Have insurance and no problems it is essential to get better conversions and offer a better shopping experience, and both Shopify and Facebook know it. In 2017, a payment option emerged that now, after its evolution to Shop Pay, will be available for sellers, both on Facebook and Instagram, to charge on the social network.
This is the first time that Shop Pay will be available outside of Shopify’s own platform.and for this reason it is a significant alliance, since it represents the expansion of its payment technology, and nothing less than an expansion towards Facebook and Instagram, which have established themselves as one of the most important sales and marketing channels for users of the eCommerce platform.
What is Shop Pay and how does it work?
With its integration with Facebook and Instagram, consumers will be able to find posts with product tags coming from sellers with Shopify stores, and then add them to your shopping cart, all without leaving the app.
At checkout, they will be able to select the “Shop Pay” option as their preferred payment method among other more common ones, such as credit card, debit card or PayPal. The user will receive a purchase confirmation code on his mobile, and then You will enter the code to complete the order without having to leave Facebook or Instagram.
Once the consumer uses Shop Pay for the first time, your information is saved for future purchases, which in the future will speed up the payment process, safely and with a simple touch. In other words, Shop Pay works as an online purchase accelerator, allowing you to pay without including your bank details each time, in the style of what you would do with, for example, PayPal. Until now, the scope of Shop Pay was limited to the Shopify environment, as a way to facilitate purchases in its stores.
One of the advantages of Shop Pay, according to the company, is that it is 70% faster with a 1.72 times higher than a typical purchase. In addition, this payment option includes the tracking and management of orders, which until now has tracked more than 430 million orders.
Facebook and Instagram will integrate the Shopify payment method
According to those since the start of the pandemic in March 2020, Facebook and Instagram marketing done through the Shopify channel integration saw 36% growth among their monthly active users, a trend that continues to grow, and it’s only fitting that Shop Pay is now integrated to offer a complete retail experience from these .
Today Shop Pay is used by different brands while more than 40 million consumers use Shop Pay on a regular basis in these and other eCommerce on the Shopify platform to complete your purchases.
Shop Pay participated in around 137 million orders, and by the end of the year this payment option had facilitated almost 20,000 million dollars, that is, more than 16,000 million euros in total sales (GMV) accumulated since its launch in 2017.
“People are embracing social platforms to not only connect with each other, but also as eCommerce platforms”, assured , general manager of Shop Pay in a statement. “Making Shop Pay available outside of Shopify for the first time means more consumers will be able to use the online payment method. And there will be more to come: We will continue to work with Facebook to integrate a number of Shopify products and services to these platforms. to make social selling that much better.”
Shopify increases its power in social networks
Of course, this is not the first third-party payment option that integrates with Facebook’s payment platforms, since the social network also accept PayPal, however it is a notable addition because Facebook has pushed to the max, a source of revenue that has become more critical as the platform grapples with Apple’s privacy changes that will no doubt affect its advertising business.
Working with a third party of the stature of Shopify is likely to allow Facebook to generate a juicy new revenue stream, while Shopify does not have exclusivity with Mark’s company since last fall as well to boost eCommerce campaigns in the social network.
For now Shop Pay integration on Facebook and Instagram will begin in the US and little by little it will expand globally.
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