PayPal Partners with Shopify for U.S. Payments
Hey, Payments Fanatic!
PayPal has partnered with Shopify to support a portion of Shopify Payments in the U.S. through its PayPal Complete Payments solution. This integration allows PayPal wallet transactions to be managed within Shopify Payments, streamlining the handling of orders, payouts, reporting, and chargebacks.
According to PayPal CEO Alex Chriss, the partnership highlights PayPal’s expanding role in providing payment solutions
Explore more Payments updates below, and I'll be back with more news tomorrow!
Cheers,
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PAYMENTS NEWS
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GOLDEN NUGGET
?????? ???????? Visa / Mastercard ???????? ??????????? - deep dive into the most successful payments companies??
Let's take a look at the current payment ecosystem today:
Core:
??Issuers - Chase, Citi, Revolut
??Acquirers - Nuvei, Stripe, Adyen
??Card Schemes - Visa, Mastercard, American Express
Additional:
??Payment Orchestration - Gr4vy, Inc, ACI Worldwide, Cybersource
领英推荐
??Payment Methods - Klarna, Alipay, Accrue Savings, Trustly
??Payment Aggregators - PPRO, Payoneer
??Token Vaults - VGS, Basis Theory
??Crypto Solutions - Zero Hash, Mural
This 6-step diagram shows the economics of the credit card payment flow (by Alex Xu):
1?? The cardholder pays a merchant $100 to buy a product.
2?? The merchant benefits from the use of the credit card with higher sales volume, and needs to compensate the issuer and the card network for providing the payment service.
The acquiring bank (Nuvei / Stripe) sets a fee with the merchant, called the "???????????????? ???????????????? ??????."
3??-4?? The acquiring bank keeps $0.25 as the ?????????????????? ????????????, and $1.75 is paid to the issuing bank (Chase / Revolut) as the ?????????????????????? ??????.
The merchant discount fee should cover the interchange fee.
The interchange fee is set by the card network (Visa / Mastercard) because it is less efficient for each issuing bank to negotiate fees with each merchant.
5?? The card network sets up the ?????????????? ?????????????????????? ?????? ???????? with each bank, which pays the card network for its services every month.
For example, Visa charges a 0.11% assessment, plus a $0.0195 usage fee, for every swipe.
6?? The cardholder pays the issuing bank for its services.
Why should the issuing bank be compensated?
? The issuer pays the merchant even if the cardholder fails to pay the issuer.
? The issuer pays the merchant before the cardholder pays the issuer.
? The issuer has other operating costs, including managing customer accounts, providing statements, fraud detection, risk management, clearing & settlement, etc.
Traditional card payments have been around for decades, ruling the overall payment space. They aren't going anywhere buuuut other forces are driving innovation & need to be brought into your payment stack for cost efficiency, higher acceptance and speed:
??Real Time Payments
??Open Banking
??Buy Now Pay Later
??Digital Wallets & Super Apps
??Embedded Payments (white labeling)
??Digical Currencies and CBDCs
??Crypto Payments
Technology is driving & disrupting payments continuously! Open Banking, Embedded Finance, rise of digital currencies, AI boom and many more forces are the future ??
eBay | Deel | Coinbase | Intuit
Source: Alex Xu from ByteByteGo
I highly recommend following my partner at?Connecting the dots in payments...?Arthur Bedel ?? ???for more great updates like this one??
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If you want to accept payments with multiple payment methods supported by your Stripe account with a single integration and multi-currency support, without incurring additional Shopify fees, check out EasyPie Checkout https://easypie.shop/shopify
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6 个月Shopify’s milestone of $?? ???????????????? ?? processed on their platform is already on the ads in Metro: https://www.dhirubhai.net/posts/marcelvanoost_shopifys-milestone-of-%F0%9D%9F%AD-%F0%9D%98%81%F0%9D%97%BF%F0%9D%97%B6%F0%9D%97%B9%F0%9D%97%B9%F0%9D%97%B6%F0%9D%97%BC-activity-7239324811426967552-1DD7?utm_source=share&utm_medium=member_desktop
The self proclaimed, most influential person in payments. Except for Jack Dorsey or those two bros from that other company & definitely not Satoshi Nakamoto, but after all those guys it's me.
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