Shopify is expanding its Shop Pay payment option to Facebook and Instagram.
Through the new integration, Shopify merchants selling on the social platforms will be able to offer seamless Shop Pay checkout capability for customers making purchases there, the company said in its announcement.
Buyers will see Shop Pay as an option within Facebook Pay. This is the first time the Shop Pay capability will be available outside of the Shopify platform.
An eMarketer report cited by the Wall Street Journal said that spending through social commerce – discovering products on social platforms like Facebook and Instagram – is expected to grow 34.8% in the U.S. this year. A separate eMarketer study noted that only 18.7% of buyers who discovered products on social networks used available checkout options on the platform to purchase them, the publication said. Most (57.8%) left the social network to make their purchases on the retailer’s web site instead.
“People are embracing social platforms not only for connection, but for commerce,” Carl Rivera, General Manager of Shop – Shopify’s digital shopping app – said.
“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.”
According to Shopify, checkouts on Shop Pay have a 1.72x higher conversion rate than typical checkouts. Shop Pay reduces barriers to making purchases; the one-click checkout option stores billing and shipping details and allows buyers to track their purchases and manage their orders.
Buyers completed more than 137 million purchases through Shop Pay during 2020, the company said. Shop Pay has also handled nearly $20 billion in gross merchandise volume since it launched in 2017.
The new feature is now available for U.S. merchants on Instagram. It will roll out for Facebook in the coming weeks.