Shopify’s Shop Pay will be used through Facebook and Google starting this year
The Canadian company will open its e-commerce checkout
system – Shop Pay – to retailers using Google and Facebook or their
properties such as Instagram, YouTube, or Google Maps. Shop Pay is a checkout
system made to speed up online transactions. It is used by retailers who have
access to one of the previously mentioned platforms and Shopify merchants.
Shopify’s expansion of the existing collaboration with the
US tech giants marks the first time when the company offers a product to
sellers who don’t use its platform. More than 1 million merchants sell products
on Facebook and Google
platforms.
Shopify
declined to provide information about what and if any revenue will float
between the three companies as part of the deal. On the other hand, while Google
declined to comment, a Facebook spokesperson stated: “By offering more payment
options, we’re making it easier for people and businesses to buy and sell on
Facebook and Instagram.”
At the moment of writing, Shopify stock price is trading
2.80% higher.
Source: finance.yahoo.com
