Shopify Opens Shop Pay to Google & Facebook Sellers, Also Plans Installment Option

Shopify Opens Shop Pay to Google & Facebook Sellers, Also Plans Installment Option

June 17, 2021

Shopify made two announcements recently regarding its Shop Pay online checkout solution. Shop Pay enables Shopify merchants to store user information making payment easier for returning customers.

The Ottawa, Canada-based company said it will enable merchants that sell through Facebook and Google platforms (e.g., YouTube, Instagram, Google Maps, etc.) to accept payments using Shop Pay. It is the first time Shopify is making Shop Pay available to non-Shopify merchants.

“Our hope is that this momentum moment for Shop Pay is a step forward to becoming the internet’s preferred checkout, full stop,” Shopify President Harley Finkelstein told Bloomberg.

Separately, the company also revealed plans to enable its merchants to offer a Buy Now Pay Later option. Shopify partnered with BNPL provider Affirm to build installment capabilities directly into Shop Pay.

BNPL is a form of credit offered at the online point of sale that enables consumers to make purchases and pay the balance off periodically. It is growing rapidly in many places, especially in the wake of Covid-19 as consumers look for alternative ways to finance the purchases they need.

“We built Shop Pay Installments to give merchants a critical and easy-to-use financial tool to grow their sales,” said Kaz Nejatian, vice president of product for Merchant Services at Shopify. “Our partnership with Affirm combines their technology and expertise in buy now, pay later with our deep understanding of our merchants’ unique needs and the power of our commerce platform.”

When Shopify piloted the Affirm-built solution, average order values were 50 percent higher than other payment methods and merchants who switched from another BNPL solution saw 28 percent fewer abandoned carts through Shop Pay Installments.

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