Shopify has announced that it’s expanding its Shop Pay payment option to all merchants selling on Facebook and Instagram.
Buyers completed over 137 million orders using Shopify’s Shop Pay payment option in 2020, reaching a total of $20 billion in cumulative GMV since 2017. Now, Shopify is opening it up to many more people buying and selling through Facebook and Instagram – with an expansion to Shops on both platforms as a “fast and secure payment option.”
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Consumers on Instagram and Facebook will now see Shop Pay as a payment option within Facebook Pay, which automatically populates their details and makes the whole payment process shorter and effortless. Following a purchase, consumers can then track their orders. As a bonus, they can also see the carbon emissions offset from their purchase.
Checkout on Shop Pay within the Shopify platform makes a checkout 70% faster than the typical checkout and brings a 1.72x higher conversion rate. This translates to fewer abandoned carts and more conversions for merchants.
“People are embracing social platforms not only for connection, but for commerce,” explains Carl Rivera, General Manager of Shop. “Making Shop Pay available outside of Shopify for the first time means even more shoppers can use the fastest and best checkout on the Internet. And there’s more to come: we’ll continue to work with Facebook to bring a number of Shopify services and products to these platforms to make social selling so much better.”
Shop Pay will now be available in the US as a payment option within Facebook Pay for all Shopify merchants using checkout on Instagram. In the next few weeks, the feature will also roll out to Shopify merchants using checkout on Facebook.