Comparisons
Pay-by-Bank vs Shopify Payments
Shopify Payments offers simplicity and integration — but fees vary depending on
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Your Shopify subscription plan
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The card type used by your customer
(Visa, Mastercard, Amex)
Shopify Payments: Fees by Plan
Here’s a breakdown of typical Shopify Payments fees in the UK
Card Type Impact
American Express typically carries higher interchange fees, which are passed on to you as the merchant. While Shopify Payments offers a blended rate, merchants may still see variations.
0.7% + 25p base fee per transaction
Biometric ID & fraud checks
Instant settlement
No chargebacks
No card scheme fees
What About Pay by Bank?
Shopify adds a third-party transaction fee for Pay by Bank based on your plan (2.0%, 1.0%, or 0.5%). Revised on 31.03.2025
Pay by Bank (powered by Wallid) is an account-to-account (A2A) payment method using open banking rails. It doesn’t rely on card networks, which means
Real Cost Comparison
£100 Order Paid by Visa
Conclusion
Shopify Payments is a reliable native checkout option, but Pay by Bank is a powerful addition — especially for merchants focused on reducing transaction fees and improving settlement speed.
Even after adding Shopify’s third-party transaction fee, Pay by Bank remains competitive — especially with:
It’s not a replacement — it’s a smart complement to Shopify Payments, giving customers a lower-cost, secure way to pay while enhancing your overall checkout experience.
Note: Fees may vary and are provided for informational purposes based on publicly available data. Last updated: 31.03.2025
- No card network processing
- Instant bank settlement
- Elimination of chargebacks
It’s not a replacement — it’s a smart complement to Shopify Payments, giving customers a lower-cost, secure way to pay while enhancing your overall checkout experience.
Note: Fees may vary and are provided for informational purposes based on publicly available data. Last updated: 31.03.2025
Try Pay-by-Bank Today
Ready to reduce payment fees and increase sales? Join the growing number of Shopify merchants adding Wallid Pay-by-Bank to their stores.
Wallid Products
Pay-by-Bank Payment App
Wallid’s Pay-by-Bank app integrates directly with Shopify checkout, enabling instant bank payments, significantly lower transaction fees, and zero chargebacks.
Pay-by-Bank Express Checkout
Wallid’s Pay-by-Bank Express Checkout delivers a fast, frictionless experience by connecting directly to customers’ bank accounts — increasing conversion rates while lowering fees