Yes, unfortunately there are some limitations due to Shopify:
You can create a maximum of 25 payment rules on the Premium Plan
The credit card payment option can only be modified if you're on Shopify Plus
Payment methods with logos, such as Klarna or PayPal, cannot be renamed.
Payment customizations do not work with Shop Pay (Mobile App).
Wallets integrated via Shopify Payments cannot be sorted (e.g. PayPal, Apple Pay or Google Pay).