- Online money transfers to merchants on Facebook, Instagram and Google are set to get easier as Shopify announces plans to extend its Shop Pay product to the wider market – not just merchants on its own platform.
- The company predicts that this will open up the chance for over a million merchants to use the new service, which offers key advantages such as extra security and more efficiency and speed for payments.
- “The expansion to all merchants selling on Facebook and Google is a mission-critical step in bringing a best-in-class checkout to every consumer, every merchant, every platform, and every device,” said a senior figure at the company.
A leading provider of e-commerce solutions has confirmed that its payments solution will be extended to customers other than the merchants on its platform.
Shopify said that its Shop Pay solution will be made available to anyone who is selling products on the major tech giant platforms Google and Facebook.
In a press release, the company said that it will make its one-click checkout function available to such merchants in the summer – making online money transfers easier for those involved.
The first phase will see the service offered to those selling products on Instagram and Facebook this summer.
This will only apply to those based in the US.
Google merchants will be able to benefit towards the end of the year.
The firm expects that as a result, Shop Pay will be on offer for over a million online sellers.
Merchants who use Shop Pay can derive a number of key benefits by setting it up.
These include enhanced security around payments, as well as greater efficiency.
According to a press release, checking out using Shop Pay is more than 50% faster than using a standard system.
It is also possible for merchants to track orders and shipping.
In a statement, a senior figure at the company argued that Shop Pay is an industry leader.
Carl Rivera, who is vice president of product at Shop, said that the service had helped through almost $25bn since it was set up.
“Since launching, Shop Pay has set the standard for checkout experiences, facilitating more than $24 billion in orders,” he said.
“According to studies, cart abandonment averages 70%, with nearly 20% occurring because of a complicated checkout process.”
He said that the company was hoping to help all sorts of merchants to overcome these barriers, and provide as strong a service as possible to everyone involved, including end customers.
“Shop Pay makes that process fast and simple, and the expansion to all merchants selling on Facebook and Google is a mission-critical step in bringing a best-in-class checkout to every consumer, every merchant, every platform, and every device,” he said.
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