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Spotify expands e-commerce partnership with Facebook & Google

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Miguel A. Rodriguez
Miguel A. Rodriguez
16 June 2021
As e-commerce is gaining ground, more and more companies are expanding their horizons

Shopify, the subscription-based software that allows people to set up an online store and sell their products, announced the opening of its e-commerce checkout system to all retailers selling through Facebook and Google. It is the first time the Canadian company offers a product to merchants who don’t use its platform, expanding the existing collaboration with the two American tech giants.

Starting this July, sellers who commercialize their products through the two platforms’ properties such as Instagram, YouTube or Google Maps will offer shoppers the possibility to pay for their products using Shop Pay. The feature will be available for Google later in 2021. Currently, Shop Pay – a checkout product that stores users’ information, speeding up online transactions – can be used only by Shopify merchants.

Josh Gunter, a Facebook spokesperson: “By offering more payment options, we’re making it easier for people and businesses to buy and sell on Facebook and Instagram.”

Shopify President Harley Finkelstein stated: “Our hope is that this momentum moment for Shop Pay is a step forward to becoming the internet’s preferred checkout.”

For Shopify’s e-commerce software, small companies pay a monthly fee, while larger companies may pay thousands of dollars/month based on sales volume. The model proved to be profitable for shareholders.

 At the moment of writing, Shopify stock price is trading 0.56% higher, while Facebook and Google did not record any noteworthy movements.

Sources: finance.yahoo.com, thestreet.com

This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.