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Shop Pay is your Friend.

The whole point of Shop Pay is to speed up the checkout process for all online customers. Therefore, users only have to type in payment information once; after that, the tool automatically recognizes your profile when visiting a participating online store.

Shop Pay, owned by Shopify, offers a simple, one-click payment solution for online shoppers to save their payment information for faster checkouts in the future.  In addition, Shop Pay promotes local businesses, plants trees for all transactions completed, and lets customers split their payments into multiple transactions. So, what is Shop Pay? Keep reading to learn all about it.

What is Shop Pay? The Basics

what is Shop Pay

Shop Pay has two primary functions: it's a wallet for online consumers to save payment details and speed up transactions in the future, but it's also a payment method that merchants can add to their stores, giving customers this option and providing additional benefits.

To use is as a wallet, a customer would download the app, fill in their payment information, then save that on their device to make online checkouts faster. This way, they don't have to take out their credit card, or even type in personal information, every time they want to make a purchase.

Shop Pay stores the following payment information:

  • Mobile phone number
  • Credit card details like the number, expiration date, and CVV code (all encrypted and PCI compliant for security)
  • Billing details like the customer's address
  • Shipping details like the customer address

Overall, Shop Pay is a convenient payment method and checkout solution for online consumers. As long as the merchant allows for Shop Pay payments, customers can take advantage of its benefits. In fact, Shop Pay is available for any online seller, not just those that use the Shopify ecommerce platform; merchants can also accept payments through the payment solution when selling on websites like Facebook and Google.

The accelerated checkout system from Shop Pay ensures that customers can process payments faster. For merchants, it provides the opportunity for more conversions, particularly repeat purchases.

It comes with a bundle of exceptional features to explore. Aside from saving customers heaps of time when they check out, Shop Pay also comes with features like local pickup and delivery options. And all information is safe and private; billing and shipping data stays on Shopify’s PCI ready servers and merchants don’t save any information on their servers, so they're at less risk of issues with compliance regulations.

How Does Shop Pay Work?

The basic Shop Pay features make for a rather intuitive shopping experience, but there's much more to it. To answer the question of “how does Shop Pay work?” it's best to go over all of its features.

Here are the primary features (for online shoppers) to give you an idea of how it all works:

A Cart Filler

auto fill

The whole point of Shop Pay is to speed up the checkout process for all online customers. Therefore, users only have to type in payment information once; after that, the tool automatically recognizes your profile when visiting a participating online store.

All previously entered billing information is encrypted and saved so that customers only have to click one Buy Now button to fill in a checkout form, eliminating the need to pull out a credit card or even type in your name.

Paying in Full or with Shop Pay Installments

Perhaps one of the most exciting features from Shop Pay is how the customer can choose to either pay in full at the moment of purchase or spread it into multiple payments.

Here's how it works:

  1. The customer picks Shop Pay Installments.
  2. They get to choose to make four equal installments instead of one full payment.
  3. The customer selects a debit or credit card to pay the first payment and future installment payments.
  4. The account walks customers through a brief identity verification process to pay later. Eligibility is more about preventing fraud. They don't check credit scores.
  5. The customer agrees to terms, authorizes the payment through Shop Pay (Affirm handles their installment processing).
  6. For security, the app texts the customer a 6-digit verification code to complete the process.
Shop Pay installments

What about late fees?

Shop Pay installments don't work like a credit card. There are no fees, penalties, or additional charges to break a payment into installments. It's possible to make early payments through the same checkout page but, unlike credit card payments, they don't charge a fee if you miss a payment. However, you may get restricted or banned from Shop Pay installments if you make a partial or late payment.

What Qualifies a Transaction for Shop Pay Installments?

In order to have the option for Shop Pay Installments (where you pay four equal installments instead of one lump sum) the transaction must be between $50 and $3,000 USD. This amount includes taxes, shipping, and discounts.

Transaction Auto Logging for Past Orders and Receipts

logging past orders

Shop Pay logs all past orders. That means online consumers can go back in their history to see the items they've bought, how much it all cost, and where the products came from.

The history module also organizes orders and gives users quick search and filter tools to find things immediately. Not only that, but you can find detailed receipts as well.

Returns and Customer Support with the Click of a Button

Shop Pay is primarily designed to help online shoppers. So, it's not directly connected to any store you visit. However, it recognizes the store you're currently shopping on and links you directly to online resources, FAQs, customer support links, or whatever the merchant provides. You can ask the seller a question with a quick chat, ask for a return, or view a shipping policy from the convenience of the app.

Is Shop Pay Safe?

It’s not always easy to know which payment options and checkout solutions merchants should offer on a website. You want to make sure that you’re creating a simple experience for your customers. However, it’s also important to ensure that you're keeping your bills low and reducing the amount of effort required on your side too. The same can be said for customers; is my payment information safe if I purchase through Shop Pay?

Based on our research, Shop Pay is very secure.

Thanks to things like SMS text verification, PCI compliance, and encrypted financial data, customers and merchants get several layers of purchasing security. That’s important in a world where your customers are trusting companies online less than ever. The added layer of security means that shoppers and merchants can enjoy more peace of mind when they interact.

The processor even handles all the payment security elements on behalf of merchants. There’s no technical expertise necessary. This makes Shop Pay an excellent choice for companies that don’t want to hire their own developer to make their website suitable for customers.

What is a Shop Pay Code?

A Shop Pay code is the 6-digit code texted to a user's phone to verify their identity for a purchase. This code is essentially the piece that allows the app to make transactions for users take only a few seconds. Customer data is already stored and encrypted within the app; all that's required is to verify the user's identity, so each transaction sends a 6-digit code to that shopper. They then type it into the checkout screen to process the transaction, eliminating the need to type in anything else, such as the credit card number, customer name, or shipping address.

Here's what a Shop Pay code looks like when sent to your phone as an SMS message:

getting your shop pay code

After which, users can type the code into the authentication field (which appears in the store you're currently shopping at).

what is Shop Pay code

Then, it fills in all necessary payment information and processes the transaction.

Note: You can also send the Shop Pay code to an email address instead of your phone.

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