The e-commerce firm’s checkout and payment feature will become available to U.S.-based businesses on Facebook and Instagram this summer and to Google-linked stores later this year. (The Logic)
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The e-commerce firm’s checkout and payment feature will become available to U.S.-based businesses on Facebook and Instagram this summer and to Google-linked stores later this year. (The Logic)
Talking point: Shopify started letting its existing merchants offer Shop Pay via the social media apps and search engine earlier this year. Both Google and Facebook have deepened their integrations with the Canadian e-commerce company during the pandemic, allowing their own digital properties to act as the storefront, with Shopify serving as a back end for owners to manage the rest of their businesses. Consumers used Shop Pay for US$24 billion of product and service purchases between its April 2017 launch and March 2021, president Harley Finkelstein said on an April earnings call. That’s about a tenth of Shopify stores’ gross merchandise volume of just over US$280 billion across those 16 quarters. The stock closed up 1.66 per cent on the Toronto Stock Exchange Tuesday.
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