What is Shopify Payments?
Shopify Payments is a payment service which helps to accept and process payments from your customers in return of the products or services provided to them through Shopify. The payments can be made through credit card, debit card and other types of cards (collectively “cards”).
How long do the payments take to appear in your Bank accounts?
The payments take around 24-72 hours to show up in your Bank accounts, after they are sent by the customers.
The duration of the pay period varies from country to country.
What is Pay Period?
Pay Period is the duration of time between the day an order is placed in your store to the day you receive the payment for the same in your bank account.
Note: Shopify Payments service is available only to stores in the United States, Puerto Rico, Canada, the United Kingdom, Ireland, Australia, and New Zealand. It is not available to US territories except Puerto Rico.
The details of the pay period of different countries are as follows:
United States
For United States, the pay period is 2 business days. The payment for the orders placed on Friday, Saturday and Sunday are clubbed together and sent as one payment.
Canada
The pay period for Canada is 3 business days. The payment for the orders placed on Friday, Saturday and Sunday are clubbed together and sent as one payment.
Australia
The pay period for Australia is 3 business days. The payment for the orders placed on Friday, Saturday and Sunday are clubbed together and sent as one payment.
New Zealand
For the stores based in New Zealand, the pay period is 3 days. The payment for the orders placed on Friday, Saturday and Sunday are clubbed together and sent as one payment.
United Kingdom and Ireland
The pay period for Australia is 4 business days. The payment for the orders placed on Friday, Saturday and Sunday are clubbed together and sent as one payment.
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