A closer look at Shopify’s multi-currency features in Canada
This article will go over how the multi-currency payments system works, how to set it up, and how you can use it with Wise to grow your business
You're likely trying to identify which platform - Salesforce or Shopify - best fits your business strategy and can adapt and scale with you in the future. We'll compare Shopify Plus and Salesforce Commerce Cloud to help you future-proof your ecommerce venture. Whether you choose Salesforce Commerce Cloud or Shopify Plus, you’ll find that a Wise Business account might help you save money when making cross-currency transactions, but more on that later!
Shopify Plus
Key features | Key considerations |
---|---|
Online selling tools | Varied card rates, potential processor fees and a 0.20% / transaction fee to Shopify2 |
High-converting one-click Shop Pay checkout | Businesses are locked into a 1 or 3-year plan |
All-in-one omnichannel platform | Limited flexibility in customization |
Easy global expansion with activation in 150+ countries1 | Limited basic features that encourage app integration |
Robust partner ecosystem | Lack of multi-store architecture |
Salesforce Commerce Cloud
Key features | Key considerations |
---|---|
AI and automation-focused operations | Pricing starts at 1% gross merchandise value3 |
Can create a highly personalized and customized experience for customers | High costs, especially for small and mid-sized companies |
Omnichannel experience | Difficult to set up and navigate without a dedicated IT team |
International payment support for several currencies | Limited out-of-the-box features |
High-level stock management | Potentially slower time to market |
Shopify Plus is an easy-to-use cloud-based commerce platform that is built for businesses to scale. It’s the ideal operating system if you’re looking for an omnichannel solution that brings in social commerce, tools for wholesale buyers, and global expansion tools for localization strategies. It differs from Shopify in that it’s specifically designed for enterprise businesses and high-volume merchants, giving them access to more extensive customization options and complex capabilities. Shopify is incredibly popular, as it is a fully hosted SaaS solution that takes care of maintenance, security, and updates automatically. With integrations for just about everything, it’s a highly accessible platform that doesn’t require deep technical knowledge.
Salesforce Commerce Cloud is another powerful cloud-based commerce platform that is focused on personalized shopping experiences and handling your ecommerce business with advanced AI and automation. It has an inherently scalable infrastructure and integrates with the broader Salesforce ecosystem. Typically, businesses will use Salesforce for both B2C and B2B commerce for an end-to-end solution. Each component serves a direct purpose, with Order Management helping you optimize your order list and Commerce Portals built for loyalty programs and targeting your customers along the buying journey.
Shopify Plus and Salesforce Commerce Cloud are both respected and reliable ecommerce platforms. If you’re a high-growth business, either of these is a great place to start. They both support significant traffic and complex requirements, but they do have some significant differences that could sway your decision.
Shopify Plus has a much more straightforward and familiar subscription-based pricing model. The platform charges 2,500 USD/month for a 1-year term and 2,300 USD/month for a 3-year term, and there’s also a variable platform fee if you happen to have a more complex business structure.4 There are also transaction fees to keep in mind, which will depend on whether you use Shopify Payments or a third-party processor as your primary payment gateway.
On the other hand, Salesforce focuses on a percentage-based fee of 1% of gross merchandise value.5 Add-ons cost extra, with 0.50 USD/order for Salesforce Order Management, for example.6 Their pricing is more so based on each business’s individual needs, where the sales team will help tailor a package that matches your budget and requirements.
The platform you choose should provide a seamless workflow for all aspects of your ecommerce business, no matter what. If you’re looking for a streamlined setup process that feels more intuitive and simple, Shopify Plus will provide that for you. The platform has a drag-and-drop editor, thousands of app integrations to help you tackle every aspect of your workflow, and automation tools to reduce manual workload.
Setting up Salesforce Commerce Cloud can be a lot more complicated because of its advanced capabilities and customizability. It’s designed more so for businesses with hyper-specific needs and those who need highly tailored solutions, hence the longer setup times. The Einstein 1 Platform also fosters predictive and generative AI experience for any workflow, crafting a better experience for customers and employees.
