what is shopify pay

and we are back at it again,with another and yet another video from,resolutions design,hello my name is edwin from resolution,design i am an agency owner,and top shopify expert if you're brand,new to the channel welcome,welcome and welcome uh the type of,videos that we kind of do,here on resolutions design is videos,quick tutorials,quick tips business ideas,inspiration you name it so if you,like this type of content talking about,street shopify,please go ahead don't forget to,subscribe and,that like button let's begin so,congratulations,you got your first sale super happy for,you,rather if it's been in the works for a,long time or it's something that,you've been struggling with or whatever,you got that sale in,so the real question is so what now,what's what's what's going to happen,next,right um so when do i get paid,that's the reason as to why we're here,several factors okay so i'm going to,split this conversation into two types,of people that are perhaps watching,you're either a drop shipper all right,so your business model,is either a drop shipping model or,you produce your own products some way,somehow,okay and of course the difference,between the two is that is,if you're a drop shipper you're getting,yourself from aliexpress,oberlo or some of these printfuls or,whatnot right,that's if you're into that business the,other ones if you're a private supplier,meaning that,you have a manufacturer that gets them,to you um,you know you have a warehouse you have a,location the the point is is that you,pick pack and ship the products yourself,or you delegate them locally,you know you're not depending on china,or anything like that to do it for you,so let's talk about if you're a drop,shipper,if you're a drop shipper and it's your,first sale,the first thing you need to do is not,depend on shopify for that money,i'm going to say it again and it might,not be a great thing that you want to,hear,but i'm being very honest with you i'm,just talking about your first sale,i'm not talking about everything else,i'm talking about just your first sale,okay so if it's your first sale right,don't worry about it go ahead come out,of pocket go to aliexpress or go to,bellow,pay for the product okay pay for the,product,and send it out so that your customer,can get it,now typically in shopify,your first order might take at least,seven days for it to arrive in your bank,now,this does not apply to everyone this,information that i'm telling you,actually comes from genevieve from the,shopify staff,as you can see right here tons of,comments tons of likes,look at what it says your first payout,will take at least seven days to go,through,as there are a few things our,underwriting team needs to check for new,accounts right,then after that meaning after that first,sale you know you,continue getting more sales or whatnot,u.s payouts are sent three days after,the order is processed,i think typically it's less than that,typically it's probably like,two days at most but when i say two days,i'm talking about two business days,okay and all of this is in talks of,shopify payments,this has nothing to do with paypal i,believe if you get your first sale off,of paypal,then that uh money is there immediately,i could be wrong,but go ahead down in the comments let me,know what you think when you got your,first sale,did you get it using shopify payments or,did you use paypal for your first sale,and tell me how soon did you get it so,in the comments tell me,if you remember your first sale and how,fast did you get that payment,you'll notice that in the comments,there'll be several different answers,some people will say hey i got it right,away others might say it took a few days,right but we're talking about the first,sale here,and i'm showing you here that on shopify,they went ahead and they said that,okay so uh going back into the example,here,if you get your first sale you could,always start in the dashboard,and for more information you go down,here in the corner where it says view,payouts,right and once you click on this you get,to see exactly,what happens with those payouts right so,you get to see okay they paid on this,day they paid on that day so on and so,forth,right so that's that answer there but,generally speaking,when it comes down to the last you know,it takes about seven days just be,prepared for that,you know have that money up front so if,you sold the product,let's say four hundred dollars but in,aliexpress they're charging you,twenty dollars right then have those,twenty dollars ready go to aliexpress,and go,purchase it because the money's coming,there's no questions about it,they're going to bring it over to you,right it's just that,sometimes with aliexpress and oberlo you,know being in china and all that,it might take longer than usual and,that's why you have to kind of,upfront that cash first now even better,if you get a tracking number as soon as,possible go ahead and slap that into,shopify and close out that order,so that your customers are aware that,that order is,coming soon shopify is going to see that,and potentially could even accelerate,that first,seven day payments right so,that part is very very important as well,things get kind of complicated i'll be,very honest with you as far as with all,other clients that we worked with when,let's say you're in the supplements,industry,or if you're involved in an industry,where it has an extremely,high fraud rate fraud,rate okay what do i mean by that,i'm just going to name a few supplement,companies,such as you're selling vitamins,you're selling you know let's say,let's say something like i don't know,vitamin c,or supplements or things that are,just related to supplements and vitamins,and and,drug things right like you have to be,very careful with that,and so that right there shopify payments,might delay it,and potentially could even cancel the,account because,they just don't want to deal with that,they've probably had other,types of vendors that they've had issues,with,and there's a lot of frauds meaning that,people will go,and create chargebacks on their credit,cards and say oh no this product is not,what they told me it was going to be,something like fat burners or anything,like that you don't,the shopify payments are just no good,for that right,they will cut you off real quick um,others would be like let's say for,example,what's a high risk product another,high-risk product was hair extensions,like women who sell hair extensions it's,a very high,high risk product and shopify payments,sometimes will allow you to get a few,sales,and then all of a sudden boop they,cupped you off they cut you off saying,sorry,we don't want to deal with this type of,product or something something technical,right,and in that case that's when you have to,go private you have to use,uh sometimes even paypal will cut you,off you'd be surprised too,they'll probably even cut you off too um,so a private supplier might be something,like an authorized.net,so what do i mean by that you go to your,original bank,so you go to your bank uh you take your,ein,and you show them your website you're,like look you know i'm a legit business,right and they're like yeah you know,your legit business you signed up you,open a bank account,right and you tell them look i need,merchant services,any merchant services to connect to,authorize.net and from there they'll put,you on a contract,with a very small amount of transaction,fees probably less,than shopify payments shopify payments,charges somewhere around 2.6 percent,depending on what plan you're in right,they charge two point six percent,if you're on the twenty nine dollar plan,they probably charge even at two point,nine percent that's the highest right,but if you're on shopify plus they,barely charge you anything,so you know and then on top of that,whatever shopify charges you that one,percent transaction fee for not using,shopify payments,you heard correctly if you're ever going,to use a private payment gateway,so like authorize.net right and,because you have like you're a high risk,product,right um because you're not using,shopify payments,whatever the private bank charges you,that,whatever percentage shopify is gonna be,like yeah i'm gonna tax you another one,percent on top of that,for not using shopify payments rather if,you can or not they're just gonna slap,that one percent on you,right because of the products that,you're selling okay,but anyways back to this topic at most,seven days at most and this is just your,first sale okay,so don't flip out don't think oh my god,forever this will always be this way no,that's just what it'll be for the first,sale or first sales,your first sales will come in and,they're just kind of holding it and then,they'll eventually push it out to your,bank account,all right so that's about it i hope that,this information,strongly helped right again if you ever,wanted to see your,your payments or payouts go right there,where it says home,and then from home go to where it says,on the bottom right corner view all,payouts,if you like this type of information you,like this training,send me that uh you know send me a,comment let me know what you think,and what other types of videos would you,need to know,regarding payments like what are you,stuck at like,where where is this complicated for you,so i could go ahead and try to help you,out,but the reason i made this video is,because i hear these questions too it,was like hey you know i just made my,first sale i don't know,when is it do i when do i get my first,payment okay,awesome other than that see you next,time and don't forget that academy is,coming soon,all right stay tuned take care

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