Shopify (NYSE: SHOP), Facebook, Inc. (NASDAQ: FB) – Shopify Deepens Ecommerce Collaboration with Google, Facebook: Bloomberg

  • Shopify Inc (NYSE: SHOP) will make its online payment system available to all retailers selling through Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) Google, and Facebook Inc (NASDAQ: FB), extending an existing collaboration, Bloomberg Reports.
  • Shoppers who connect with retailers through Instagram, YouTube, or Google Maps will pay for their purchase using Shop Pay starting in July for Facebook, and later in 2021, for Google.
  • Shop Pay is a payment product that stores user information, speeding up online transactions.
  • Currently, retailers have access to Shop Pay through these social media platforms. However, retailers must become Shopify merchants to take advantage of this.
  • Shopify has started helping retailers build websites to move their stores online. It has expanded to offer a suite of products, including shipping, data analytics and small business loans, and now describes itself as a “retail operating system”.
  • Small businesses pay a monthly fee for basic Shopify ecommerce software. Large companies can spend thousands of dollars per month depending on sales volume.
  • Over a million merchants sell on the Facebook and Google platforms. Every day, more than 1.8 billion people log into Facebook and one billion shopping sessions take place on Google.
  • Shopify merchants account for 10% of ecommerce transactions in the United States.
  • Price action: SHOP shares traded up 0.95% at $ 1,319.06 on the last check on Tuesday.

Source link

About Vincent Hand

Check Also

Brij launches QR Code One-Touch product registration

Share Tweeter Share Share Share E-mail Brij, which works to connect physical products to digital …

Leave a Reply

Your email address will not be published. Required fields are marked *