Good news for all Shopify merchants in Hong Kong! Shopify has officially announced that their in-house payment solution will be available for all Hong Kong based merchants. Why does that matter? Well, it means that Hong Kong merchants won't have to pay any transaction fees any longer.
Let us briefly remind you of the regular Shopify monthly plans:
- Lite: $9USD / month - “Buy Button”. You can sell on social media or in person via the free “Shopify POS” app.
- Dormant: $14USD / month - When you decide to stop selling, while content stays live on your site.
- Basic: $29USD / month (Lite features + website)
- “Shopify”: $79USD / month (Basic + gift cards, abandoned card recovery)
- Advanced: $299USD / month (3rd party shipping rates)
- Plus: Minimum $2.000USD/month. Exact pricing will be provided by a dedicated Shopify Plus Account Manager.
So far Shopify Payments had only been available in these countries:
United States, Puerto Rico, Canada, the United Kingdom, Ireland, Australia, New Zealand.
Starting today, Shopify Payment is also available in Hong Kong. This is indeed great news for all merchants as they will be able to save transaction fees on each sale going through their site. Example pricing calculation for a Hong Kong-based Shopify store on a 29USD/month plan:
CREDIT CARD RATES:
Hong Kong cards: 3.3% + $2.35HKD
International/Amex: 3.9% + $2.35HKD
TRANSACTION FEES Using Shopify Payments: $0.00HKD
In summary, there are no more transaction fees. Shopify permanently waives your extra 2% transaction fee when you switch to Shopify Payments. All you’ll ever pay is the processing rate and you’ll never have hidden charges or extra fees. Your payment details are synced with your orders, so you can make refunds or see what you’ve been paid without leaving Shopify.
For more detailed information on pricing, please check here.