Need to Know
- All Shopify merchants selling on Facebook and Instagram will soon be able to offer Pay as a checkout option to their buyers.
- Shop Pay’s pre-populated payment details, order tracking, and carbon offset program will all be part of the Facebook and Instagram integration.
- The integration marks the first time Shop Pay is being made available outside of Shopify’s own platform.
Shopify is expanding Shop Pay to Facebook and Instagram, marking the first time the company is making Pay available outside of its own platform.
Merchants who sell on Instagram and Facebook will soon be able to offer Shop Pay as a payment option to customers at checkout.
The integration, currently only available to US merchants who sell using Instagram, will bring Pay’s order tracking, one-click payment detail population, and carbon offset program to both social mediums. Shoppers can find tagged products from Shopify merchants within the app, then add them to their in-app cart. At checkout, they will be given the option to select Shop Pay as their preferred payment option; customers will then be sent a confirmation code to their phone, which they will need to enter to complete the transaction. The integration will roll out to merchants who sell on Facebook in the coming weeks.
“People are embracing social platforms not only for connection, but for commerce,” Carl Rivera, GM of Shop said in a statement. “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 has seen considerable success since its launch in 2017. According to Shopify, checkout on Shop Pay within the Shopify platform is 70% faster than a typical checkout, with a 1.72x higher conversion rate.
Shop Pay was used on more than 137 million orders in 2020, facilitating nearly $20 billion in cumulative gross merchandise value since its launch. More than 40 million buyers use Shop Pay to purchase directly from Shopify stores. Shopify Payments, meanwhile, which Shopify merchants use to accept funds, almost doubles the amount of chargebacks won by merchants, compared to other payments processors.
Shopify, already a leader in e-commerce, launched a number of partnerships and initiatives since the beginning of the COVID-19 pandemic that has cemented its status. These include a partnership with Walmart that has seen the big-box retailer double the size of its third-party marketplace thanks to Shopify’s resources, and a partnership with the Government of Canada on Go Digital Canada, a joint initiative aimed at helping small businesses engage in online commerce. The company also recently announced plans to build the Shopify Balance Account and Shopify Balance Card, a business account that will help merchants take control of their finances, in partnership with Stripe.