Comparisons
Pay-by-Bank vs PayPal on Shopify
Your payment method directly impacts your profit margins, customer trust, and cash flow. While PayPal is familiar and widely used, it comes with high fees, delayed payouts, and chargeback risks.
Pay-by-Bank by Wallid is a modern, secure, and lower-cost alternative for Shopify merchants in the UK—powered by open banking and integrated directly into the checkout.
Payment Fees by Shopify Plan (UK)
Note: PayPal fees may vary and are provided for informational purposes based on publicly available data. Shopify does not charge an additional transaction fee for PayPal but does apply a third-party fee to alternatives like Pay-by-Bank. Last updated: 31.03.2025
Example Fee Breakdown for £100 Order
Even with Shopify's third-party fee, Pay-by-Bank can save on fees —especially with larger volumes or higher average order values.
Payout Speed
- PayPal: Typically 2−3 business days (manual withdrawal)
- Pay-by-Bank (Wallid): Instant or same-day payouts directly to your business bank account
Chargebacks & Fraud
- PayPal: High exposure to chargebacks and fund holds
- Pay-by-Bank (Wallid): No chargebacks; all payments are bank-authenticated push transactions
Checkout Experience
- PayPal: Redirects to external login flow
- Pay-by-Bank (Wallid): Seamless, embedded checkout experience inside Shopify with no login step
Security & Biometric Identification
- PayPal: Offers consumer protection but relies on legacy login systems
- Pay-by-Bank (Wallid): Built on open banking standards with biometric authentication through trusted banking apps
Payout Speed
- PayPal: Typically 2–3 business days (manual withdrawal)
- Pay-by-Bank (Wallid): Instant or same-day payouts directly to your business bank account
Chargebacks & Fraud
- PayPal: High exposure to chargebacks and fund holds
- Pay-by-Bank (Wallid): No chargebacks; all payments are bank-authenticated push transactions
Checkout Experience
- PayPal: Redirects to external login flow
- Pay-by-Bank (Wallid): Seamless, embedded checkout experience inside Shopify with no login step
Security & Biometric Identification
- PayPal: Offers consumer protection but relies on legacy login systems
- Pay-by-Bank (Wallid): Built on open banking standards with biometric authentication through trusted banking apps
Payment Fees Thoughts
If you're a UK-based Shopify merchant looking to reduce costs, streamline your checkout, and access funds faster, Pay-by-Bank by Wallid is a compelling alternative to PayPal.
It’s secure, frictionless, and built for ecommerce.
It’s secure, frictionless, and built for ecommerce.
Ready to try it?
Install Wallid's Pay-by-Bank on Shopify
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