The definition of user-friendly, in this case, truly depends on your ecommerce needs. While Shopify Plus fits the traditional definition, with limited technical knowledge and a shallow learning curve, this model might not be considered user-friendly if you require high flexibility and more resources to support your ecommerce site. Salesforce Commerce Cloud gives hands over more control to the business, letting in-house development teams configure and maintain their business process however they like.
Both platforms boast their very own native payment service to streamline the checkout process: Shopify has Shopify Payments, and Salesforce has Salesforce Payments. Salesforce Payments allows customers to pay with digital wallets, direct debit, traditional credit and debit cards, and non-credit card alternatives. Shopify is similar in that it allows payment through digital wallets and cards, but also features Klarna – an installment payment option. Because Salesforce caters to B2B, D2C, and B2C commerce, its payment solutions are less B2C-centered and can handle complex transaction scenarios and varied business models too. Salesforce Payments also automatically sets payment zones to all currencies and countries, and with Chargent, you can choose to charge credit cards in your local currency or in the customer’s local currency. Shopify also lets you sell internationally in 133+ currencies and settle in your own.7
Ecommerce platforms like Salesforce Commerce Cloud and Shopify Plus typically charge their own added fees and potential markups on currency conversions and transactions. While you can’t go around these extra fees, a Wise Business account can help you bypass hefty conversion costs through the mid-market exchange rate. You have account details in 19 currencies with Wise’s international business account, including CAD, USD, HKD, HUF, AUD and more! It also lets you manage and hold 40 currencies in one place with no monthly or recurring fees. Every transaction you make uses the fairest exchange rate on the market with no markups, with minimal fees starting at 0.33%.
Do you need to make payments to multiple vendors or clients? Wise allows batch payments of up to 1000 at once and provides an easy-to-use invoicing template. You can even issue debit cards for you and your employees to consolidate spending and integrate your account with popular accounting software like QuickBooks, Sage Cloud, Xero, and more.
Get your Wise business account in a few clicks! 🚀
Please see the Terms and Conditions for your region and visit our pricing page for the most up-to-date pricing and fee information on Wise products.
Shopify Plus has a 24/7 dedicated support team and multiple channels to reach them. You can either email them, request a call, start a live chat, send a message to @ShopifySupport on X, or even browse their robust help center for answers. Salesforce also has 24/7 availability, so you never have to worry about extensive downtime, with extra emergency coverage during weekends and holidays. They have a live chat option, phone support, ticket support, and a help center full of videos and resources.
Both platforms are designed to be highly scalable and can handle large teams and customer bases. Shopify Plus is capable of localizing your content as you expand across borders, letting you sell in multiple currencies and tailoring your store to different audiences. Automation comes in to play a naturally bigger role as your business grows, and staff permissions let certain people take responsibility for certain tasks.
Salesforce also offers infinite scalability, capable of accommodating millions of users. This sophisticated platform handles the scaling of your website seamlessly. The Salesforce team effortlessly handles all the technical aspects of your site, including crucial elements like security patches and server maintenance.
If we were to sum up what makes either platform a better choice than the other, it would be their inherent target market and capabilities. For those seeking an intuitive, straightforward platform with an array of third-party app integrations, Shopify Plus is an ideal pick. Enterprises who need substantial customization and flexibility, Salesforce Commerce Cloud has the depth and power you need. No matter which platform you choose, opening a Wise Business account will help you manage your international and local financial transactions with ease.
Sources:
1 - Shopify Plus Platform | Scalable Commerce Software & Solutions
2 - Shopify pricing
3 - Salesforce Commerce Cloud Pricing & Editions
4 - Shopify Plus pricing
5 - Salesforce Commerce Cloud Pricing & Editions
6 - Editions & Pricing: B2C Commerce- Salesforce
7 - Shopify Payments for Shopify Plus
Sources verified on 2 July 2024
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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