At a glance
Revenue split by payment gateway / processor. The processor-economics view: how much money flows through Shopify Payments vs Stripe vs PayPal vs gift cards vs other rails?
Calculation
Calculated automatically from your Shopify data. See the At a glance summary above for what the metric tracks and the worked example below for a typical reading.Worked example
A US apparel brand on Shopify Plus. Period: 12 Apr 26 to 11 May 26. Total revenue $284,400.
Five things to notice:
- Klarna at 8.7% is high-cost. 5,290 / 1,640 / 24,800 / 480 = 182,400 / 4,120 = $44.27): Klarna shoppers spend 17% more, partially justifying the fee premium.
- Gift card share at 3% is healthy. Steady gift-card redemption indicates a working loyalty / gifting program. Sub-1% suggests gift cards are not visible at checkout; 5%+ can indicate fraud (gift card cracking).
- Apple Pay / Google Pay are bundled into Shopify Payments here. The card shows them separately if explicitly tagged; otherwise they roll up. To track Apple/Google Pay attach rate, use Shopify’s Conversion → Payment report directly.
- Manual at 1.5% is mostly B2B wire transfers. Each manual payment is a Shopify-imposed account-management overhead; reconcile manually. Brands with growing B2B should evaluate Shopify B2B’s invoice features to reduce manual reconciliation.
- Clearpay at 0.8% is too small to optimise. Below 1% is generally not worth a dedicated optimisation; just keep it on as a customer convenience.
Sibling cards merchants should reference together
Gateway revenue is one half of payment-economics. Pair with these:Reconciling against the vendor’s own dashboard
Where to look in Shopify Admin: Analytics → Reports → “Sales by payment provider” → set date range. Should align closely with this card. Other Shopify Admin views:- Settings → Payments: configures available gateways; doesn’t show revenue.
- Finance → Payouts: gateway-side payout view. Shopify Payments has its own payout schedule; Stripe / PayPal manage independently.
Cross-connector reconciliation:
Known limitations / merchant FAQs
Why is my Apple Pay / Google Pay share so low? They typically roll into Shopify Payments unless explicitly tagged. To see attach rates, use Shopify Admin’s Conversion → Payment report. My BNPL provider’s share keeps growing, is that good or bad? Mixed. BNPL drives larger basket sizes (often 15-30% AOV uplift) and higher conversion among younger shoppers. Costs are higher (typically 5-6% vs 2.9% for cards). Worth it if AOV uplift × volume > fee delta. Calculate per-cohort. Are gift card redemptions counted as revenue? Yes, here gift cards count as gateway revenue. Some accounting systems treat gift card redemption as deferred revenue (the original card sale was the revenue event); reconcile per your accounting practice. Multi-currency, any impact? Multi-currency stores see distorted gateway shares because the card sums without FX. Filter to single presentment currency for accurate analysis. Shopify Plus vs basic? Plus stores can use Shopify Functions to customise gateway routing rules (e.g. show PayPal only over $X). The card behaves identically; the gateway mix differs. Refresh cadence? 5 to 15 minute index lag. B2B vs DTC? B2B uses manual gateway extensively (wire transfers, invoice payment). DTC almost never. Mixed stores see manual share dominated by B2B; filter by tag for DTC analysis. Refunds aren’t deducted, isn’t that misleading? For some accounting purposes yes. The card shows gross gateway revenue; net-of-refunds is on roadmap as a separate metric. For now, cross-reference Refund Value to estimate. The card moved (a gateway suddenly grew), what should I do?- Identify the gateway and check whether it was newly enabled / featured at checkout.
- Compare AOV per gateway; some gateways skew toward higher AOV.
- Compare refund rate per gateway; some BNPL providers correlate with higher refund rates (impulse purchases).
- Re-evaluate the gateway mix at checkout: is the optimal display order being used?