer any questions you have and help you leverage the best all-in-one contactless payment processing solution for your needs.
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