In response to demand from enterprise retailers, Shopify’s Shop Pay is being made accessible to e-commerce businesses not using the Shopify platform.
By transforming Shop Pay into a commerce component, enterprise customers can add the feature without the need to completely replace their exisiting commerce infrastructure. The offering is available to enterprises based in the US, Canada, the UK, Australia, and New Zealand, Shopify said in a press release.
According to a recent study conducted by one of the big three consulting firms, Shop Pay boasts a conversion boost of up to 50 percent compared to a guest checkout, surpassing other accelerated checkouts by at least 10 percent.
Kaz Nejatian, VP Product and Chief Operating Officer of Shopify, commented on the significance of leveraging Shop Pay, stating, "Enterprises that do not take advantage of Shop Pay are essentially self-sabotaging. They are leaving money on the table." Nejatian emphasized that in a highly competitive retail environment, where large brands are fiercely competing to acquire customers, it is crucial for them to select the tools that can boost their top-line growth without requiring a complete platform overhaul.
Shop Pay's effectiveness stems from its extensive identity network, unmatched scale, consumer trust, and velocity of innovation. When a user with a Shop Pay account visits an online store, Shopify recognizes them with a single click. If the customer has recently used Shop Pay, the checkout process can identify them without any action required. This allows Shop Pay to pre-fill all the necessary information, ensuring a seamless one-click checkout experience that is four times faster than a guest checkout.