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Shopify to expand payments product to Google, Facebook sellers

Shopify Inc. (SHOP.T) announced Tuesday that it plans to expand its Shop Pay payments offering beyond merchants who use the company for its online-store services. Shop Pay will come to Facebook Inc.'s (FB) core platform as well as to Instagram during the summer, before expanding to Alphabet Inc.'s (GOOGL)(GOOGL) Google later in the year. "By bringing Shop Pay to all merchants regardless of the commerce platform they use, we're making an industry-leading checkout more accessible to independent brands at a time when finding and converting customers has never been more important," Shopify said in a blog post. The company said that this is the first time it is making one of its products available for merchants who don't use Shopify to run their online stores. Shopify shares are up 2% in Tuesday morning trading. They've gained 15% over the past three months as the S&P 500 has risen 7%.

-Emily Bary; 415-439-6400; AskNewswires@dowjones.com

 

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06-15-21 1356ET

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