Shopify has long been known as the e-commerce platform where merchants can sign up and start selling online.
But over the past few months, as brick-and-mortar businesses closed amid the coronavirus pandemic, Shopify has seen a new wave of retailers moving online. And as its merchant base grows, Shopify has been launching several new products to meet retailers' new needs.
Not to change the topic here:
Shopify Announces Major Product Launches and Updates at Virtual Event Reunite, Including Shopify
Introducing Shopify Balance, business account and card built for independent businesses (Photo: Business Wire)
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From helping merchants manage their store's money, to offering effortless local delivery options, to creating new ways of generating revenue at checkout, the products and updates announced at Reunite will help merchants navigate an ever-evolving retail landscape and plan for the future.
5 Reasons Shopify Could Be the Biggest Winner from E-Commerce's Surging Growth |
One of the consequences of the COVID-19 pandemic has been the accelerated adoption of e-commerce by consumers. With stay-at-home orders and remote work becoming the new normal, even merchants that had long resisted the growing trend have been forced to transition to online sales.
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While you might feel like most people shop via e-commerce already, digital transactions still represent just a fraction of retail sales. E-commerce in the U.S. accounted for 11.4% of total retail in the fourth quarter of 2019, according to the Department of Commerce. That was up from just 4% in early 2010, and the trend is still gaining steam.
Shopify to launch its own take on the business bank account | Financial Post
Shopify Inc. says it plans on allowing merchants to start opening their own very bank-like accounts with it in the United States later this year, and then in Canada at some point after that, as the e-commerce company expands further into financial services.
Among the offerings the Ottawa-based firm announced Wednesday was Shopify Balance, a “business account,” card and rewards that are designed with start-ups and entrepreneurs in mind.
In case you are keeping track:
Shopify Has Not Yet Peaked (NYSE:SHOP) | Seeking Alpha
Near-term (0-12m), I am neutral on Shopify. Long-term, I am about as bullish as a person could get.
eCommerce will be a $900B industry in 2022. Shopify's slice of that pie will continue to grow as brands see the benefits of using Shopify versus rolling their own solution.
Multiple billion dollar businesses already run on Shopify. Others will continue to come as functionality continues to develop.
Shopify announces a new merchant debit card and support for payment installment plans –
Shopify is announcing several new products and features today at Reunite , a virtual conference for the one million merchants using the company’s e-commerce platform.
“The traditional products offered by banks were created in a world that’s very different,” Miller said. “We went back to first principles of how they should be designed.”
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Miller said that “initially,” the only funds in the account will come from Shopify payments —merchants won’t be able to deposit additional money, but they will be able to log in, track cash flow and pay bills. The account comes with a debit card (virtual or physical), and Shopify said it will also offer cashback rewards and discounts on expenses like shipping and marketing.
World's Leading Crypto Payments Processor CoinPayments Announces Strategic Partnership with
GEORGE TOWN, Cayman Islands , May 20, 2020 /PRNewswire/ - CoinPayments, the world's leading cryptocurrency payments processor, today announced a new strategic partnership with Shopify (NYSE:SHOP). The collaboration will bring CoinPayments' crypto payments processing platform to all Shopify merchants as both companies look to fuel wider adoption of payments in digital currencies.
This announcement follows a successful beta trial that started in 2019. Under the terms of the partnership, CoinPayments will now be a visible payment option for merchants on the Shopify platform and will make cryptocurrency transactions easier and more accessible while reducing transaction fees. Vendors will now get paid faster in any of the 1,800 cryptocurrencies supported by CoinPayments while gaining access to untapped markets globally.
Shopify unveils Balance debit card, opens AI-powered fulfillment network to merchants |
Shopify today announced a slew of finance, shipping, and retail updates for its direct-to-consumer commerce platform. The company unveiled a business account and debit card called Shopify Balance, a "Buy Now, Pay Later" option called Shop Pay Installments, and a new Local Delivery product. Shopify also announced its AI-powered fulfillment network is now actively accepting merchant applications.
The announcements were made at Shopify Reunite , the company's first virtual event. The Canadian company was supposed to host the fifth installment of its annual partner and developer conference, Shopify Unite , in Toronto earlier this month. In late February, Shopify canceled the in-person element over COVID-19 concerns and then ultimately decided to cancel the whole event altogether. But the coronavirus pandemic has been a boon for the company and other Amazon rivals .
Happening on Twitter
Shopify is launching business banking tools starting with 'Shopify Card' in the US! 🚀 #ShopifyReunite https://t.co/waUCfVqIXJ ow (from Toronto, Ontario) Wed May 20 16:28:59 +0000 2020
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