Facebook and Instagram stores are adding Shopify as a payment option which is expected to increase conversion rates by 1.72x.
All Shopify merchants selling on Facebook and Instagram can now offer Shop Pay as a payment option for customers.
Paying with Shop Pay would be 70% faster than a regular checkout, which is largely due to the way it pre-populates customer details like billing and shipping information.
When a customer uses Shop Pay for the first time, their information is stored for future purchases. The next time they checkout with Shop Pay, they can speed up the process with just a tap.
This is the first time that Shop Pay has been available outside of Shopify. For businesses, the expansion of Shop Pay means more sales and fewer abandoned carts.
In a study of 10,000 of the largest Shopify merchants with Shop Pay enabled, it was found that payments through Shop Pay have an average pay-to-order rate that is 1.72 times higher than those that go through payments. regular.
This number is even higher on mobile, where Shop Pay increases the conversion rate by 1.91x.
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“While Shop Pay’s conversion benefit is evident on both mobile and desktop, it is significantly improved on mobile, where Shop Pay checkouts convert 1.91 times more than regular checkouts. This is a huge advantage for brands that go directly to consumers, where converting on mobile can be the difference between making money or losing money. “
Shopify merchants can activate Shop Pay by following the steps in the next section.
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How to activate Shop Pay
Shopify merchants can activate Shop Pay in a few simple steps:
- From your Shopify administrator interface, go to Settings> Payments.
- In the Shopify Payments section, click Manage.
- In the ACCELERATED CONTROLS section, check Shop Pay.
- Click on Save.
Your customers can now use Shop Pay to shop in your store.
In an ad, Shopify highlights the benefits Shop Pay has brought to businesses since launching in 2017:
“With Shop Pay now available as a fast and secure payment option on Facebook, users also have access to order tracking and advanced carbon offsets for their deliveries.
Shop Pay has helped shoppers complete more than 137 million orders in 2020, and by year-end had facilitated nearly $ 20 billion in GMV cumulative since launch in 2017. ”
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Shop Pay will first be available to all Shopify merchants using payment on Instagram in the United States, and will roll out to Facebook in the coming weeks.
When Shop Pay is available on Instagram and Facebook, users will be able to find tagged products in the app and add them to their cart.
At checkout, they will have the option to select Shop Pay as their preferred payment provider among other choices such as credit card, debit card, and PayPal.
Once the order is complete, customers can easily track the progress using the Shopify app.
Shopify merchants in the United States can sell products directly through Facebook and Instagram using tools introduced last year. Shop Pay will automatically be enabled in Facebook and Instagram Shops if enabled in the merchant’s main Shopify store.
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For more details on Facebook and Instagram Shops, check out our coverage here:
Sources: Shopify (1, 2)
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