Shopify Announces Product Launches and Updates at Virtual Launch Event

Shopify Announces Product Launches and Updates at Virtual Launch Event

Shopify introduced a series of new financial, retail, and shipping updates to its e-commerce platform in a virtual store called Shopify Reunite. The flagship product is Shopify Balance, a corporate account, debit card, and rewards mix that will include a new area found in the Shopify Business Manager workspace. It will allow merchants to have a clear overview of their cash flow and allow them to pay their bills, track expenses and make changes in the direction of their business. The Shopify Balance card skin includes physical and virtual cards that merchants can use to access their money, via mobile or online, as well as ATMs. The service comes with no monthly fees or minimum balance requirements and will launch in the United States later this year. During research, Shopify found that two out of five merchants currently use their bank accounts and bank cards for business purposes. This means that they combine the two, making it difficult to gauge the financial health of your business. Therefore, Shopify Balance was designed to fill this gap. Shopify has also added rewards to its product portfolio, which will allow you to offer merchants cash back and discounts for business expenses like shipping and merchandising. Meanwhile, Shop Pay Installments is a "buy now, pay later" product designed to give merchants more payment options and flexibility by allowing consumers to split purchases into four equal payments over time. It will be interest-free, at no additional cost, and available to US merchants eligible for Shopify payments.

Boost e-commerce

Another new product comes in the form of local delivery, which is aimed at merchants around the world. It will allow them to define a local area for order fulfillment, business owners can use their Shopify, Shopify POS, and Shopify Mobile products to deliver nearby. Shopify also revealed updates to its distribution network, which launched in 2019 after the company opened its first research and development center in Ottawa to test new robotics and control technologies. The Covid-19 crisis prompted Shopify to add additional features and functionality to its products, including its online store capabilities due to increased demand from existing and new users. The settings include the option to collect tips at checkout, while Shopify has also launched a new one-page theme called Express that allows merchants to get online very quickly. Additionally, gift card sales are now available to all merchants. New features are a plugin for Shopify's recently announced store, a direct-to-consumer app, and a personal shopping assistant. Meanwhile, an upcoming chain of stores will allow sellers to control how their brand appears online. The Canadian company had planned to host the fifth Shopify Unite event in Toronto earlier this month, but had to cancel due to the Covid-19 outbreak.