Merchants can use the new Markets Pro tier to manage tax and duty compliance in different countries, as well as offer payment in local currencies and via regionally popular methods, like Bancontact cards in Belgium. The service is currently available to invited U.S. clients. Shopify will charge merchants 6.5 per cent of every transaction, and a 2.5 per cent currency conversion fee to shoppers. (The Logic)

Talking point: The new offering effectively white-labels Global-e’s merchant-of-record service; in April 2021, Shopify struck a partnership with the Israeli firm for a cut of revenue when clients made sales through Global-e’s products, as well as the option to take a stake. Shopify declined to disclose how it’s splitting Markets Pro fees with Global-e. The Ottawa-headquartered commerce firm has a similar deal with San Francisco-based Affirm for its installment-payment service. Shopify announced the base version of Markets—which offers some language, currency and localization options—in September 2021. It’s gradually gained ground globally since going into wide release in January, with more than 100,000 of Shopify’s 1.7 million merchants signed up as of July.