Shopify online store beginners should choose $29, $79 or $299 price plan?
Considering that some countries can’t use shopify payment to collect money, they need to use third-party collection channels, such as stripe, 2checkout, paypal, etc., shopify will charge additional fees, such as $29 plan to charge 2% transaction fee, $79 plan to charge 1% transaction fee, $299 plan to charge 0.5% transaction fee.
If you can use shopify payment, then there is no such fee.
We have 3 situations to analyze with you, according to the sales price of 100 USD:
1. Customer pays with PayPal
According to the $29 plan, paypal will first charge 4.4%+0.3, and you will pay 2% to shopify, then all costs are 100*4.4%+0.3+100*2%=6.7 USD.
2. The customer pays by credit card, you use shopify payment to collect payment
According to the $29 plan, you will need to pay 100*2.9+0.3=3.2 USD, and the fee will be deducted when the customer pays.
3. The customer pays by credit card and you use a third party credit card channel to collect payment.
According to the $29 plan, when the customer pays $100, the third-party credit card charges 100*2.9%+0.3=3.2 USD, then you need to pay 2% fee to shopify, 100*2%=2 USD
Then all costs are 100*2.9%+0.3+100*2%=5.2 USD
If you can’t use shopify payment, then the cost calculation will be more complicated, but most countries’ merchants can use shopify payment, and shopify payment is also the most suitable choice, we also highly recommend shopify payment for your most optimal payment options. Let’s assume that the total sales is A.
$29 plan fee: 29+3.2*A/100
$79 plan fee: 79+2.9*A/100
$299 plan fee: 299+2.7*A/100
With this simple formula, you can quickly decide which plan is best for your online store based on your total sales.