Introducing New Payout Methods for Shopify Partners

This month, we have begun to roll out new payout methods for all Shopify Partners: app developers, theme developers, experts, affiliates, and agency partners.

The new payout methods give you more flexibility in how you can receive payouts, more coverage and support for more regions and countries around the world, and industry-leading fees to give you more control of your earnings.

We’re committed to helping our entire community of partners thrive, which is one of the reasons why, this year, we updated our revenue share plan, giving partners 100 percent of their revenue on the first $1 million they earn, per year. But we want to do much more, so we’re making this update to make it even better to partner with Shopify, and our millions of merchants around the world.

In this article, we’ll share details on our new payout methods. These updates will help you invest in growing your business, build your team, and create more amazing experiences for Shopify merchants.

New payout methods with Hyperwallet

We have partnered with Hyperwallet to introduce more flexible payout options for partners. Starting this month, new payout methods are available via the Partner Dashboard. The benefits of this for partners are:

More flexible payout methods
Industry leading pricing and fees
Expanding regional coverage

Read on to learn more about the new methods, how to enroll, and where to get support.

More flexible payouts

We have heard from the partner community that you want more flexibility in how payouts are made. We’re pleased to share that with Hyperwallet, payouts can be made in new methods depending on your local region. These can include local bank transfers, wire transfers, and other payout methods, in addition to PayPal.

"We’re pleased to share that with Hyperwallet, payouts can be made in new methods depending on your local region. These can include local bank transfers, wire transfers, and other payout methods, in addition to PayPal."

Partners may also specify the currency to receive payouts in, depending on region. We have secured competitive foreign exchange fees, helping partners keep their earnings and enable better business decisions.

Partners can make such changes to their payout method within the updated Partner Dashboard.

Screenshot of the Shopify CMS under the Settings tab, "adding a payout method" where the user can select the region, currency and payout institution — After selecting your region, you may assign a currency and select from available payout destinations.

Invenire, a Shopify Partner since 2018, is a development agency based in Queensland, Australia. The company specializes in SEO and analytics for Shopify stores. Invenire was one of several Shopify Partners that struggled with the previous payout methods. Arve Sølland, founder of Invenire, says his team has experienced a drastic improvement using the new payout methods.

The new payout via Hyperwallet works great! It’s saving me transaction fees I used to pay every time I transferred from my PayPal account to my bank account. It’s also saving me the hassle of manually logging in and initiating the transfer. Something that saves both time and money has to be good news, right?

Arve Sølland, founder of Invenire

“The new payout via Hyperwallet works great! It’s saving me transaction fees I used to pay every time I transferred from my PayPal account to my bank account. It’s also saving me the hassle of manually logging in and initiating the transfer. Something that saves both time and money has to be good news, right?” Sølland says.

Industry-leading fees

We have worked with Hyperwallet to secure new, preferential transaction fees. While the specific fees may vary based on payout method, and each partner’s region, they are more competitive and intend to give you more control over your earnings, and your business.

Lizuna, a Shopify Partner since 2018, is an app development company based in Tokyo, Japan. Their app, Beacon Fraud Protection, helps merchants around the world detect, reduce, and prevent fraudulent orders while not losing out on legitimate customers.

Getting paid in our local currency directly to our bank account greatly simplifies the payout process and financial record keeping. No more logging into PayPal. No converting currencies. No minimum fees and no more time-consuming transfers to our bank account.

Jason Sio, co-founder and CEO of Lizuna.

“Getting paid in our local currency directly to our bank account greatly simplifies the payout process and financial record keeping. No more logging into PayPal. No converting currencies. No minimum fees and no more time-consuming transfers to our bank account,” says Jason Sio, co-founder and CEO of Lizuna.

Expanding regional coverage

Until now, partners in some regions were unable to receive payouts because PayPal was unavailable in their region. Partners often had to establish complicated methods to direct payouts to intermediaries or associates, which delayed payouts and incurred additional fees and charges.

With our new payout methods, we can issue payouts in many more regions, now including countries such as Ukraine, Turkey, Bangladesh, Nigeria, and Pakistan. This means there is no need for intermediaries, and makes it simpler for developers around the world to build for Shopify.

Yellow.E.Stores, a Shopify Partner since 2014, is based in Chennai, India. As Shopify Experts, the company helps merchants launch and manage stores.

“We love the new payout feature, as we now receive our payouts directly from Shopify without any costly third-party commissions. We receive our payouts earlier, and with much less effort,” says Bapu Naidu, CEO of Yellow.E.Stores.

What partners need to do

As of November 2, we started rolling out the new payout method to partners, in a staggered update. We expect that all partners will have access to the new payout methods by the end of 2021.

"As of November 2, we started rolling out the new payout method to partners, in a staggered update. We expect that all partners will have access to the new payout methods by the end of 2021."

As the new payout method becomes available to your organization, you will see a notification in your Partner Dashboard and you will also receive an email with instructions.

Screenshot of the Hyperwallet account setup fields in the Partner Dashboard — When available, you may set up your Hyperwallet account in the Partner Dashboard.

Note: In certain regions, partners may be required to complete identity verification to meet local regulatory requirements. If this is relevant in your region, you will see additional instructions in the dashboard.

Updated documentation for additional support

To help support you in adding a new payout method, we’ve added new information to the Getting Paid page of our partner documentation. This page provides context on how partner earnings are calculated, and updated details on how to set up new payout details.

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More business growth opportunities for Shopify Partners and Developers

All around the world, Shopify Partners and Developers help merchants start, grow and manage their businesses, all while building successful businesses of their own.

We’re inspired by the success of many long-time Shopify Partners, such as Klaviyo in Boston, Recharge in LA, Printful in Latvia, and Yotpo in New York, all of which have built billion-dollar businesses focusing on serving Shopify merchants.

These new payout methods give partners more flexibility in how and where you can be paid, and industry leading fees to give you more control of your earnings, so you can better decide how to build and scale your own business. Combined with our updated revenue share plan, this is another update to help partners succeed alongside our merchants.